Christie’s International Real Estate Franchise Cost, Revenue & Review 2026
- Investment
- $64K – $443K
- Disclosed sales
- not disclosed
- SBA charge-off
- Not SBA-matched
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
Christie's International Real Estate is a luxury residential brokerage franchise tied to the Christie's auction house brand. Franchisees run high-end brokerages, recruiting agents and managing luxury listings, sales, and marketing.
FranchiseVerdict summary · 2026
A Christie’s International Real Estate franchise requires a total initial investment of $64K – $443K, including a $35K franchise fee and an ongoing 3.0% royalty[2]. This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. FranchiseVerdict grade: B (Above average), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: low - issued within the last 12 months
Evidence: strong✓ Investment (Item 7)✓ Item 19 status✓ Units and owners (Item 20)✗ SBA loan coverage✓ Litigation (Item 3)✓ Financial statements (Item 21)✓ Franchisor identityhow this is scored4 of 5 headline figures on this page cite a page of the filing; the rest are marked “Not cited” beside the figure.
Overview
- Investment
- $64K – $443K
- 48th pct Real Estate
- Avg gross sales
- N/A
- Royalty
- 3.0%
- 4th pct Real Estate
- Units
- 40
- 27th pct Real Estate
- SBA charge-off
- N/A
Quick verdict · Real Estate · color = vs category peers
Green = favorable by >10% vs Real Estate median · No shading = within ±10% · Red = unfavorable by >10% · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Bottom line
- COSTTotal investment $64K – $443K including a $35K franchise fee, 3.0% ongoing royalty.
- RETURNSThis franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that.
- RISKVerdict B (Above average), verdict score 50/100 (higher is better).
- GROWTHPositive: net +5 franchised outlets in the latest year (5 opened, 0 closed) (Item 20).
- LEGAL14 litigation matters disclosed in Item 3, higher than typical. Review the summary for patterns (franchisor-initiated vs. franchisee-initiated).
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Christie's International Real Estate, LLC
- Parent company
- At World Properties, LLC
- FDD Item 1, page 8 of the 2026 FDD
- Ultimate parent
- Compass, Inc.
- FDD Item 1, page 8 of the 2026 FDD
- Predecessor
- Christie's Great Estates Inc. (prior to 2011); Christie's International Real Estate, Inc. (2011-Dec 2021)
- Prior franchisor entity
- CEO title
- Co-CEO
- Michael Golden
- Incorporated in
- Delaware
- HQ
- 806 N. Peoria St., Chicago, IL 60642
- Auditor
- PricewaterhouseCoopers LLP
- Audited financials
- Franchisor revenue
- $7.0B
- vs $5.6B prior year
- Management churn noted
- Frequent turnover
- Item 2 disclosed frequent executive changes
Same owner · FDD Item 1, page 8
7 other brands on this site name Compass, Inc. as parent or ultimate parent in their own FDD.
- @propertiesC
- Better Homes and Gardens Real EstateD
- CENTURY 21®B
- Coldwell BankerB
- Coldwell Banker Commercial®B
- CorcoranB
- Sotheby’s International RealtyB
Grouped by the owner's name as each filing prints it (this page: the 2026 FDD). Spelling variants of the same group may be listed apart; a brand is never grouped with an owner its filing does not name.
Overview
About
- CEO
- Michael Golden
- Headquarters
- IL
- Founded
- 1995
- FDD year
- 2026
- States available
- 24
Can you afford it, and what does the money buy?
Entry cost runs 91% above the typical real estate franchise.
Source: FDD 2026 · Items 5–7
FDD Item 7 · 2026 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $35K | $35K |
| Working capital (3–6 mo) | $5K | $90K |
| Equipment, build-out, other | $24K | $318K |
| Total initial investment | $64K | $443K |
Source: Christie’s International Real Estate 2026 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $64K – $443K
- Middle of category vs category
- Liquid capital req'd
- $5K – $90K
- Top 40% of category vs category
- Franchise fee
- $35K – $35K
- Middle of category vs category
- Royalty
- 3.0%
- typical 6–8%
- Ad fund
- 0.0%
- typical 3–5%
- Total fee load
- 6.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 3.0% of gross sales |
| Marketing / ad fund | 0.0% |
| Technology fee | $150 |
| Transfer fee | $5K |
| Renewal fee | $1K |
| Inventory (initial) | $5K – $10K |
| Total fee load | 6.0% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Christie’s International Real Estate makes no financial performance representation in Item 19 of its FDD - a voluntary item under the FTC Franchise Rule - so no unit revenue figures are disclosed. The return models need a revenue figure to start from, and the operating costs that turn gross sales into a profit are in no FDD. Enter your own and the calculator runs on your assumptions — nothing here is modelled until you do.
