SALES AGENT BROKERAGE AGREEMENT
This AGREEMENT is between Best Choice Realty Referral Network referred to as (“Company”) and (“BCRRN”), and Real Estate Agent/Broker (“Sales Agent”), effective upon the Start Date/Effective Date signed by Sales Agent.
Company retains Sales Agent as an independent contractor to list and sell real estate under the auspices of the Company’s designated broker’s license, and through the office location and virtual facilities that Company presently maintains. The parties agree that Sales Agent is an independent contractor and not an employee of the Company. Company will have no responsibility to wages or salary, and to withhold or pay any income or federal taxes on commission sales compensation or to provide any health insurance, retirement, or other employee benefits to Sales Agent.
TERM. This agreement creates an “AT WILL” relationship that either party may terminate at any time with or without cause upon twenty-four (24) hours written notice to the other party. Upon termination of this Agreement, the Sales Agent license will be inactivated with the Washington State Department of Real Estate Licensing.
Earned Commissions. Termination of this Agreement will not divest either party of his, her or its rights to any sales commission, which was earned prior to notice of termination. A commission is earned for this purpose when a property is sold or when a written legally binding commitment to sell comes into existence, subject to closing of the sale. Company reserves the right to retain any sales commissions derived from a written binding commitment to sell comes into existence after termination date.
Listings and Documents Property of Company. All listings agreements, files, and client documents are and shall remain the exclusive property of the Company. Upon termination of this Agreement, Sales Agent shall immediately turn over to the Company all listing information and listing contracts, keys, purchase and sale agreements and similar contracts, buyer brokerage information and contracts, and other property belonging to Company. If a particular real estate sale listing has been assigned to Sales Agent, the Company may reassign listings to other sales agents when this agreement is terminated. Sales Agent shall not engage in any practice or conduct, directly or indirectly, which encourages, entices or induces clients of the Company to terminate any legal business relationship with the Company, unless the Company, in its sole discretion, conditionally release a real estate listing to the Sales Agent upon mutual written agreement between Company and Sales Agent.
Databases and Information Property of Company. All files, documents, database (including but not limited to contracts, sales comparables, property analysis, website, technology, proprietary business processes, lead generation and layouts) are the property of the Company and Sales Agent acknowledges the same are protected trade secrets of Company. It is understood and agreed that any unauthorized use by Sales Agent or gained through Sales Agent will subject Sales Agent to liability for compensatory damages and/or injunctive relief to the maximum extend allowed by law.
OBLIGATION OF SALES AGENT
Conduct of Business.
In conformance with his or her independent contractor status, Sales Agent is not required to maintain specific hours, or to be present in the offices of Company, while Sales Agent is conducting business in the form of securing listings and/or selling real estate. Sales Agent will conduct his or her activities in an appropriate manner and will regulate his or her habits to maintain the goodwill and reputation of Company. Sales Agent agrees to comply with all state, local, and federal laws, regulations, and ethical and professional standards applicable to real estate licensees and will act in a manner consistent with the generally accepted standard of care for the real estate profession in Washington.
Automobile. Sales Agent will furnish his or her own automobile, and pay all expenses connected with it. Sales Agent must always have automobile insurance with a minimum combined coverage of $100,000.00, and a valid driver’s license. The policy must cover duties as a real estate agent. Please consult with your insurance agent for your insurance policy requirements.
Licensing. Sales Agent will remain continuously licensed as a Real Estate Agent/Broker, will pay the required licensing fee(s) to Washington State Department of Licensing, and pay all fees to become a member of a local Multiple Listing Service, Realtor organization and local associations if applicable, and to comply with all requirements for continuing education, and abide by all other regulations of the licensing authorities. Failure on the part of the Sales Agent to maintain his or her license in good standing shall be grounds for immediate termination of this independent contractor relationship. In which case, all transactions become property of the Company.
Receipt of Money. Sales Agent will immediately deliver to Company all money, documents, or property received by Sales Agent concerning any transacting within the course and scope of this Agreement. All checks or orders for money received by Sales Agent will be made payable to either: (i) a title insurance company (ii) an escrow holder; or (iii) other assignee previously approved by Company in writing. Company will not be in possession of the earnest money deposit. Receipt for earnest money deposit will comply with the Real Estate Purchase and Sale Agreement.
