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Terms and Conditions
, and the electronic agreement as set forth below.
This is an electronic Membership and referral Agreement made and entered into the day of Friday 7 March 2014, by the publisher of RealEstateLeads.Pro, (hereinafter referred to as "Company"), and a licensed Real Estate agent/broker (hereinafter referred to as "Member").
WHEREAS: Company provides advertising, lead generation, and business management services for real estate agents and loan officers;
WHEREAS: Member wishes to contract the services of Company to generate leads and schedule appointments with real estate buyer and seller prospects;
WHEREAS: This agreement sets forth the terms, pricing, and other conditions between the parties;
NOW THEREFORE, in consideration of the mutual covenants and agreements set forth herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows:
1. Company will provide lead generation and appointment scheduling services for Member.
2. Company will generate leads and schedule appointments with buyer and seller prospects for Member. Seller prospects will be scheduled at the prospect's property and buyer prospects will be scheduled at the Member's office or designated location.
3. Company will schedule appointments for Member in the states which Member is licensed. Member will provide the zip codes, towns, cities, or counties in which they wish to receive leads.
4. Company will schedule appointments for Member with real estate leads and will provide Member the name, telephone, address, date, time, type of lead, and any comments.
5. Company and Member agree that the definition of a valid appointment is when a prospect has indicated an interest in either buying or selling property and has agreed to consult with a licensed real estate professional. A valid appointment will have the prospects name, address, telephone number, appointment date, appointment time, type of lead, and any additional comments. In addition, a valid appointment means that the prospect must show up or be present for the appointment either in person or by telephone.
6. For each appointment scheduled by Company, Company will contact Member and provide the general location, type of prospect, notes, and intentions of the prospect as provided to Company by the prospect. Member may either choose to accept or reject the appointment at the time Company contacts Member with the prospect description.
7. Member will follow up on all leads at the appointed date and time and will notify Company immediately if Member is unable to meet with a prospect.
9. Member will pay Company a referral fee equal to thirty percent (30%) of the gross commission for any real estate transactions closed by Member from any lead provided by Company. Gross commission means any amount paid to Member or the Member’s broker from a transaction which was closed as a result of a Company lead. Company’s commission will be paid at the time of closing by the escrow/settlement/title company. The gross commission would be based only upon the side of the transaction which was generated from a lead provided by Company. For example, if a lead is the seller, and Member finds a buyer from a different source other than Company, the gross commission would only be a total of the seller’s side of the transaction. Company may assign their rights under this Agreement to any third party.
10. Member agrees that all leads are owned by Company for a period of three years from the date a lead is generated by Company, or a transaction has been closed by Member from a Company lead, whichever is later. For example, if a prospect sells a property and buys another property, Member would pay 25% of the gross commission to Company for both transactions if the transactions take place within three years of each other.
11. Member understands that if a real estate lead is a buyer, in most circumstances, a loan officer will have already been recommended by Company and the Buyer will have already been pre-approved unless the Buyer is a cash buyer or is looking for owner financing. Member is not obligated to accept any buyer prospect.
12. Member will provide feedback and comments on the quality of each appointment so that Company can continue to improve the services provided.
14. Company maintains a web based customer relationship management and transaction management platform. Member will keep the status of leads updated in Company’s customer relationship management and transaction management system.
15. Member and Company agree that they will settle any and all disputes through arbitration. Any decision made by an arbiter shall be legally binding. Arbitration proceedings of this agreement shall be in accordance with the existing rules of American Arbitration Association for resolution of commercial disputes.
16. In case either party engages arbitration, venue for arbitration shall be in Fairfax County, Virginia, or by telephone.
17. This Agreement shall be governed, interpreted and construed by, through and under the laws of the state of Virginia.
18. Company and Member recognize and acknowledge that the information that will be furnished to her/him concerning either party's customers, listings, holdings, investments, transactions, or other confidential matters constitutes a valuable, special, and unique asset and trade secret of their respective businesses. Confidential information will only be used to close transactions as set forth in this Agreement.
19. This Agreement constitutes the entire contract and agreement between parties, and there are no verbal understandings or other agreements of any nature with respect to the subject matter hereof except those contained in this Agreement.
20. The invalidity or unenforceability of any portion of this Agreement shall not affect the remaining provisions and portions hereof.