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Affiliation Agreement Form


INDEPENDENT CONTRACTOR AGREEMENT for LICENSEES

THIS AGREEMENT made and entered into this date by AGENT

and between DIAMOND REALTY BROKERS a Georgia company DBA Diamond Realty Brokers, whose corporate address is set forth below and a Georgia resident whose address is set forth below (hereinafter referred to as Associate). 

Agents acknowledge they must first enter into an Affiliation Agreement with the Brokerage before joining the Brokerage. 

                                                                           WITNESSETH:

WHEREAS DIAMOND REALTY BROKERS, is a duly licensed real estate brokerage engaged in all aspects of real estate brokerage business in metropolitan Atlanta, GA unless Agent is licensed in one of the other states Diamond Realty Brokers is licensed. If so, Agent must inform Broker to add that state to this Agreement. 

NOW, THEREFORE, in consideration of the mutual promises, covenants and agreements contained herein, it is agreed as follows:

  1. TERM OF AGREEMENT

(a) This agreement shall be for a period beginning on the effective date hereof and continue to the end of the calendar year and shall automatically renew each calendar year thereafter, unless terminated as provided herein.

(b) Either party may terminate this Agreement for any reason whatsoever by giving the other party one (1) day written or verbal notice of such termination, unless otherwise mutually agreed upon.

  1. RELATIONSHIP OF PARTIES

Associate or Agent and DIAMOND REALTY BROKERS, agree that Associate is not an employee of AK & Associates Family Limited Partnership or DIAMOND REALTY BROKERS for Federal tax purposes, state income tax purposes, state workers’ compensation laws or for any other purpose. Associate agrees that he/ she shall be a “qualified real estate agent” for purposes of Section 3508 of the Internal Revenue Code because Associate is a licensed real estate sales associate performing services in connection with the sale of real property, including without limitation, advertising, showing and selling real property, leasing real property and the recruitment, training or supervision of other real estate sales persons. Associate further agrees that substantially all of the (a) remuneration received be Associate through this Agreement shall be directly related to sales of real estate or other output rather than number of hours worked.

(b) Associate further agrees that Associate is an independent contractor under this Agreement within meaning set forth in O.C.G.A. 34-9-1(2) regarding workman’s compensation in Georgia. 

(c) Associate and DIAMOND REALTY BROKERS have established an independent contractor relationship as permitted by O.C.G.A. 43-40-30-1 regarding real estate brokers and salespersons in Georgia. 

(d) Associate and DIAMOND REALTY BROKERS agrees that DIAMOND REALTY BROKERS has no right to control the time, manner or method of performing services by Associate pursuant to this Agreement. 

(e) Associate agrees to be fully responsible for all federal, state, and/or local income taxes and social security taxes. Associate also agrees to complete a W-9 Form for tax purposes. 

(f) Both parties agree to conduct their affairs and activities so as not to cause either party’s real estate license to be placed in jeopardy.

  1. RESPONSIBILITIES OF ASSOCIATE

(a) Associate shall act as an independent real estate sales associate in soliciting purchasers and/or leases and the like, for real estate and any interest therein. Associate in so acting agrees to adhere to all of DIAMOND REALTY BROKERS policies and procedures as published from time to time. Associate agrees that any and all listings of real estate or any interest therein shall be taken in the name of DIAMOND REALTY BROKERS. For marketing purposes approved under the Georgia Real Estate Commission and/or any applicable Multiple Listing Service. AK & Associates, FLP. DBA (doing business as) DIAMOND REALTY BROKERS & Angel Knight Enterprises LLC. dba Diamond Realty Brokers USA for the state of Florida. Diamond Realty Brokers and Angel Knight are registered names & trademarks by AK & Associates FLP.

(b) All fees associated with ANY applicable Multiple Listing Service shall be deducted from commission of Associate. Associate understands Multiple Listing Services, Boards or Associations may charge certain fees such as listing withdrawal fees, duplicate listing fees, rental input fees etc...at which time the Agent will be responsible for payment due immediately upon receipt before a completed transaction. FMLS charges a .0012% fee from the sales price regardless if the Agent represented the buyer or seller which is deducted from the commission. Agent also understands any fines charged to the company based on inaccurate information from the Agent will also be charged to the Agent. For example, listing a condo as a residential detached listing. 

(c) Associate agrees that commission is earned only when and if the contract results in a funded closing. 

(d) From time to time, Associate and DIAMOND REALTY BROKERS, may enter into a written modification of the division of commissions set forth above for a particular transaction. 

All parties agree Agent MUST upload ALL binding contracts, exhibits & forms to Diamond Realty Brokers Hub. Agents agree to login regularly for updates on policies, procedures, best practices, business development, transaction management & marketing etc. It is standard policy for independent contractors of DIAMOND REALTY BROKERS to make sure all parties related to the contract have an original copy. In addition, remember all changes to a contract MUST be initialed followed by date & time of ALL parties on the contract. 