Forms. Sales Agent will only use Multiple Listing Services (MLS) forms, Commercial MLS (CBA) forms and transaction processes approved by the Company.
Complete File. Sales Agent must provide Company with the following completed forms for each transaction in order to complete the file: (1) All signed purchase and sale agreements and addendums, (2) All earnest money receipts, (3) Closing or Final settlement statement, (4) Material correspondence such as emails that are pertinent to the file, (5) Form 17, if applicable, (6) Resale Certificate, if applicable, (7) Pump Report and Septic County certificate, if applicable, and (8) Well report of good water, if applicable. If Sales Agent fails to complete the file, Company may withhold the full yearly Errors & Omissions deductible from Sales Agent’s commissions for each and every incomplete transaction until such time the Sales Agent completes the file.
Dealing on Own Account. If a Sales Agent purchases or otherwise deals with real property on his, her or its own personal account without utilizing any services of the Company, Sales Agent shall not use the Company’s calling cards, letterhead, or otherwise hold himself, herself or it out as a Sales Agent of the Company and agrees to inform third parties to the personal sale or transaction in writing that he, she or it is not acting in any agency relationship with Company. Sales Agent must notify parties of the transaction that he or she is a real estate licensee. Sales Agents may only manage real estate residential property when they have ownership interest.
OBLIGATIONS OF COMPANY.
Compliance with Laws and Regulations. Company, through its designated broker, shall assist, supervise real estate transaction matters, and may remove, and or replace Sales Agent in any transaction that the Company determines, with reasonable cause; Sales Agent cannot successfully handle or negotiate. If Company finds it necessary to assist, remove, partner with or replace Sales Agent, Company will have the right to divide or offset commissions or fees that would have otherwise been due to Sales Agent from such transaction. Company will provide such review and supervision of documents prepared by Sales Agent concerning transaction as required by law and as commonly practiced in the real estate profession. The parties understand that such supervision will not affect the independent contractor status of the Sales Agent.
Offices. Company operates from virtual offices. In the event Company implements physical offices, such facilities will be available to Sales Agent, on a shared basis with other Sales Agents.
Listings. Company will procure and maintain listings for commercial lease and maintain listings for sale of real property, and the names of prospective purchasers, lessees and renters, which Company will make available to the Sales Agent at the discretion of Company. Sales Agents may take listings and shall provide originals to the Company.
Advertising. Company will provide advertising for its general real estate brokerage business such promotion and publicity as may be necessary and desirable at the sole discretion of Company. For detailed information refer to Exhibit “B” and “C.”
Worker’s Compensation Insurance. Pursuant to WAC code 296-17A-7202, real estate brokers are subject to Washington state Labor and Industries worker compensation. Company provides workers compensation insurance for the benefit of Sales Agent and Company will report thirty-six (36) hours worked per week (full time) to Labor and Industries, unless otherwise reported by the Sales Agent to the Company on the form accessible at: bestchoicerealtyjobs.com/reportmyhours. If Sales Agent wishes Company to report more or less than thirty-six (36) hours per week to Labor and Industries, Sales Agent must submit the form to the Company within thirty (30) days following the end of the reporting month (ex: November hours must be submitted no later than December 30th).
COMPENSATION. Sales Agent will receive, as full and complete compensation for services rendered to Company, a share of Company’s sales commissions as set forth in the Commission Agreement, attached hereto as Exhibit “A”, and incorporated herein for reference. Company reserves the right to change commission’s schedules at anytime, but this will not apply to pending transactions with a fully executed purchase and sale agreement.
No Withholding. Sales Agent warrants that he or she will make appropriate and timely provision for the payment of income and self employment taxes, and will indemnify and hold Company harmless from any taxes or penalties assessed the company concerning tax liability.
Multiple Sales Agents. If two or more Sales Agents participate in a transaction, or claim to have done so, Company, in its sole and absolute discretion, will determine the amount of the commission due each Sales Agent. A referral form will be used to communicate the commission earned.
Receipt of Commission. All commissions earned by Sales Agent, shall be wired to the Company, using the approved and current Wiring Instructions. Applicable wiring and banking fees assessed to the Company, shall be paid for by Sales Agent.
