What must Exit Sales Representatives do with all funds received relating to their responsibilities under the Agreement?

According to Exit's 2025 Franchise Disclosure Document, all funds received by a Sales Representative that are related to their responsibilities under the agreement must be immediately turned over and delivered to EXIT [Trade Name]. The Sales Representative is explicitly prohibited from endorsing or negotiating any check or instrument on behalf of EXIT [Trade Name]. This policy ensures that all financial transactions are handled directly by the brokerage, maintaining control and compliance.

This requirement is a standard practice in the real estate industry, where brokerages are responsible for managing funds related to real estate transactions. By requiring Sales Representatives to turn over funds immediately, Exit maintains oversight of all financial dealings, ensuring compliance with real estate laws and regulations. This protects both the brokerage and the client from potential mishandling of funds.

For a prospective Exit Sales Representative, this means that any checks or payments received in connection with real estate transactions must be promptly submitted to EXIT [Trade Name]. They cannot deposit the funds into their personal accounts or use them for any personal expenses. This requirement is designed to streamline financial operations and ensure accountability within the Exit system. Failure to comply with this policy could result in disciplinary action or termination of the agreement.