INDEPENDENT CONTRACTOR’S AGREEMENT
- Independent Contractor Status – Contractor agrees to work for Broker as an Independent Contractor, and not as an employee, however, Contractor understands that Broker is legally responsible for the activities of the contractor. All costs and obligations incurred by Contractor in conducting his/her independent business shall be paid solely by Contractor, who will hold Broker harmless from any and all costs and obligations. Contractor will act independently as to the management of his/her time and efforts and will be responsible for timely payment of all of his/her own expenses, Such as industry association dues, licensing renewals, mobile device, etc.., as they are incurred. Contractor understands and agrees that because Contractor is an Independent Contractor and not an employee Broker. Broker will not withhold any Federal or State Income Tax, Social Security (FICA) or Unemployment (FUTA) taxes from Contractor’s commissions paid. Contractor is personally responsible for paying any and all Federal and State Income. Social Security and other taxes, and for maintaining all expense records as required by law, and represents to Broker that all such amounts will be withheld and paid when due. Contractor shall indemnify and hold Broker harmless from any liability or costs thereof. Contractor further understands and acknowledges that Broker provides NO Workman’s compensation coverage. Contractor hereby specifically waives such coverage and represents to Broker that he/she understands that, if Contractor desires such coverage, Contractor must personally obtain such coverage directly from the State of Florida Real or an insurance carrier of Contractor’s choice, at Contractor’s sole expense.
- License & Realtor Status – Contractor is and shall remain licensed and in good standing with the Florida Department of Professional and Business Regulation, throughout the term hereof. If not currently a Realtor, Contractor will, within 10 days of the date of this contract, become a member of an approved Association of REALTORS and will adhere to the REALTORS Code of Ethics and the Multiple Listing Service Rules and By-Laws. Contractor will always conduct him/herself in full compliance with the Statutes and the Rules and Regulations of the Florida Real Estate Commission and in a way, which reflects the high standards of the Broker.
- Commissions and Fees – As commissions are earned through the efforts of contractor, such said commissions will be promptly paid to Contractor by Broker minus any amount owed to Broker by Contractor. If Commissions are sent directly to Xcellence Realty.com, Inc they will be paid upon the clearance of the funds & upon receipt of a complete sales file & fully executed Closing Disclosure. The second option will be for the Title Company or Attorney conducting the closing to pay you directly at closing, this can be done via an escrow agent disbursement agreements which you can request within a transaction in RealtyBackOffice.com. Contractor further agrees to participate in one of the following Compensation plans Below.
AGENT COMMISSION PLAN
Referral Agent Plan – $29/Monthly – Does NOT Include VA Services
-90/10 Split on Residential Transactions under $1 million with a minimum of $149 to the Brokerage
–Residential Sale Checks under $5,000 will be charged at 90/10 Split with a minimum of $149 to the Brokerage
-95/5 Split on Residential Transactions $1 million and above
-90/10 Split on All Referral Transactions with a minimum of $149 to the Brokerage
-$149 Flat Fee on Residential Leases.
-95/5 Split on All Commercial Transactions with a minimum of $149 to the Brokerage
All fees due the Broker must be included on the transaction’s Closing Disclosure and paid at the close of escrow unless waived by Broker, Contractor will provide to Broker a valid credit card number and authorizes Xcellence Realty to charge the credit card for the amount of monthly dues and any other incurred expenses as payments become due.
- Teams – Xcellence Realty Allows for team structures. All teams must comply with all laws affecting team advertising. In addition, Team Members must all be in the same compensation plan as the Team Leader.
- Transaction Defined – For purposes of this Agreement, the term “transaction” shall be defined as the deed following the sale of real estate, or the execution by all parties of a lease, where a commission is paid to Broker as a result of the efforts of Contractor. Contractor agrees that Broker has the right to hold and/or apply any commissions owing to Contractor, as may be necessary to pay for or secure any obligations of Contractor hereunder.