Time of Payment. The division and distribution of earned commissions will take place after Company has collected all revenue and commissions from the party or parties for whom the services were performed. Sales Agent must allow at least two (2) business days for the real estate sale commission check to clear into Company’s bank account, prior to delivery of payment to Sales Agent. Company may withhold payment of commissions, until Sales Agent has completed the office transaction file, and all required documentation has been reviewed and approved by Company. In no event will Company be liable to Sales Agent for Sales Agent’s share of commissions not collected by the Company, nor will Sales Agent be entitled to any advance or payment from Company upon future sales commissions. Sales Agent’s only remuneration is the Sales Agent’s share of the commission actually received by Company. If the sale commission is in the form of a promissory note or other evidence of indebtedness, Company will pay Referral Sale’s Agent his, her or it’s share of such commission as Company receives it in payment.
Rescission. If, because of litigation or otherwise, Company finds it reasonably necessary to return all or part of a sale commission to a client or customer after such sale commission has been received by Company (and a portion paid to Sales Agent), Sales Agent agrees to reimburse Company for his, her or it’s portion of the sale commission that Company has returned.
RISK MANAGEMENT. Company will control and will have the full and exclusive right to prosecute, defend, compromise or settle any disputes, mediation, arbitration, or litigation arising out of the acts or omissions of the Sales Agent concerning Company’s real estate brokerage business, including the prosecution of suits for commissions. Company and Sales Agent must mutually agree upon sharing of the costs of suits for commission, including attorneys’ fees, before the commencement of litigation. Sales Agent agrees that he or she will, whenever required, whether or not associated with Company, cooperate with the prosecution, arbitration, defense, compromise, or settlement of any dispute or litigation, including participation as a witness for depositions or trial, assisting in providing information to the attorneys for Company, at no expense for the time, inconvenience, or transportation of Sales Agent.
Dispute or Litigation. In case of dispute or litigation arising out of a transaction, the parties agree to share all expenses concerning the matter in the same proportion in which they would otherwise share the commission. In the event Company anticipates a dispute or litigation, Company may defer payment of Sales Agent’s share of the commission, or future commissions, until Company has made a settlement acceptable to Company.
Errors & Omissions. Company maintains Errors & Omissions Insurance that includes Sales Agent as insured. The Sales Agent shall pay and/or reimburse the Company for any insurance deductibles arising out of claims made against the Sales Agent.
Fraud. The parties understand that in no event will Company be responsible for intentional torts or fraudulent acts of Sales Agent. Sales Agent will be obligated to pay all costs and expenses of any such dispute or litigation, and any judgment resulting from any intentional tort not constituting simple negligence by Sales Agent; and, Sales Agent agrees to defend, indemnify and hold the Company harmless from any claims for intentional or fraudulent acts.
ATTORNEY FEES. In any action or proceeding involving a dispute between Company and Sales Agent arising out of the execution of this Agreement, whether for tort or breach of contract, and whether or not brought to trial, arbitration or final judgment, the prevailing party will be entitled to receive from the other party all reasonable attorney fee and costs, including expert witness fees, to be determined by the court or arbitrators.
CONSTRUCTION OF AGREEMENT. The parties acknowledge that each has had a full and fair opportunity to review and comment on the terms of this Agreement, including its applicable Exhibits: Exhibit A – Commission Schedule, Exhibit B – Marketing Agreement, Exhibit C – Marketing & Design Services Addendum, which are incorporated herein by this reference, and to obtain the advice of legal counsel. The fact that a party, or its counsel, prepared this Agreement will not cause the Agreement to be construed against that party. If the Company’s Office Policy & Procedures Handbook conflicts with the terms of this Agreement the terms of the Company’s Office Policy & Procedures Handbook will prevail.
NOTICES. All notices and demands will be in writing, either by personal delivery, overnight courier, and facsimile transmission or by email. The original will be subsequently delivered by other means, including but not limited to certified mail, postage prepaid and/or return receipt requested. Notices sent by certified mail will be considered received by the addressee five (5) days after deposit in the United States mail. Facsimile and email transmission will be considered received when receipt is acknowledged by facsimile or otherwise in writing. Other notices will be effective upon delivery. Unless either party receives notice of a change of address, notices will be addressed as set forth in the signature blocks or within the written communications.
