TERMS OF AGREEMENT We, the Originating Broker, have referred to you, the Recipient Agent, our Customer xxxxxxx, a potential buyer, seller or renter, whom we have procured through our websites, including Neighborcity, and direct contact. You have agreed to accept the referral of our Customer, and to the delivery of real estate brokerage services to our Customer. Upon Your execution of this Agreement we have commenced the exchange of necessary information for You to deliver advisory services to our Customer. Your efforts to assist our Customer will be governed by, and subject to, this Standard Referral Agreement ("Agreement"). The Parties contemplate that, subsequent to or contemporaneous with the execution of this Agreement, a designated representative of the Recipient Broker will ratify this Agreement or will execute a separate Agreement entitled “Standard Broker Referral Agreement.” In the event that a Standard Broker Referral Agreement is executed, that Agreement, to the extent that there may be redundant or conflicting provisions between the two Agreements, the Standard Broker Referral Agreement shall be the controlling Agreement with respect to brokerage duties and obligations. As to any obligations running solely to the Recipient Agent, this Standard Referral Agreement shall continue in full force and effect and shall be the controlling document with respect to any duties imposed upon and assumed by Recipient Agent under the terms of this Agreement. If a designated representative of the Recipient Broker does not execute a separate Standard Broker Referral Agreement, this Agreement shall continue to be the sole controlling document with respect to the duties and obligations of the Parties. You understand and agree that although We are a licensed real estate broker in the State of California, we will not be providing any brokerage services in connection with any transaction subject to this Agreement. By accepting this Agreement, you give American Home Realty Network, Inc. consent to use your name and the information regarding Your listings and the transactions in which You have cooperated for promotional purposes on Our website(s). You further release American Home Realty Network, Inc. from any claims related to such use of this information. With respect to any Customer, their family member, or any related party (familial or not) introduced as a result of the original referral of the Customer whom We have referred and for whom You have agreed to provide brokerage services, You agree to: 1. Share with Us thirty (30%) percent of all gross commissions ("Referral Fee") due to You for each side of the transaction where You represent the Customer, whether the Customer buys, and/or sells and/or leases/rents any real estate, for a period of twenty-four (24) months following your acceptance of the Customer ("Referral Period"); the term “gross commissions” refers to the amount due to the recipient broker in any transaction as defined above, inclusive of commissions due to the Agent representing the Customer. In the event a recipient broker contends that any referral was not authorized or accepted by the Brokerage, the Recipient Agent executing the Referral Agreement shall be liable for payment of the entire referral fee due to Us, and by acceptance of this Referral Agreement agrees to be responsible for payment of any fees due to Us under the terms of this Agreement; 2. Report any transaction related to or resulting from the Customer referral and pay to Us a Referral Fee on any and all additional transactions the Customer executes with You within the Referral Period; 3. We will consider cancelling your obligations under this Agreement for this Customer only in the following events: a) You have closed a real estate transaction pre-dating this referral with this Customer and provide Us with a final closing statement by email; b) You are currently in an agency agreement with the Customer that pre-dates this Agreement and provide Us with said dated, executed agency agreement by email; c) You have been in email communication with the Customer within thirty (30) calendar days of the date of this referral and can forward Us that original communication by email; within one (1) business day of Our introduction. The Referral shall be cancelled only upon Our written acceptance. 4. Provide Us relevant details of the contract within 2 business days of an agreement of sale (i.e. "contract") being executed; 5. Provide the closing agent (and/or title company, if applicable) with a copy to Us, specific written instructions in the form of a Broker Demand for Payment to: (a) divide all commissions we are collectively entitled to receive in accordance with this Agreement; (b) pay the Referral Fee to Us directly out of escrow; (c) send Us a copy of the closing statement; 6. Should You fail to perform your responsibilities in Sections 2, 4 or 5, You will pay Us as additional compensation 50% of all sums otherwise due Us plus all costs of collection; 7. Adhere to the reporting and performance standards promulgated by Us from time to time including, among other things, the submission of "Progress Reports" and the reporting of all offers You submit on behalf of the Customer, whether rejected or accepted; 8. To the extent necessary to fund the commission division stated above, this Agreement constitutes an assignment of any interests in any commission/fees either of us earn from a transaction for a Customer for whom We have agreed to cooperate; 9. We agree that either of Us may directly contact the closing agent to monitor