Fill and Sign the Real Estate Contractor Form

Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker Agreement made on the _______________ (date) , between ____________________ (Name of Broker) of ___________________________________________________________ ______________________________ (street address, city, state, zip code) , referred to herein as Broker , and ______________________ (Name of Sales Representative ) , of ___________ ____________________________________________________________________________ (street address, city, state, zip code) , referred to herein as Sales Representative . Whereas, Broker is in the business of Brokering real estate loans and desires to engage Sales Representative to perform services on a continuing basis pertaining to such business; and Whereas, such services are generally originating real estate loans; and Whereas, Broker desires to retain Sales Representative to perform such services under the terms and conditions set forth in this Agreement; and Whereas, Sales Representative desires to perform such services under the terms and conditions set forth in this Agreement; Now, therefore, for and in consideration of the mutual covenants contained in this Agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. Retaining Sales Representative Broker hereby retains Sales Representative to perform the services described above under the terms and conditions set forth in this Agreement. 2. Relationship of Parties A. Sales Representative is an independent contractor and is not an employee, agent, partner or joint venturer of Broker. Broker shall determine the services to be provided by Sales Representative , but Sales Representative shall determine the legal means by which it accomplishes the services in accordance with this Agreement. Broker is not responsible for withholding, and shall not withhold or deduct from the commissions FICA or taxes of any kind, unless such withholding becomes legally required. Sales Representative is not entitled to receive the benefits which employees of Broker are entitled to receive and shall not be entitled to workers compensation, unemployment compensation, medical insurance, life insurance, paid vacations, paid holidays, pension, profit sharing, or Social Security on account of his services to Broker. B. Sales Representative shall comply with all laws and ethical standards applicable to real estate sales representatives and shall perform his duties in a manner consistent with generally accepted procedures for the profession of a sales representative. 3. Duties of Sales Representative A. Sales Representative agrees to perform any and all services generally performed by sales representatives in Broker's line of business, including, but not limited to, soliciting and obtaining new loan applications, performing such other services pertaining to the loan Brokering business as Broker may require of Sales Representative, and promoting the business of serving the public in real estate loan transactions to the end that each party to this Agreement may derive the greatest profit possible. B. Sales Representative agrees that any and all real estate loan applications shall be taken in the name of Broker and filed with Broker within 24 hours of receipt by Sales Representative. C. Sales Representative also agrees to maintain and hold a valid real property Broker's or Sales Representative's license throughout the duration of this Agreement. D. Broker shall have no right except to the extent required by law to direct or limit Sales Representative's activities as to hours, leads, production, prospects, reports, sales or training meeting, scheduling, time off, vacation, or other similar activities. 4. Compensation A. As compensation for performance of Sales Representative's duties under and pursuant to this Agreement, Sales Representative shall be entitled to a percentage share of commissions as follows: ______ % to Broker and _____ % to Sales Representative, or as may be subsequently set out in Broker's written policy. Such compensation shall be based on commissions actually collected by Broker from loans originated and closed by Sales Representative during the effective period of this Agreement and shall constitute full compensation for Sales Representative's services. B. If two or more Sales Representatives participate in a loan origination and/or closing the available commission shall be equally divided between or among the participating Sales Representatives or divided in a manner acceptable to Broker. 5. Duration of Agreement; Termination A. Engagement of Sales Representative shall commence on the effective date of this Agreement and continue until terminated as provided in this Agreement. B. Either party may terminate this Agreement by giving the other ______ (number) days' written notice. C. If Sales Representative's engagement is terminated while transactions are pending in circumstances that would require further work normally be performed by Sales Representative, Broker shall make arrangements to have the work performed by another party and the costs incurred for such substitution shall be deducted from Sales Representative's share of the collected commission. D. Upon termination of this Agreement by Sales Representative or Broker, Sales Representative will receive a full commission split for the first ______ (number) calendar days after termination. From _____ (number) to _____ (number) calendar days, Sales Representative will receive __ ____ % of Sales Representative's usual commission split. From ______ (number) to ______ (number) calendar days, Sales Representative will receive _ ____ % of Sales Representative's usual commission split. After ____ (number) calendar days all commissions will go to Broker. 6. Expenses A. Sales Representative shall pay for all necessary expenses incurred in performing this Agreement, including, but not limited to professional licenses and dues. B. Broker shall not be required to provide Sales Representative with an office nor shall Broker be liable for any expenses incurred by Sales Representative. 