DISPUTE RESOLUTION. This agreement shall be construed under the laws of the state of Washington. All disputes between Sales Agents and other Sales Agent (s) of the Company will be resolved by Company. All disputes between Company and Sales Agent shall be mediated by a mediator agreed upon by both parties, the fees for which shall be shared equally. Failure to resolve the dispute through mediation will result in the parties submitting the dispute to the American Arbitration Association. Each party to the arbitration agrees to share equally costs pertaining to the arbitrator, including filing and administrative fees. The prevailing party will be entitled to receive from the other party all reasonable attorney fee and costs, including expert witness fees, to be determined by the court or arbitrators.
NO HARRASSMENT. The Company is committed to maintaining a workplace free from all forms of harassment, including sexual harassment. It maintains a zero-tolerance policy for any form of workplace harassment or discrimination. The Sales Agent fully supports this policy and will not engage in harassing conduct. Workplace harassment includes unwelcome and offensive treatment or conduct (verbal, physical, psychological, or visual) that a reasonable person would find intimidating, hostile, or abusive and that unreasonably interferes with work performance. Harassment on the basis of race, religion, national origin, age (40 and over), sex (including pregnancy, gender identity, and sexual orientation), disability, political beliefs, marital, familial or parental status, genetic information, or reprisal is prohibited under federal and Washington state law, regulations, and policies. Harassing conduct includes but is not limited to: physical assaults or threats, offensive jokes, slurs, epithets, displaying objects, graphic materials, or verbal or written comments that are offensive to, or show hostility toward, an individual or group. The Company bears the responsibility for taking immediate appropriate action to enforce this policy when it becomes aware of incidents involving harassment. Preventing harassment is everyone’s responsibility. A report of harassment will be taken seriously and handled appropriately. The Company’s employees experiencing or witnessing harassment in the workplace have been informed to immediately report it to the Company’s manager. The Sales Agent, likewise, agrees immediately report in writing any experiencing or witnessing of harassment to the Company’s manager.
NON-SOLICITATION. Sales Agent agrees that during the term of this Agreement and for a period of twelve (12) months following the termination or expiration of this Agreement, Sales Agent will not solicit, recruit, attempt to recruit, or induce any of the Company’s employees, contractors, suppliers, to curtail or discontinue their employment, terminate their independent contractor agreements and/or business relationship with the Company whether directly or indirectly.
ENTIRE AGREEMENT. This Agreement and the Policies and Procedures Manual shall constitute the entire agreement between Sales Agent and Company and supersede and replace any previous agreements between the parties. There are no agreements or understandings concerning this Agreement which are not fully set forth herein.
THEREFORE, in consideration Sales Agent promises included herein, Sales Agent agrees to:
Abide by the real estate license laws of Washington in dealings with the public;
Abide by the Code of Ethics of the National Association of REALTORS;
Abide by the rules and regulations of the local Multiple Listing Service
Abide by the Constitution and Bylaws of the National and State Association of REALTORS, and those of the local Board of REALTORS;
Abide by the rules set forth in Broker’s Policies and Procedures Manual, said Manual being part of this agreement as though it were copied completely herein;
Deal honestly and fairly with all clients and customers of Company, as well as with the staff and management of Company;
Identify the Company as the listing broker in a listing, and turn in listing to Company within 48 hours after the property owner has executed the listing agreement;
Refrain from making any representations as to condition of property or of title that may, if relief upon, cause loss to a buyer. This includes statements about structure, electrical service, sewers, appliances, etc.; and
Pay for all professional licenses and dues;
The undersigned acknowledge that they have thoroughly read and approved each of the provisions of this Agreement. The parties hereto have signed and sealed this contract on the day and year first above mentioned.
This attachment, when executed, will become an integral part of the SALES AGENT BROKERAGE AGREEMENT. With respect to commissions received by Company, Company shall pay Sales Agent as follows during each calendar year (defined as the date which Sales Agent executes the SALES AGENT BROKERAGE AGREEMENT through December 31):
Independent Contractor. Sales Agent shall receive no wage or fixed salary or minimum guaranteed salary for contracted services. Broker Service Fee. Sales Agent agrees to pay a $45.00 fee monthly to the Company for Broker services. Company invoice for the fee will be issued to Sales Agent by the 5th day of each month and payment will be due by the 25th of such month. If not paid on the 25th, a late fee of $25.00 will be assessed to all late payments and interest will accrue at the rate of 1.5% per month. If Sales Agent terminates this agreement, this fee is non-refundable. The first payment for this fee will be billed on a pro rata basis from the date of this Agreement.
