Sign Idaho Banking Business Letter Template Fast

Industry sign banking idaho business letter template fast

[Music] and now helping you with real estate mr mike [Music] johnston today i'm going to go through the independent contractor agreement this is as of november 25th 2020. the importance of having an independent contractor agreement is so that we can have everybody be updated to the most recent contractor agreement in it it specifies that you are not an employee the importance of that is for tax purposes and we need to have one on file we've learned that some of us don't even have one on file so we need to make sure that everybody has it we're going to send this out to all of the agents so they can sign it electronically and that'll be a big benefit to make a little bit easier for all of us okay so let's go through this here we put down the agreement dated so you can put down today's date your name preferably the name that's on your license your social security number and also your license number if you have any designations we're asking you to fill that out it's not a requirement but it's nice to know we're just curious what designations different licensees in our office have and it says we've been licensed in idaho since when so if you could look that up on the real estate commission website that would be great you can put the actual date on there and you can find that out under your license on the real estate commission site it puts down that the designated broker that's me i'm considered the licensee in this document typically in other things the licensee might be you but in this particular document the independent contractor agreement whenever it says licensee it's referring to the broker the market center is also known as kw or keller williams realty east idaho we used to have the market center number 875 here but that's not really necessary the main address for the market center or the office is 3525 merlin drive and idle falls iterative 404. there are some standard recitals or certain paragraphs that are very common in this type of document so we have the engagement this agreement is entered into on the date above between the associate that would be you and the licensee that would be me the broker and the company identified above subject to the terms and conditions of this agreement the licensee engages the associate as an independent contractor to assist clients with the purchase and sell of real estate the associate accepts the engagement and agrees to provide the services of a real estate associate salesperson to customers and clients in the manner and subject to the conditions this agreement provides so the general terms of the agreement the associate you understand that he or she is entering into an agreement as an independent contractor and not as an employee the licensee will have no risk responsibility to withhold or pay any income or other taxes on the associate's compensation or to provide any insurance retirement or other employee benefits to the associate the associate's independent contractor status will define the party's relationship despite any contrary designation that appears on the associate's real estate license website signs business cards or other marketing or promotional materials here we're being very blunt in saying that you're an independent contractor even if you say on your card that you're an employee or some other thing that the public might think is different that does not affect it you are an independent contractor the associate is free to determine his or her own business hours and to choose his or her own target customers and clients marketing techniques and sales methods however the associate agrees to conduct business in compliance with the standards of contact prescribed by keller williams east idaho market center and or kwrei and or mc and or kw and keller williams realty in inc which is kwri the standards of conduct prescribed by the licensee with local state and federal laws that govern real estate brokerage and with the bylaws and codes of ethic of each trade or professional organization of which the associate and or the licensee is a member without limiting the general generality of these commitments the associate agrees to the following to comply with all laws and all keller williams realty international in the market center policies and guidelines including but not limited to the keller williams realty international policy and guidelines that apply to the dissemination of unsolicited email spam and faxes and to the use of telephone calls to market the associate's service or to solicit listings and or prospective buyers to adhere to and comply with privacy policy in terms of views that keller williams realty international publishes and prescribes from time to time from the kw.com website and others from keller williams realty international intranet and other websites owned and operated by keller williams realty international and or the market center keller williams realty international end or the market center may and its unfettered discretion alter very change and or amend the privacy policy and or terms of use as keller williams royalty international and or the market center deems necessary from time to time also adhere to and comply with keller williams realty international and or the market center's guidelines and or restrictions that apply to the registration ownership and use of domain names for websites that display the keller williams trademark or logo to display use of the keller williams name trademarks and logo on the internet and the use of meta tags and other devices that instruct that attract internet search engines to such websites and number four adhere to and comply with all other keller williams realty international and or market center policies and guidelines including but not limited to those set forth in the keller williams international and to the market center's policy dialogue manual see right now just want to double check and make sure that you're catching everything so it's a very important document that we have this information here and we'll continue to go through this and on some of these spots when we send it out electronically we'll have you initial to the side that way we know that you've seen that particular section it's just additional information it's not required the bottom of each page is what we need to have that you've seen that particular page in your signature on the end but it's always nice to have this other information the associated knowledge is that he or she will read and become familiar with the keller williams realty international policies and guidelines manual the associate also acknowledges that he or she has access to the keller williams realty international policies and guidelines manual through the kw intranet that's at the mykw.kw.com and may access and read it at any time during the entire time that the associate remains with the market center the associate agrees to list all real estate listings that the associate obtains and to handle all real estate transactions in which the associate engages in the name of keller williams realty east idaho it's important we have the full business name on the document the associate agrees not to do anything by action conduct statement or association that might damage the goodwill associated with keller williams realty east idaho's name trademarks or reputation or cause the public to lose confidence in the keller williams system and here we'll have you initial the bottom of the page for sure letter n the associate will have no authority to incur obligations on the licensee's behalf and promises one not to sign any contract agreement lease or note in the name