(e) In an effort to prevent identity/cyber theft & for safety/security purposes, Associate should use best practices to ensure customers are Pre Approved with a lender before property showings. It is the responsibility of the Associate to contact the lender on the Pre Approval letter to verify the information is correct, validate they have actually pulled credit & the identity of the customer. The Associate will make sure the lenders representative office number and business address on the Pre Approval or Proof of Funds Letter is correct. Associate understands that it is best to contact the lender or representative at an office number due to misrepresentations of others. If a customer is a cash buyer, they still need to send the Associate a Proof of Funds letter from their bank representative on bank letterhead, with a direct office contact of the bank representative who will verify the stated amount on the letter is correct. Associate understands that bank statements alone are not Proof of Funds and can also be misrepresented information. As a best practice, the Associate can also request a copy of the buyers drivers license and upload it to their CRM for proof of identity. Associates should confirm sellers contact information through tax records using their CRS data access or Narrpr.com access. There is a Free App that can be downloaded from the App Store called Real Estate Guard which Associates can share their locations when showing property & automatically signal for help. Associate is also encouraged to use the Showingtime App to schedule appointments. 

(f) Once a contract is binding, Diamond Realty Brokers should receive a copy via Diamond Realty Brokers Hub/CRM of all Purchase & Sale Agreements, Exhibits, Buyer & Seller Brokerage Agreements etc. within 72 hrs. According to the license law, the Brokerage should have a copy of your contract or listing as soon as it's signed by all parties. Instructions are provided in the Back Office. Note: If the Agent is not representing the buyer then Purchase & Sale Agreement must state, “Selling Agent is NOT representing the buyer” Otherwise you must include a Buyer Brokerage Agreement. 

(g) Associate agrees they will complete 9 hours of continuing education EVERY YEAR as required by their state’s Real Estate Commission. 

(h) DIAMOND REALTY BROKERS reserves the right to mandatory meetings with the Associates regarding training, sales, rules & regulations regarding state or company policies & procedures. 

(i) ALL Agents with less than 3 years of consistent active experience AND Agents whom have completed less than 12 transactions should complete at least 6 hrs of continuing education the first 12 months. 

NOTE: Mandatory Classes such as Transaction Desk, Matrix & Annual Contracts Courses are listed in our online Back Office. NOTE: Examples of Pre filled forms & contracts can be found in the back office. 

(j) Diamond Realty Brokers is a member of the Atlanta Realtors Association. For TN REALTORS we’re members of Tennessee Association of REALTORS & Greater Nashville Association. Therefore, Agents have to become a member of the Association or Agent’s license will be inactivated without an additional written notice. Agent pays any annual REALTOR dues to the board directly within 60 days. 

(k) Diamond Realty Brokers or Agents DO NOT hold earnest money, rent, escrow or security deposits for lease, purchase/sale or any transactions. Use appropriate REALTOR Association forms that designate the closing attorney to hold earnest money in the contract or the landlord to hold their own security deposit.  Do NOT accept security deposits, escrow, or rents on behalf of Diamond Realty Brokers. 

(l) All Associates understand the commission prohibits advertising listings on Social Media, Craigslist, Youtube, Facebook, Instagram, Twitter etc..if the listings do not belong to them unless they have the owner or owners authorized agents authorization in writing. Refer to O.C.G.A. 43-40-25 & 520-1-.09 (2) & (3).  

  1. TERMINATIONS

Either party may terminate. Agent may terminate by unsubscribing from monthly fees on their account page in the back office. Associate understands it is the responsibility of the Associate/Agent to ensure their binding and non binding contracts, closing statements and any contract related documents are uploaded to the Brokerage Hub/CRM before asking for their license to be removed, terminated or inactivated. Agent takes full responsibility for making sure the Brokerage has their paperwork in our Hub/CRM. This statement refers to any contracts within the last 3 years since the brokerage retains documents for 3 years. Associate agrees to follow up on his/her deals in order to receive the commission split stated in this agreement with a 30 day notice to terminate. Otherwise Agent may terminate at any time in the back office. Associate understands a final monthly payment is due in the month of termination because MLS bills in advance. In the event the Associate does not provide consistent follow up with their transactions, DIAMOND REALTY BROKERS reserves the right to assign a follow up Agent to close out their transactions. The Agent that leaves with deals from company leads will pay a 10% follow up fee upon closing. DIAMOND REALTY BROKERS reserves the right to terminate the agreement with the Associate at any time according to the above mentioned procedure. 

  1. MEDIATION

All parties agree in the event of a dispute, parties agree to provide in writing immediately and proceed with arbitration as it relates to Diamond Realty Brokers. All disputes arising out of commissions with other real estate firms must be disputed in writing to your Association & Diamond Realty Brokers.

  1. FEES & COMMISSION SPLIT 

The FEES & commission split between DIAMOND REALTY BROKERS AND AGENT are as follows:

On the first day of every month OR a month after the Agent SIGNS UP on the Back Office website, Agents monthly fee is due & automatically deducted as an ACH debit or E-check. All fees are due BEFORE the Agents license will be active. 

