Does Exit provide access to computer software before the franchise opens?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
Before you open your Franchise, EXIT Realty Upper Midwest and EXIT will provide the following assistance to you:
- (2) Provide you with access to EXIT's computer software. See Franchise Agreement, Section 9.14.
The software provided by EXIT for the Franchise Report System (MEMO) is owned by EXIT and licensed by EXIT to you. EXIT maintains and updates MEMO. EXIT will have independent access to the information generated or stored on MEMO. The initial cost of the MEMO software is $0. Currently, a licensing fee of $250.00 per month for MEMO, payable to EXIT, is charged to you. This fee is to be paid by automatic monthly withdrawal. See Section 9.14 of the Franchise Agreement and ITEM 6 and ITEM 8 of this Disclosure Document.
EXIT may require you to upgrade the hardware and software to maintain compatibility with MEMO.
MEMO calculates and stores the Transaction Fees, Regional Development Fees and Company Development Fees for each transaction performed by your Franchise. The MEMO System tracks all information pertaining to Franchise contract details, as well as information about each of your Sales Representatives. It provides the ability to set commission plans which automatically calculate the commission of every transaction in which a salesperson is involved. It tracks when Sales Representatives cap out on EXIT
Transaction Fees and reach the next commission level. It keeps track of all listings, both pending and sold. It does not track other operating expenses not directly related to real estate transactions, such as office rent, postage expenses, utility expenses, etc.
Hardware Requirements Software Requirements
• High speed internet access • Chrome or Microsoft Edge
- 8GB RAM Minimum or Higher Windows 11 or newer operating system
Source: Item 11 — FRANCHISOR'S AND SUBFRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING (FDD pages 19–24)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, prior to opening their franchise, franchisees will be provided with access to Exit's computer software. The software provided by Exit is the Franchise Report System (MEMO), which is owned and maintained by Exit. Exit will also have independent access to the information generated or stored on MEMO.
The initial cost of the MEMO software is $0, but there is a licensing fee of $250 per month, payable to Exit via automatic monthly withdrawal. Exit may also require franchisees to upgrade their hardware and software to maintain compatibility with MEMO.
MEMO calculates and stores the Transaction Fees, Regional Development Fees, and Company Development Fees for each transaction. The system tracks franchise contract details and information about sales representatives, allowing for commission plan settings and tracking of commission levels. It also keeps track of listings, both pending and sold. However, MEMO does not track other operating expenses such as office rent or utility expenses. To operate the MEMO software, Exit requires franchisees to have high-speed internet access, Chrome or Microsoft Edge, a minimum of 8GB RAM or higher, and a Windows 11 or newer operating system.