***Initial each page as you Read, Understand and Agree:***

Transcription

1 Independent Brokers Realty of South Florida, Inc. T/A Independent Brokers Realty 953 N. Collier Blvd. Marco Island, FL Office # Fax# Revised 09/02/2010 Independent Contractor Agreement Real Estate Salesperson This agreement, made the day of, 20, between (select one) Independent Brokers Realty of South Florida, Inc., t/a IBR (Board Required) Realty Experts International, Inc. t/a Realty Experts IBR Real Estate, Inc., t/a IBR (Referral Company) (No Board Required) hereinafter referred to as Broker, and, a Florida real estate licensee, hereinafter referred to as Salesperson and/or Agent. Broker is engaged in business as a Real Estate Broker in the Counties of Collier, Lee, Charlotte, Sarasota, Broward, Miami/Dade, & Monroe, Florida and others, and is duly licensed to sell, offer for sale, buy, offer to buy, list or solicit prospective purchasers, negotiate the purchase, sale or exchange of real estate, negotiate loans on real estate, lease or offer to lease, and negotiate the sale, purchase or exchange of leases, rent or place for rent, or to collect rent from real estate or improvements thereon for another or others, has and does enjoy the good will of and a reputation for fair dealing with the public. Broker maintains its main office in Marco Island, Florida, properly equipped with furnishings and other equipment necessary and incidental to the proper operation of said business. Broker, Marco Scola and Hans Haedelt, are the sole owners of Independent Brokers Realty of South Florida, Inc. and IBR Real Estate, Inc. and Realty Experts International, Inc. Salesperson is now and has been engaged in business as a real estate salesperson of a broker, duly licensed by the State of Florida, and has enjoyed and does enjoy a good reputation for fair and honest dealing, or Salesperson is now duly licensed by the State of Florida, and has enjoyed and does enjoy a good reputation for fair and honest dealing and will be initially licensed with Broker. Now therefore, in consideration of the premises and the mutual agreements herein contained, it is understood and agreed as follows: 1. Place of Business: It is agreed that the Salesperson s principal place of operation shall be either their home office or their independent office location, approved by broker. Salesperson may use broker s office as designated. ***Initial each page as you Read, Understand and Agree:*** 1

2 1. Term: This agreement is subject to termination by either party, anytime for any reason. Salesperson may terminate his/her relationship with any of our firms at anytime. Agents may take their real estate listings with them, if terminated, at anytime if they are on the 100% commission plan. You must stay on your selected commission plan for at least one year prior to switching to another plan with the exception of the referral program. The transfer is not automatic and the broker must approve all transfers. 2. Office Access: The Salesperson realizes that the facilities of the main office and any branch offices will be available during regular business hours only. Some after hour s office access will be permitted. When the office remains open after the office staff has left, it is the attending salespersons responsibility to secure the office. 3. Code of Ethics: The Salesperson agrees to read and be governed by the Code of Ethics of the National Association of Realtors, the laws of the State of Florida, and the by-laws of the local real estate board including any future modifications or additions. Salesperson agrees to obtain and make themselves knowledgeable of said Code of Ethics plus State, Federal and local laws. 4. Best Efforts: The Salesperson agrees to work diligently and with his/her best efforts to sell all real estate listed with the Broker and to solicit additional listings and customers of the Broker and otherwise promote the business of serving the public in real estate transactions to the end that each of the parties hereto may derive the greatest possible profit. The Salesperson agrees that brokerage fees for services rendered in the sale, rental, trade or leasing of real estate shall be those negotiated by and between the Broker, Salesperson and Seller and/or Buyer. 5. Commission Plans: Select Commission Plans: (SELECT ONE) 100% COMMISSION PLAN: $ per month, plus your MLS board fees. No Desk Fees. 100% commission paid to Agent. Includes E & O insurance. 80/20 COMMISSION PLAN: $ZERO per month, plus your MLS fees. No Desk Fees. 80% paid to Agent, 20% paid to Broker. Includes E & O insurance. REFERRAL PROGRAM: No fees whatsoever. Your License remains active. No monthly fees, No Desk Fees, No MLS fees and NO MLS requirement. All listings and buyers are referred to the broker. Agent receives 30% referral fee on all income derived from referral. We do all the work. Includes E & O insurance. The broker of this program is IBR Realty and Referral, Inc. If agent does the work on the file, Agent will be paid 60% of the commission received. CUSTOM COMMISSION PLAN: See Custom Commission Plan attached hereto. 6a. Transaction Fees: Agent & Client Transaction fees (see section 45) apply to each side of transaction, including referrals & agent owned property. 2

