A Copy or of Your Driver’s License MUST be Submitted to the Managing Broker via email to agents @glasserlarsen.com or faxed to 954.414.4101 within 24 hours of joining the firm.
GLASSER LARSEN REAL ESTATE, LLC ("Broker") and _________________________ (Contractor), who will do business as a: ___Sales Associate ___Broker Associate, hereby agree as follows:
1. 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 accountable 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, efforts, and will be responsible for timely payment of all his/her own expenses. Such as industry association dues, licensing renewals, brokerage fees, etc. as they are incurred.
Contractor understands and agrees that, because Contractor is an Independent Contractor and not an employee of 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 or an insurance carrier of Contractor's choice, at Contractor's sole expense.
2. License & Realtor Status- Contractor is and shall remain licensed and in good standing with the Florida Real Estate Commission and 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 REALTOR® Code of Ethics and the Multiple Listing Service Rules and By-Laws. Contractor will always conduct him/herself in full compliance with the Statutes of Florida and the Rules and Regulations of the Florida Real Estate Commission and in a way which reflects the high standards of the Broker.
3. Commissions and Fees – As commissions are earned through the efforts of Contractor, 100% of any and all such commissions will be promptly paid to Contractor by Broker after receipt and processing, less any amounts owed to Broker. Payment of any and all commissions is subject to Broker receiving a complete sales file prior to closing. All disbursements will be made within 24 hours after file submission. Contractor further agrees to participate in the program as specified below:
$49.00 is due on or before the first calendar day of each month
$49.00 Transaction Fee will be charged on all purchase and sale transactions (All Transaction fees due the Broker must be included on the transaction’s settlement statement and paid through the close of escrow unless waived by Broker)
$100.00 Errors & Omissions Fee is due on the contractor's hire date and every hire anniversary date thereafter. This amount is non-refundable.
Commission paid from a transaction where Broker referred a customer or client to the Contractor is not eligible for 100% commission. Contractor agrees to compensate Broker 50% of commission and will be reflected on the settlement statement.
Residential Rental & Commercial Lease Transactions – Glasser Larsen Real Estate, LLC. will retain $100 or 10% of the gross commission whichever is greater. If transaction occurred from a referral from Broker, then 50% will be paid to Broker.
Monthly dues are payable in advance on the first calendar day of each month. This contract acts as credit card authorization. Unless waived by Broker, Contractor will provide to Broker a valid credit card number and authorize Broker to charge Contractor for amount of monthly dues and any other incurred expenses. $49.00 monthly due will be charged to the credit card on the 1st calendar day of each month.
Agents will be charged a Late Payment Fee of $25 on any payments received after the 5th day of the month in which they are due.
4. Occupational License Fee – The city of Davie requires the Real Estate Broker to obtain and maintain an Occupational License for the office.
5. Monthly Obligation & Commission Plans - Contractor acknowledges that monthly dues and annual Occupational License fees are a legal obligation and agrees to make timely payments as agreed to.
6. 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 (currently $5,000.00) upon request, for each Errors and Omissions claim. This deductible may change yearly. Contractor will be notified of any change. 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 amounts not covered, which Broker shall place in its Claims and Disputes Retention Account, pending settlement or other disposition of the matter. Broker may, in Broker's sole discretion, 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 Broker may deem it necessary to obtain legal consultation concerning one of Contractors transactions; Contractor agrees to reimburse and indemnify Broker for any Attorney's fee reasonably incurred by Broker to obtain legal advice concerning such transactions(s).
7. Hold Harmless - As a material provision of this agreement, Contractor agrees that, for all actions of Contractor during his/her contractual relationship with Broker, Contractor will forever defend, indemnify, and hold harmless Broker, their heirs, successors, spouses and assigns, from any and all claims, complaints, causes of action, Realtor® arbitration demands, damages 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 complaint, in any forum, brought by any third party against GLASSER LARSEN REAL ESTATE, LLC. Contractor agrees to defend broker with independent counsel of Broker’s choice. No action or complaint arising out of a real estate transaction in which Broker was involved may be brought by Contractor before anybody, 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 costs and attorney fees.
8. 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 obtained through the efforts of Contractor during the term of this Agreement shall be withdrawn by contractor and relisted with Contractor’s new brokerage, without penalty once any outstanding balance for dues, charges or fees are paid to Broker. Pending transactions will be referred to Contractor’s new brokerage with a referral fee equal to the transaction fee and any outstanding charges and fees, including referral fees, owed to Broker.
9. Transaction Defined - For purposes of this Agreement, the term "transaction" shall be defined as the recording of 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.
10. Termination of Agreement - This Agreement may be terminated immediately by Broker for cause, or upon three calendar days written notice by Broker or Contractor. Contractor agrees that a violation of any of Contractor's obligations hereunder shall constitute cause for immediate termination of this Agreement. In the event this Agreement is terminated by Broker for cause, Contractor agrees that any ongoing obligations of Contractor hereunder shall survive the termination of this Agreement.
11. Mediation of Disputes - In the event of a dispute involving two or more contractors, all of whom are licensed with GLASSER LARSEN REAL ESTATE, LLC. Contractor authorizes the Managing Broker for GLASSER LARSEN REAL ESTATE, LLC, sole and absolute discretion in resolving said dispute. Contractor agrees to abide by the decision of the Managing Broker. Contractor also agrees to defend, hold harmless and indemnify GLASSER LARSEN REAL ESTATE, LLC and its Managing Broker against any claim, action or lawsuit of any kind. These shall include the following: any loss, judgment, or expense, including
attorneys' fees, arising from or relating in any way to the resolution of said dispute.
12. Agent Information- Contractor will keep Broker, Florida Real Estate Commission, Department of Business and Professional Regulation and their local Association updated with any changes to their personal information such as mailing address, phone numbers, email, etc.
13. MLS or Local Association Fines or Arbitration - Contractor agrees to reimburse the Broker for the amount of any fine charged, arbitration or court costs charged to the Broker for any infraction caused by the Contractor, by any Multiple Listing Service or local Association for infractions of board rules by cash payment or by authorization of credit card charge or commission adjustment, which is hereby granted to Broker. Broker will be compensated 20% of any arbitration award or court judgment, to compensate company for time, company legal expenses and costs accrued by such arbitration or court action.
14. All parties to this agreement are bound in accordance with Glasser Larsen Real Estate’s Policy & Procedures Manual and as amended in the future. Glasser Larsen Real Estate reserves the right to modify this agreement and will notify all agents via email.
15. Policy & Procedures Manual will be provided to Contractor upon agreement. Contractor will read and acknowledge the Policy & Procedures Manual by signing additional forms.
The undersigned agree to the terms and conditions set forth above and acknowledge receipt of a copy hereof.
Broker: GLASSER LARSEN REAL ESTATE, LLC