- AGENT$HARE- The Xcellence Realty Rev Share Program
What is Revenue Share? Revenue Share is the distribution of the total amount of income generated by the sale of goods or services. It should not be confused with profit share. As with profit share, only the Company profit is shared, which is the revenue left over after expenses have been paid.
When you join Xcellence Realty you can participate in our Revenue Share program, which we call: AGENT$HARE. With our Revenue Share program, we pay you a percentage of the Company portion of the commission from the closings of any and all agents you attract to the Company. Our AGENT$HARE program offers 7 Revenue Share levels which you can see below.
AGENT$HARE PROGRAM LEVELS & PAYMENT SCHEDULE
LEVELS Agents Required % of Company Commission
Cost to participate in AGENT$HARE-The Contractor hereby acknowledges and agrees to participate in the Agent$hare Program, designed to provide agents with an opportunity to share in the growth of Xcellence Realty. A monthly fee of $50.00 (Fifty US Dollars) will be automatically charged to the Contractor’s credit card on file for this participation. This fee is utilized to facilitate and sustain the revenue-sharing structure, as a measure to reward agents contributing to the Company’s growth and success.”
AGENT$HARE Selecting a Sponsor- The Spirit of our AGENT$HARE program is that the person named as your sponsor is that person whom you feel is the person primarily responsible for bringing you to Xcellence Realty. It may or may not be the first or last person who talked to you about joining Xcellence Realty during your considerations, you may in fact have met with many people in the company. Your sponsor should be the person most instrumental in bringing you to these serious discussions. It is similar to the procuring cause issue that is traditional in the Real Estate business.
Please know that any person in a leadership position within the office is ethically bound to honor leads given to them by other Xcellence Realty agents. While you may consider one of these people as your sponsor because they made personal contact with you, that leader must ensure that you name as your sponsor the person who actually referred you to them. These leadership positions include:
- Any Broker in Charge
- Any Company Employee
- Any Company Trainer
- Any Company Support Staff
AGENT$HARE Dual and Multiple Sponsorship- Sponsorship by more than one associate, is not allowed in the Xcellence Realty AGENT$HARE program. In those circumstances when an individual has been recruited by more than one person, only the recruit can decide which person to name as their sponsor at the time of joining the Company.
AGENT$HARE Change of Sponsorship- Once an individual’s sponsor has been named, it may be changed due to typographical errors that may have occurred when the individual was first entered.
If a clerical error was made by the individual or by our staff, the mistake can be corrected provided the individual who recently joined Xcellence Realty submits a written statement of the nature of the mistake, The statement must be approved and signed by an office manager or broker in charge, within 7 days of the date the
individual originally joined Xcellence Realty. If the error is not noted within this 7 day grace period, then the individual’s sponsor, as originally entered into our sponsorship record-keeping system, shall remain unchanged. Xcellence Realty reserves the right at its sole discretion to grant or not change to named sponsors.
Agent Returning to Xcellence Realty & AGENT$HARE- Agents who leave the brokerage and return within 365 days will remain sponsored by their original sponsor even if they put the name of a different sponsor when rejoining. Only when a past agent re-joins after 365 days, will a different sponsor who is not their original sponsor be honored as their new sponsor.
AGENT$HARE Payments- All Revenue share will be paid on or about the 5th day of each month.
Gaming Revenue AGENT$HARE Program- Agent agrees that he/she will not attempt to Game the Company Revenue Share Program by engaging in the practice of engaging “Straw Agents”.
“Straw Agents” are agents who are not engaged in the business of selling real estate or engaged in the process of recruiting and supporting other productive agents in the Company. The Company
has the sole right to determine who is considered a “Straw Agent” and further reserves the right to release the licenses of individuals who are, in the opinion of the Company, “Straw Agents” which would in net effect reduce the number of front line agents an Agent has recruited.
The Company will also notify Agent that it has released the licenses of the agents that it believes are “Straw Agents” and review the recruiting practices of the Agent.
If, after reviewing with Agent, Agent continues to engage or appears to be engaged in the practice of Gaming the Revenue Share Plan, Agent may be restricted from Recruiting and/or released from the Company.
