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INDEPENDENT CONTRACTOR AGREEMENT FOR FLORIDA REAL ESTATE AGENTS

(PROGRAM #1 “TRADITIONAL”)

 

This Agreement (the "Agreement") is made and entered as of 26th day of September 21, by and between CARDINAL REALTY GROUP LLC, A Florida limited liability company (the "Broker"), and (the "Associate").

FACTUAL BACKGROUND

  1. Broker is licensed, pursuant to Florida Statutes, Chapter 475, as a real estate broker authorized to perform real estate brokerage services within the State of Florida.
  2. Associate is duly licensed (i.e., the license is current, active and in good standing) by the State of Florida to act as a real estate sales Associate.
  3. Broker wishes to retain Associate as an independent contractor to provide real estate services for Broker’s business and Associate wishes to provide such services to clients or customers of Broker as an independent contractor.
  4. Broker has offered Associate a choice of two (2) different Independent Contractor Agreements (each, a “Program”) to enter. Each Program varies as to the amount of monthly payment to Broker and/or the commission split. Associate has Chosen the “Traditional Plan”

AGREEMENT

Based upon the facts stated above, the parties now agree as follows: I. Recitations.The factual recitations set forth above are true and correct and form the basis of this Agreement. 2. Associate Status as Independent Contractor.
    1.  This Agreement does not constitute a hiring of Associate by the Broker, nor a partnership or joint venture between them. It is the parties’ intention that Associate shall be an independent contractor and not Company’s employee for all purposes, including, but not limited to, the application of the Federal Insurance Contribution Act, the Social Security Act, the Federal Unemployment Tax Act, and the provisions of the Internal Revenue Code. Associate shall retain sole and absolute discretion in the judgment of the manner and means of carrying out Associate’s activities and responsibilities hereunder. Associate shall be entitled to engage in any activities which are not expressly prohibited by this Agreement. Broker shall monitor and control the activities of Associate only to the extent required by Chapter 475, Florida Statutes.
    2.  Neither federal, nor state, nor local income tax nor payroll tax of any kind shall be withheld or paid by Company on behalf of Associate or any employees of Associate. Associate shall not be treated as an employee with respect to the services performed hereunder for federal or state tax purposes.
    3. Because Associate is engaged in Associate's own independent business, Associate is not eligible for, and shall not participate in, any employer pension, health or other fringe benefit plan, of the Company.
    4. Associate understands that Associate is responsible to pay, according to law, Associate's income taxes. If Associate is not a corporation or other entity, Associate further understands that Associate may be liable for self-employment (social security) tax, to be paid by Associate according to law.
    5. All expenses incurred by Associate in connection with services provided hereunder are the sole responsibility of Associate. By way of example and not limitation, Associate shall pay any dues in respect of realtor associations, licensing fees, continuing education, insurance, car expenses, etc.
    6. Associate has no authority to obligate or bind the Broker by any agreement, whether oral or written, unless expressly authorized to do so, in a writing executed by Broker. All claims, actions or lawsuits involving fees or commissions shall be brought solely by, and in the name of, Broker.
III. Associate Obligations. During the term of this Agreement, Associate shall:
  1. At all times, maintain its license in current status, including timely renewal thereof.
  2. Comply with all requirements for continuing education.
  3. Comply with all laws, rules and regulations concerning discriminatory practices under the Fair Housing Act.
  4. Conduct herself in a professional manner, consistent with the rules of the Florida Real Estate Commission (FREC) and with the policies and practices as adopted and amended from time to time by Broker in its' Office Manual
  5. Deliver to Broker within twenty-four (24) hours of receipt, any funds or other property of a client that has been given to Associate relating to any real estate transaction.
  6. Pay to Broker the sum of $100.00 per transaction.
  7. At all times maintain an active membership with either the Miami Association of Realtors or Broward, Palm Beaches & St. Lucie Realtors.
IV. Broker Responsibilities. During the term of this Agreement, the Broker shall:
  1. Have sole authority to establish and negotiate fees and commissions.
  2. Maintain and prosecute, in its sole discretion, and in its' name, all claims for fees and commissions.
  3. Maintain its license in active and current status throughout the term of this Agreement.
  4. Maintain its records and files as required by FREC.
V. Compensation
  1. Associate will receive 93% of all commissions earned from real estate transactions in which Broker is identified as the Broker and Associate is identified as an agent in the sales contract, less the transaction fee stated above. All commissions shall be payable within three (3) business days from the date the funds are cleared in brokers bank account. However, in the event Broker, in its sole discretion, decides to retain an attorney to collect or sue another party for commissions or fees due from a real estate transaction in which Associate is an agent, any fees and expenses incurred by Broker will be deducted from the commission payable to Associate, and Broker shall be entitled to retain 50% of the remaining balance as compensation for its time and effort relating to the collection.
