We are happy to provide you with a copy of your Dalton Wade Independent Contractor Agreement (ICA). Since this document is stored in a third-party system, please allow up to one business day for DW Support to retrieve and send it to you after your request.
INDEPENDENT CONTRACTOR AGREEMENT
Dalton Wade, Inc. Corporate Offices 260 1st Avenue South St. Petersburg
FL 33701(“Broker”) and Sales Associate or Broker Associates
(“Contractor”), hereby agree as follows:
1. INDEPENDENT CONTRACTOR STATUS – Contractor agrees to work for Broker
as an Independent Contractor, and not as an employee, however,
Contractor understands that Broker is legally accountable for the
activities of the Contractor. All costs and obligations incurred by
Contractor in conducting his/her independent business shall be paid
solely by Contractor, who will hold Broker harmless from any and all
costs and obligations. Contractor will act independently as to the
management of his/her time and efforts, and will be responsible for
timely payment of all of his/her own expenses, such as industry
association dues, licensing renewals, cellular telephones, signage,
business cards etc., as they are incurred.
Contractor understands and agrees that, because Contractor is an
Independent Contractor and not an employee of Broker, Broker will not
withhold any Federal or State Income Tax, Social Security (FICA) or
Unemployment (FUTA) taxes from Contractor’s commissions paid. Contractor
is personally responsible for paying any and all Federal and State
Income taxes, Social Security and other taxes, and for maintaining all
expense records as required by law, and represents to Broker that all
such amounts will be paid when due. Contractor shall indemnify and hold
Broker harmless from any liability or costs thereof. Contractor further
understands and acknowledges that Broker provides no Workman’s
Compensation coverage. Contractor hereby specifically waives such
coverage and represents to Broker that he/she understands that, if
Contractor desires such coverage, Contractor must personally obtain such
coverage directly from the an insurance carrier of Contractor’s
choice, at Contractor’s sole expense.
2. AGENT INFORMATION – Agent will keep Broker updated with any changes
to personal information such as mailing address, phone numbers, email,
etc.
3. BROKER SUPERVISION – Contractor will be deemed to be working under
Broker’s supervision only to the extent required by applicable state
law. Contractor will perform all activities, including those activities
Broker requires Associate to perform independently without Broker’s
supervision or control.
4. BROKER RESPONSIBILITIES – Broker will compensate Contractor in
proportion to Contractor’s output with regard to real estate-related
activities and not to hours worked by Contractor. Such compensation will
be solely through commissions as described below. In the event of
conflict between Broker’s office policy manual and this Agreement, the
terms of the office policy manual will prevail. Broker may deduct from
Contractor’s compensation any amounts due from Contractor to Broker.
5. LICENSE & REALTOR STATUS – Contractor is and shall remain
licensed and good standing with their state licensing authority,
throughout the term hereof. If not currently a Realtor®, Contractor
will, within 30 days of the date of this contract, become a member of an
approved Association of REALTORS® and will adhere to the REALTOR® Code
of Ethics and the Multiple Listing Service Rules and By-Laws. Contractor
will always conduct him/herself in full compliance with their states
Statutes and the Rules and Regulations of their Real Estate Commission
and in a way which reflects the high standards of the Broker.
6. LICENSE RENEWAL; CONTINUING EDUCATION; DUES – Contractor will be
responsible for timely renewing Contractor’s real estate license and for
completing all legally required continuing education in a timely manner
and maintaining the records that evidence such completion as required
by their state Real Estate Commission. Contractor will be responsible
for paying all license fees, membership dues and fines.
7. COMMISSIONS AND FEES – Contractor will pay no monthly fee and as
commissions are earned Contractor will earn 100% of the commission minus
a transaction fee of $390 per transaction for purchase and sales and a
$79 transaction fee for rentals. All such commissions will be promptly
paid to Contractor by Broker after receipt and processing, less any
amounts owing to Broker. Payment of any and all commissions is subject
to Broker receiving a complete sales file. All disbursements will be
made no later than 72 hours after complete sales file submission and
funds clearing broker’s bank account. In most cases agent will be paid
at closing!
8. COLLECTION OF FEES – Broker will not be required to prosecute or sue
any party in order to collect any fee for services performed by
Contractor. However, if Broker incurs attorney’s fees and costs in the
collection of or attempt to collect a fee, such amounts will be deducted
from Contractor’s commission in the same proportion as provided for
herein in the division of the fee.