of the licensee two not to open or maintain any bank account or investment account in the name of the licensee and three not to endorse or collection or deposit in the associate's personal account any check money order or the negotiable instrument made payable to the licensee commingling of funds that's against the law g the associate has received notice that keller williams realty's title has subscribed to the workers compensation statutes of the state of idaho in the event a court or arbitrator should find that the associate has entered into an employer employee relationship with keller williams dido which relationship keller williams realty style expressly denies the associate hereby gives keller williams realty east item notice that the associate elects not to be covered by the workers compensation policy which keller williams realty is subscribed to and the associate does hereby waive his claim for her right of action in common law or under any statute and or other law to recover damages for any injuries sustained in the course of his or her independent contractual relationship the associate rejects the coverage provided by the workers compensation act that particular paragraph is to say that if for some reason somebody else feels that you're an employee with the company that you will not be covered that you're agreeing to say okay hey i waived that right because you're not an employee you're an independent contractor that's what we're really working hard with this document is to do so the associate shall not be treated as an employee with respect to the services performed here under for federal tax purposes here's some information that you need to make sure that you maintain i the associate shall maintain his or her expense an automobile insurance policy in the face amount of one hundred thousand dollars for any one person three hundred thousand dollars for more than one person rising out of a single accident or transaction and fifty thousand dollars for property damage said insurance shall protect the associate against any liability which may arise in connection with the operation of his or her business as a real estate agent all policies of insurance are to be maintained by the associate and shall contain a separate endorsement naming keller williams royalties idaho as an additional insured and shall not be used and shall not be subject to cancellation except on 10 days written notice that keller williams realty stylehood the associate will deliver a copy to keller williams idaho attention mca market center administrator at 3525 merlin drive idaho falls idaho a3404 on or before the effective date of each renewal in the event the associate fails to obtain the separate endorsement then the associate assumes full liability and responsibility will hold harmless and defend keller williams to idaho from any and all claims made against them so please make sure that you have a separate endorsement in keller williams idaho as an additional insurer on your automobile insurance policy and i'll say it now on all of the pages the very bottom initial i'll just continue through compensation and expense allocation a so 3a so for so long is the associates association with the market center continues all income earned from the associates real estate sales activities will be accounted for and dispersed through the market center as outlined in this agreement and or an attached team or group agreement all compensation must be done through the broker so that's why all the checks that come in they don't go to you they come to the office the fines from the real estate commission because of the state of idaho's law it specifically says that you will receive compensation only from your broker and put your license the licensee will share the commissions earned on real estate transactions in which the associate works with or represents a client as a buyer or seller in accordance with the commission splitting and capping policies that the licensee offers generally to licensed sales associates the licensee's current commission splitting and capping policies are described later in this agreement in section 13 commission splitting and capping policies the associate acknowledges that the licensee retains sole discretion to change these policies at any time and without any notice the associate's compensation will be payable only from closed transactions and the associate may not draw or borrow against any compensation payment this includes not participating with commission advances or the like from outside entities so if you're wanting to have your get some money ahead of time the company will not sign any documents or papers that would permit that commission is earned only once it is done and completed c the associate will be solely responsible for paying the cost of his or her own one real estate license fees continuing education and occupational taxes two insurance including the associate's portion of heirs and emissions insurance the eno liability insurance and auto insurance three transportation four business cards yard signs brochures and other marketing materials five entertainment costs dues and other expenses incident to the conduct of his or her services as an associate six internet website development and maintenance and seven certain fees assessed by keller williams realty east idaho for floor listing on the kw.com website or other sites for access to the keller williams intranet and email system and for other benefits of association with the market center the participation fees and other expenses paid by the licensee on the associate's behalf are due and payable upon receipt and the associate must remit payment by the 15th of each month accounts receivable not paid by the 21st will be charged a 20 late fee and the associate will be required to provide a credit or debit card for future fees and authorizes keller williams realties item to charge any unpaid fees a 2 2.5 credit card service charge may also apply the associates who inform teams or groups the rainmaker may be held responsible for unpaid fees of any team or group members a 25 non-sufficient funds fee will be charged on each and any return check or checks the associate agrees that if the associate does not pay fees in full when due a licensee will deduct any unpaid amount from any of the associate's commission parties participation fees include but are not limited to a new agent startup fee which is 100 plus the eno insurance amount which is for january 250 february 225 march 200 april 175 may 150 june 125 july 400 august 375 september 350 october 325 november 300 and december 275. so that's the prorated eno amount which is the 100 new agent startup fee plus the emo insurance coverage amount which is roughly 300 a year which may change up or down the monthly participation fees start at 65 then you can select one or more of the following of the monthly participation fees it increases by the amount shown for example the agents typically join one or more of the mls's so if they're going to join the snake river regional mls it's between 30 to forty dollars and it's paid directly to systems engineering for meant for navigate if they're joining the pocatello association of realtors mls that's forty dollars a month the teton board of realtors mls is around four hundred dollars a year paid up front intermountain mls is roughly thirty three dollars a month i believe it's paid ninety nine dollars a quarter and wasatch front regional mls is around thirty nine dollars or more these numbers may change and please be aware of those and there are some fees sometimes set up with those when you begin or join one of those associations or mls which you'd be responsible for the