3 6b. Commissions: Commissions and transaction fees are due on any and all files/transactions, including agent owned property/ files, and paid according to agents contracted commission plan herein. Commission Bonus s and the like are all paid at the same contracted commission rate with agent. Commission is defined as all monies received for real estate services. 7. Expenses: The Salesperson agrees to promptly pay all his/her expenses incurred in the listing and selling of real estate. 8. Real Estate Office: Select Office and MLS/Board membership (SELECT ONE) MARCO ISLAND MAIN OFFICE 953 N. Collier Blvd. Marco Island, FL Required Membership in Marco Island Board of Realtors (MIAAOR) $30.00 MLS fees per month MLS site: MLS coverage areas: Marco Island and south Naples. No board association is required for Referral Company. NAPLES BRANCH OFFICE Required Membership in only Naples Board of Realtors (NABOR) $17.50 MLS fees per month MLS site: MLS coverage areas: Naples, Marco island, Cape Coral, Ft. Myers, Bonita Springs, Sanibel, All Collier & Lee county. No board association is required for Referral Company. FT. LAUDERDALE/ MIAMI BRANCH OFFICE Required Membership in only Greater Miami & the Beaches of Realtors $0 MLS fees per month. All of Miami and Broward and Dade County. PORT CHARLOTTE BRANCH OFFICE Required Membership in Pt. Charlotte Board (PGPCNPAR) MLS site: Mid-Florida Regional MLS. MLS coverage area: All of Charlotte, Lee, Sarasota county up to Tampa to Orlando and Daytona. FLORIDA KEYS BRANCH OFFICE Required membership in Florida Keys Board of Realtors, $30.00 MLS fees per month, , website: MLS coverage area: All of Monroe county, All of the Florida keys. FT. MYERS BRANCH OFFICE Required membership in Ft. Myers Board. 9. Board Membership: Select MLS Boards desired. (Select all that apply); Marco Island $30.00 per month Naples $17.50 per month Pt. Charlotte $35.00 per month Florida Keys $30.00 per month Miami - Ft. Lauderdale Ft. Myers 3

4 10. Unpaid Agent Fees: The Salesperson agrees to allow the Broker the right to withhold funds from commission checks earned by said salesperson to pay any unpaid expenses, fines, etc. incurred by Salesperson. Any unpaid monthly balances over 30 days late will have a $50 late fee added per each late month. Any agents that are 100% commission agents and have not paid their monthly agent fees for 90 days or more will be paid on a 80/20% commission split with broker whereby agent will receive 80% of the commission less any outstanding fees due broker. Salesperson is subject to termination for failure to pay fees after 90 days and their real estate license will be placed inactive with the State of Florida. Broker placing salespersons license in inactive status with DBPR shall constitute written notice of termination. 11. Brokerage Fee: The Salesperson agrees that they will not charge a brokerage fee in any transaction different from that negotiated by the Broker and/or Broker s clients without first obtaining the Broker s prior written permission. Agent will not charge excessive commissions other than what is standard in our industry for the type of property. 12. Services & Fees: The Salesperson agrees that all services performed by the Salesperson shall be remunerated solely by way of commission/referral fees herein above described as the commission split (or brokerage fee). Salesperson agrees they have received no minimum salary, sick pay, advances or draws against commissions. Salesperson agrees that in no case shall the Broker be liable to any Salesperson for any brokerage fee not collected nor shall any Salesperson be personally liable for any brokerage fee not collected. 13. No Schedule: Salesperson has not been required by Broker to maintain any specific schedule or attend any mandatory sales meetings nor is requested to follow special procedures other than policies established as to security, public relations, Association of Real Estate regulations and sound business practices. Salesperson may work as they see fit or not work if they choose. Salesperson is not obligated to have set office hours. Salesperson may schedule vacations as they please and otherwise be off work as they see fit. Salesperson agrees to find another salesperson within the company to cover his or her files and transactions while they are unobtainable. Floortime schedule is an exception and if salesperson is scheduled and fails to follow the rules as prescribed, agent will not be allowed future floortime. 14. Taxes: Salesperson is responsible for his/her own workers compensation, income and FICA taxes and any other Federal, State and/or local taxes. 15. Automobile Insurance: Salesperson is responsible for maintaining automobile insurance and other car expenses as dictated by the laws of Florida. Salesperson s automobile insurance company/policy is:. Salesperson will also be responsible for providing salespersons own automobile and is responsible for transportation expenses including insurance for property damage and personal injury to 4

5 third parties. Broker will be named as an additional insured on salespersons automobile policy. Salesperson is exclusively responsible to pay for their own automobile policy. 16. No Employee Relationship: The Salesperson recognizes that this agreement does not constitute a hiring by either party. The parties hereto, are and shall remain, independent contractors bound by the provisions thereof. Salesperson will not be treated as an employee with respect to any services performed. 17. Control of Broker: The Salesperson agrees and understands that she or he is under the control of the Broker. Salesperson must adhere to all requirements and rules established by broker in their effort to sell real estate. Failure to do so, agent will be subject to termination. 18. Brokers/Salesperson Relationship: The Salesperson agrees that this agreement shall not be construed as a partnership and that the Broker shall not be liable for any obligations or liabilities incurred by the Salesperson including but not limited to any physical accidents which may occur to Salesperson or his/her clients, customers, others or to the Salesperson s or other s property. The Salesperson understands and agrees that they hold no ownership position, claim, or portion of Independent Brokers Realty of South Florida, Inc., Realty Experts International, Inc., and IBR Real Estate, Inc. whatsoever no matter the duration of the salesperson s contract with such. Agent agrees not to put the company name on any agent liability whatsoever. 19. Documents Required & Fines: All transactions, documents & forms shall be filed with the Broker at the main office within 72 hours after receipt of same by the Salesperson from a client or customer, or other brokerage, agents, etc. This includes listings, sales contracts, agreement, referrals, rentals, addendums, etc. on behalf of buyers and sellers as well as any of the salesperson s personal real estate investments, and all related documents related to the transaction, even if no commissions are received. The salesperson understands and agrees that after the 72 hours, a $50.00 per day fine will be levied against the Salesperson for failure to comply for each file that is incomplete. If no file is generated at all until the date of closing, a charge of $1000 will be levied against Salesperson and this will be deducted from the commission. Burden of proof of all documents submitted shall be place upon the agent. Agents should keep copies of their fax transmittals, , etc. for proof that each document was submitted. 20. No Escrow: The Salesperson agrees that all ESCROW DEPOSITS must be delivered, not mailed-to an attorney or title companies escrow account IMMEDIATELY upon receipt of funds from client with a copy of a escrow verification receipt and copy of the check given to Broker. Failure to comply could result in the loss of your license, dismissal from the company and/or a $ fine by Broker & other possible fines levied by others, including but not limited to the State of Florida. All escrow Deposits should be made payable to any title company or attorney immediately. Salesperson must comply with escrow verification rules within the time prescribed and copies of such forms for each transaction must be in the file within our office. 5