Transaction Types for AGENT$HARE & Company Minimum– Revenue share will only be paid on Residential Transactions. All other transaction types are excluded. Furthermore, it is important to note that a minimum commission threshold applies for revenue sharing. Specifically, the company’s portion of the commission must exceed $149 before a revenue share is disbursed. If the company’s portion of the commission is $149 or less, the recruiter/sponsor who brought in the agent will not receive a revenue share for that sale
Unfortunate event of Death- In the unfortunate event of Death all sponsors revenue share income will be paid to your named beneficiary. To qualify for beneficiary compensation, the agent must have been continuously active with the Company for the last 5 years prior to death. Any agent who has not vested a minimum of 5 years prior to death, forfeits their revenue share back to the company.
If you are vested during an unfortunate event of death we will forever base the compensation to your named beneficiary, on the Xcellence Realty Revenue Share compensation level you were in at the time of death. (Please see level freeze explanation below) The only way this will change is if you actually move up a level(s) because of the 24 month allowance period clause below, if that is the case then we will forever pay the revenue share compensation to your beneficiary based on the highest level you reached after death.
24 months Allowance Period- If within 24 months after death, you are named the person who influenced a new agent to join the Company, we will honor this Agent as your sponsor and will add them to your downline, adjust your compensation plan if needed, & include him/her to your beneficiary compensation.
How Level Freeze After Death Works- Let’s say you happen to be in level 7 of our revenue share program at the time of death, if a year after you lose a few agents from your downline and as a result of that you are bumped down level. What will happen at this point is that we will continue to pay you based on level 7 percentages but of course only for the active agents you currently have now in your downline. This will occur until there are zero agents in your downline and there is no more revenue share to pay out or in the unfortunate event of the death of your beneficiary.
- Errors & Omissions Insurance – The Errors and Omissions Insurance carrier shall be chosen at Broker’s discretion. Contractor understands that he/she is responsible for payment of the deductible amount upon request for each Error and Omissions claim. Contractor shall immediately notify Broker of any circumstances likely to give rise to any kind of claim or complaint against Contractor and/or Broker. In the event of a claim, lawsuit, license complaint or arbitration demand which is not wholly covered by insurance, Broker may withhold from Contractor’s commissions payable, an amount adequate to satisfy any amount not covered, which Broker shall place in its claims and Disputes Retention Account, pending settlement or other disposition of the matter. In Broker’s sole discretion, Broker may apply such sums as necessary to settle or to satisfy any such claim or award, and Contractor agrees to cooperate fully in this regard. Contractor understands that, from time to time, the Principals Broker may deem it necessary to obtain legal consultation concerning one of Contractor transactions, Contractors agrees to reimburse and indemnify Broker for any Attorney’s fee reasonably incurred by Broker to obtain legal advice concerning such transactions(s).
- Agent As Principal– In the event Contractor intends to enter into any transaction as a principal, (as Buyer or Seller with 25% or more equity in property), Contractor shall notify Broker beforehand, and shall include such clause or clauses required by the Florida Statutes and FREC regulations in any contract or lease agreement.
- Escrow Monies- This office does not act as an escrow agent under NO circumstances, it is mandatory that upon receipt of a good faith deposit for a Real Estate transaction for the monies to be deposited into the title company or attorney trust account that will close the transaction. The money must be deposited into escrow within 24 hours of receipt. If a deposit is received on a Saturday, Sunday, or holiday, it must be deposited by the next business day.
- Protection of Contractor’s Listings and Contracts- in the event that Contractor terminates his/her contractual relationship with broker for any reason, any and all listings all through the efforts of Contractor during the term of this Agreement shall be transferred to Contractor or to Contractor’s new employing broker, on Contractor’s behalf without penalty. Commissions earned and paid on all sales contracts completed prior to the Contractor’s termination will be paid to the Contractor upon closing of escrow, according to the commission plan in effect at the time the contract was executed.