Returns model · single-unit ROIC
What would one Christie’s International Real Estate unit return on the cash you put in?
Illustrative category typicals — not sourced to any filing, survey or sample. Replace them with figures from franchisee validation calls before you rely on the output.
Unlevered ROIC · per unit
Your modelled return on total invested capital, before any debt financing.
—
An FDD discloses gross sales, not profit. We hold no sourced figure for annual revenue, COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
These models are for research and scenario planning only. Not investment advice. Actual results depend on your specific location, management, and market conditions. Consult a franchise attorney and accountant before signing any franchise agreement.
Item 19 · Source: 2026 FDD
Financial Performance
No financial performance representation
This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that.
Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Fee burden
Total ongoing fee load of 6.0% — below the Real Estate median of 7.5%.
Disclosure
This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Operator retention
System roughly stable (0.0% 3-year CAGR) with 40 units.
Source: FDD Item 19 financial performance representations and publicly filed FDD data. Past performance is not indicative of future results. Verify all figures with the franchisor and current franchisees before making any investment decision.
vs Real Estate medians
How Christie’s International Real Estate Compares
Category median of published Real Estate brands that report the figure; the middle half spans the 25th to 75th percentile and n counts the brands behind it. Medians are used because a few very large systems pull an average far from the typical brand. Revenue is disclosed gross sales, not profit.
Is the system healthy?
Source: FDD 2026 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 40
- Opened
- 5
- Last reporting year
- Closed
- 0
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- N/A
- Company-owned
- 2
- Corporate units in the system
- % franchised
- 95%
- vs corporate-owned
- Net growth (3-yr)
- +0.0%
- Net unit change over 3 years
- 3-yr CAGR
- +0.0%
- Compounded over last 3 years
Last fiscal year · Item 20 exits and transfers
- Terminated
- 0
- Not renewed
- 0
- Transferred
- 0
- Reacquired
- 0
- Franchisor bought back
- Termination rate
- 16.7%
- Franchisor-initiated terminations
- Ceased ops
- 16.7%
- Units that stopped operating
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 19 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator. Not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
Where the owners are · Item 20 owner list
30 current owners across 20 states.
- FL 4
- NC 3
- SC 3
- CA 2
- ID 2
- TX 2
- CO 1
- GA 1
- KY 1
- MA 1
- MD 1
- MI 1
- +8 more states
Counts only, from the list the franchisor prints in Item 20; 4 entries carry no state. Names and phone numbers are for your own due diligence and are not shown here.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
No SBA loan data available for this brand.
What could kill this investment?
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
A contracting luxury real estate franchise facing significant antitrust and fraud litigation with undisclosed financials, making risk assessment and ROI validation impossible.
Litigation (Item 3)
Subject: the franchisor is a named party (defendant).
Six antitrust putative class actions (real estate commission/listing practices, several settled via Parent/@properties/Compass nationwide settlements) plus six other pending actions including broker-related tort suits, an Anywhere-Compass merger shareholder litigation ($450,000 settlement), Batton II antitrust case, and a Zillow v. Compass/MRED antitrust suit.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · PricewaterhouseCoopers LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Item 21 attaches the audited consolidated financial statements of the parent and guarantor Compass, Inc. (PwC; in millions) for the year ended December 31, 2025 - revenue $6,961.6M, net loss $(58.7)M, total assets $1,539.5M, total liabilities $752.2M, stockholders' equity $787.3M - and, separately, the FY2024 statements of the affiliate Christie's International Real Estate Management, LLC (a $100,000 shell). All figures shown are Compass, Inc.'s.
ⓘ These are the parent company's consolidated financials (the parent guarantees the franchisor), not this brand's standalone results — the figure reflects the whole corporate group, not this brand alone.