6 21. Policies & Procedures: The Salesperson agrees to abide by all the Policies and Procedures of the company which are made a part of and attached to this agreement and is updated annually. 22. Active License: The Salesperson agrees that they shall not practice any real estate whatsoever until the Salesperson s license has been activated by the Broker. It is agents responsibility to keep their real estate license current and if it should become inactive or not current for any reason, agent will cease practicing real estate and notify broker immediately. 23. Arbitration: The Salesperson agrees that in the event of a disagreement between Salesperson and Broker with regard to this agreement to submit such disagreement to binding arbitration, if applicable. If another broker or firm refuses to pay a real estate commission on your file to us and you request us to file arbitration on your behalf, any salesperson transactions that go to mediation, arbitration or any legal process will be split 50% to Salesperson, 50% to Broker of salespersons commission, regardless of their current commission plan. All expenses will be prorated between salesperson and broker. 24. Errors & Omissions: The Salesperson agrees to promptly inform the Broker of any threatened legal action on any transaction and if deemed necessary by the Broker, to allow the Broker to escrow the E&O deductible ($ and is subject to change). In some circumstances, the deductible must be paid in advance and the agent is required to promptly pay such. If salesperson/ agent fails to pay the deductible within 30 days of request, Broker will be forced to pay such and salesperson/ Agent will be charged $ or twice the deductible. This sum shall be returned to the Salesperson if there is no legal action or no loss. Salesperson is covered by Brokers Errors and Omissions policy thereafter. Broker may deduct the above from salespersons commissions. 25. Advertising: The Salesperson agrees that all advertising, including but not limited to, properties for sale must be in accordance with all federal, state and/or local laws. All advertising, no matter the media, must be approved by the Broker PRIOR to being submitted for publication. All advertisements must have the brokerage name, main office telephone number and address of the brokerage as registered with DBPR at a minimum. If the Salesperson advertises a commission rate it must be 5% to 6% on homes, condos or lots. You do not have to advertise a commission rate and commissions are ALWAYS negotiable with customers. If a listing is taken for a total maximum of 5%, the coop broker payout will not be less then 2.5%. If a listing is taken at 6% or more, the coop broker payout will be 3%. Any deviation from this must be approved by the broker prior to taking the listing. 26. Transaction Fee/ Additional Commission Disclosure: Salesperson understands and agrees that a $ processing fee is charged to all ibr sellers and buyers.it is treated as additional commission. This MUST BE DISCLOSED. The Property Sales Closing Disclosure must be signed by all Sellers & Buyers and submitted 6

7 with each file. If our customer doesn t pay the $299.00, salesperson is responsible to pay Broker for it. Transaction fees are also due on any salesperson owned property. 27. Termination: This agreement shall be effective as noted in paragraph 1, page 1 and shall continue indefinitely but may be terminated at any time by mutual agreement or in writing by either party. The Broker placing salespersons real estate license in inactive status with the State of Florida, DBPR shall constitute notice to salesperson. Notwithstanding, the termination of the agreement, the parties shall be required to carry out any provisions hereof which contemplate performance by them subsequent to such termination and such termination shall not effect any liability or other obligation which shall have accrued prior to such termination including but not limited to any liabilities or loss or damage on account of default. Any and all salesperson pending transactions/files upon termination of this agreement will be split 50% to Salesperson and 50% to Broker of salespersons portion regardless of whether the salesperson terminates or the broker terminates and regardless of their commission plan. Listings from all commission split salespersons, upon termination of salesperson, are owned by the broker. If salesperson desires to take the listing with them to a broker other than IBR and its affiliates, salesperson must grant IBR a referral of twenty-five percent of the listing side of the commission for the period of time remaining under the original listing agreement and all extensions granted by the owner of the property. This provision is subject to the discretion and approval of the broker. After termination, any unauthorized access of any of the broker s offices and/or access to brokerage websites, assets, etc. by agent, IBR will exercise all its rights to enforce and protect its rights. All files are owned by the broker. Once agent has been terminated, agent must turn over all files, keys and client property to broker. Agent must insure that broker has a complete copy of all files and that they have been submitted to broker on time. Agent must notify broker in writing if they terminate their position with the company to stop MLS billings and fees that broker will incur on agents behalf. Agent will remain financially responsible for all fees incurred by broker. 28. Amendments: No amendments/additions to this agreement shall be binding unless in writing and signed by both parties unless herein otherwise provided. Upon reasonable notice in writing, the brokerage may amend the fee schedule set forth above by means of amendments hereto. 29. Governing Law: This agreement shall be governed in all respects whether as to validity, construction, capacity performance or otherwise by the laws of the State of Florida. Venue will be Collier County, Florida. 30. Agent Owned Property: Any and all agent owned property that is sold or transferred falls under the control of Broker. Violation is grounds for termination. Commissions and transaction fees are due on all files of agent owned property based upon salespersons commission plan. Salesperson must submit a complete file to broker within the appropriate time frame. A minimum of a two and a half percent commission is imputed upon each side of the transaction even if not listed or disclosed. Special arrangements can be made with Broker and are done so on a case by case basis. Agents who are advertising, listing and selling property owned by them in whole or in part, must 7

