Real Estate Independent Contractor Agreement

The real estate independent contractor agreement is a work contract between a real estate agent (also called a “sales associate”) and an agency in which the agent is working as an independent contractor. Many real estate agencies hire agents as employees, which entails paying a regular salary or hourly rate as well as paying insurance costs on behalf of the employee. When an agency hires an independent contractor, the contractor schedules their own work time and must acquire their own insurance. The contract outlines the basic terms of the agreement, which is considered to be month-to-month and may be terminated by either party by issuing a written notice. If the agent stands to be awarded a draw on future commissions and a commission on their sales, these must be stated in the contract. In some cases, the contractor must be a member of the local Association of Realtors. Under this contract, the real estate agent cannot subcontract their work to other agents. The agreement becomes legally binding once both parties have provided their signature, it becomes legally binding until either party terminates it.

Sample Template

How To Write

1 – Acquire The Real Estate Contractor Agreement From This Site

Select the link labeled “Download (PDF, 131KB)” and save the file to your system. A PDF editor will allow you to work on screen before printing it for signing however, if this is not an option, you may print it from your browser once you open it.

2 – Declare The Date And Parties Attached To This Paperwork

This agreement shall be divided into several topics. Some topics will not require any attention while others will need your input to supplement the wording properly. The first of these topics will be a statement following the first labeled item (article “I. The Parties”). Here, click on the first blank line and record the month and calendar day when this paperwork becomes active then, the appropriate year on the blank line that follows. The next part of this sentence requires the full name of the “Salesperson” furnished to it. Produce this person’s identity on the blank space after the phrase “…By And Between” The word “And” will continue this statement with a distinct area where the legal name of the hiring Real Estate Business must be presented with its principal office address. The first blank line following this divider is reserved for this entity’s name (including applicable suffixes). The three spaces following this information require the street address, city, and state of this address produced in their respective spaces.

3 – Discuss The Sales Person’s Credentials And Agency Status

The second article of this document will need just a few basic facts. Thus locate the first blank line presented after its label, “II. The Salesperson,” and report the state where the Salesperson is legally allowed to “…Solicit Real Estate.” After the discussions on “Status” and “Licensing,” part “C.) Board Of Realtors” will need some definition. If this contract requires that the Salesperson is “Required to become a member of the local “Association Of Realtors” then mark the first checkbox in this item and deliver a timeline after the Effective Date (of this contract) defining when the Salesperson must acquire such membership on the blank line provided (as in the example below). If not then mark the box preceding the label “Not Required.”

Part “F.) Fees” will address the topic of the fees and expenses selling real estate generates. If the Salesperson is exempt from any of these costs then a solid definition to these exemptions must be produced on the blank lines after the item labeled “F.) Fees.” Part “G.) Draw” requires an indication as to whether the Salesperson is entitled to a draw. If not, then mark the first checkbox statement. If the Salesperson will be compensated with a draw then mark the second box (“Shall Be Paid”) and record the amount of each payment on the blank line after the dollar sign. Additionally, you must record whether this payment will be made every “Week” or every “Month” by marking either the first checkbox or second checkbox (respectively). Afterward, you must list either the “Date” of the last payment or a time frame after the first payment that will define how long these payments will be made.

4 – Establish Some Conditions Where Requested

The seventh article, “VII. Termination,” presents wording regarding how this agreement may end but will require that you enter the number of days the Terminating Party must give as notice to the remaining Party when ceasing the terms of this contract. In “VIII. Commissions,” the commission percentage the Agency must pay the Salesperson (once it has been paid the Client Commission) should be entered on the blank line preceding the percent line in part “A.) Payment Of Commissions” As mentioned earlier, one party may have to give another notice of a change in status. To facilitate a clear line of communication, each party must have a reliable means of contact documented in “XI. Notice.” This section will have one area that expects the “Mailing Address,” “E-Mail,” and “Fax Number” where the Salesperson can be reached and another area where the Agency’s “Mailing Address,” “E-Mail,” and “Fax Number” must be produced. The fifteenth item, “XV. Governing Law,” needs the name of the State where this agreement is effective and will be enforced by the courts when necessary.

5 – Finalize This Agreement With Any Required Attachments Then Execute It

The twenty-seventh article in this paperwork allows for any additional provisions that are expected to be upheld to be documented. This is because this agreement will only apply its contents to both parties as it exists at the time both have signed it. Use the blank lines in this article to include such additions. The end of this document will have two sections; “Agency” and “Salesperson.” A Representative authorized by the Agency to act as its Signature Party must sign the blank line labeled “Agency Representative’s Signature” then print his or her name on the “Print Name.” Immediately after performing these actions on behalf of the Agency, he or she must enter the signature “Date” The “Salesperson” entering this contract with the Agency above must read it then confirm its accuracy by signing his or her name on the “Salesperson’s Signature.” This action must be followed by the Salesperson’s production of his or her printed name (on the “Print Name” line) and signature “Date.”