VI. Broker Property.
  1. Associate acknowledges and agrees that all of Associate's listings and pending sales are the property of Broker. Promotional materials, logos, customer lists, business records (including closing files) computer programs and business methods are the property of, and proprietary to Broker. Upon termination of this Agreement, Associate may transfer its listings to a different Broker with the written consent of the client.
VII. E & O Insurance.
  1. Broker maintains errors & omissions insurance coverage which also provides coverage to Associate. Associate acknowledges and agrees that it is responsible to pay any deductible applicable to a claim involving Associate. This provision will survive termination of this Agreement
VIII. Termination
  1. Either party may cancel this Agreement at any time upon thirty (30) day written notice. Broker may also cancel this Agreement at any time for cause. Upon termination; (i) Associate shall promptly return to Broker any property of Broker in the possession or control of Associate; and (ii) Broker shall pay Associate any commissions earned prior to termination less any amounts that Broker pays to another associate (in Broker's sole discretion) to complete any of Associate's work on a transaction pending, but not closed as of the date of termination
VIII. Confidentiality
  1. Associate acknowledges and agrees that during the term of this Agreement, that it will learn information that is confidential and proprietary to Broker. Such information includes but is not limited to: customer and client lists, financial information, sales, projections, business plans, marketing plans and data, computer programs, websites, data and such other information that a reasonable business person would understand or consider to be confidential or proprietary. Associate shall not, during the term of this Agreement or for a period of five (5)0 years from the date of termination hereof, duplicate or disclose such confidential or proprietary information.
X. Miscellaneous
  1. Office/Conference Room. Associate may use the physical offices of Broker with Broker's consent. Use of Broker's conference room is permitted only by confirmed reservation made three (3) days in advance.
  2. Escrow. Broker does not maintain an escrow account. Escrow services are provided to broker on a non-exclusive basis by Bay Title Company, however Associate is free to utilize the escrow services of any law firm, licensed title company or other reputable brokerage as Associate deems proper.
  3. Realtor Association. Broker is a member of one or more local Realtor Associations or Boards (for ex., “Miami Board of Realtors”). As stated above in Section II E, the cost of membership/dues in any such association is the responsibility of Associate. In the event that Associate does not wish to join a Realtor Association, then Associate shall automatically become an Associate of CARDINAL REALTY 360 LLC (an affiliated brokerage of Broker).
  4. Dispute Resolution. All claims or disputes between Associate and any other associate of Broker shall be finally decided by Broker. Any claims or disputes between Broker and Associate will be resolved through mediation, the cost of which will be shared equally by Broker and associate. In all cases, Florida law will control.
  5. Condition. This Agreement will be effective only after Associate has set up the monthly recurring payment to Broker, by ACH debit or automatic credit card charge in accordance with a separate registration to be provided by Broker. The recurring payments will continue until the date of actual termination of this Agreement (i.e., thirty days after a thirty notice of Termination is given and received). If the termination occurs prior to the fifth day of a month, any payment received by Broker for that month will be refunded to Associate. Otherwise, Broker shall retain the full payment for that month.
  6. Program Change. In the event Associate wishes to enter into a new Independent Contractor Agreement with Broker under a different Program than in this Agreement, the commission payable to Associate as set forth in Section V, above, shall continue in effect for a period of six (6) months from the date Associate gives notice to Broker of Associates decision to change to a different Program.
  7. Entire Agreement. This Agreement constitutes the entire understanding and agreement of the parties with respect to the subject matter hereof. This Agreement may not be modified orally, but only by a written instrument.
  8. Notice. Any notice required or permitted under this Agreement shall be by U.S. mail, hand delivery, fax or email to the other party at such address, fax number or email address as is provided below or as subsequently provided in writing to the other party.

Broker Associate
CARDINAL REALTY GROUP LLC
16666 NE 19 Ave., Suite 113
N. Miami Beach, Fl. 33162
E-mail: Info@Cardinal.Realty

WEB: www.CardinalMiami.com

IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first above written.

BROKER

CARDINAL REALTY GROUP LLC

  By:  ______________________________________________________

Adam Supraski, Broker

 

ASSOCIATE

By: 
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