8 disclose to the public and/or person agent is purchasing from and/or person who agent is selling to, that agent is a Florida Licensed Real Estate Salesperson and/or Agent/Owned Property. Agent must comply with all Florida Laws regarding disclosure of agent s interest in real estate. Broker will consider any agent who sells real estate and fails to pay the broker commissions and/or transaction fees and turn in a complete file, theft of services and dealt with accordingly. Transaction fees are due within 15 days of closing of title. If transaction fees are not paid within 15 days, a fine will be added and assessed which will equal double the amount originally due. 31. Prior Claims/Suits/Complaints/Arbitration/Arrests and any threatened Action: Have you been involved in the past 5 years with a fact, circumstance, situation, act, or omission which might reasonably be expected to be the basis of a claim or suit against you. YES or NO. If yes, explain below. Salesperson must disclose to Broker in writing any complaints, arbitration, claims, suits, filed or threatened, of any kind against salesperson within 10 days of notice to salesperson. Agent will disclose all felony arrests and convictions in the previous 10 years to broker. 32. Explanations: 33. Subject to Change: This agreement is subject to change by the broker upon written notice to salesperson. 34. Compliance: Salesperson recognizes and acknowledges the obligation to keep abreast of all legal and other issues that affect the real estate industry as they change from time to time. Salesperson will not commit any act that violates Florida real estate law. 35. Fair Housing Act & other Federal & State Laws: Salesperson shall act in accordance with the Fair Housing Act and to keep updated on all changes to the law. Salesperson must comply with all Federal and State Laws that pertain to the real estate transaction. 36. License Renewal: Salesperson will be responsible for timely renewing salespersons real estate license and for completing all legally required continuing education in a timely manner and maintaining the records that evidence such completion as required by the Florida Real Estate Commission. Salesperson will be responsible for paying all license fees, membership dues and fines. 37. Property of Others: In accordance with Florida law, salesperson will deliver to Broker by the end of the next business day following receipt if any funds that a customer or client has entrusted to salesperson in connection with a real estate transaction, not otherwise placed in escrow with an attorney or title company. Do not accept any deposit or escrow deposit that cannot be deposited into an escrow/bank 8

9 account at a financial institution. No personal property of any customer or client will be accepted as a deposit or escrow deposit. 38. No Authority: Broker will not be responsible to salesperson or any third party for any expenses incurred by salesperson, nor for any of salespersons acts. Salesperson will have no authority to bind Broker by any promise or representation, oral or otherwise, unless specifically authorized in writing. Lawsuits, whether for fees or otherwise, against clients, customers and others in the real estate business will be maintained only in Brokers name. Salesperson will be responsible for all legal fees and costs associated with such and will further HOLD Broker HARMLESS for all costs. 39. Disputes & Legal Fees: If any dispute arises between broker and agent, agent will be billed and pay for brokers legal fees. If Broker commences litigation of any kind against agent or incurs legal fees of any kind as a result of agent and/or agents actions, or agent commences litigation, threatens litigation or causes broker to incur legal fees of any kind and for any reason, including but not limited to, dispute for fees, commissions, violations of any section of this agreement and/or its Policy & Procedure, etc, agent agrees to pay Brokers attorney s fees and all costs incurred and such fees may be deducted from agent s commissions by broker. Any attorney fees incurred will be deducted from any commissions due agent. 40. Indemnification: Salesperson will indemnify and hold Broker, its officers, directors, shareholders and employees harmless from all claims, demands, suits, costs, and expenses, including reasonable attorneys fees and costs to the extent based on salespersons representations, acts, omissions, negligence, willful misconduct, or violation of laws, rules, regulations, code of ethics, this agreement or Policy and Procedure manual, NOT COVERED BY BROKERS CURRENT ERRORS & OMISSIONS POLICY IN EFFECT. 41. Collection of Commissions: Broker will not be required to prosecute or sue any party in order to collect any fee for services performed by salesperson. However, if Broker incurs attorney fees and costs in the collection of or attempt to collect a fee, such amounts will be the split between the salesperson and Broker on the same percentage split as salespersons commission as agreed or as amended after termination. The salesperson incurs and is responsible for the attorney s fees and costs to collect such fee. (see Arbitration in No. 23 above). 42. Automatic Termination: Failure by salesperson to maintain active licensure status pursuant to Chapter 475 Florida Statutes will be deemed automatic termination. Salesperson will not, after termination of this agreement, use to his/her own advantage, or to the advantage or any other person or entity, any information gained from the business of the Broker relating to property for sale, lease or rental, or Brokers customers or clients. Upon termination of this agreement, salesperson will return all Brokers property to Broker with no copies made or retained by salesperson. 9