above monthly participation fee includes the consortium fee kw technical fee of 10 keller williams international it supports your website keller williams webmail and the market center internet kw command 15 keller williams international real estate industries complete lead to close agent business solution including full lead management system contact management system customizable marketing library in a paperless transaction workflow agent services internet website 40 a month for the market setting additional expenses rent is applicable for office spaces if you choose to have an office space copies as applicable roughly six cents each for black and white and 20 cents each for colored copies folders 20 of them for around five dollars letterheads 17 cents envelopes 21 cents large envelopes are 28 cents ups overnight envelopes are roughly around 10 supplies and postage could be purchased replacement key fob for the doors to get into the buildings or even keys a ound twenty dollars you know insurance is roughly three hundred dollars per year and paid on the thirty foot on the first of july keller williams realty international agent renewal fee is twenty 25 per year in february that's to stay in the keller williams system these fees may change at any time fees may be subject to change without notice and the associate agrees to pay the amount charged to them e the associate will be eligible to participate in the keller williams profit sharing program to the same extent and on the same terms as other keller williams associates the associate must complete a binding sponsorship agreement upon becoming affiliated with our market center the associate understands that our keller williams market center must become profitable before it participates in the profits sharing program and that participating associates must remain with keller williams with the keller williams system for a minimum period before their benefits become invested the associate also understands and agrees that it is the associate's responsibility to ensure any fees related to the keller williams profit sharing program are timely paid and to ensure that keller williams has updated contact and payment information we don't have the information we can't communicate with you so it's important for that for some reason that payment is not made to keller williams international to keep you in the system it is not our responsibility to do so we're aiming to assist you limited trademark license number four for as long as the associate's association with our market center continues the associate has permission to use keller williams east idaho's name and logo on his or her yard sign business cards letterhead and other business forms and marketing or promotional materials subject to keller william realty internationals and or the market center's advanced approval of the artwork design and text the licensee will arrange for the associate to have a listing on the kw.com or other website but without express permission from keller williams realty international and compliance with any policies and procedures that keller williams realty international composes the associate may not use keller williams name or logo on or in the domain name url or meta tags of any website with which the associate is associated and or in any internet advertisement at the associate places when the associates association with our market center terminates his or her permission to use the keller williams real quest idol's name and logo will unconditionally cease and the associate must immediately destroy all business forms that reflect the associate's affiliation with the keller williams's organization and must comply with keller williams realty international's guidelines and procedures regarding website abandonment or revisions if with or without killer william military international commission the associate has used any variation of the keller williams's realty name or initials in a domain name or names and or social media account or accounts the associate will immediately transfer registration of the domain name to keller williams realty international without compensation five marketing all marketing must follow keller williams drill to east idaho's guidelines as well as comply with the iowa real estate commission's advertising guidelines all marketing must contain the realtor r there's a picture here that shows the mls symbols it says multiple listing service equal housing symbol the entire company name quote keller williams realty east idaho end quote in the correct and complete order without an abbreviation and in a size readable and not hidden or camouflaged the most recent keller williams realty east idaho logo and trademark requirements must be followed per the policy and guidelines manual and to remove all old logos in all forms of advertising that would be business cards signs etc the words each keller williams realty office is independently owned and operated must be on the advertising and everything must be in the appropriate colors as provided by the keller williams realty international all real estate signs must have the entire company name keller williams realty's idaho and are to be easily recognized and visible from a distance and not hiding or misleading and easily read at the posted speed limit on signs billboards etc the full company name also needs to be at least half the size of the largest letter or word or name on the rest of the advertisement for more information review the idle real estate commission's guideline number 13. some of this information is not necessarily set in stone but it's a request or to help enhance to make sure that you're in compliance there are certain rules that may affect the use of or the need to use a dba in the state of idaho doing business ad which may affect your marketing please check all rules prior to publishing anything and see the licensee the designated broker mean prior to placing orders or publishing any mistakes or errors made or the chances or were there any changes to the requirement the associate agrees to timely correct and update at their own expense the brokerage is attempting to assist the associate but it is ultimately the associate who must meet the compliance with the idle real estate commission and all other guidelines number six property management policy the associate may manage their own rental properties as a completely separate business entity the associate is encouraged to purchase additional eno insurance to cover themselves when dealing with property management issues it is recommended that you familiarize yourself with the residential landlord tenant statutes in idaho and to be aware of and follow all fair housing rules and regulations the associate is solely responsible for any fines or penalties that may be levied against the licensee or inadvertently against keller williams realty's title for any property management or any other related activity we try to keep things separate so that they don't confuse and think that it's part of the real estate office keller williams realty's item will not receive accept or manage any funds from any party to a property management agreement and as such no rents from personally owned property will be accepted by keller williams rupees idaho do not use the company's address or phone number for any advertising of rentals number seven eno insurance and indemnification a keller williams realty east idaho obtains an eno firm policy which includes coverage for the associate the associate will pay a portion of the total premium to be determined by keller williams idaho premiums are due yearly on the first of july and the associate who joins keller williams dido after july 1st will be