9. ERRORS & OMISSIONS INSURANCE – The Errors and Omissions Insurance
carrier shall be chosen at Broker’s discretion. Contractor understands
that he/she is responsible for payment of the deductible amount
(currently $5,000) upon request, for each Errors and Omissions claim.
This deductible may change yearly. Contractor will be notified of any
change. Contractor shall immediately notify Broker of any circumstances
likely to give rise to any kind of claim or complaint against Contractor
and/or Broker. In the event of a claim, lawsuit, license complaint or
Arbitration demand which is not wholly covered by insurance, Broker may
withhold from Contractor’s commissions payable, an amount adequate to
satisfy any amounts not covered, which Broker shall place in its Claims
and Disputes Retention Account, pending settlement or other disposition
of the matter. Broker may, in Broker’s sole discretion, apply such sums
as necessary to settle or to satisfy any such claim or award, and
Contractor agrees to cooperate fully in this regard. Contractor
understands that, from time to time, the Principals of Broker may deem
it necessary to obtain legal consultation concerning one of Contractors
transactions; Contractor agrees to reimburse and indemnify Broker for
any Attorney’s fee reasonably incurred by Broker to obtain legal advice
concerning such transactions(s).
10. AGENT AS A PRINCIPAL (BUYER OR SELLER OF PROPERTY) – Contractor
agrees indemnity and hold Broker harmless from any claims, demands,
complaints, Realtor® arbitration’s or other actions made against Broker
as a result of any transaction in which Contractor acts as a principal.
11. HOLD HARMLESS – As a material provision of this agreement, agrees
that, for all actions that Contractor does during his/ her contractual
relationship with Broker, Contractor will forever indemnity and hold
harmless Broker, their heirs, successors, spouses and assigns, from any
and all claims, complaints, causes of action, Realtor® arbitration
demands, damages and liabilities of every kind whatsoever, whether known
or unknown, including without limitation of any action, omission,
negligence or any other basis of liability or complaint, in any forum,
brought by any third party against Broker. No action or complaint
arising out of a real estate transaction in which Broker was involved
may be brought by Contractor before anybody, against any third party,
without prior written consent of the Broker. If the Broker initiates any
litigation or arbitration action on behalf of the Contractor or if the
Broker must defend any action of the Contractor in litigation or
arbitration, Contractor will pay all related filing fees and attorney
fees.
12. PROTECTION OF CONTRACTOR’S LISTINGS AND CONTRACTS – In the event
that Contractor terminates his/her contractual relationship with Broker
or Broker terminates his/her contractual relationship with contractor
for any reason, any and all listings obtained through the efforts of
Contractor during the term of this Agreement shall be withdrawn by
contractor and re-listed with Contractor’s new brokerage, without
penalty once any outstanding balance for dues, charges or fees due to
Broker are brought up to date.
Pending sales, whether seller or buyer representation or referrals, will
be referred to Contractor’s new brokerage with a referral fee to Broker
equal to 25% of the gross commission.
13. TRANSACTION DEFINED – For purposes of this Agreement, the term
“transaction” shall be defined as the recording of the deed following
the sale of real estate, or the execution by all parties of a lease,
where a commission is paid to Broker as a result of the efforts of
Contractor. Contractor agrees that Broker has the right to hold and/or
apply any commissions owing to Contractor, as may be necessary to pay
for or secure any obligations of Contractor hereunder.
14. MLS FINES OR ARBITRATION– Contractor agrees to reimburse the Broker
for the amount of any fine charged, arbitration or court loss charged to
the Broker for any infraction caused by the Contractor, by any MLS
board for infractions of board rules by cash payment or by authorization
of credit card charge or commission adjustment, which is hereby granted
to Broker. Broker will be compensated 20% of any arbitration award or
court judgment, to compensate company for time, company legal expenses
and costs accrued by such arbitration or court action.
15. ESCROW – Broker does NOT maintain escrow service. All escrow
services should be provided by a 3rd party independent Title/Escrow
Company.