However, Contractor specifically agrees to continue to fully cooperate with Broker as necessary to resolve any transactions, claims or dispute which are pending at the time, or which arise after Contractor’s contractual relationship with Broker terminates and Contractor shall indemnify and hold Broker harmless from all such matters. Any such transfer of listing and/or disbursement of commissions is conditioned on the Contractor having any and all dues, fees and expenses owing to Broker paid in full.
- Hold Harmless– As a material provision of this agreement, Contractor agrees that, for all actions that Contractor Does during his/her contractual relationship with Broker, Contractor will forever indemnify and hold harmless Broker, their heirs, successors, spouses and liabilities of every kind whatsoever, whether known or unknown, including without limitation of any action, omission, negligence or any other basis of liability or complain, in any forum, brought by any third party against XCELLENCE REALTY. In addition to that contractor
agrees that no action or complaint arising out of a real estate transaction in which Broker is involved may be brought by Contractor before any body, against any third party, without prior written consent of the Broker. If the Broker initiates any litigation or arbitration action on behalf of the Contractor or if the Broker must defend any action of the Contractor in litigation or arbitration, Contractor will pay all related filing fees and attorney fees.
- Amendment of Contractor’s Agreement & Policies Manual – Xcellence Realty.com, Inc at their sole discretion reserves the right to modify this agreement including and not limited to eliminating or altering Compensation plans, membership benefits, Company rules, & special income programs. In the event Xcellence Realty.com, Inc adopts an amendment to this Contractor’s agreement or Company policies agent agrees to abide and accept the latest contract adoption and or Company policies modification. Agent will always be notified of amendment(s) and the date they will go into effect. Agent agrees to hold Xcellence Realty.com Inc, the Broker, the Principal, any officer, director or Stockholder harmless for the adoption of or modification of this Contractor’s Agreement or Company Policies.
- Termination of Agreement – This Agreement may be terminated immediately by Broker or agent with or without cause, Contractor agrees that a violation of any of Contractor’s obligations hereunder shall constitute cause for immediate termination of this Agreement.
- Communication Consent – By joining Xcellence Realty, the agent (“Agent”) hereby grants the Company permission to communicate via various methods such as email, text messages (SMS), phone calls, and postal mail for purposes including but not limited to company updates, service notifications, promotions, and other relevant communications related to the Agent’s affiliation with the Company. The Agent acknowledges that this consent is a part of their association with Xcellence Realty and that it remains in effect until expressly revoked in writing.
In the event of termination, the contractor will forfeit all sponsors to our corporate office and will no longer be compensated Revenue Share. Lastly, In the event the contractor voluntarily terminates this agreement and decides to return to Xcellence Realty in the future, the contractor will NOT be entitled to receive Revenue Share from past recruits.
- Professionalism– Professionalism at Xcellence Realty means approaching the business with ethical conduct toward our customers and clients and other agents. Secondly, constant training and education keep us informed and at the peak of our awareness. All Associated Licensees must conduct themselves in a professional manner at all times
- Mediation of Disputes– In the event of a dispute involving two or more contractors, all of whom are licensed with XCELLENCE REALTY, INC. Contractor authorizes the Designated Broker for XCELLENCE REALTY, INC., sole and absolute discretion in resolving said dispute. Contractor agrees to abide by the decision of the Designated Broker. Contractor also agrees to hold harmless and indemnify XCELLENCE REALTY, INC and its Designated Broker against any claim, action or lawsuit of any kind. And from any loss, Judgment, or expense, including attorney’s fees, arising from or relating in any way to the resolution of said dispute.
- Communication with Company Agents– If you have the need to mass communicate with Xcellence Realty agents, the only allowed platform to communicate is the Company Private Facebook Group & the announcements area of RealtyBackOffice.com, Any other forms of mass communication require written Company administrative approval.
- Training Events & Social Events– Agent may not coordinate nor sponsor training or social events where a group of Xcellence Realty agents will be present without written Company administrative approval. In the case of a training event, before requesting administrative approval, please make sure to have a complete curriculum of what will be discussed in the presentation/training event. Xcellence Realty, at its sole discretion, reserves the right to deny any agent coordinated/sponsored training that does not align with our Company culture, business model, policies, objectives, or goals.