assessed a pro-rated portion of the premium the premium is considered fully earned on july 1st and all premiums are non-refundable for any reason including termination of this agreement if not paid in full to the office by august 1st then the associate's license may be inactivated until the premium is paid in full for purposes of this section liability means all liability claims damages losses costs and expenses that a party sustains or incurs as a result of or in connection with a particular incident or situation related to the associate's actions or lack thereof as a licensed real estate associate salesperson b the associate agrees to indemnify and hold the licensee the market center in keller williams realty international harmless from and against all liability that the licensee the market center and or keller williams realty international occurs and or suffers on account of the associate's intentional disregard under breach of any law regulation or standard of conduct that applies to the associate's actions or activities as a licensed real estate sales associate even if the associate leaves the market setting any deductible and or expense incurred for the associate's action and or a claim made to the eno carrier will be paid in full by the associate upon request c for risk not customarily covered by enl insurance or in the event that the eno carrier denies coverage for any claim involving the associate licensee and or the market center then the associate agrees to indemnify and provide defense on behalf of themselves the licensee the market center and keller williams international they also agreed to defend and indemnify and provide defense for any liability arising from the associate's neglect unintentional or intentional and or disregard or breach of any law regulation or standard of conduct that applies to the associate's actions or activities as a licensed real estate sales associate the associate agrees to indemnify and hold the licensee the market senator keller williams will be international harmless from and against any liability that gave rise to the liability that occurred the associate agrees to take care of any and all costs associated claim or potential claim even if the associate leaves the market center d it shall be the associate's duty to read and understand all idaho real estate license law and rules the duties required by idaho law 54-2048 responsible broker for the transaction shall also be the associate students to ensure those requirements are met while keller williams realty east idaho's designated broker will supervise review and maintain transaction files account for entrusted funds as per the law it shall be the associate's duty and responsibility to ensure that all the requirements of ideal law or men and whenever necessary review with the broker any issues prior to closing transactions including the review of settlement statements to ensure the correctness keller williams royalties idols shall not be liable to any associate for any expenses incurred by him or her nor shall the associate have authority to bind keller williams drill to east idaho by any promise or representation unless specifically authorized in advance and in writing by keller williams or east idaho's designated broker from time to time claims complaints or litigations involving keller williams east idaho may arise directly from the activities of an associate the associate agrees to pay all damages costs deductibles and expenses assessed against or incurred by keller williams royalties title in defending or satisfying any claim or judgment imposed against keller william jovi's title because of the associate's activity of involvement further the associate agrees to pay out reasonable legal fees and other out-of-pocket expenses including any and all insurance deductibles incurred by keller william george's title that arrives from the associate's activity keller williams realty style agrees to work closely with the associate to keep such expenses to a minimum the keller williams realty side reserves the right to select the attorneys or attorney and reserves the right to defend any such complaint claim or litigation as it and its sole discretion sees fit the associate shall indemnify and hold harmless keller williams realty's title and the licensee from all damages fines levi's suits proceedings claims actions skills and or causes of action of any kind and of what so ever nature including but not limited to all cost deductible court cost litigation expenses and usable attorneys fees arising from growing out of in connection with or incidental to the associates activities and operation of the real estate business maintenance of any insurance required by this agreement shall not believe the associate of any liability under this paragraph any deductibles or fines assessed against keller williams drill feast item the licensees the licensee and or the designated broker resulting from the associate's activity or error shall be shall also be the responsibility of the associate even if the associative left the market center the associate recognizes that he or she may not be covered by eno insurance involving property in which the associate has or had or will have an ownership or equity interest either direct or indirect as an individual partner shareholder or fiduciary the exclusion of coverage does not apply to claims involving one the actual attempted sell not purchase a real property that the associate did not construct or develop and in which the associates combined ownership interest at the time of such sale was less than 25 or 2 the leasing of real property which the associate had a combined ownership interest that was less than 50 percent of the time the professional real estate services were rendered or three the actual attempted sell not purchased policing or property management of residential property by the associate who are or were not the owner of such residential property or for the sale not purchased residential property wholly or partially owned by the associate the associate spouse or domestic partner or five the actual attempted sell not purchased of real property 100 owned by the associate if the property was acquired by the associate under a written guaranteed sale listing contract and from acquisition to resell the title to the property was held the associate for less than 12 months and the property was continually offered for sell by the associate eight covenant's condition restricted covenants and confidential information a the licensee recognizes and agrees that all customer names and profiles that the associate possesses at the relationship's inception or personally develops during the time the associate is associated with the market center collectively associates data constitute valuable business assets of the associate that are entitled to protection as confidential information the licensee promises that it will not during the time of the associate's association with market center where at any later time attempt to obtain or exploit the associate's data and will not attempt to stop the associate from taking his or her associate's data when his or her relationship with the market center ends now this may be different if an associate is part of a team or group in which the separate agreement may dictate what may happen in this case b the associate recognizes that the licensee and other market center associates have spent substantial time effort and money to develop the market center's customer base and the associate's team except for the associate's data which is not covered by this section the names and profiles of customers who have bought and or sold real estate through the market center and