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Real Estate Loan Broker And Sales Representative
EMPLOYMENT - REAL ESTATE LOAN BROKER AND SALES REPRESENTATIVE
AGREEMENT FOR EMPLOYMENT
This agreement is effective as of [date effective], by and between [name of broker], of [address of broker] hereinafter referred to as broker, and [name of sales representative], of [address of sales representative] hereinafter referred to as sales representative.
PART I.
STATEMENT OF ENGAGEMENT
Broker is in the business of brokering real estate loans and engages sales representative to perform services pertaining to such business. The sales representative agrees to the terms and conditions listed bellow:
PART II.
RELATIONSHIP OF PARTIES
1. Both parties agree that sales representative is an independent contractor and not an employee of the broker.
2. Sales representative shall comply with all laws and standards applicable to real estate sales in the state of [state where business is conducted]. The sales representative and promises to perform [his or her] duties in a manner consistent with generally accepted procedures for sales representatives.
PART III.
DUTIES OF SALESPERSON
1. Sales representative agrees to perform any and all services performed by sales representatives in brokers line of business, including but not limited to the following .
2. Sales representative agrees that all real estate loan applications shall be taken in the name of broker and filed with broker within hours.
PART IV.
COMPENSATION
The sales representative will receive compensation for performance of duties as follows: [Percentage paid to sales representative]%, or as may be stated the brokers written policy.
This section should also include any other factors that will have an impact on commission and how it will be calculated.
PART V.
DURATION OF AGREEMENT; TERMINATION
1. This agreement shall commence on [date effective] and continue until terminated as provided in this agreement.
2. Either party may terminate this agreement with [days notice to terminate] written notice.
PART VI.
EXPENSES
1. The sales representative shall pay for all necessary expenses related to performing this agreement, including, but not limited to [Description of expenses].
PART VII.
FACILITIES; ACCESS TO LISTINGS AND OTHER INFORMATION
1. The broker agrees to provide sales representative with use of facilities operated by the broker.
2. The sales representative will have access to files pertaining business related matters such as: [Description of files].
PART VIII.
NONDISCLOSURE OF TRADE SECRETS
The sales representative understands and agrees that the information that will be furnished to sales representative concerning is confidential and valuable to the brokers business. Sales representative will not, during or after the term of the engagement disclose any such information.
PART IX.
ENTIRE AGREEMENT
This agreement is the entire agreement and there are no other agreements of any nature with respect to the subject matter contained in this agreement.
PART X.
NOTICES
All notices between the parties shall be in writing. All notices must be delivered personally, or by mail the parties at the address stated in this agreement or as may be subsequently given.
PART XI.
GOVERNING LAW
It is agreed that this agreement shall be governed by, construed, and enforced in accordance with the laws of the State of [State of juridiction].
PART XII.
ASSIGNMENT OF RIGHTS
The rights of each party under this agreement are for that party and may not be transferred to any other [list restrictions].
In witness whereof, both parties agree and have caused it to be executed at [location of execution] on [date of execution].
Signature Date
Signature Date