10 43. Confidential Information: Salesperson acknowledges that Broker may disclose confidential information to salesperson during the course of this agreement. Any such information that is or should be reasonably understood to be confidential or proprietary to broker, including mailing lists, customer and client lists, sales, costs, unpublished financial information, product and business plans, projections, marketing data, computer data, computer programs, and supporting documentation, and brokers policy and procedure manual are considered confidential property of broker. Salesperson will take reasonable steps and use due care during the term of this agreement and for 12 months after its termination to prevent duplication or disclosure of confidential information. 44. Fee Waiver: Broker reserves the right to waive the payment by salesperson of any or all of the fees, expenses and fines due to Broker under this agreement. The Broker s right to waive such fees and expenses is solely at the discretion of the Broker and will be made on a case-by-case basis. 45. Transaction Fees/ Additional Commission: The Transaction fee schedule is as follows: If you are on the 100% commission plan, then the agent pays 100% of the transaction fee. If you are on the 80% commission plan, then the agent pays 80% of the transaction fee. If you are on the 30% commission plan, then the agent pays 30% of the transaction fee. AGENT TRANSACTION FEES (per side) Sales Price Transaction fee $1 to $200, $ $200, to $500, $ $500, to $1,000, $ $1,000, to $2,000, $ $2,000, to $3,000, $ $3,000, to $5,000, $ $5,000, and above $ SALES AND RENTAL REFERRAL FEES Check Amount Transaction Fee Under $ % $ to $75.00 $ to $ $ $5000 to $ $ $10, to 20, $

11 $20, to 30, $ $30, to 40, $ $40, to 50, $ $50, to 75, $ $75, to 100, $ , and above $ CLIENT TRANSACTION FEE Sales Price All contracts (paid by client shown on HUD) Transaction fee $ per side Note: Transaction fees are subject to change & INCLUDE the Errors & Omissions PREMIUM. All seller and buyer clients of the company will be charged a $ Client Transaction fee per side of the transaction. This fee should be billed to the closing agent and reflected on the clients closing statement/hud. If client does not pay the client transaction fee, or agent fails to invoice the client at closing for the transaction fee, agent will be responsible for payment of such fee. If agent transaction fees are not paid within 15 days, salesperson will be assessed a fine equal to the amount of the transaction fees, plus the original transaction fees owed. If salesperson fails to submit a closing file and fail to pay the fees, salesperson is subject to termination immediately and an additional fine. 46. New Construction Policy. IBR does not pay any advance commissions on any file, to any agent, until there is a closing of title and transfer of ownership or possession on a lease. A majority of the builders and developers are paying advance, recourse commissions, which means they want the commission returned if there is no closing of title. See Policy & Procedure Manual. 47. Refer an Agent Program. If you refer another agent to IBR or Realty Experts, we normally provide an incentive to the referring agent (you). It varies from time to time. The program only applies if you refer a new 100% commission agent who pays monthly fees and that agent puts your name down when they sign up with the company or you come in with them when they sign up. In addition, the new agent must stay with the company at least one year. From time to time we advertise free agent fees to new agents that sign up. In no case will we pay both the referring agent and the new agents fees. In some cases we split the incentive between the new agent and referring agent. This program is subject to change. 48. Switching Commission Plans. If you change from the 100% commission plan to 80/20 plan or other commission split, any and all transactions that close title after the date of your transfer to your new commission plan will be paid at the new 11