of the associates who are associated with the market center constitute valuable business assets of the licensee and or other associates that are entitled to protection as confidential information the associate promises that he or she will not during the time of the associates association with market center or at any later time divulge sell exchange or distribute to any person except the licensee other associates associated with the market center or with the licensees written permission other members of the keller williams system the identities or profiles of any person who has bought and or sold real estate through the market center or of any associate that the licensee has recruited to the market center further the associate promises not to contact any such customer or client and or associate or to use any such profiles except in connection with the business of the market setting number nine terms and termination a this agreement shall be for a period of one year from the effective date written above and shall be automatically extended at the expiration date for an additional one-year period upon the updated terms and conditions as set forth with the most recent independent contractor agreement the associate degrees that the licensee may send an updated copy of this agreement electronically and may require the associate to sign it upon request and return it to the license cnn tangling man the associates association with the market center may continue for an indefinite period either the associate or the licensing may terminate the associate's association with the market center at any time with or without cause or prior notice see termination of the associate's association with the market center will not terminate any of the continuing rights or obligations of either the associate or the licensee under t is agreement particularly the covenants in section 7 and 8 section 7 you know insurance and indemnification in section 8 restricted covenants and confidential information d pending transactions this next section that i'm covering is very important because when somebody chooses to leave the office or if they're asked to leave i typically get a lot of questions as to what happens what happens to listings and all that type of information keep in mind that the listings still are the brokers everything is in the broker's name however we want to work well with you as an agent so there's certain things that need to be done and while things are still on the broker's name not transferred over to your new broker there's certain things that i am responsible for so in a hot market you want to get these things taken care of immediately so they can be put into your name if for some reason something sells during the time frame that it's in my name or if i have it assigned to somebody else that individual would be responsible to take care of things with that seller he can't just give up on them they would be able to receive part of the commission so let's go through this particular so that makes more sense to you d pending transactions if the associate's association with market center terminates the licensee may continue to pay the associate's commissions on closed transactions in accordance with the commission splitting slash captain policy or written team agreement as long as the associate continues to hold an active idle real estate license the associates shall get in writing from their team or group but will be paid to them on all pending and future transactions the office will not modify any payments without author written authorization from all of the parties involved and it is the associate's responsibility to get that in writing before leaving the transactions that you currently have pending with pending will close out under keller williams idaho you need to make sure that they are compliant and complete prior to being compensated please download copies of any and all transactions files you would like a copy of because soon your access to keller williams command your past online forms reform simplicity and the keller williams intranet will be terminated any commission checks that will be cut will be cut to us and then we will be able to compensate you once the file is complete and staff verifies compliance with all the file so it's very important talking not in the contract with what this means so it's very important that you get everything compliant sometimes people are confused because on a team the team is giving them a percentage well sometimes even on a team if you're not there and you're not doing your share that amount may be modified so you want to make sure you understand what happens if you're on a team if you're not on a team we will cut the check to you but if we have to do certain things to keep this file going there may be a reduction in how much you receive so please be careful e current listings and representation agreements all listings belong to the broker however if the sellers want to cancel the listing on any non-pending listings and let you re-list it with your new brokerage we are happy to do so if the associate shares listings or agency contracts co-listings with other associates in the market center the listings or agency contracts will remain with the market center but the associate may receive his or her fair share of the related commissions when and if a sell of the property closes make sure you have something in writing detailing what amount should be paid to you from the other co-listing agent before leaving the process should be a quick one until it is done all listings are transferred into the broker's name and he or she is required to take care of the listing you are not able to market them as the listing stands since you no longer work for our brokerage during this time the listing will be assigned to someone else and they are entitled to half of the listing commission if an offer comes in before you get it transferred because of this work quickly to get it canceled and re-listed on the mls with your new brokerage with that in mind please hurry to contact the sellers and get the appropriate forms completed and return to the broker for his or her signature if the seller wishes to stay with us and not switch brokerages then the listing will not be canceled and will remain with us we need to maintain contact with each seller so you must provide us a complete list of all contact information speaking outside of this your failure to give us that information thinking that oh it doesn't happen i don't need to do so may result in you receiving less of the commission because if you're hiding something and we have to go out and try to find it to communicate to protect these people that have hired our company our brokerage firm in which you are assisting the broker in that would be reduced letter f lock boxes you can ask staff to print out the list of the lock boxes that have been checked out to you so they can be transferred to your new brokerage any unaccounted for lock boxes will be charged to you the front desk can get you a list of lock boxes assigned to you so please make sure you keep that list current key fobs g you need to turn in any key fobs that you have immediately h you know insurance make sure you do not have a lapse in your eno policy once your license is pulled to your new brokerage you are no longer covered under our office's eno policy it is non-transferable and non-refundable we recommend that you apply for a tail policy prior to switching offices as well to pay your premiums or premium to your new carrier prior to making the switch and you can also pay that to your past character and have that tail policy supra e key i you must contact super to verify it will continue to