Are Exit Sales Representatives required to keep customer information confidential?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 23: RECEIPT]
i) Non-Disclosure of Confidential Information. Sales Representative agrees that Sales Representatives will not, either during the term of Sale Representative's relationship with EXIT [Trade Name] , and for a period of 1 year following termination of Sale Representative's relationship with EXIT, divulge, disclose or communicate to any person or entity other than EXIT [Trade Name], or use to the detriment of EXIT [Trade Name] or for the benefit of any other person or entity, or misuse in any other way, any Confidential Information. For any Confidential
Information that consists of trade secrets, the non-disclosure obligations shall remain in effect so long as the Confidential Information continues to be treated as a trade secret under applicable law. Sales Representative shall exercise utmost diligence to protect and guard all Confidential Information of EXIT [Trade Name].
CONFIDENTIALITY POLICY
It is essential to protect the confidentiality of client information, company operations, and fellow associates' transactions with the same diligence as one's own. Agents and staff must respect privacy by refraining from inquiring about clients or property details handled by colleagues. When an administrator is preparing an offer, others should avoid the immediate work area to maintain discretion. Access to client account information is restricted to employees who require it for administrative purposes. Similarly, company-related data is confidential unless publicly disclosed through official channels such as press releases or financial statements. Inside information may not be used for personal gain, company profit, or client advantage. The obligation to maintain confidentiality extends beyond employment, including after termination
or retirement.
Franchisee shall accurately report to Subfranchisor and EXIT, all transactions upon which Franchisee or its agents or sales representatives receive commission, including, by way of example and not limitation, rentals, leases and sales of land, commercial buildings, residential units, condominiums and mobile homes, and shall timely remit and pay transaction fees and other continuing fees due with respect to each transaction. Franchisee shall ensure that all sales representatives accurately report all such transactions to Franchisee and that all sales representatives who perform services with or through joint sales and marketing groups, or "teams," accurately report such activity, participation and their transactions in MEMO.
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, Sales Representatives are obligated to maintain the confidentiality of certain information both during their relationship with Exit and for a period of one year after its termination. The term "Information" includes all data used or compiled by the Sales Representative, as well as any information, written or oral, made known to the Sales Representative by Exit or any Exit customer. This includes financial information, employee lists, customer contact lists, quotes, contracts, corporate procedures, sales plans, training materials, and marketing materials.
All such Information is considered "Confidential Information" unless it becomes publicly known without the Sales Representative's disclosure or is acquired from a third party who has not breached any confidentiality agreement with Exit. Sales Representatives must not disclose Confidential Information to any person or entity other than Exit, use it to Exit's detriment, or misuse it in any way. They are required to exercise utmost diligence to protect all Confidential Information of Exit. For Confidential Information that constitutes trade secrets, the non-disclosure obligations remain in effect as long as the information is treated as a trade secret under applicable law.
Furthermore, the confidentiality policy extends to protecting client information, company operations, and fellow associates' transactions. Agents and staff must respect privacy by refraining from inquiring about client or property details handled by colleagues. Access to client account information is restricted to employees who require it for administrative purposes. The obligation to maintain confidentiality extends beyond employment, including after termination or retirement. Franchisees must also ensure that all sales representatives accurately report all transactions to Franchisee and that all sales representatives who perform services with or through joint sales and marketing groups, or "teams," accurately report such activity, participation and their transactions in MEMO.