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: No
- Must buy proprietary products: No
- Restricted to system-approved products: Yes
- Can negotiate own supplier terms: Yes
Score breakdown · what drove the 50 / 100 verdict
- 01MINORSystem contraction of 8.3% YoY (36 units) indicates shrinking franchise network and potential brand deterioration
- 02MINORMultiple class action antitrust lawsuits (Hooper, Burton, Friedman, March, Tuccori, Umpa) suggest systemic compliance issues and reputational risk that could impact agent recruitment and client trust
- 03MINORNo average revenue or net income disclosure (Item 19) prevents validation of ROI claims and franchisee profitability analysis
- 04HIGHHigh litigation exposure across property disputes (Stuart, Kjarsgaard, Aratlakov, Lyons) with allegations of fraud/negligence creates legal liability risk for franchisees
- 05MINORWide royalty range (3-6%) lacks transparency on which metrics trigger higher tiers, creating profit margin unpredictability
- 06MINORInvestment spread of $64,475-$443,125 (586% variance) suggests inconsistent startup costs and unclear break-even projections by territory
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 6.0% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2026 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 10 years |
| Allowed renewalsℹ | 1 |
| Territory type | Protected territory |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory sizeℹ | counties, zip codes, or other geographical designations (no fixed minimum size) |
| Online sales rightsℹ | Granted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 1 year |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 19 |
| Curable defaultsℹ | 11 |
| Mandatory arbitration | No |
| Arbitration location | Chicago, IL (mediation then litigation) |
| Jury trial waiver | No |
| Governing law | Illinois |
| Litigation count | 14 |
View Item 3 litigation summary
Six antitrust putative class actions (real estate commission/listing practices, several settled via Parent/@properties/Compass nationwide settlements) plus six other pending actions including broker-related tort suits, an Anywhere-Compass merger shareholder litigation ($450,000 settlement), Batton II antitrust case, and a Zillow v. Compass/MRED antitrust suit.
Items 10, 11
Training & Operations
- Classroom training
- 13 hrs
- On-the-job training
- 0 hrs
- Training location
- Chicago, Illinois (or virtually online)
- Ongoing training
- Required
- Field support
- 0 hrs/yr
- On-site visits per year
- Time to open
- 4 mo
- From signing to launch
- Site selection
- franchisor_consent
- Franchisor financing
- Offered
- Item 10
- POS system
- pl@tform
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: pl@tform
Item 20 · call current owners
Franchisee Contacts
34 owners to call
Name · phone · city · state. Extracted from FDD Item 20
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Christie’s International Real Estate franchise?
The total investment to open a Christie’s International Real Estate franchise ranges from $64K – $443K, with an initial franchise fee of $35K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Christie’s International Real Estate franchise owners earn?
Christie’s International Real Estate makes no financial performance representation in Item 19 of its FDD - a voluntary item under the FTC Franchise Rule - so no unit revenue figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Who owns Christie’s International Real Estate?
Christie’s International Real Estate is franchised by Christie's International Real Estate, LLC. Its parent company is At World Properties, LLC. The ultimate parent named in the FDD is Compass, Inc.. Source: FDD Item 1, 2026 filing.
What is Item 19 in the Christie’s International Real Estate FDD?
The FDD section where a franchisor may disclose financial performance of its outlets. Disclosure is optional and formats vary; figures are typically gross sales, which is revenue before expenses, not profit. FranchiseVerdict extracts these figures directly from the Christie’s International Real Estate FDD and qualifies whose outlets they describe.
What is Christie’s International Real Estate's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Christie’s International Real Estate (fewer than 10 loans on file). Charge-off rates are one way to gauge franchise risk, but not all franchise loans go through the SBA program. We recommend reviewing turnover and closure data in the FDD and speaking with current franchisees.
How many Christie’s International Real Estate franchise locations are there?
As of their most recent FDD filing, Christie’s International Real Estate has 40 total units in the United States, including 38 franchised units and 2 company-owned units. 5 new units were opened in the latest reporting year.
Is Christie’s International Real Estate a good franchise to buy?
FranchiseVerdict rates Christie’s International Real Estate as a B-grade franchise with a verdict score of 50 out of 100 (higher is better). The grade is a deterministic score built from six weighted dimensions — financial health, unit economics, unit growth, scale, legal, and transparency — then calibrated against SBA loan charge-off rates and FDD age. Transparency is one of the six, so a filing that discloses less scores lower on that dimension than one that discloses more. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.
Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.
For franchisors
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Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.