work and that it will show you under your new brokerage or to cancel receiving bills to use it jmls verify with each mls that you are now being charged for services for you with your new brokerage and that you show up on the roster under them if a fee for services comes to us you will be required to pay it if you are not leaving the area or business then contact them to make sure that you are not charged for any future months okay the office bill verify that your participation fees office bill or agent account is paid in full if the associate owes the licensee any participation fees or other amounts including the e and o insurance premium at the time the associate's association with the market center terminates or if any amounts become due after termination the associate authorizes the licensee to deduct the amount due from any commissions for other amounts due to the associate until the associate's account that the licensee has been fully paid the licensee may also collect any funds from the associate by charging the associate's credit card that may be on file l remember if you're changing offices your new office will pull your license to their brokerage so be prepared for all of the changes that will happen when you're ready to do so your new brokerage should fill out a transfer form with each multiple listing service we will transfer the lock boxes but not the listing ask your new broker we would also like to conduct an excellent interview with you 10 representations the associate represents to the licensee that one the associate is duly licensed as a real estate associate broker or salesperson a real estate professional in the state of idaho in that the associate is currently licensed and authorized to act as a real estate agent two the associate is now is not now and has not been within the last five years independent of any lawsuit alleging professional misconduct or violation of any deceptive trade practices slash consumer protection law nor is the associate currently subject to an investigation by a real estate commission or comparable oversight body the associate must provide a detailed copy of any and all such activity in writing and is to be submitted with this document so if there's any concerns out there you need to let the broker know in writing three the associate expressly represents and warns that the associate is free to associate with the market center that the associate is not bound by a promise or commitment to any other real estate company agency association firm person or corporation that prohibits or prevents the associate from associated keller williams system including any non-compete agreements and alike number four no representative of the licensee in the market center keller williams realty international has represented that the associate can earn a living selling real estate whether working part-time or full-time the associate recognizes that the predominant method of earning income in the keller williams system is through the sale of real estate that any recruiting based income an associate may earn is purely supplemental b the licensee represents to the associate the licensee and the licensees operate in principle are duly licensed as a real estate broker licensee and sales agent the operating principal in the state of idaho 11. miscellaneous provision a if any provision of this agreement is bound to be void or unenforceable by any quarter arbitration panel the finding will have no effect on any other provision of this agreement and all other provisions will remain in full force and effect severability clause b this agreement including all applicable addendums and all policies and guidelines of keller williams realty international and or the market center issues including but not limited to the reference keller williams realty international policies and guidelines manual that is not attached constitute the entire agreement and understanding between the parties and this document supersedes any prior agreement or understanding related to the subject matter of this agreement no change amendment or waiver of any provisions of this agreement will be binding less in writing signed by both the associate and the licensee unless it is referring to the normal updates to this document by the licensee 12. safety policy keller williams recommends that when an associate is meeting a customer or client for the first time the initial appointment should take place at the office the associates should then ask the individual to provide a copy of their driver's license or other id for proper verification and to make a copy of it if an associate fails to follow the above recommendation and is meeting an individual and or group at a property for the first time it is recommended that they wait for them outside call the office staff or their staff with the address the buyer's name and automobile license plate number it is recommended that the associate allow the individuals to hear that conversation if an associate has any uneasy feeling when showing any property they should immediately call 9-1-1 it is also recommended to leave a list of properties and associated intents to show and to call the staff when completed to let them know all as well it is not recommended to show listings to customers or clients an associate doesn't know after hours without having someone with them the associate is advised to have another person with them on any and all showing 13 commission splitting and capping policies notwithstanding if the associate is new to the business an individual associate a married couple a member of a team or group or a commercial agent the following shall apply to all the associate agrees to abide by all laws rules codes ethics regulations bylaws and the like for any and all of the following entities they and or the company is a part of federal laws idaho state laws real estate and otherwise the national association of realtors the idle association of real force the greater idaho falls association of realtors the greater potello association of railforce the upper valley association of realtors the greater blackfoot association of railforce the boise regional realtor is the snake river regional multiple listing service the greater potello association of real force mls the intermountain mls the wasatch front regional mls the teton board of realtors mls and or any other mls or association of realtors that we are or may affiliate with the amount of money the associate contributes to the companies determined by the date the associate became affiliated with the company anniversary date it begins on the first day of the month following the associate's license transfer date or a date determined by the licensee and would remain that date each year thereafter if an individual associate joins a team or group the associate's anniversary date may be changed to the team or group anniversary date for accounting purposes when an associate leaves a team their anniversary date may be changed the first day of the month following the date they left the team or group royalty or also known as a franchise fee a six percent must be paid on all commissions until a total of three thousand dollars is paid during each associate's year with the company the year begins on the first day of the month following the associate's license transfer date or a date determined by the licensee and each year they're after royalty is calculated before splits royalty and commission splits unless the associate is capped on royalty and or commission splits will be paid on all brokered price opinions home warranty incentives and termination slash cancellation fees and referrals the royalty year date and the anniversary date may be different