Sales Agent’s Earnings – 100% split on four (4) Transaction Sides per Calendar Year. A transaction side is defined is a transaction where the Brokerage/Company represents either the seller or the buyer. Dual Agency is prohibited by the Company for Sales Agents. Sales Agent’s earnings shall be 100% split of net sales commissions earned by Sales Agent. The 100% split is defined as the Sales Agent’s share of the total commission (including any bonus commission) paid for a closed transaction side, less fees due to the Company. This amount shall be referred to as the “Gross Commission Income” (GCI). The Transaction Fee is subject to change from time to time. Company will provide notice of such change thirty (30) days in advance.
Brokerage Transaction Fee Types. The following is a summary of Sales Agent compensation for acting as agent in a transaction. For answers to specific questions, please refer to Company’s Policies & Procedures Handbook.
Type of Transaction Fee
Standard Transaction Fee -For a standard buy/sell transaction side with a sales price of $100,000 or more, $595
80%/20% Split Fee – For properties with a sale price less than $100,000. 80% to Sales Agent, 20% to Company, not to exceed $595.00
Commission totaling over $100,000, Charged on any gross commission totaling $100,000 or more, 95% to Sales Agent, 5% to Company, not to exceed $14850.00.
Referral Fee – For referral commissions, $100.00
Commercial Lease Fee – Charged on commission earned from a commercial rental/lease, 10% of gross commission, not to exceed $595.00
Broker Price Opinion (BPO) Fee – Charged on commission earned for providing a BPO, 10% of gross commission, not to exceed $595.00
Other Fee – Charged on commission earned from consulting, wholesale, showing assistance, lease-up etc. 10% of gross commission, not to exceed $595.00
Property Management – Company does not allow Sales Agent to do Property Management.
Golden Hand-Off Program. Referral Fee from Sales Agent of Best Choice Realty Referral Network (“BCRRN”) to Sales Agents of Best Choice Realty (“BCR”). During the term of this Agreement, and after the split of transaction sides allowed per calendar year, Sales Agent will exclusively refer buyers or sellers to a designated BCR Sales Agent identified by the Company or documented by the Company on its Referral Form at bestchoicerealtyjobs.com/referral. Sales Agent will have no contact with the seller or buyer during the transaction and is merely a referring party to the duties as a Sales Agent and will have no contact with a referred client. Sales Agent shall receive 30% of all net commissions, fees, bonuses, and or compensation earned by a BCR Sales Agent’s by virtue of the referred client transaction (such amounts measured as Gross Revenue including credits, discounts or financial benefits issued to a client by BCR Sales Agent). Credits, discounts, or financial benefits are at the sole discretion of the BCR Sales Agent. Neither the Company nor a BCR Sales Agent owe any referral fee, until the referred client transaction closes and the gross commission from the transaction is paid. Referral fees are only owed to a Sales Agent for the commission, fees, bonuses, and or compensation earned by a BCR Sales Agent as a result of representing the referred client. The referral fee is owed even if the BCRRN Sales Agent removes their license affiliation and representation with the Company. A referral is defined as a referred client procured through BCRRN Sales Agent, all internet leads coming through BCRRN Sales Agent’s efforts, relocation sources, and on all database leads procured through the BCRRN Sales Agent and documented on Company Referral Form at bestchoicerealtyjobs.com/referral. In the event of a transaction side closing from another real estate firm as a result of a referral from BCRRN Sales Agent, earnings shall be 100% split of net sales commissions earned by BCRRN Sales Agent less fees due to the Company.
