Membership Checkout

Broker and Independent Contractor (Agent), agree to the following terms and conditions:

1. Period:

• 1 year, beginning today.
• Agreement shall renew annually, automatically upon each anniversary hereafter.
• If agent elects E&O payable annually, it will be due upon execution of this agreement, and upon each anniversary hereafter. If not received, payment defaults to a “per transaction” (transactional) basis.

2. Agency:

• Upon execution, Broker shall retain Agent as an "Independent Contractor", herein referred to as “Agent”, as defined under Section 3508 of the Internal Revenue Code. This Agreement does not constitute a hiring by either party, and neither party shall be liable for any obligation incurred by the other.
• Broker will supervise in accordance with NRS 645.
• Agent is free to devote their real estate business activities as they see fit, definite hours or quotas are not required. No mandatory duties except those specifically set out in this Agreement. Nothing in this agreement shall be regarded as an employee relationship, workman's comp will not be provided.

3. Income Taxes:

• If an Agent earns $600 or more in the calendar year, Broker will issue a 1099 before February 1st of the following year.

4. Termination:

• This Agreement shall be deemed terminated upon the occurrence of suspension, revocation or termination of Agent's real estate license
• Broker may terminate this agreement for any reason, at the Broker's sole discretion.
• Pending sales, contracts, property management agreements and listing agreements effectuated during the term of this Agreement belong to the Broker and may be transferred at the Broker's discretion.

5. Indemnification:

• Agent will indemnify and hold harmless the Broker from any and all claims which may arise out of, in the course of, or relate in any way to the Agent’s performance of his or her duties.

6. Errors and Omissions Insurance:

• Broker shall carry Errors and Omissions Insurance to cover all Agents. $1,000,000 for each claim, and $1,000,000 aggregate, with a $10,000 deductible.
• In the event of a lawsuit, Agent shall be responsible for 100% of the Errors and Omissions insurance deductible.
• In the event the claim does not qualify for submission to the E&O carrier or coverage is denied under the terms of the policy, the Agent shall be responsible for 100% of the total cost of the claim.
• Agent can select E&O payable “annually” or on a “transactional” basis.
• E&O election (initial one): Annual $299 or; Transactional $99

7. Automobile Insurance:

• Broker does not maintain automobile insurance coverage that extends to the Agent or any other contractor. Agent shall maintain automobile insurance coverage meeting or exceeding the minimum liability limits required by Nevada law. If available by the insurer, Agent will name TRENDING REALTY GROUP LLC as an additional insured.

8. Compliance:

• Agent shall abide by all applicable laws, ordinances and regulations, including, without limitation, local, state and federal laws, fair housing laws, and regulations relating to real estate licensing, real estate transactions, real estate service businesses, telemarketing, marketing, intellectual property rights, etc.
• Agent must have State and local business licenses, in addition to their real estate license, and agree to provide evidence thereof upon request. Broker will not be liable for fines or penalties incurred on behalf of Agent's non-compliance.

9. Policies and Procedures:

• Agent acknowledges that a policy manual may be incorporated into this ICA now or in the future. Based on the evolution of the company, polices and procedures are subject to change.
• The Broker will notify the Agent of new policy and procedure as it is added or amended, however, it is the Agent's responsibility to request policy and procedures, as needed in order to effectuate their duties.

• Agent shall maintain an active membership with Las Vegas REALTORS® (LVR), or if in a different locale, join a local board affiliated with the National Association of REALTORS®.
• Agent shall abide by the rules of ethical conduct established by the National Association of REALTORS®. Agent’s advertising and promotion must be completely factual and ethical. In all dealings, Agent shall adhere to the highest standards of professionalism, ethics and integrity, and adhere to the statutes and rules of the State of Nevada and any requirements of the MLS.
• If the Agent will perform Commercial Real Estate services, Commercial Alliance Las Vegas (CALV) membership will be required.
• For any REALTOR® board that requires the brokerage to pay the fees upfront, the Agent shall reimburse the Broker within 10 days of invoice for the same.

• Agent WILL NOT be a member of a REALTOR® organization or MLS. Agent cannot use another REALTOR's credentials to use the MLS database, or any other REALTOR specific proprietary tools, including forms and/or SentriKey access. Agent may transfer to TRENDING REALTY GROUP LLC, if and when they decided to join.