the following additional terms are for each as specified so here you need to be able to pay attention to if it's an individual or a married couple finding a joint tax return you have certain things if you're a member of the team there's different things as well and some of these can apply now and they change later depending on what you select a individual associate or a married couple filing a joint return the gross commission income gci shall be split seventy percent to the associate and thirty percent of keller williams realty's item the split until ten thousand dollars on this company dollar has been paid the keller williams realty east idaho up and until we come to the next anniversary date when it is reset and starts over after the ten thousand dollars has been paid the associate will only pay 125 dollars per side of a transaction up to the next 40 sites that close before the next anniversary date if the associate does not reach that amount then no additional fee would be owed once the associate has paid the transaction fees on the additional 40 sides of the transactions then the associate will receive 100 of his or her commissions until their next anniversary date b someone new to the business an individual associate all new associates who are in their first six months with an active real estate license or who have closed less than three transactions within the past 24 months will be participating in the keller williams realty's idol's productivity coaching pc program the pc program is compensated by the associate through the paying of a 10 referral fee to the pc program on any and all business conducted following the program this normally is for three months or until the associate completes his or her first three transactions whichever is longer each sales associate will sign a separate pc agreement prior to being activated as an associate with keller williams realty style the associate agrees to have the market center collect this fee from each closing and may pay the productivity coach on their behalf gross commission income gci shall be split 70 to the associate and 30 to keller williams idaho the split until ten thousand dollars known as company dollar has been paid to keller williams realty to idle up and until we come to the next anniversary date when it is reset and starts over after the ten thousand dollars has been paid the associate will only pay 125 dollars per side of the transaction up to the next 40 sides that close before the next anniversary date if the associate does not reach that amount then no additional fee would be owed once the associate has paid the transaction fees on the 40 sides of the transactions then the asso iate will receive 100 of his or her commissions until their next anniversary c team or group gross commission income gci shall be split 70 to the associate and 30 to the keller williams realty east idaho the split until ten thousand dollars in those company dollar has been paid to keller williams realty's idol up and until we come to the next anniversary date when it is reset and starts over after the 10 000 has been paid by the associate also known as a team lead or rain maker the associate will only pay 125 dollars per site of the transaction up to the next 40 sites that close before the next anniversary date if the associate does not reach that amount that no additional fee would be owed once the associate has paid the transaction fees on the 40 sides of the transactions then the associate will receive 100 of visitor commissions until the next anniversary date other associates who join the team of group are subject to an additional thousand five hundred dollar company dollar all members of the team or group must list homes in the team or group name all signs must be in the team leads name or the team or group name all individual team or group members are each responsible for an additional or an individual royalty fee d commercial the associate may also apply for keller williams commercial membership with approval of the licensee kw commercial is a division of keller williams idaho the associates who joined kw commercial mate use either keller williams items residential or keller williams realty east idaho's commercial signs all signs must have the keller williams realty's item name prominently displayed on the sign kw commercial membership requires a monthly payment of 125 dollars for the minimum of a 12-month term this fee is charged by keller williams real east idaho and will be added to the associate's monthly participation fee 14 lock box policy in order to assist you in the success of your real estate business keller williams realty's title provides their agents access to lock boxes this is done through the mls each agent is allotted the number of listings a lot of the number of listings they hold plus 10 for the number of boxes for example if an agent has 12 listings they're allowed up to 14 lock boxes you must check the lock boxes in and out with the agent services coordinator the front desk do not leave any lock boxes at the front desk without first signing the lock box register upon receipt for of each lock box the agent agrees to become the responsible party and must know the location of each individual lock box at all times upon returning lock boxes the agent signs that the lock box is in good working order and is no longer held responsible for the location of the lock box keller williams realty style will audit the entire lock box inventory twice a year and at such time it is imperative that you review the lock boxes listed under your name to ensure accuracy and accountability if any lock boxes being lost or stolen or if the agent cannot account for it the responsible agent will be billed 125 per box for the current replacement cost as deemed by the multiple listing service number 15 floor time policy participation participation floor time is optional before four-time schedule should be emailed by the 15th day of each month for the following month you must be available in office for phone calls and walk-ins during your shift the broker determines an agent's eligibility for floor time if the agent has not been approved by the broker then he or she shall not be permitted to participate substitution in circumstances where the agent is unavailable to fulfill their floor time a substitute must be arranged by the agent and the front office staff should be notified immediately the substitute must also be qualified to participate in wartime policy it is keller williams realty east idaho's policy when a customer asks for a specific agent for calls on a specific listing to transfer the call to the requested agent or listing agent if callers have no particular request the call will be sent to the agent on floor if you miss your scheduled floor time you may be taken off the schedule for the next month and may be asked to sign a new four-time request form to be placed back on the floor schedule for the following month for agents new to the real estate within the first year of licensure the agent must complete the scenarios with the broker before being qualified for floor time so contact the broker for that information schedule before time shifts are as follows monday through thursday mornings are 8 to 11 afternoons 11 to 2 evening 2 through the evening hours evening 2-6 is on friday weekends begin 6 pm on friday and goes through sunday reminder calls may be given the night before by the end of the business day for the weekend and monday morning shifts reminder calls may be given friday evening if we cannot reach you a voice message will be left and you must return a call letting us know that you receive the voice message to receive your poor time 16 personal