Does Exit provide franchisees with access to computer software?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 11: FRANCHISOR'S AND SUBFRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING]
Hardware Requirements Software Requirements
• High speed internet access • Chrome or Microsoft Edge
- 8GB RAM Minimum or Higher Windows 11 or newer operating system
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.
EXIT Realty Upper Midwest estimates that your cost to purchase a computer is $500- $1,000 per computer. There is a minimum of 1 computer required for the Franchise, although it is likely that you will need 2-4 computers during your initial 6 months in business. Your obligation to upgrade your computer or its operating system is dependent upon technology advances and EXIT's upgrades of MEMO.
[Item 11: FRANCHISOR'S AND SUBFRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING]
ITEM 11 FRANCHISOR'S AND SUBFRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING
Except as listed below, EXIT and EXIT Realty Upper Midwest are not required to provide you with any assistance.
1. Pre-Opening Obligations.
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.
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, Exit provides franchisees with access to its proprietary Franchise Report System software, known as MEMO. Before opening their franchise, Exit Realty Upper Midwest and Exit will provide franchisees with access to Exit's computer software. Exit owns and licenses the MEMO software to franchisees, maintaining and updating it as needed. Exit also has independent access to the information generated or stored within MEMO.
While the initial cost of the MEMO software is $0, franchisees must pay a licensing fee of $250 per month to Exit for MEMO. This fee is collected through automatic monthly withdrawals. Exit may also require franchisees to upgrade their hardware and software to maintain compatibility with MEMO. To use the MEMO software, franchisees need to have high-speed internet access, Chrome or Microsoft Edge, a minimum of 8GB RAM or higher, and Windows 11 or a newer operating system.
The MEMO system calculates and stores transaction fees, regional development fees, and company development fees for each transaction performed by the franchise. It also tracks franchise contract details and information about sales representatives, including commission plans and commission levels. Additionally, MEMO tracks listings, both pending and sold, but it does not track other operating expenses such as office rent or utility expenses. Exit Realty Upper Midwest estimates that the cost to purchase a computer ranges from $500 to $1,000 per computer, with a minimum of one computer required, though franchisees will likely need 2-4 computers during their first six months.