CONTRACT OF EMPLOYMENT BETWEEN REAL ESTATE BROKER AND REAL ESTATE SALES REPRESENTATIVE EMPLOYMENT AGREEMENT

Transcription

1 CONTRACT OF EMPLOYMENT BETWEEN REAL ESTATE BROKER AND REAL ESTATE SALES REPRESENTATIVE EMPLOYMENT AGREEMENT Agreement made, effective as of, by and between Esquire Realty of Harvard Suite C-557, Irvine, CA 92614, County of Orange, hereinafter referred to as Broker, and of, and County of, hereinafter referred to as sales representative. SECTION ONE STATEMENT OF ENGAGEMENT Broker is in the business of Brokering real estate and engages sales representative to perform services on a continuing basis pertaining to such business, which services are generally described as listing and representing buyers and sellers of real estate. (Herein referenced as Activity(ies) Sales representative agrees to perform such services under the terms and conditions set forth in this agreement. SECTION TWO RELATIONSHIP OF PARTIES A. The parties intend and agree that sales representative is an independent contractor and not an employee of Broker. B. Broker is interested only in the results obtained under this agreement; the manner or means of carrying out the Activity shall be under the sole control of sales representative, subject to the review of sales representative s Activity as may be required by the Calif. Code of Real Estate, ( DRE ), and the rules and regulations as may be required by the Calif. Department of Real Estate C. Sales representative shall comply with all laws and ethical standards applicable to real estate sales representatives and shall perform his/her duties in a manner consistent with generally accepted procedures for sales representative's profession. SECTION THREE DUTIES OF SALESPERSON A. Sales representative agrees to perform any and all services generally performed by sales representatives in Broker's line of business, including, but not limited to, soliciting and obtaining new real estate listings, performing such other services pertaining to the representation of buyers and sellers of real estate as Broker may require of sales representative, and promoting the business of serving the public in real estate Activity transactions to the end that each party to this agreement

2 may derive the greatest profit possible. B. Sales representative agrees that any and all real estate listings, and earnest monies shall be taken in the name of Broker and filed with Broker within twenty-four (24) hours of receipt by sales representative. All deposits shall be made payable to Esquire Realty for deposit to Broker s trust account. C. Sales representative also agrees to maintain and hold a valid real property sales representative's license or Brokers license throughout the duration of this agreement, and comply with all DRE continuing education requirements. D. Broker shall have no right except to the extent required by law to direct or limit sales representative's activities as to hours, leads, production, prospects, reports, sales or training meeting, scheduling, time off, vacation, or other similar activities. Sales representative shall use his own computer, cell phone, automobile. SECTION FOUR COMPENSATION A. As compensation for performance of sales representative's duties under and pursuant to this agreement, sales representative shall be entitled to a percentage share of commissions as follows: 1. Sales representative shall be entitled to 90% of each transaction commission and Broker shall be entitled to 10% of each transaction commission. Such compensation shall be based on commissions actually collected by Broker from real estate transactions originated and closed by sales representative during the effective period of this agreement and shall constitute full compensation for sales representative's services. 2. Sales representative shall pay to Esquire Realty, Inc. the sum of $150 per month payable on the first of each month, so long as this agreement is in effect. Said funds shall be used to cover expenses for sales representative social media, such as webpages, Facebook, LinkedIn, Yelp, land line phone,, fax, and support and used to cover the general overhead of the company. B. If two or more sales representatives participate in a transaction the available commission shall be divided between or among the participating sales representatives as reflected in the written agreement between the two or more sales representatives and Broker. In no event shall Broker be liable to sales representative(s) for sales representatives share of commissions not collected. SECTION FIVE DURATION OF AGREEMENT; TERMINATION A. Engagement of sales representative shall commence on the effective date of this

3 agreement and continue until terminated as provided in this agreement. notice. B. Either party may terminate this agreement by giving the other thirty (30) days' written C. If sales representative's engagement is terminated while transactions are pending in circumstances that would require further work normally be performed by sales representative, Broker shall make arrangements to have the work performed by another party and the costs incurred for such substitution shall be deducted from sales representative's share of the collected commission. D. Upon termination of this agreement by sales representative or Broker, sales representative will receive a full commission split for the first fifteen ( 60) calendar days after termination. From fifteen (61) to thirty (90) calendar days, sales representative will receive 75% of the 90/10 commission split. From thirty (91) to sixty (120) calendar days, sales representative will receive 25% of the 90/10 commission split. After sixty (121) calendar days all commissions will go to Broker. SECTION SIX EXPENSES A. Sales representative shall pay for all necessary expenses incurred in performing this agreement, including, but not limited to advertising, automobile payments and insurance, gas, cell phone, client entertainment, and other miscellaneous day to day expenses. B. Broker shall not be required to provide sales representative with an office. SECTION SEVEN INSURANCE A. Broker shall maintain Professional Liability Insurance which shall be paid from the $150 monthly payment referenced in Section Four Paragraph A(1). B. Sales representative shall maintain automobile insurance consisting of $100/$300 minimum liability coverage, and shall provide a copy of the certificate if insurance to Broker. Sales representative automobile insurance shall not be paid by Broker. C. D. Broker shall not provide health insurance, worker s compensation insurance and/or unemployment insurance to sales representative.

4 SECTION EIGHT NONDISCLOSURE OF TRADE SECRETS Sales representative acknowledges that the information that will be furnished to sales representative concerning Broker's customers, leads, prospects, holdings, investments, transactions and other confidential matters constitutes valuable, special and unique assets and trade secrets of Broker's business. Sales representative will not, during or after the term of the engagement under this agreement, disclose any such information to any other person or entity for any reason or purpose whatsoever. SECTION NINE ENTIRE AGREEMENT This agreement constitutes the entire agreement between Broker and Sales representative, subject to the Stockholders Agreement attached hereto. SECTION TEN MODIFICATION OF AGREEMENT Any modification of this agreement or additional obligation assumed by either party in connection with this agreement shall be binding only if placed in writing and signed by each party or an authorized representative of each party. SECTION ELEVEN NOTICES All notices between the parties shall be in writing. Notices may be delivered personally, or by mail, postage prepaid, to the respective addresses of the parties as stated in this agreement or as may be subsequently given. SECTION TWELVE GOVERNING LAW It is agreed that this agreement shall be governed by, construed, and enforced in accordance with the laws of the State of California. Any action filed by either party to enforce the terms of this agreement shall be filed in the Orange County Superior Court.

5 SECTION THIRTEEN EFFECT OF PARTIAL INVALIDITY The invalidity of any portion of this agreement will not and shall not be deemed to affect the validity of any other provision. In the event that any provision of this agreement is held to be invalid, the parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision. SECTION FIFTEEN PARAGRAPH HEADINGS The titles to the paragraphs of this agreement are solely for the convenience of the parties and shall not be used to explain, modify, simplify, or aid in the interpretation of the provisions of this agreement. SECTION SIXTEEN ASSIGNMENT OF RIGHTS The rights of each party under this agreement are personal to that party and may not be assigned or transferred to any other person, firm, corporation, or other entity without the prior, express, and written consent of the other party. In witness whereof, each party to this agreement has caused it to be executed at [place of execution] on the date indicated below. [Signatures and date(s) of signing]