12 commission plan. If you transfer from the 80/20 plan or other commission split plan to the 100% plan, all pending transactions and listings you have will be paid at the 80/20 or other commission split. Any new contracts or listings after the date of your transfer will be paid at the 100% commission rate. We do not allow agents to flip flop between commission plans to avoid paying fees. You must remain on the commission plan for at least one year and all changes must be approved by the Broker. Switching plans is not guaranteed. 49. Harassment, Sexual or otherwise - Zero Tolerance Policy. Salesperson will refrain from harassing, sexual or otherwise, any employee, independent contractor, other salesperson, clients, customers, etc. of Independent Brokers Realty and/or any of its affiliate companies or any other person or company. If salesperson violates this provision and/or the company receives any complaints that anyone listed above was harassed, sexually or otherwise, salesperson will be terminated immediately. If salesperson is harassed, sexually or otherwise, by an employee, independent contractor, salesperson, client, customer, etc. of the company, salesperson shall immediately notify broker, in writing of such. Appropriate actions will be taken immediately to remove the harassment. 50. Salespersons Work Product. Salesperson understands that they must work on their own files from beginning to end to obtain and earn a commission. Salesperson further agrees and understands that you cannot rely on broker and/or owners of the company to do the work for you. If you cannot perform all the necessary duties and/or steps in the real estate transaction with your client and broker has to perform those duties for you, salesperson will be charged at the very least a referral fee of twenty-five percent in addition to salespersons commission split. Salesperson understands that they may be charged more than a referral fee on their file if salesperson does not complete the majority of work and/or duties on such file. 51. Agent Teams/ Employees of Agents. Agents who start their own team and share in the commissions of agents hired on their team, along with any employees hired for their team, shall be financially responsible to the Broker for any and all expenses and/or fees incurred by them and unpaid to Broker. Agent team owners understand that they are solely financially responsible for all employees of the team hired by them with regard to Federal and State taxes, insurance, workers compensation, etc. Agent team owners understand and agree that Broker or Brokerage is not responsible for employees of the agent. The employees hired by the team report to the agent and the brokerage has made no promises of employment whatsoever to employee or to agent team owner. Agent understands that Broker can mandate and demand that agent terminate their employee and remove them from Broker s offices if Broker deems employees actions are inconsistent or violates Brokers rules, regulations, policies, State or Federal laws, or otherwise holds themselves out in any type of unprofessional or inappropriate manner. The broker may, at its discretion, terminate all agents under a team for the violation of one of its team members. Team owners will be required to pay all expenses incurred with their team. Team expenses will be deducted from gross team commissions by broker. 12

13 52. Professionalism and Ethics. Agents must hold themselves out in a professional and ethical manner to other agents, other agents of the company, and to the public. Failure to do so can subject the agent to termination from the company. Agents in no way will hold themselves out as the registered broker of the company or as any partner or owner of the brokerage. Agents may be subject to termination for Ethics violations and/or convictions by any Board of Realtors that the broker deems not in the best interest of the brokerage. 13

14 Having read, understood and agree to be legally bound to the above Independent Contractor Agreement, including its Policies and Procedures, I agree and freely sign this document and request Broker to activate my real estate license. Broker will not activate your license unless you agree to all of the terms and conditions set forth herein. Independent Brokers Realty of South Florida, Inc. IBR Real Estate, Inc. Realty Experts International, Inc. Date Marco Scola, President, Licensed Real Estate Broker Date Salesperson Signature *** PLEASE PRINT CLEARLY *** Salesperson Print Name FL Real Estate License No.# Home Address: City State ZIP Phone Number Fax # Cell Phone: Website: Social Security Number: Additional Information: PLEASE ATTACH OR FAX A COPY OF YOUR REAL ESTATE LICENSE Have you been referred by any of our agents? 14

15 Additional Contact Information Marco Scola, Principal Broker/Owner Direct Hans Haedelt, General Manager/Owner Direct: Independent Brokers Realty of South Florida, Inc. t/a Independent Brokers Realty IBR Real Estate, Inc. t/a Independent Brokers Realty Realty Experts International, Inc. t/a Realty Experts Main Office: 953 North Collier Blvd. Marco Island, FL Office # Fax# Branch office 2148 Tamiami Trail North Naples, FL Office # Office Manager IBRhomeOffice@aol.com IBRmanager@aol.com Agent Logins page 15

16 (unless superseded) Policies and Procedures Manuel For Independent Brokers Realty of South Florida, Inc. IBR Real Estate, Inc. Realty Experts International, Inc. 16

17 SALES POLICIES AND PROCEDURES: This Policy and Procedure Manual is updated each year and each agent is bound and obligated to it and its new terms as amended. A copy of this manual is always available in each of our offices and a copy is supplied upon request. An updated copy is always available online at When you list a property including salesperson s own property: 1. Turn in a file at the main office within 72 hours, which must include: a. Original signed listing contract, any addendums, etc. b. Property Sales Closing Disclosure, must be signed. c. new file information sheet, showing instructions, phone numbers. d. Seller s Disclosure if a home or condo e. Homeowner Association Fee Disclosure f. Other documents i.e. sellers disclosure, lead base paint forms, etc. 2. Enter your listing onto the MLS computer system (put a Y for yes in the variable/dual rate commission when applicable), install sign, put on key box if applicable, put together the brochures, ads and marketing. Failure to do so salesperson will incur fines from the company. When your listing sells: 1. Deposit the Escrow deposit IMMEDIATELY into an attorney s or title companies escrow account and give a copy of escrow verification receipt & check to the Broker. Do not mail!! It is urgent. It s the law that the closing agent immediately receives the escrow funds. Broker doesn t have an escrow account. Complete Escrow verification forms and provide copy to broker. 2. Fill out the remainder of the New File Information sheet. Give the sales contract, copy of the escrow check and New File Information sheet and all required documents to our main office and to the closing agent (picked by the buyer) ASAP. Be sure to bring the $299 processing fee to the closer s attention as it comes out of the customer s proceeds as you have already disclosed to them. Keep in touch with the closing company to ensure all is okay. 3. Enter your listing as pending in the MLS computer as soon as it sells. When your listing closes: 1. Remove the sign, key box if any. 2. Enter your listing as sold in the MLS. 3. In order to get paid, you must bring to the main office: a. The settlement statement from closing (HUD statement) 17

