Fee and Commission Split Agreement
Initiation and Setup: $20 Non Refundable
Includes Email, Fax, 500 Biz Cards, Door Access Card (replacement each @ $25USD)
Option A 100% Gross Commission for own leads Initial:______
Option B 75-25% Gross Commission for own leads until 3 closed transactions
100% Gross commission thereafter. Initial:______
For Option A or B
Agent E&O: Circle one $20/mth or $109/6 mths or $199/Year Initial:______
Admin fee/txn: $395
Option C 100% Gross Commission for own leads Initial:______
Option D 75-25% Gross Commission for own leads until 3 closed transactions
100% Gross commission thereafter. Initial:______
For Option C or D
Agent E&O: ZERO ($99/yr E&O if no closed txn per each anniversary year) Initial:______
Admin fee/txn: $495
All Options: 1 GB stanfordrafflesrealty.com email (which can be forwarded to agent email)
Fax to email FAX NUMBER PROVIDED or agent can provide one
500 Biz Cards startup, additional 250@$15 250 extra cards FREE/closed transaction^
Signs are to be ordered from Deesignca.com 1.800.732.7446^
24/7 Use of premium office conference room, shared PC, internet and printing^^
Broker leads will be additional 30% Gross commission from all Options.
Volunteer Mentors will get 10% Gross commission from broker portion
$99 E&O insurance per closed transaction file payable by client or agent
Transaction Coordinator @ $99/transaction
Dedicated desk/PC or Additional marketing materials (signs, folders etc) can be purchased/rented separately.
All leases/referrals are 80/20% split.
Double ending both sides of a transaction is treated as 2 transactions.
Door Access Card is to be returned when separating otherwise $25 for card.
^Agents CANNOT use their own biz cards or sign template. All biz cards must be obtained from brokerage. All signs to be ordered from Deesignca.com. Agents cannot use business cards obtained from other places or with other designs. No generic signs are to be used. This is our Corporate Identity rule. Any agents found violating this rule will have to pay a penalty of $100 USD per occurrence. ______Initial
^^Office Conference Room, Shared PC, Internet and Printing are for official business only. Reasonable use only. Violation or abuse will be at $100 USD per occurrence. ______Initial
Car Insurance: Agent to provide proof of automobile insurance 100/300/100
BHGLAAR/SUPRA: Agent to join BHGLAAR for WINFORMS and CLAW for SUPRA and MLS.
START DATE:
Other:
1. All fees paid to Stanford Raffles Realty, Inc are not refundable.
2. A $50 late fee shall be applied to any monthly balance unpaid as of the 5th date due each month.
3. Sales Associate agrees to abide by and be bound by the Terms and Conditions of Stanford Raffles Realty, Inc Policy and Procedure manual.
4. This contract is effective as of date of hire and for a period of one year. All real estate sales/transactions must include a $ 99.00 fee for Real Estate Risk Management, to be paid by each client we represent or by the Sales Associate.
5. Commission Disbursement: Stanford Raffles Realty, Inc will only disburse commission to agent after receipt of commission check from Escrow OR directly from Escrow WHEN ALL documents in the transaction are complied, filed properly and cleared compliance.
6. Sales associate need to open up property file within 24 hrs of offer acceptance and to close the file within 48hrs of close of escrow. Any sales Associate who does not comply with these timelines will be subject to a $150 fine, taken out of the commission. Stanford Raffles Realty, Inc does not issue an advance of commission prior to receipt and clearance of any Broker Check made payable to Stanford Raffles Realty, Inc. Alternate direct pay from Escrow can be arranged however. Sales Associate will be paid after completed real estate file passes through compliance.
7. Sales Associate agrees that if for any reason the complete real estate file is not submitted to Stanford Raffles Realty, Inc within (14) fourteen days of settlement date, all commissions due to the Sales Associate for that file will be forfeited. In addition, any file, which has been reviewed by the Compliance department and determined to have missing or incomplete items, whose missing or incorrect items are not corrected or completed to the satisfaction of the Compliance department within (7) days receipt of initial request of needed items, will also forfeit all commission due on that specific incomplete real estate file.
8. The commission split will be calculated based on a total commission owed to Stanford Raffles Realty, Inc.
9. All transaction, including Sales Associate’s own/personal transactions are subject to all fees applicable.
10. Automobile insurance to indicate Stanford Raffles Realty, Inc as additional party insured.
11. Changes between Options can only be made ONCE a year and after first joining anniversary.
12. When Sales Associate leaves the company, Door Access Card must be returned or a replacement fee of $25 is due.
______
Sales Associate Signature Print Name Date
______
Broker Signature Print Name Date
COMMISSION OPTION CHOSEN A B C D
Initials ______