the transaction and direct the division of the commission as provided above; 10. The term of this Agreement commences upon execution by You and shall continue until terminated by either party upon thirty (30) days prior written notice; however, either party may terminate this Agreement immediately upon written notice if the other party (i) is the object of a petition in bankruptcy that is not dismissed within sixty (60) days of filing; (ii) is no longer licensed as an active real estate broker; (iii) is the object of criminal prosecution, , or a claim that the party has violated consumer protection laws, equal housing opportunity laws, or engaged in any conduct constituting moral turpitude, (iv) is You and You fail materially to comply with Our reporting and performance standards as referenced in Sections 2, 4 & 5 of this Agreement. Notwithstanding the foregoing, this Agreement shall continue with respect to Customers where You have agreed to provide brokerage services, for the balance of the 24-month period following each acceptance. 11. You represent and warrant to Us that (i) You are and will remain during the term of this Agreement duly licensed as a real estate broker and/or agent in the state within which you conduct Your business; (ii) You have full power and authority to enter into this Agreement, perform Your duties and obligations under this Agreement, and that Your performance under this Agreement shall not violate or breach any other agreement or duty to which You are subject; (iii) if You are a broker or agent affiliated with a brokerage company, Your execution of this Agreement shall bind that company and You warrant that you have full authority to do so; (iv) in the event You execute this Agreement and do not have authority to bind your Brokerage as represented, You agree to be personally liable for any fees due to Us as set forth in Paragraph 1 above; unless and until a person authorized to bind the Brokerage executes a Standard Broker Agreement with Us or otherwise acknowledges in writing the acceptance of this Agreement by the brokerage (v) You or any brokerage company with which You are affiliated, are not currently the object of any bankruptcy proceeding, disciplinary proceeding before any real estate commission, department or agency, or any criminal proceeding; (vi) You or the brokerage company with which You are affiliated, have and will maintain so long as this Agreement is in effect professional liability insurance with aggregate annual liability limits of the greater of at least $1,000,000 or that which is legally required by your jurisdiction, and if legally required, you will have and maintain errors and omissions insurance in the same amount. 12. You agree to defend, indemnify and hold Us harmless from any damages, costs, expenses, judgments or attorney’s fees and litigation costs or expenses arising from any allegations asserted by a third party, including a Customer, (a "Claim") that if proven to be true would constitute a breach of your duties, obligations, warranties or representations under this Agreement. 13. This is an agreement for the performance of professional services and may not be assigned by either party without the express written consent of the other party, which the other party may withhold in its sole discretion. If You assign this agreement by the act of passing a client referral to another agent or brokerage without our express written consent, You will be in breach of this Agreement. Because of the difficulty in ascertaining the nature and amount of actual damages in such instances, You agree that We will be entitled to receive the amount of $2,000.00 as liquidated damage for each such occurrence. Notwithstanding the foregoing, this Agreement may be assigned by Us without Your prior consent incident to Our merger with another company, or Our sale of all, or substantially all, of Our assets to another person or entity. 14. Non-Circumvention; Liquidated Damages: You understand and agree that upon acceptance of this client referral you assume a duty to both AHRN and the referred client to act in accordance with the terms of this Referral Agreement, and that you will not take any actions or make any representations that are contrary to the terms and conditions of this Agreement. You further agree that if you make any representations to the referred client that result in a repudiation of the fact of this referral by the client, including but not limited to a refusal by the referred client to acknowledge that the client was referred to you by Neighborcity, that the nature and amount of actual damages flowing from your breach of the duty of non-circumvention would be difficult to ascertain, and therefore We shall be entitled to receive the amount of $2000.00 for each such occurrence. 15. YOU agree that the place of execution and performance of this Agreement is the State of California, City and County of San Francisco, and by executing and accepting referrals under this Agreement consent to jurisdiction of the State and Federal Courts for the County of San Francisco and the Northern District of California, as may be appropriate. 16. This Agreement, and any disputes arising under or in connection with this Agreement shall be governed by the laws of the State of California, including its conflict of law provisions. - End of Text - Proof of Acceptance American Home Realty Network, Inc. By: Christina Louise Case, Designated Officer (License #01146539)
Posted on: Fri, 19 Jul 2013 18:10:35 +0000
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