THIS AGREEMENT is made on the …………..day of……….20……., by the Broker, and the Associate-Licensee, (collectively referred to as “Parties” or individually as “Party”) and includes that Party’s successors and assigns.
This agreement shall be valid from the date of execution until termination.
and the transaction and the file are complete unless otherwise agreed. This amount shall be derived from their returns and subject to necessary deductions.
Recruitment: The Associate-Licensee may receive compensation for recruitment subject to the Broker’s terms.
Referrals: If the Associate-Licensee refers a client to another agent not employed by the Broker or receives a commission from another Broker, the Broker shall receive 10% of the amount, and the Associate-Licensee shall get the 90%.
Associate-Licensee Procured – PLAN A;
The Broker’s standard fee per closed real estate transaction -$495.00 or 10% (whichever is less) plus $135.00 risk management fee. In a standard transaction, the total commission paid by the buyer or seller exceeds $4,950.00, and the sales price is less than $1,000,00. For PLAN A, the Associate-Licensee will not be charged any sign-up, monthly, hidden, or other fees for performing typical real estate activity in California.
Nonstandard Broker’s Fee Per Closed Real Estate Transaction;
• Commission total is less than $4,950- 10%.
• Sale price exceeds $1,000,000- $495 plus $100 for every $100,000 if the amount surpasses $1,000,000.
• Dual transactions-$990 or 10% of the total commission, whichever is less. Plus $200 for every $100,000 if the amount surpasses $1,000,000.
• Associate-Licensee-Owned Property: $495 + $100 for each $100,000 if the amount surpasses $1,000,000.
• A gross real estate listing commission of 3.5 per cent of the acquisition price is the minimum required. The selling side cannot accept less than 1.5 per cent, while the buying side cannot accept less than 2%. The Associate-Licensee shall seek the Broker’s approval before varying any of the aforenamed percentages.
Risk-Management Fee/ E & O Insurance Fee;
It is deduced from the Associate-Licensee’s returns.
Failure to do this, the Broker will charge $100 plus $10 per day.
roper reporting by opening a new transaction, making changes, uploading documents, writing notes in the transaction file on the Broker’s Website, or emails updated status.
Plan Term: All plan elections will last 6 (six) months. The current plan will automatically renew for another 6 (six) months if the Associate-Licensee makes no election before the end of the 6 months. If Associate-Licensee changes plans, any real estate offers, listings, and contracts made during the prior plan’s period will be compensated using the salary and fees from the previous plan.
Listing: The Broker shall issue listings to the Associate-Licensee per their discretion.
Authority: The Associate-Licensee cannot bind the Broker in any transaction unless expressed in writing.
Advertisement; The Associate-Licensee shall not advertise without the Broker’s consent. The Broker is not liable for any advertising done by Associate-Licensee on its behalf.
Solicitation; The Associate-Licensee shall not engage in telephone solicitation where persons have their numbers registered on a national do-not-call registry.
Non-transfer;The Associate-Licensee shall not transfer or assign this agreement without the Broker’s consent, but the Broker may transfer or assign this agreement without the Associate-Licensee’s consent.
The Associate-Licensee may get their commission from escrow subject to submitting the completed transaction file three days before the escrow is closed.
Either Party may terminate this agreement at any time.
The termination of this agreement shall not discharge liabilities accumulated by either Party.
Any clauses intended to survive the termination of this agreement shall survive the termination of this agreement, e.g. payments of money owed or deductions owed due to unfinished work by the Associate-Licensee or expenses incurred to finish such work.
The relationship of the Parties hereto is that of an independent Contractor. Accordingly, the Parties hereto are not deemed agents, partners, or joint venturers of the others for any purpose due to this agreement or the transactions contemplated thereby. The Broker is not required to pay or make any contributions to any social security, local, state or federal tax, unemployment compensation, workers compensation, insurance premium, profit-sharing, pension or any other employee benefit for the Associate-Licensee during the term. The Associate-Licensee is responsible for paying and complying with reporting requirements for all local, state and federal taxes related to their payments under this agreement. Any worker compensation insurance taken by the Broker does not constitute an employer-employee relationship.
The Associate-Licensee agrees that any intellectual property and associated rights owned or developed by the Broker, solely or jointly with others, during the subsistence of this agreement, are the Broker’s exclusive property. The Associate-Licensee will enjoy a non-exclusive, limited use license of the Broker’s intellectual property during this agreement. This includes but is not limited to the Broker’s trademark logo and graphics. The Broker’s business practices are a trade secret; the Associate-Licensee shall not use it to their advantage or that of any other person unless otherwise agreed in writing.
Upon the expiration or termination of this agreement or demand by the Broker, the Associate-Licensee will return to the Broker any property, documentation, records, or confidential information which is the property of the Broker and shall discontinue use of any of the Broker’s property, e.g., trademark logo and graphics.
Arbitration shall resolve any dispute under this agreement. Nothing in this section shall be construed as limiting the Court’s jurisdiction.
The Associate-Licensee’s shall not at any time disclose, directly or indirectly to any other person whatsoever (including to the public or any section of the public) any information concerning this agreement or any additional information of any nature whatsoever concerning the Broker, whether such information or matter is stated to be confidential or not, without the express written permission of the Broker.
The provisions of this agreement are severable. If any provision is held to be invalid or unenforceable, it shall not affect the validity or enforceability of any other provision.
This agreement constitutes the entire agreement between the Parties. It supersedes all prior oral or written agreements or understandings between the Parties concerning the subject matter of this agreement.
Parties may alter this agreement subject to a written document signed by all Parties.
Except where otherwise provided, failure by either Party to enforce any of these terms or conditions shall not be a waiver of their right to enforce them.
This agreement may be executed in counterparts, each of which shall be an original, all of which shall constitute the same instrument.
The article and section headings in this agreement are for convenience; they form in no part of this agreement and shall not affect its interpretation.
The Parties will exercise utmost good faith in this agreement.
If any ambiguity is found in the agreement, the Parties shall issue any necessary clarification.
Parties shall be served through the following addresses; either Party may change their addressees by reasonable written notice given to the other Party.
BROKER: 1429 S Wilshire Ave, Mountain House, CA 95391, Phone: (925) 984-6606, Rizwan.email@example.com
This agreement shall be governed by the California State Laws, excluding its conflict-of-laws principles.
IN WITNESS WHEREOF, the Parties have executed this agreement, as set below.
Signed by the BROKERSignature: ……………………………………………….Name: ……………………………………………………Designation: ……………………………………………Date:………………………………………
Signed by the ASSOCIATE-LICENSEESignature : ………………………………………………Name: ……………………………………………………Date:…………………………………………….……
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