transaction policy purchasing or selling your personal residence and or investment property is one of the greatest advantages you have as a real estate professional and it is our goal to preserve this advantage the following guidelines apply to personal transactions a personal transaction is a transaction which the associate is a principal if the associate is a principal in the purchasing cell or cell of a property then the associate must disclose on the contract they hold an active idaho an active real estate license in the state of idaho b the associate is required to pay royalty on any commissions received on their personal transactions until they reach their royalty cap of three thousand dollars company dollar will be waived on one side of a personal transaction per year on any commissions received should the associate take zero commission on more than one side of a personal transaction or on any other transaction and the associate has not capped on company dollar a fee of 30 of the outline commission outline company policy and commissions found in section 18 company policy and commissions fees and time frame for representation will be assessed to the associate please keep in mind that the enl care may not cover personal transactions 17 requirements to be a team or group no individual associate with our office is to advertise themselves as a team or group or in any way as an entity if they choose to do so then they must comply with these additional requirements and become a formal team or group these requirements go into effect on january 1st 2020 so we're wanting you to understand them now and begin incorporating them so that on that date you're good to go a in order for a team or group to be part of keller williams realty east idaho the team or group shall have its name in its name the words team or group the team or group shall have one licensed individual that is responsible for the team or group and he or she must have an active idle broker's license this individual will be responsible for the actions of the team or group and shall have the obligation to be available to customers and or clients of the team a group so let's talk about those two requirements so far when we're dealing with a team or group we've got a real estate commission and this is not into law yet it's going to go before the legislature as of the date of this recording they want to be able to understand that it is a team or group so if you have the name team or group in your team or group's name the public will know that and the real estate commission also so that they can find out who it is that you're affiliated with you also need to have your affiliation with so it could be such and such group with or affiliated with or part of keller williams realty east idaho so for advertising you must still have the company's full business name legible at the posted speed etc etc now the team or group needs to have one licensed individual that is responsible for the team regroup typically the rainmaker or team lead would be this person but they could have somebody else be responsible for that that has to have a broker's license now some people wonder that oh why don't they just go off and start their own office well they could if they wanted to but most people don't want to have that full liability responsibility in doing all those other things that are required when you have an office so this individual is kind of a go-between that all the members of the team can talk to for assistance by having a broker's license they know the laws because they had to pass them to get their broker's license they're still accountable to the broker the designated broker in this case me but they still would also have another person they could assist or talk to that would know the law let's continue 17c the team or group shall maintain a current list of all members on the team are grouped whether licensed or not with current names phone numbers and email addresses and will provide the said list to the designated broker and keller williams realty's idle when a change occurs d a copy of each team or group agreement will be kept on file with the designated broker and the brokerage for each team member this will be submitted to the broker and the brokerage at any time they join the team or group and if there's an update provide that as well 18 company policy on commissions fees and time frame for representation we don't want to be considered that there's a fixed or set fee but there's some type of price fixing happening with the offices in our area and because of such we post with the agents our company policy on fees so you as a sales associate member of a team etc must adhere to these rules this is the minimum standard that you can charge if you're going to modify it under that you need to talk to the broker me so 18a when an associate obtains a listing on behalf of the brokerage they shall charge the following and these figures are the minimum and it is the associate and the associate is authorized to collect more than the minimum amount as set would be low if the listing is under fifteen thousand dollars then a minimum of fifteen hundred dollars would be expected between fifteen and twenty nine nine nine nine a minimum of ten percent would be charged between thirty thousand and ninety nine nine nine nine a minimum of seven percent anything over one hundred thousand dollars for the list price is a minimum of six percent now the associate will pay will also put into the listing agreement a cancellation fee of at least one percent or 750 dollars whichever is greater the when the associate obtains a buyer representation agreement on behalf of the brokerage they shall charge the following and these figures are the minimum and the associate is authorized to collect more than the minimum amount is set forth below if the agreement to purchase is under fifteen thousand then a minimum minimum of seven hundred fifty dollars would be expected two from fifteen thousand and up a minimum of three percent three the associate will also put into the buyer representation agreement a cancellation fee of at least 750 or one percent see when the associate obtains a listing there is a minimum amount of time that is acceptable for the brokerage to have to adequately market the property or to work with a buyer as a client the following minimum time frame shall apply to all company representation agreements obtained by the associate one for most property listings a minimum of six months two for agricultural business commercial recreational farm and ranch land and the like a minimum of 12 months three for buyer representation agreements a minimum of three months paragraph 19 additional documents the following exhibits are an integral part of this agreement exhibit a agency policy exhibit b network acceptable use policy exhibit c social media usage policy exhibit d brokerage data privacy and sharing policy exhibit e compliance and indemnity agreement exhibit keller williams realties idol's policy and guidelines which is not attached exhibit g sexual harassment policy and exhibit h release of liability and waiver now here the associate would sign that and initial the bottom page and attached are those exhibits except for the one that were referenced here you can go through the company agency policy and the like as specified in this particular document if you have any further questions you know you can reach me at 208-234-4357 so this document would be done on an annual basis or sooner it could be updated but as of right now we're sending this out so that you can have an updated one and we can have one on file to make sure that you are with the independent contractor status [Music] you