What information is reflected in the monthly statement that Exit provides to the Sales Representative?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
- b) Monthly Statements. EXIT [Trade Name] shall submit to Sales Representative a monthly statement reflecting Sales Representative's portion of the expenses, fees and/or royalties and financial obligations set forth in this Agreement.
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, Exit provides its Sales Representatives with a monthly statement. This statement includes the Sales Representative's portion of expenses, fees, royalties, and other financial obligations as outlined in the Sales Representative Agreement.
This means that each month, Sales Representatives will receive a detailed breakdown of all charges and deductions affecting their earnings. These may include fees for office space, communication tools, MLS access, and any other services provided by Exit. Understanding this statement is crucial for Sales Representatives to manage their finances and ensure accurate commission payments.
Prospective Sales Representatives should carefully review the Sales Representative Agreement and the Exit Formula to fully understand the fees and financial obligations that will be reflected in the monthly statements. This will help them anticipate their monthly expenses and accurately project their income.