11. Training:

• Agent agrees to be trained by Broker or third party instructor, in the manners and methods that Broker, in Broker’s sole discretion, deems appropriate and necessary.
• Agents are encouraged to ask questions and request training in any area they feel delinquent in.

12. EMD Handling:

• It is encouraged to direct clients to deal directly with a qualified title/escrow company and to avoid handling client funds.
• Any funds received by the Agent must be in certified funds written only to the title/escrow company, and must be delivered to the title/escrow company within 1 business day of an executed contract.

13. Broker Price Opinions:

• BPO's are a paid service and not to be confused with a Comparative Market Analysis (CMA). BPO's are not permitted. Fees for CMAs are NOT permitted.

14. Power of Attorney:

• Agent is not permitted to act in this capacity, or permitted to sign on behalf of any person in order to effectuate a Real Estate contract.

• Residential - The Agent will receive 92% commission on a residential transaction.
• Commercial - The agent will receive 90% commission on a commercial transaction.
• Dual Agency - Transactions in which the Agent is the only licensee, will incur NO additional fees or double commissions. However, TC and E&O may incur a fee for each side. This includes FSBO and FRBO.
• Payments – The agent will receive payment direct from the title company's escrow account. In the event the escrow company cannot disburse directly, TRENDING REALTY GROUP LLC will direct deposit, or issue a check within 3 days of closing. Insufficient paperwork may delay or prevent commission payout. Commission advancement services are only permitted with expressed permission from the Broker.

• Residential - The Agent will receive 82% commission on a residential transaction.
• Commercial - The agent will receive 80% commission on a commercial transaction.
• Dual Agency - Transactions in which the Agent is the only licensee, will incur NO additional fees or double commissions. However, TC and E&O may incur a fee for each side. This includes FSBO and FRBO.
• Payments – The agent may receive payment direct from the title company's escrow account. In the event the escrow company cannot disburse directly, TRENDING ASSOCIATES will direct deposit, or issue a check within 3 days of closing. Insufficient paperwork may delay or prevent commission payout. Commission advancement services are only permitted with expressed permission from the Broker.

• The agent is advised to have a written Referral Fee Agreement when operating in a team capacity or sharing commission with another agent. In the event of a dispute, and if there is no agreement, commission will be divided among the parties at the sole discretion of the Broker.

• As an incentive, if Agent refers to the Broker of TRENDING REALTY GROUP LLC, Commission from TRENDING ASSOCIATES will be 100% and no additional fees.
• If Agent refers to another Agent or outside Broker, Commission will be deducted as per section 15 (commission) above.
• The agent is advised to have a written Referral Fee Agreement when operating in a team capacity or sharing commission with another Agent or Broker. In the event of a dispute, and if there is no agreement, commission will be divided among the parties at the sole discretion of the Broker.

17. RESPA:

• The Real Estate Settlement and Procedures Act (RESPA), prohibits specific practices, such as kickbacks, referrals, and unearned fees. For example, Section 8 prohibits any person from giving or receiving something of value in exchange for referrals of a settlement service business.
• A listing Agent can, on behalf of the property owner, only “suggest” a specific title/escrow company be used. To demand such is a RESPA violation and is not permitted, as only the buyer can select the closing company.
• The Agent understands RESPA and agrees not to violate the provisions thereof.

18. Gratuity and Bonuses:

• If a Seller or Buyer offers incentive that is not written into a contract, then it shall pass directly to the Agent in entirety. Nothing will be due to Broker. The agent will be solely responsible for reporting this income, or equivalent value, to the IRS.
• In the event this bonus is from a Listing Broker and is contingent upon an effectuated closing, the Broker will receive a percentage according to the applicable commission rate in this agreement.
• Agent will notify the Broker upon receipt of any such funds.

19. Proprietary Information:

• Agent agrees not to disclose or utilize proprietary information (whether now existing or hereafter created or acquired) developed, created, or discovered by the Broker, or which became known by, or was conveyed to the Broker, which has commercial value in the Broker’s business.

20. Membership:

• Annual fee renewed and payable according to the period in section 1.
• Agent must be compliant with all terms/conditions herein or membership may be revoked.