Earned Commissions on Transaction. A Sales Agent’s transaction commission is not payable, until the gross commission is received by the Company from the escrow/closing agent. A commission is not considered earned by a Sales Agent, until all transaction paperwork is completed, submitted, and approved by the Company’s designated broker or her designee. Upon receipt, the Company shall allocate the commission between the appropriate Sales Agent or Sales Agents of the Company who were involved in either the listing or the selling of the particular property. If more than one Sales Agent contracted with the Company were involved in the listing and/or the selling, then, in the absence of a transaction specific written agreement, the gross commission will be allocated equally between the listing and selling Agents. After the gross commission has been allocated, the Company shall withhold:
- Washington state B&O tax.
- Brokerage Transaction Fee – only applicable for the four (4) Transaction Sides completed by Sales Agent
- $35.00 as the agent’s contribution towards the errors and omission insurance.
- Applicable Wiring/Banking Charge for the transaction.
- Costs, any, incurred by Company; and Any Insurance Deductible on claim(s) made against the Company due to the Sales Agent. This deductible shall be reimbursed by the Sales Agent to the Company regardless of fault or lack of merit of the claim.
- The remaining portion of the allocated commission shall be paid to the Sales Agent.
Expenses Due Broker/Company. Sales Agent expressly agrees that Company may deduct from the commissions payable to Sales Agent as a withholding and/or set -off any portion or all fees, charges, expenses which have been billed to Company on behalf of Sales Agent or are otherwise due to Company by Sales Agent as authorized by the Sales Agent Brokerage Agreement.
Listings. When selling a property in which Sales Agent has any ownership interest, said property shall be properly listed with the Company at a commission to be negotiated with Company. Disclosure will be provided to all parties indicating that the Sales Agent has ownership interest.
Taxes. Company shall not withhold from Sales Agent’s commissions any amounts for federal, state or local municipal taxes, except Company shall collect and pay from commissions the applicable state B&O tax rate on all gross commission. Sales Agent shall pay his/her own self-employment taxes. For other services which Sales Agent may be called on to perform, he/she/it shall receive such compensation as the parties may determine.
Vendors. Company has established relationships with law firms, mortgage brokerages, title companies, and other vendors all whose contact information and services are available to Sales Agent on the Company’s resource site located at bestchoicerealtyjobs.com and on the BCR Broker Connections Facebook closed group. Sales Agents are not required to utilize this list of vendors and may suggest vendors to add or delete from this vendor list. Sales Agents shall establish their own relationships and will hold the Company harmless from these relationships.
Internet Advertising. Sales Agent agrees and understands that Company proactively markets Sales Agents using internet methods with Sales Agent’s name, phone number, and email. Company will compliment agent branding efforts, promote agent service area coverage and share relevant local information on company managed internet sites. All profiles will be completed in a professional manner with the intent of developing new prospects. This opted-in pre-authorization to market you professionally and on your behalf to expand your professional branding and promote expansive Real Estate services is at the discretion of the Company and may include internet services including but not limited to: Facebook, Instagram, Pinterest, Twitter, LinkedIn, Google Plus, Homesnap, Zillow, Word Press, and other similar internet marketing services. In the event Sales Agent resigns or is terminated, all above mentioned company marketing efforts will be assigned to another Sales Agent.
Software – Lead Routing System- Best Choice Realty Referral Network’s Technology System, Transaction Management, Company Emails
Marketing tools provided to Sales Agent at no cost: logo, standard sign design, standard letterhead design, standard business card design.
Photo & Video Release. Sales Agent grants permission to the Company the rights of their image, in video or still, and of the likeness and sound of Sale’s Agent’s voice as recorded on audio or videotape without payment or any other consideration. Sales Agent understands that their image may be edited, copied, exhibited, published or distributed and waives the right to inspect or approve the finished product wherein their likeness appears. Additionally, Sales Agent waives any right to royalties or other compensation arising or related to the use of the image or recording. Sales Agent also understands this material may be used in diverse educational settings within an unrestricted geographic area with no time limit on the validity of this release. Sales Agent understands this permission signifies photographic or video recordings may be electronically displayed via the Internet or in the public educational setting.
State & Firm Compliance. Sales Agent understands and agrees to adhere to the Best Choice Realty Brand Manual and Washington State Department of Licensing Real Estate Commission’s Guidelines for Internet Advertising and Social Media on the Internet.
