Can the geographical area and meeting location of the Exit Brokers' Council change?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
Franchisee shall join, maintain membership at its own expense, and actively participate in a Brokers' Council, as established by Subfranchisor. This Broker's Council will meet on a regular basis, as determined by Subfranchisor. The geographical area and meeting location of each Broker's Council may change, from time to time, based on the establishment of franchises throughout the State. Notifications of these meetings will be sent, in advance, to each Franchise. Franchisee shall abide by all rules and regulations as may be established by the Broker's Council,
including any decision reached in accordance with the rules and regulations of the Broker's Council directed to EXIT franchisees. The Broker's Council may establish membership fees and other charges in order to be an active participant in the Broker's Council. The establishment of rules, procedures and membership fees and charges shall be determined by at least 2/3 of the Franchisee members and shall not be calculated on a per transaction basis. Representation in the Broker's Council will be limited to two (2) participants at regular meetings. Each Franchise, in good standing, shall have one (1) vote with respect to decisions considered by the Broker's Council.
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, the geographical area and meeting location of the Brokers' Council can change. The Brokers' Council is established by the subfranchisor, and Exit franchisees must join and actively participate in it at their own expense.
The subfranchisor determines how often the Brokers' Council meets. The geographical area and meeting location can change over time as more franchises are established within the state. Exit will send advance notifications of these meetings to each franchisee.
Exit franchisees must follow all rules and regulations established by the Brokers' Council, including decisions made according to its rules. The Brokers' Council can also establish membership fees and other charges for active participation, determined by at least two-thirds of the franchisee members, but these fees cannot be calculated on a per-transaction basis. Each franchise in good standing is limited to two participants at regular meetings and has one vote on decisions considered by the Brokers' Council.