7. Advances A. Broker may, but is not obligated to, provide advances to Sales Representative. B. If, on termination of this Agreement, Broker has advanced sums to Sales Representative against commissions to be earned or if Broker has otherwise advanced Sales Representative any sums with which to pay professional fees or other items or expenses in excess of commissions actually earned by Sales Representative, Sales Representative must promptly refund the amount of the excess advances. All such advances are deemed loans to Sales Representative, and not as advance payment of commissions or reimbursement of expenses. 8. Facilities; Access to Listings and other Information A. Broker agrees to provide Sales Representative with use, equally with other Sales Representatives, of the physical facilities of the offices now operated by Broker in connection with the subject matter of this Agreement. B. Broker will give Sales Representative access to its confidential files pertaining to leads and prospects for the origination of loans, and other related matters. C. Broker shall also furnish Sales Representative personal contacts with persons interested in providing applicants for such loans, and shall generally aid Sales Representative in every way possible with respect to such loans and Sales Representative's duties. D. Nothing in this Agreement shall be construed to require that Sales Representative accept or service any particular lead or prospective lead given to Sales Representative. 9. Nondisclosure of Trade Secrets Sales Representative acknowledges that the information that will be furnished to Sales Representative concerning Broker's customers, leads, prospects, holdings, investments, transactions, and other confidential matters constitutes valuable, special, and unique assets and trade secrets of Broker's business. Sales Representative will not, during or after the term of the engagement under this Agreement, disclose any such information to any other person or entity for any reason or purpose whatsoever. 10. Indemnification Sales Representative agrees to indemnify Broker and hold Broker harmless from any and all claims, demands, and liabilities, including costs and attorneys' fees, to which Broker is subjected by reason of any action by Sales Representative taken or omitted pursuant to this Agreement. 11. Severability The invalidity of any portion of this Agreement will not and shall not be deemed to affect the validity of any other provision. If any provision of this Agreement is held to be invalid, the parties agree that the remaining provisions shall be deemed to be in full force and effect as if they had been executed by both parties subsequent to the expungement of the invalid provision. 12. No Waiver The failure of either party to this Agreement to insist upon the performance of any of the terms and conditions of this Agreement, or the waiver of any breach of any of the terms and conditions of this Agreement, shall not be construed as subsequently waiving any such terms and conditions, but the same shall continue and remain in full force and effect as if no such forbearance or waiver had occurred. 13. Governing Law This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of _____________. 14. Notices Unless provided herein to the contrary, any notice provided for or concerning this Agreement shall be in writing and shall be deemed sufficiently given when sent by certified or registered mail if sent to the respective address of each party as set forth at the beginning of this Agreement. 15. Attorney’s Fees In the event that any lawsuit is filed in relation to this Agreement, the unsuccessful party in the action shall pay to the successful party, in addition to all the sums that either party may be called on to pay, a reasonable sum for the successful party's attorney fees. 16. Mandatory Arbitration Any dispute under this Agreement shall be required to be resolved by binding arbitration of the parties hereto. If the parties cannot agree on an arbitrator, each party shall select one arbitrator and both arbitrators shall then select a third. The third arbitrator so selected shall arbitrate said dispute. The arbitration shall be governed by the rules of the American Arbitration Association then in force and effect. 17. Entire Agreement This Agreement shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of this Agreement shall not be binding upon either party except to the extent incorporated in this Agreement. 18. Modification of Agreement Any modification of this Agreement or additional obligation assumed by either party in connection with this Agreement shall be binding only if placed in writing and signed by each party or an authorized representative of each party. 19. Assignment of Rights The rights of each party under this Agreement are personal to that party and may not be assigned or transferred to any other person, firm, corporation, or other entity without the prior, express, and written consent of the other party. 20. Counterparts This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which together shall constitute but one and the same instrument. 21. Compliance with Laws In performing under this Agreement, all applicable governmental laws, regulations, orders, and other rules of duly-constituted authority will be followed and complied with in all respects by both parties. 22. In this Agreement, any reference to a party includes that party's heirs, executors, administrators, successors and assigns, singular includes plural and masculine includes feminine. WITNESS our signatures as of the day and date first above stated. ________________________ _______________________________ (P rinted Name of Broker) (P rinted Name of Sales Representative) ________________________ _______________________________ (Signature of Broker) (Signature of Sales Representative )