- Brokers Open & Open Houses– Agents who wish to co-host a broker’s open house with a 3rd party Company/vendor, must obtain written Company administrative approval before doing so. Xcellence Realty reserves the right to deny the attendance of any 3rd party Company/Vendor in our listings if at our discretion we believe that the vendors attendance in the broker’s open or open house does not align with our Company culture, business model, objectives, or goals.
- Media Outlets- Agents are prohibited from granting radio, television, newspaper, or magazine interviews, or using public appearances, public speaking engagements, or making any type of statement to the public media to publicize the Xcellence Realty,inc opportunity, its products, and services without the written approval of Xcellence Realty.
- Blind Ads- Agents may NOT use “blind” ads on the Internet making product or income opportunity representations that are or may be associated with Xcellence Realty, inc.
- Spamming- Agents may not, under any circumstance, use the Internet for the purpose of indiscriminate “bulk” or unsolicited mailing, generally known as “spamming.”
- Logo or Company name- Use of the company logo is considered advertising, please make sure to use the most updated version of our logos which can be found in the link below:
- Using Name Xcellence or Xcellence Realty in Social Media or other online venues
Use of the name Xcellence or Xcellence Realty in a Domain name, YouTube Channel Name, Facebook page or other Social Media site is prohibited and must be approved by the company in advance or risk being required to be removed from the respective places online and or turned over to the company for no additional consideration.
- Advising your clients beyond the subject of Real Estate-
Do not give advice on legal, tax, construction and other advice which are outside of the scope of your license.
- Property Management- Property management, business opportunities and prepayment rental activities are not allowed.
- Referrals- Outside referral payments must have supporting referral agreements included in the file.
- Supra / eKey / MLS Keybox Key-Do not give your Supra key or MLS login information to any unauthorized person. You will be responsible for damages caused by such a violation.
- Do Not Call Rules: Agents must stay up to date on rules relating to the Do-not-call rules: See: http://www.ftc.gov/donotcall
Cold calling must be done in compliance with applicable state and national laws. Any fines that result from any violation of the “do not call” law or any other solicitation will be paid for by the Salesperson who broke said rule.
- Out of Town or Vacation-When you have listings and/or open escrows and you are out of town, or otherwise unable to provide services to your clients, you are required to notify the admin staff so they know who is covering your business. Do not leave your business unattended.
- Business Apparel- When showing property, sales associates must maintain a clean and presentable appearance. It is highly encouraged that agents dress in business casual at a minimum when first meeting a client and to maintain a wardrobe which is consistent with being a trusted professional.
Claims & Warranties- Agent agrees to make no claims or warranties of any kind, including, but not limited to, any claims for earnings or benefits concerning its services, other than those included in Xcellence Realty written literature.
- Identity Theft– Identity theft is a growing concern. So, it is essential that you treat with care and confidentiality all files containing names, addresses, phone numbers, social security numbers, credit card information or any other personally identifiable information. You must assure that any files containing such information that remain in your possession be kept in a secure location and disposed of properly.
- Safe Driving- You are expected to keep your automobile in a clean, properly maintained, and safe operating condition at all times. Remember: You are responsible for damage or injury caused while driving. It is your obligation to drive in a safe, responsible and alert manner. A. Personal Injury Protection. Each Agent must carry automobile liability insurance in amounts not less than $100,000 for each person, $300,000 for each accident. Proof of insurance may be requested by the company. B. Uninsured Motorist Insurance. It is recommended that each Agent carry uninsured motorist insurance for his or her own protection against uninsured drivers.
21. Personal Transactions- You may buy or sell property for your personal account subject to the same Broker’s fee like a regular Transaction. You must disclose in writing that you are a real estate licensee whenever you buy or sell property in which you have an ownership interest, or where you have a special relationship with a buyer, or where there is a possibility that you could acquire indirectly a financial or legal interest in the property.