MARKETING & DESIGN SERVICES ADDENDUM
This Addendum is attached to and forms part of the Sales Agent Brokerage Agreement (the “Agreement”) between Best Choice Realty Referral Network (the “Company”) and , Real Estate Agent/Broker (the “Sales Agent”) (collectively “the Parties”). The Parties entered into the Agreement on the effective date and have been conducting business, pursuant to the terms thereof.
The Company has a Marketing & Design department to aid the Sales Agent, at the Sales Agent’s option. The Company’s Marketing & Design department provides services as indicated on bestchoicerealtyjobs.com. For and in consideration of the mutual promises and covenants of this Addenda, the parties agree to modify the Agreement as follows:
RECITALS. The Recitals are true, accurate and incorporated into this Addendum by this reference.
MARKETING & DESIGN DEPARTMENT. Subject to terms of the Agreement and addenda, the Sales Agent desires to avail themselves of the Company’s Marketing & Design department commencing on the date of the Agreement.
COSTS AND FEES. In consideration of the Company providing marketing and design services to Sales Agent, Sales Agent agrees to pay the Company for any applicable costs and fees associated with a custom marketing or design project or any standard marketing and design service/product listed on the website. The Sales Agent hereby authorizes the Company to charge Sales Agent’s credit card on file or, alternatively at the Company’s sole discretion, to recoup said fees from the sales commissions due the Sales Agent, under the Agreement.
MARKETING & DESIGN DEPARTMENT EMPLOYEE STATUS. The Marketing & Design department are employees of the Company; and are not employees of the Sales Agent. Nothing in this Addenda shall be construed to give the Sales Agent any authority to hire, fire, discipline or otherwise act as manager or supervisor of the Company’s employees. The Company shall be solely responsible for personnel management matters relating to its employees of the Marketing & Design department and compensation of the Company’s employees. The Sales Agent shall have no liability to the Company’s employees for compensation for services rendered under this Addenda.
MARKETING & DESIGN DEPARTMENT EMPLOYEES HAVE NO AUTHORITY OR AGENCY. The Sales Agent acknowledges that the Company’s Marketing & Design department employees do not have authority to bind the Company to any agreement, contract, promise or representation made by the Marketing & Design department whatsoever. Only the Company manager has authority to bind the Company to any agreement, promise, representation or contract, or to modify the terms of this Addenda or the Agreement.
REPRESENTATION AND WARRANTIES OF SALES AGENT. Sales Agent hereby represents and warrants to the Company that all files, documents and written and verbal information provided by the Sales Agent to the Company’s Marketing & Design department shall be complete, true and correct, and accurate on the date provided to the Company’s Marketing & Design department. The Sales Agent understands that the Company’s Marketing & Design department will not edit the content of any file, document or information provided by the Sales Agent, nor does the Company accept any duty or responsibility to verify the information provided by the Sales Agent for its accuracy, completeness or compliance with disclosure laws. The Sales Agent hereby agrees to indemnify and hold the Company harmless from and against any and all loss, liability or damage, costs or expenses (including court costs and attorneys’ fees) resulting from any untrue representation, breach of this warranty or non-fulfillment of any covenant or agreement by the Sales Agent contained in any file, document or written and verbal information provided to the Company’s Marketing & Design department.
NO OTHER MODIFICATIONS. Except as otherwise provided herein, all terms and conditions of the Agreement shall remain in full force and effect; and are not otherwise modified. If there is conflict between this Addendum and the Agreement, the terms of this Addendum will prevail.
If yes to any of the following, a detailed explanation will need to be provided to the Company.
Have you ever been convicted of any felony, misdemeanor, or other crime OR has judgment or sentencing for a felony or misdemeanor been deferred? NOTE: Even though you may have entered into a plea bargain or pleaded “no contest”, or your conviction has been vacated, pardoned, expunged, dismissed or appealed, OR your civil rights have been restored, you are not relieved from answering “Yes” if “Yes” is the truthful answer. However, you are not required to answer “Yes” for minor traffic violations. DUI is not a minor violation.
Have you ever had any judgment, order or adverse administrative decision entered against you involving fraud, misrepresentation, dishonesty, or moral turpitude or involving the conduct of any business or transaction in real estate, cemetery property, time-share intervals, campgrounds or membership camping contracts?
