INDEPENDENT CONTRACTOR AGREEMENT
THIS AGREEMENT, made this _____ day of _________________, 20____ by and between Community Choice Realty, Inc. hereinafter referred to as BROKER,
and ________________________________________ hereinafter referred to as SALESPERSON.
WITNESSETH:
WHEREAS, Broker is engaged in business as a Real Estate Broker in the city of Troy, County of Oakland, Michigan, 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, 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, and
WHEREAS, Broker maintains an office in said City and County, properly equipped with furnishings and other equipment necessary and incidental to the proper operation of said business, and
WHEREAS, Salesperson is now and has been engaged in business as a real estate salesperson of a broker, duly licensed by the state of Michigan, and has enjoyed and does enjoy a good reputation for fair and honest dealing with the public as such, and
NOW THEREFORE, in consideration of the premises and the mutual agreements herein contained, it is understood and agreed as follows:
(Initial)
_____ 1. It is agreed that the Salesperson’s principal place of operation shall be either home office, or their independent office location.
_____ 2. The Salesperson realizes that the facilities of the Main Office in
_____ 3. The Salesperson agrees to read and be governed by the Code of Ethics of the National Association of Realtors, the real estate law of the State of Michigan, and the by-laws of the local real estate board, including any future modifications or additions thereto Salesperson agrees to obtain and make themselves knowledgeable of said Code of Ethics, plus state & local laws and by-laws.
_____ 4. The Salesperson agrees to work diligently and with his or her best efforts to sell, lease or rent any and all real estate listed with the Broker, 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 profit possible.
_____ 5. The salesperson agrees that brokerage fees for services rendered in the sale, rental, trade or lease of real estate shall be those negotiated by and between the Broker, Salesperson, and Seller and/or Buyer. It is, therefore, mutually agreed between the said Broker and Salesperson that the amount of the commission shall be 100%. There shall be no commission splits.
_____ 6. The Salesperson agrees to promptly pay all his/her expenses incurred in the listing and selling of real estate, including, but not limited to:
• Monthly Broker fee, $128.00, paid automatically one time per month, by credit or debit card.
- E&O insurance, $18.00 per month.
• Personal expenses including:
- Mandatory MLS dues, fees, and surcharges.
- Mandatory National, State, and local Board dues (NOCBOR)
- Sign generation and installation.
- Business cards, letterheads, etc. as needed by Salesperson.
- Any advertising Salesperson chooses to do.
- Any other expenses incurred by the salesperson.
_____ 7. It is understood that E&O insurance dues can be paid in full for the year in one lump sum payment of $216.00, prorated.
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_____ 8. The Salesperson agrees to allow the Broker the right to withhold funds from Commission checks earned by said Salesperson to pay any unpaid expenses incurred by said Salesperson.
_____ 9. The Salesperson agrees that they have authority to negotiate brokerage fees with each individual client. These fees may be different than those advertised by the company.
_____10. The Salesperson agrees that all services performed by the Salesperson shall be compensated solely by way of commission, or referral commission.
_____11. The Salesperson may receive referral income for referring Salespersons to Community Choice Realty, Inc. Referral income will be paid as follows:
- For each direct referral the referring Salesperson shall receive $32.00 per month for as long as that referral remains with Community Choice Realty, Inc. and is paying their monthly dues on time.
- For each referral made by a Salesperson under the original Salesperson, the original Salesperson shall receive $15.00 per month, allocated for advertising purposes. (Advertising Dollars)
- The original Salesperson shall receive these referral commissions for only four levels of referring Salespersons under them. Please refer to the Community Choice Realty, Inc. commission structure for further explanation.
- All referral income shall be paid my check or direct deposit to the sales person once per month. The Salesperson shall receive the same referral commission for as long as they are with the Broker, and paying their dues on time.
_____12. Advertising Dollars shall be paid directly to the advertising or marketing supplier by the Broker.
- Advertising Dollars will only be paid upon receipt of an invoice from a supplier.
- Advertising Dollars do not and will not “roll over” from previous months. Nor can they be collected or saved for future use. It must be used in the same month issued or the money goes back to the Broker.
- Advertising Dollars shall not be used to purchase leads unless otherwise approved by the Broker.
- The Salespersons understands that it is his/her responsibility to shop for and initiate all marketing and advertising. Although the Broker may make suggestions. All advertising must be approved by the Broker before the supplier is paid.
_____13. The Salesperson recognizes that all fees from a closing shall be promptly divided upon collection of same (when the Salesperson is the listing agent, and there is a buyers or selling agent due commission). The Salesperson agrees that it is his/her duty to arrange to have all commission checks either deposited in the Brokers bank account or delivered to the main office promptly after a closing.
_____14. The Salesperson agrees to maintain his/her mail, e-mail, and website if applicable, and is responsible for information transmitted there by Broker and/or main office personnel.
_____15. 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 services performed for federal or state tax purposes.
_____16. The Salesperson agrees that he/she is under the control of the Broker as to their work only, and not as the means by which such work result is accomplished.
_____17. 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 customers, clients, others, or to the Salesperson’s or others property.
_____18. The Salesperson understands and agrees that they hold no ownership position, claim, or portion of Community Choice Realty, Inc., whatsoever, no matter the duration of the Salesperson’s contract with Community Choice Realty, Inc.
_____19. The Salesperson agrees that any and all listings of property and all undertakings in connection with the real estate business shall be taken in the name of the Broker. Such listings shall be filed with the Broker, at the
_____20. The Salesperson agrees that all Earnest Money checks MUST BE DELIVERED, OR DEPOSITED DIRECTLY into Brokers Escrow Account by the second business day after final acceptance date of sale. Failure to comply could result in the loss of your license, dismissal from this Brokerage, and a $100.00fine.
_____21. The Salesperson agrees that a full closing package must be delivered to the
_____22. The Salesperson agrees that they shall not practice any real estate whatsoever until the Salesperson’s license has been physically received by the Broker, unless this is an automatic transfer (ICOLA).
_____23. The Salesperson agrees, in the event of a disagreement between Salesperson and the Broker with regard to this agreement, to submit such disagreement to the local real estate board for binding arbitration.
_____24. The Salesperson agrees to promptly inform the Broker of any threatened legal action on any transaction.
_____25. The Salesperson agrees that all advertising of homes for sale must be in
_____26. The Salesperson agrees to pay Office fee ($128.00) and E&O fee ($18) and/or all fees incurred for the month by way of credit card or debit card.
_____27. The Salesperson must keep current with Community Choice bills, which are due on the 1st of each month. Any salesperson with an outstanding balance of more than 60 days will be assessed a $25 per month late fee. Any Salesperson with an outstanding balance of more than 90 days will result in termination of this contract and the Salesperson’s license will be returned to the State of
_____28. The Salesperson must notify the main office of any changes in address, telephone numbers, pager number, or credit card information.
_____29. The Salesperson agrees to refrain from the use of cellular/mobile phone where prohibited by law. The Salesperson also acknowledges that it is against company policy to use a cellular/mobile phone while operating a motor vehicle.
_____30. This agreement can be terminated by either party at any time. However, the Salesperson must give two weeks notice of termination, and if any monthly payment is due within those 2 weeks, that payment shall be collected by the Broker.
Having read and understood the above Independent Contractor Agreement, I herewith agree to and freely sign this document.
__________________________ __________________________
Community Choice Realty, Inc. Salesperson
__________________________ __________________________
Date Date