18 b. The commission check from the closer c. Main office will create a file upon your submission of the file documents when the listing was taken and the file must be complete with all needed documents prior to a check being distributed to the Salesperson. If the file was never created and sent to the main office before you bring in the commission check, you will be fined $ which will be deducted from commission checks. When you sell another company s listing or salesperson is buying the property: 1. Turn in the file at the main office immediately after final acceptance within 72 hours which must include the sales contract, buyer broker agreement (if any), agency disclosure, Homeowners Association fee disclosure, copy of the escrow check, new file information sheet, Escrow verification forms, property sales closing disclosure and all other required documents. Get a copy of this information to whomever the buyer decides to use as their closing agent. Failure to do so, salesperson will incur fines from the company. 2. Check on how the clients loan is proceeding, do any necessary inspections and see how the transaction is going with the closing company. 3. You must turn in dead files to the office within 72 hours: Listings, Offers, Rentals, Contracts, etc. 4. In order to get paid, the main office must have all the necessary documents in their file. (See Checklist) The same rules apply whether it is your listing, another company s listing, or a property you are buying for yourself or a non-mls property you sell. If you come in for a commission check and no file has been previously submitted at the main office, you will be fined $ and it will be taken out of your commission. Any missing documents in your file will subject yo to a fine of $50.00 per day for each the document is late. 18

19 WHEN YOU HAVE QUESTIONS ABOUT ANYTHING, CALL THE BROKER. IF YOU CANNOT REACH THE BROKER, JUST THINK...INTEGRITY!! WHAT WOULD I WANT DONE TO ME IN THIS CIRCUMSTANCE?? Good Practice Being a Professional Agent You should copy everything. You should save everything. Use a check list to ensure you have everything you need. You should save all of your s from client, attorneys, agents, title companies, etc. You never know when you have to prove something to save your commission or yourself from being sued. When You Sell a Property Make a complete copy for the Office. Make a copy for yourself. Make a copy for the Client. Make a copy for clients Title Company or Attorney. Make a copy for clients Mortgage Company. 19

20 Checklist for documents needed at the office: When you are working with a buyer: Agency disclosure, if not Transaction Broker Property Sales Closing Disclosure & Sewer Disclosure if appl. New File Information Sheet Homeowner Association Fee Disclosure Sales Contract Other addendums, copy of escrow check, lead base disclosure, inventory lists, etc. Sewer Disclosure, if applicable Acknowledgement of Homeowner/Condo Documents Escrow Verification Forms When you are working with a seller: Agency disclosure, if not Transaction Broker Property Sales Closing Disclosure & Sewer Disclosure, if appl. New File Information Sheet Homeowner Association Fee Disclosure Listing Contract, any addendums, etc. Sellers Disclosure on all condos & homes. Not needed on vacant lots. Sales Contract Listing Price Change forms signed by the seller Other addendums, copy of escrow check, lead base disclosure, inventory lists, etc. (when you re listing sells). Escrow Verification Forms In order to get paid: All the above information. If a file is incomplete at closing, you will be fined which will be collected from the commission checks. Settlement Statement (HUD) Commission check from closing attorney or title company. You can mail or fax the file to our main office on Marco Island. You may the documents to Marcotreasures@aol.com or HansHaedelt@aol.com or IBRhomeoffice@aol.com and/or fax to # *** The above document list is not all inclusive. It is just a guide. See Checklist in office. 20

21 NEW CONSTRUCTION COMMISSION POLICY IBR does not pay any advance commissions on any file, to any agent, until there is a closing of title and transfer of ownership. A majority of the builders and developers are paying advance, recourse commissions, which means they want the commission returned if there is no closing of title. The company and its affiliates have instituted a new policy for any commissions paid as advance commissions for any new construction contracts prior to closing. A majority of the builders and developers are paying advance recourse commissions. Very few builders and developers are paying non-recourse commissions. It will be up to the agent to obtain a letter and/or a copy of the builders advance commission policy to determine if the advance commission is recourse or non-recourse and submit a copy along with each new construction file to the office. A recourse commission is where you have a contract on new construction to close at some future date and if the closing should not occur for any reason, the commission paid to the broker must be returned. With a non-recourse commission, if the contract does not close, the commission paid does not have to be returned. Builders paying advance recourse commissions view commissions as earned at closing. Builders paying advance non-recourse commissions view commissions as earned at contract with a ten percent deposit. We have contacted several real estate brokers in the State and the below policy is what the industry is now doing. The policy has been implemented by all of the brokers because of numerous loses by the brokers when the commission is recalled. IBR does not pay any advance commissions to any agent on any file until there is a closing of title and transfer of ownership. Therefore, in order to get paid an advance commission, the policy is as follows: OPTION ONE. The agent must obtain a Hold Harmless letter from the builder/developer holding our companies harmless (not liable) for the advance commission paid to our company and ultimately paid to the agent that is acceptable to broker. OPTION TWO. The company will accept the advance commission and place it in an interest bearing bank account and such will not be paid to the agent until the contract closes or when the commission becomes non-recourse. Interest will be paid to the company. If the above options are not possible, the advance commission check will be returned to the builder/developer to be paid upon successful closing of the contract. There are no exceptions to this policy. This policy is subject to change. 21