Have you ever had any professional license or registration (including a real estate license) restricted, refused, denied, suspended or revoked, OR have you voluntarily suspended any license during the course of an investigation or disciplinary proceeding, OR had an administrative order entered against you, OR any other disciplinary action taken against any license issued to you, whether reprimand, censure, fine, or other penalty, by any state, federal, or other regulatory agency?
I hereby certify that all above statements are true and I have not knowingly withheld any fact or circumstance which if disclosed, would adversely affect my application. Additionally, I will notify Company within 7 days if this disclosure changes and there becomes a criminal record.
AUTOMOBILE INSURANCE ENDORSEMENT
All Sales Agents are required to provide the Company with proof of automobile insurance. Listing Best Choice Realty Referral Network as an additional insured party or additional interest on their car insurance is a best practice. The premium you are now paying will not be affected by this. All Sales Agents are required to carry minimum coverage. The minimum coverage you must be carrying is $100,000.00 (liability per person)/ $300,000.00 maximum liability amount/ $50,000.00 (property damage). However, Best Choice Realty Referral Network recommends adequate coverage to carry would be $250,000.00/ $500,000.00/ $100,000.00. Steps to follow when adding Best Choice Realty Referral Network as an additionally insured:
Call your insurance agent
Ask the insurance agent to add Best Choice Realty Referral Network as named Additional Insured
Request that a copy of this change and a copy of the coverage be sent to the Best Choice Realty Referral Network’s office at 15421 Main St E Suite B Sumner, WA98390
1. It is the responsibility of all Sales Agents to ensure that his/her license is kept current and is aware of the expiration date. If your license expires, is revoked or suspended, your independent contractual relationship will be terminated on the effective date of expiration, revocation or suspension and all real estate activities must stop, until your license is brought current with the Washington Department of Licensing. After all requirements are met by the state, you may be reinstated as an independent contractor Sales Agent and resume real estate activities as a Sales Agent.
2. A Sales Agent must be a member of a local Multiple Listing Service and pay all fees and dues related to this membership. Failure to pay required dues in a timely manner will result in termination of the contractual relationship with Best Choice Realty Referral Network (BCRRN).
3. Sales Agent has received an electronic copy of the Policies and Procedure and Brand Manual and understands these materials are available on at: bestchoicerealtyjobs.com
4. Sales Agent may close a maximum of four (4) transaction sides per calendar year as defined in the Commission Schedule (Exhibit A). Sales Agent agrees to refer the rest of his/her/its business to a licensed Sales Agent with Best Choice Realty (BCR). Company has no minimum expectation of sales volume for Sales Agent while licensed with the Company. Sales Agent understands that the Managing Member of Company owns and operates another brokerage firm, Best Choice Realty (BCR), with a minimum sales expectation of four (4) transactions closed each calendar year. To transfer to BCR, Sales Agent must obtain approval from the Company and execute a brokerage agreement with BCR.
5. All Sales Agents must turn in referral agreement forms, executed contracts and listing agreements within 48 hours of mutual acceptance. All other documents pertaining to the transaction should be turned in promptly upon receipt. In the event a Sales Agent submits a contract with insufficient time for Company’s review, Sales Agent must provide an explanation to the Company. Failure to respond to requests from the Company to provide these items and thirty (30) days has passed without Sales Agent providing an explanation to the Company, this Sales Agent Brokerage Agreement shall be considered in breach and Sales Agent will be subject to termination from the Company.
6. Sales Agent must refer home inspectors in compliance with Washington Administrative Code by turning in an inspector referral disclosure form (NWMLS form 41D) along with other transaction documents. Sales Agent must also have record of proof of delivery of the Law of Agency pamphlets and other disclosures provided to a client.
7. Any licensee affiliated with BCRRN that has been licensed for less than two (2) years must submit all brokerage service contracts and documents to the Broker for review within 48 hours before client’s signature.
8. Sales Agent acknowledges it is best practice to have an active uniform business license identification (UBI) number with the Department of Revenue of Washington for providing real estate services inside their home office.
9. Sales Agent is aware that all their personal property on Company premises must be insured by Sales Agent. Sales Agent acknowledges that BCRRN will not be responsible for the security or loss of Sales Agent’s personal property. Sales Agent acknowledges that many different office/ maintenance workers have keys to the Company office and security of personal items are at risk.