As HOMEiA provides top quality contents to its audience, the trust HOMEiA built along with high ranking HOMEiA gain on Google is a benefit to HOMEiA’s certified member professionals.Our goal is to help great professionals establish great reputation individually and professionally for years to come. Sign-up to be a certify real estate professional on HOMEiA today!
THIS REAL ESTATE REFERRAL AGREEMENT (“Agreement”) is entered into by and between HOMEiA Real Estate, LLC, (“Agent”), and/or (“Receiving Broker”).
Terms: The term of this Agreement will commence upon the Agent’s OR his/her Receiving Broker’s electronic signature (the “Effective Date”). Either party may terminate this Agreement upon ten (10) calendar days’ written notice. Any Referrals made prior to such termination are still bound by this Agreement. (Initial)
Fee: Receiving Broker agrees to compensate HOMEiA Real Estate, LLC within ten (10) business days after any successful closing or lease execution, an amount equal to twenty-five percent (25%) of the commission that Receiving Broker and Agent were entitled to receive from the transaction involving the Potential Client (the “Referral Fee”). If the Receiving Broker and Agent represent both a buyer and seller on the same transaction (dual agency) and only one side is referred by HOMEiA, the Referral fee will be 25% of ½ of the total gross commission of the entire transaction. The Referral Fee is calculated based on the commission received prior to the Agent’s split with the Receiving Broker. In the event a Receiving Broker contends that any referral was not authorized by the Receiving Broker, or if the Agent or Receiving Broker directly purchases the property from the Potential Client, the Agent executing the Referral Agreement will be liable for the entire Referral Fee. (Initial)
Period: Upon accepting HOMEiA Real Estate’s referred Clients (Buyer/Tenant/Seller/Landlord), Receiving Broker and its Agents agree the Referral Agreement is a Twenty-Four (24) months contract from the date on which the Agent OR Receiving Broker accept the referral lead of the Potential Client. By accepting the lead(s), Agent and Receiving Broker acknowledge that HOMEiA Real Estate has the procuring cause and Agent and Receiving Broker do not have prior contact with the Potential Client. The Referral Fee will apply to the initial transaction as well as any other real estate transactions involving the Potential Client that become binding or close during the Referral Period. (Initial)
Participation: Are mutual between Receiving Agent/Broker and HOMEiA Real Estate and can be terminated by either party at any time upon the delivery of the written notice. However, any referrals made prior to such termination, referral terms, fee, period are still bound by this agreement. (Initial)
Fiduciary: Agent and Receiving Broker agree to perform the services hereunder in a manner that follows NAR's Code of Ethics and Standards of Practice. In no event will Agent or Receiving Broker take any action that would result in the disparagement of HOMEiA Real Estate’s reputation, image or goodwill with its Clients, its potential clients, or the public at large.
Electronic Signatures - All party acknowledge and agree that electronic signature of this Agreement by submittal to HOMEiA Real Estate complies with The Electronic Signatures in Global and National Commerce. Act (E-Sign Act), 1. (Initial)
Representations and Warranties - Agent and Receiving Broker agree that for the entire Referral Period, Receiving Broker: (A) will be and will maintain itself as a duly licensed real estate broker; (B) has full power and authority to enter into this Agreement and perform; (C) has full authority to bind the brokerage company on whose behalf he or she is signing; (D) will be liable for any payments due hereunder in the event that any of these representations and warranties are false. (Initial)
Breach of Agreement - In the event that Agent or Receiving Broker breach their payment obligations hereunder, the parties agree that Receiving Broker will pay to HOMEiA Real Estate additional compensation equal to 50% of the amount otherwise due hereunder, along with all costs of collection. (Initial)
Assignment & Records - This Agreement may be assigned by HOMEiA Real Estate without Receiving Broker’s or Agent’s prior written consent in connection with any merger or sale of all, or substantially all, of HOMEiA Real Estate’s assets or stock. This Agreement may be assigned by HOMEiA Real Estate with notification to Agent and Receiving Broker shall the Agent and Receiving Broker does not fulfill his/her fiduciary duties to the referred client’s. Agent and/or receiving Broker agree to provide a copy of the ALTA Settlement Statement to referring Broker or its agent for record keeping. Referring Broker reserves the right to maintain check points with referred client during and after a successful transaction. (Initial)
Collection Fees - In the event of any legal disputes between the parties, the prevailing party will be entitled to recover reasonable attorneys’ and collection fees from the other party. The parties waive any rights which they may have to a trial by jury. This Agreement will be governed by Minnesota laws, without regard to its conflict of law’s provisions. Any disputes will be venue in the state and federal courts in Minnesota. (Initial)
Indemnification - Agent and Receiving Broker agree to defend, indemnify and hold HOMEiA Real Estate harmless from any damages, costs, expenses, judgments or attorney’s fees and litigation costs or expenses arising from any allegations asserted by a third party or Client. (Initial)
The parties hereby agree that the referral fee shall be fully paid by the Receiving Broker/Agent no later than 10 business days after the transaction is completed. Note: Referral fees may be subject to withholding tax or other forms of taxes in the country in which the transaction takes place. Referring agents should be aware of state, provincial, or local laws in their respective markets with regard to paying referrals.