16. BROKER PRICE OPINION (BPO) – Contractor agrees to turn any and all
paperwork originated from conducting BPO and the BPO themselves into the
office the day they are completed. Contractor agrees they are
conducting BPO at their own risk and it is not encouraged by Broker
unless the Contractor has been certified or trained by a state
recognized institution for conducting Broker Price Opinions. Contractor
will indemnify and hold Dalton Wade, Inc., broker, its officers,
directors and employees harmless from all claims, demands, suits, costs
and expenses, including reasonable attorneys’ fees at all levels, of
whatever nature and description to the extent based on Contractors
representations; acts; omissions; negligence; willful misconduct; or
violation of laws, rules, regulations, codes of ethics, any and all
claims from Contractor conducting Broker Price Opinions (BPO). All costs
and obligations incurred by Contractor conducting his/her independent
business and/or the practice of Broker Price Opinions shall be paid
solely by the Contractor, who will hold Broker harmless from any and all
costs and obligations.
17. FAIR HOUSING – Broker supports and practices Fair Housing
principles. Contractor has been advised that failure to comply with Fair
Housing principles will result in appropriate disciplinary action and
possible termination of this Agreement. Contractor warrants and
represents that it is Contractors intent to attend Fair Housing
instructional programs, keep current on developments in Fair Housing as
it affects real estate marketing and sales, and comply with the Fair
Housing laws and regulations. Contractor understands this
acknowledgment, warranty and representation and agrees to it
voluntarily.
18. OFFICE POLICY MANUAL – In addition to this document, Contractor will
receive a manual with policy and daily operation guidelines that
Contractor agrees to comply with. Contractor has read and is encouraged
to print a copy, and agrees to comply with the manual and such
modifications, addenda and changes as may be incorporated therein from
time to time.
19. CONFIDENTIALITY – Contractor acknowledges that Broker may disclose
confidential information to Contractor during the course of this
Agreement. Any such information that is or should be reasonably
understood to be confidential or proprietary to Broker, including
mailing lists, customer and client lists, sales, costs, unpublished
financial information, product and business plans, projections,
marketing data, computer data, computer programs and supporting
documentation and Broker’s office policy manual are considered
confidential property of Broker. Internet practices, marketing practices
and functionality of
www.joindaltonwade.com and
www.daltonwade.com and
any and all company websites are considered confidential information and
practices of the broker. Contractor will take reasonable steps and use
due care during the term of this Agreement and for 36 months after its
termination to prevent the duplication or disclosure of confidential
information and practices.
20. MEDIATION OF DISPUTES – In the event of a dispute involving two or
contractors, all of whom are licensed with Broker, Contractor authorizes
the Designated Broker for Dalton Wade, Inc. sole and absolute
discretion in resolving said dispute. Contractor agrees to abide by the
decision of the Designated Broker. Contractor also agrees to hold
harmless and indemnify Dalton Wade, Inc. and it’s designated Broker
against any claim, action or lawsuit of any kind. These shall include
the following: any loss, judgment, or expense, including attorneys’
fees, arising from or relating in any way to the resolution of said
dispute.
21. BROKER DATABASE OF BUYER/SELLER LEADS – Contractors Leads in Brokers
database of leads are the property of the Contractor provided the
Contractor has paid in full for such leads or the leads have been
generated via the Contractors sole efforts. Leads in Brokers database
of leads that have been co-funded by the Broker with the Contractor will
be divided upon the pro rata funding of such leads. Contractor leads
paid for or generated by the Broker are the property of the Broker.
There is no time expiration regarding a lead being subject to a referral
fee. A lead will continue to generate a referral fee for two years
after the leads first closing with Dalton Wade.
22. TERMINATION OF AGREEMENT – This Agreement may be terminated
immediately by Broker for cause, or upon three calendar days written
notice by Broker or Contractor. Contractor agrees that a violation of
any of Contractor’s obligations hereunder shall constitute cause for
immediate termination of this Agreement. In the event this Agreement is
terminated by Broker for cause, Contractor agrees that any ongoing
obligations of Contractor hereunder shall survive the termination of
this Agreement.
23. ACCEPTANCE OF THIS AGREEMENT – Effective upon your acceptance of
this agreement and all necessary documents and/or information have been
received by Broker; you as the “Contractor” become an Independent
Contractor for Dalton Wade, Inc.
By accepting this agreement you indicate you have read, understand and
agree to be bound by this agreement. You also agree to the terms and
conditions of the entire agreement with no modifications.
All parties to this agreement are bound in accordance with Dalton Wade,
Inc. policy and procedures manual and as amended in the future.
Dalton Wade, Inc. reserves the right to modify this agreement and will
notify all agents via email.
The undersigned agree to the terms and conditions set forth above and
acknowledge receipt of a copy hereof.