By subscribing or signing any of the forms on this website, the Associate acknowledges the following terms and conditions which are futher detailed in the back office.
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 original 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. This Agency does not accept emailed contracts. All associated original documents must be uploaded to our CRM & Transaction Desk as indicated in the back office. Associate agrees to follow up on his/her deals in order to receive the commission split stated in the Affiliation Agreement with a 30 day notice to terminate. Otherwise Agent will unilaterally terminate in the back office.
Associate understands that without a 30 day notice to terminate, the Associate will not be compensated for any sales. Furthermore, if the brokerage finds that the Associate has violated the license law or associated federal laws, the brokerage reserves the right not to compensate the Associate at all or at the very least until after a final investigation has been completed with the state real estate commission.
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 sufficient follow up with their transactions, we reserve the right to assign a follow up Agent to close out their transactions and may receive a 10% follow up fee upon closing. This firm reserves the right to terminate the agreement with the Associate at any time or upon notice of an involvement with violations from the Real Estate Commission caused by the Associate. The company shall not be obligated to defend any disciplinary actions or pay any fines, penalties, commissions or award resulting from any disciplinary action.
All parties agree to arbitration versus litigation in the event of a dispute, parties agree to provide in writing immediately before proceeding with arbitration or any law suit as it relates to this Firm, AK & Associates Family Limited Partnership (DBA) doing business as Diamond Realty Brokers. AK & Associates Family Limited Partnership owns the U.S. Trademark to Diamond Realty Brokers. Diamond Realty Brokers Corporation is a separate entity and is not associated with the Indpendent Contractor or Affiliation Agreement. All disputes arising out of commissions or earnest money with other real estate firms, builders or developers whether licensed or unlicensed must be disputed in writing to your Association & this firm.
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 credit card information online in the back office account under the “Account” section. 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. Agent will receive notice of expired or insufficient funds of credit card. However, after 7 days of an expired card, insufficient funds or unresponsive Agent, license and/or access could be inactivated.
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 unless.
Monthly dues & Add Ons can be found on the link below:
80/20 Split or 50/50 Lead Split
100% commission paid after $3 Million annual sales volume confirmed in our CRM and Associated MLS membership. The $3 Million in sales volume must be repeated annually (every year) before 100% split is paid. In other words, your sales reset every year.