Agents are responsible for updating their own debit/credit card information in the back office. In essence, the same way you initiate payment processing online, is the same way you'd update your credit or debit card info should your card expire or if your card is unable to be charged for any reason. It is the Agents responsibility to update their debit or credit card if information has changed before monthly fees are due. Agent will receive notice of expired or insufficient funds of debit/credit card. However, after 7 days of an expired card, insufficient funds or unresponsive Agent, license and/or access will be inactivated without additional notices. Payments by mail are NOT accepted. 

Agent understands if Agent is charged with a MLS, Board or Association fine/fees/dues that the Agent will be charged by Diamond Realty Brokers if we are sent a bill on their behalf. In a case of insufficient funds, Diamond Realty Brokers can inactive Agents license. Also licensee will be responsible for any bank fees that Diamond Realty Brokers is charged by it’s bank as a result of Agents insufficient funds. All Application, Set Up &/or Monthly Fees are Non Refundable. 

Associate understands E&O insurance is included in dues. The state of Florida & Tennessee may allow Agents to pay MLS dues directly to the MLS. Boards often change their policies. Agents actively licensed in the state of Florida & Tennessee will also pay an annual upfront $150 Fee toward E & O insurance for that state. 

Monthly Fees: (Agent will be redirected to pay fees after signing Affiliation Agreement)

Monthly dues & Add Ons can be found on the link below: 

drbagent.com/multi-member

Plan A - New Agents 

70/30 split 

Select:

 

PLAN B - Experienced Agents 

80/20 split 

Select:

 

PLAN C - TOP PRODUCERS

100% PLAN - $3 Million proven recent annual sales required.

$500 Transaction Fee

Select:

 

Agents on Plan A or B will also be compensated on the 100% plan every year after $3 Million in annual sales.

 

REFERRAL INCOME 

EARN 3% on referring Agents to Diamond Realty Brokers 

Receive residual passive income from Agents you referred to the company.

Revenue you receive is from Qualifying Brokers split portion from referred closings.

Agent must reference the referring Agent through our documented Transaction instructions prior to closing.

Not available on 100% commission plans.

 

Depending on your state, Agents can get paid at closing at McMichael and Gray or Weissman Law if notified 3 days prior to closing. Agent agrees to check the back office for ALL instructions on transaction management, direct deposit, pay at close instructions & all policies & procedures. 

Associate Name

Please enter Associate/Agent Street Address, City State & Zipcode 




Please enter Associate/Agent Email & Cell#   

 

Please enter Associate/Agent License Number (Type N/A if just passed state exam)

Please enter Associate/Agent SS# (which will be followed by a W-9 signed by the Agent) 



Please enter Associate/Agent Tax ID# & Business name ONLY If you'd like your business to be paid instead of being paid personally. 




Enter Birthdate 

 

AUTO INSURANCE

I agree to add AK & Associates Family Limited Partnership DBA Diamond Realty Brokers to my auto insurance policy as an additional insured. I understand this is to protect the Associate in the event the Associate is involved in an accident while conducting real estate business. I understand the best method to cause less risk is to NOT drive prospects in my car. I understand I can meet sellers at their property for a listing appointment or meet buyers at properties once they've provided Proof of Funds. 

AUTHORIZATION FOR ACH DEBITS/CREDITS & E-Checks

Please email a copy of your voided check for direct deposit upon signing.

I authorize Diamond Realty Brokers to automatically charge my credit card account as specified in the Independent Affiliation Agreement for amounts due. This includes MLS or State Board charges billed to the Brokerage due to MLS or board compliance fines/violations from myself as the Agent. I understand that I must also enter my card info online to actually initiate monthly payment processing. 

I further ensure that all information including my social security number or EIN id number are correct as I have double checked it. I further understand that if Diamond Realty Brokers can’t activate my license online that it is my responsibility to make sure that I contact my current brokerage to ask them to release my license before it can be activated with Diamond Realty Brokers. 

 

FINAL STEP: After payments are received, the Brokerage will sign the necessary sponsoring broker forms or license activation applications. The real estate commission typically activates your license within the same week. If your license is already active with another company, we can activate your license online the day your payment is processed. However, if your license is currently on inactive status, you will need to send in an activation, change application or sponsoring broker from to the real estate commission. You will receive a copy of this Agreement upon signing. 

 

Diamond Realty Brokers

Angel Knight - Founder

1075 Peachtree St. NE

Ste 3650 

Atlanta, GA 30309

broker@diamondrealtybrokers.com

 




  • AGENT Sign Contract

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Signed by Angel Knight
Signed On: September 14, 2020

DRB Agent | REALTOR https://drbagent.com
Signature Certificate
Document name: Affiliation Agreement Form
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Timestamp Audit
February 20, 2020 9:46 pm EDTAffiliation Agreement Form Uploaded by Angel Knight - angel@diamondrealtybrokers.com IP 99.56.186.82
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