22 Agents Duties & Responsibilities The following applies to all Agents, both 100% plan and Commission Split Plan Agents: 1. All agents are responsible for their own MLS fees, association dues and license fees. 2. All agents are responsible for their own advertising costs, including business cards, stationary, letterhead, postage, postcards, mailings, newspaper advertisements, magazine ad s, etc. 3. All agents are responsible for their own listings, including providing their own yard signs, open house signs, Supra lock boxes, taking digital photographs and anything else necessary to maintain their listings. 4. All agents are responsible for their own virtual tours and that each agent must hire a virtual tour provider and arrange their own virtual tours for their listings. There are several providers. 5. All agents must input their own listings into the MLS system after their initial in office training. 6. Agents are allowed one color listing flyer in the office window at any one time, if space available. 7. All agents must pick up their office mail within a reasonable time. 8. All agents must send in a complete copy of their files within 72 hours of execution by the client. All State required paperwork must be included in the file within that time frame. 9. All agents must provide copies of listing change forms and/or listing price change forms signed by the client for every price change and or listing change on that file. This is required by the Realtor Associations and is subject to random audit. 10. All agents must keep a duplicate copy of each file, listings, contracts, etc. at their home in case documents are lost or misplaced. 11. All agents must maintain a complete file on each property owned by them in whole or in part. The file is treated no differently. All disclosures, listing agreements, change forms, etc., must be provided to our office within 72 hours. 12. All MLS/board agents have access to Planet Realtor Forms Online Gold. We will be glad to give you the initial training to get onto the website and access. Agents that 22

23 chose not to use Planet Realtor should keep a file of blank forms on hand. We have some forms in the office. 13. All agents unsure of the process should contact the office and schedule an appointment. This is just a summary of some of the important duties and responsibilities of our agents. 23

24 General Policies The downloading or viewing of illegal, pornographic or hateful material is not tolerated on brokers computers or in any of the brokers offices. Any violation is a basis for immediate termination from the company. No content may be posted on any real estate related website, agent owned or otherwise, without the written approval, review and consent of the broker prior to posting of such. Company files may not be downloaded to a salesperson s personal computer without the prior written approval of the broker. Any internet advertising campaign must be approved in writing by the broker prior to the submission to the public. Training is provided to every salesperson on a one on one basis when requested by salesperson. Broker may require salesperson to attend training classes at a third party or by broker or company s staff as needed. All salespersons shall wear proper business attire. Casual clothes are inappropriate during business hours. No Pets are allowed in any of our offices. (Pets owned by agents and/or clients). Office records and client files are the sole property of the company. Under no circumstance is it acceptable for salespersons to remove files from the office. The company does not assume any responsibility, except through its own negligence, for the security of vacant houses. It is necessary that each salesperson be accessible during all business hours. This is a full time profession, and if a client or customer cannot get in touch with the salesperson, they will find someone else to help them. That person may be another agent of the company or another company outside of our company. If Broker gets too many complaints from third parties, agent will be terminated. Original contracts and documents are to be sent to the office after signing. Salespersons are to keep a copy for themselves. All salespersons are to comply with all advertising requirements of the Florida Real Estate Commission and our company. Team leaders are responsible for their team, agents and employees. If any team members or employees fail to pay their fees, etc. to Broker, those fees will be the financial responsibility of the team leader. 24

25 IMPORTANT NEW ESCROW LAW AND REQUIREMENT ON EVERY CONTRACT The State has enacted strict Escrow Deposit Verification Rules with severe penalties. This puts additional steps, and requirements upon the agent and the broker. Effective Immediately, the ESCROW DEPOSIT RECEIPT VERFIICATION form must accompany all contracts and must be updated with each deposit paid on the contract and held with an attorney or title company Failure to have these documents in your file at our office within the prescribed time limits prescribed by us and the law, you will be assessed up to a $ fine from us for each occurrence. That s in addition to any State fines which are assessed, which are $5, per occurrence. No commissions will be paid whatsoever if your file is missing the deposit verification forms, etc. within the time periods, and any other missing documents. Here are the steps: 1. You must only use the Newest Contract of Sale. 2. You must have the escrow check at the time of the contract/offer and it must be noted on the contract where it is and signed off by the escrow agent. 3. You must have the Escrow Deposit Verification Receipt completed for each deposit under the contract (initial deposit, second deposit, etc.) 4. The escrow agent must sign the form and supplied to our office under the time required below. You can find blank forms and the instructions in both the Naples Office and the Marco Office and on Requirements by you: 1. When a contract or offer is presented. You must write on the contract where the escrow deposit is and get a receipt/signature on the contract by the escrow agent. 2. Within 2 days, you must send a request for the escrow verification to the escrow agent to obtain a written confirmation that the escrow deposit has been received by the title agent. We will provide you with a blank form. We need a copy of this request and the fax confirmation in your file at the office. 3. Within 7 days of that, it is your responsibility to obtain the written confirmation/verification from the escrow agent. This letter must be in the file at the office. 4. Within the 7 days above, after you receive the escrow verification signed by the escrow agent, or their letter confirming deposit of escrow funds, you must then provide a copy to the escrow verification letter to the other realtor or sales agents 25