Team Member Agreement

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SEARCHHOMESNETWORK.COM

FINDING YOUR DREAM HOME

Team Member Agreement NAME _____________________________________________ ROLE _____________________________________________ START DATE ______________________________________

Congratulations, you have been extended an offer to join “ The Search Denver Homes Team at Keller Williams”, The Search Denver Home Team is a subsidiary of Search Homes Network LLC, hereby referred to as “THE TEAM,” in which _____________________ Independent Contractor, referred to as the “TEAM MEMBER” or “AGENT” understands the commitments to this agreement.

This partnership agreement is written in the spirit that you will be starting as a licensed real estate agent at Keller Williams Integrity and acting as a Listing/Buyer Specialist. Agent agrees to work exclusively as an Agent for The Team.

You are to work with and train under The Team as a Team Member.

Your general responsibilities will include but are not limited to; prospecting with The Team for Buyer and Seller appointments, converting and working to a successful close of seller leads and buyer leads of The Team and your sphere. This includes getting buyer/seller representation contracts signed, showing homes, coordinating with vendors, negotiating contracts, home inspections, advising buyers/sellers, administrative tasks, sales tasks, lead generation, and other necessary activities.

Employment Relationship You will be an independent contractor of Keller Williams Integrity Market Center and The Team. You will remain in control of your actions as befitting an independent contractor. There are mutual standards and expectations of your independent relationship with The Team that, should you choose not to perform, can result in immediate termination.

Likewise, The Team makes commitments and expectations to you that, if not fulfilled, you have the right to terminate without notice your relationship with The Team.

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You will be paid via 1099 from Keller Williams Integrity. You will be responsible for your tax liabilities, reporting to the IRS, health insurance, and other items as expected and outlined in the Independent Contractor agreement outlined

by Keller Williams Integrity.

Mutual Expectations & Standards The Independent Contractor, as a representative of The Team, must always exhibit the utmost care, candor, and professionalism that promotes and represents not only The Team but also Keller Williams Realty International and any KW Brokerage affiliation to The Team in the highest manner possible. Any acts that discredit, degrade, or could be considered damaging to any of these organizations, or their allied resources, could result in an immediate termination of this agreement.

The Team will provide leads to you of prospective or potential sellers/buyers of real estate.

The Team will provide you with multiple CRM and technology tools to assist in your lead conversion.

The Team agrees to provide professional one-on-one coaching and ongoing training to aid in better-converting buyer/seller leads, transaction coordination, client retention, and building and expanding a successful business.

The Team shall provide you with relationships with lenders, title partners, and outside vendors. The agent must maintain, keep, and use these relationships.

The Team agrees to provide you with Transaction Coordination services such as KW file compliance, coordinating earnest money delivery, Inspection Coordination, client/lender/title communications, Commission Disbursement processing, review, closing coordination, and support at all times.

The Team agrees to provide you with Listing Manager Services such as scheduling photography, sign installation coordination, MLS Input, property descriptions, KW file compliance, and support at all times.

The Team will provide Marketing and Buyer/Listing Services in alignment with the Team’s Marketing Plan, including professional Photography, lockboxes, Sign Installation and Removal, and Business Cards.

Team Member is responsible for all costs associated with Keller Williams startup fees, monthly technology fees, office printing, E&O fees, and fees associated with maintaining their Real Estate License, such as MLS fees and CTM Software.

Each Agent has a goal of 3+ transactions per month with a minimum goal of 2 per month. Should an average (3 consecutive months) of less than two transactions per month occur, both parties agree to discuss the next course of action and evaluate the relationship.

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Leads Generated by The Team You will receive 50% - 65% of the Gross Commission Income for Buyer Side and List Side transactions.

Leads Generated by the Agent You will receive 70% of the Gross Commission Income for Buyer Side and List Side transactions.

Caps. As a benefit of The Team, your Keller Williams Market Center Cap will be reduced from $18,000 to $9,000 per year, paid from the Team Member’s portion of the commission.

KW Royalty International is $3,000 annually, paid at 6% per transaction from the Team Member’s portion of the commission. $9,000 Keller Williams Integrity Realty $3,000 Keller Williams International (Royalty) ----------$12,000 total.

All concessions, referral fees, and bonuses are taken from the gross commission before the office and team splits.

All referral fees from one Team Member to another are to be agreed upon amongst the Team Members. Any incoming referral payments from outside agents, team members, or other sources to be paid to the agent will be paid at their commission percentage, as explained above.

$5M of Production from Team Provided Leads for 5% Commission Increase The below table illustrates the $5m for 5% system we use to help you earn more as your production increases.

Closed volume from Agent Sphere Leads is not counted toward the production increases.

This resets annually from the date of the signature of this document.

Agent Percent

SDH Percent

$0 - $5M

50

50

$5M - $10M

55

45

$10M - $15M

60

40

$15M+

65

35

Volume

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Team Provided Leads include any lead initially generated by The Search Denver Homes Team, any lead generated from an introduction or referral from a lead generated by The Search Denver Homes Team, any lead generated from open houses or other activities related to a lead originally generated by The Search Denver Homes Team, and any lead generated through the use of systems provided by The Search Denver Homes Team.

Agent Sphere Leads includes those leads generated by the Agent that are unconnected to any leads provided by The Search Denver Homes Team or through systems provided by The Search Denver Homes Team. To qualify as an Agent Sphere Lead, Agent must inform the Team Leader in writing of the lead and the personal source of the lead before entering into any contracts with the lead.

Exit & Removal from The Team Upon notification that this relationship is terminated, all Listing/Buyer Specialist contracts will remain with The Team.

Any active Real Estate transactions shall continue to be serviced by you at the discretion of The Team. You will continue to be paid at your same commission split for any transactions under contract at the time of termination with The Team.

Upon notification that this relationship is terminated, all signed Listing/Buyer agreements that are not under contract or active will be transitioned to another agent, and no commissions will be paid to you. A copy of all signed Agreements must be provided to The Team at the time of termination. The Team may elect to assign to you a list of ‘active’ buyers/sellers of The Team for you to work towards a pending transaction in which The Team will be paid the same amount for any transactions. This, though, is not guaranteed and is at The Team’s discretion.

All property of The Team, including signage and branded materials, shall be returned to The Team immediately and at your own expense. If you decide to leave KW before the close of any active files, you choose to forfeit all commissions and files associated with these transactions and will support the clients in the transition back to The Team.

Team Member agrees to ‘not compete’ with The Team upon termination or exit from The Team. Agent agrees not to engage or pursue leads or lead sources that were distributed/assigned/cultivated during their time at The Team without express written consent from The Team.

Without written authorization from The Team, communication with any clients, leads, or lead sources distributed/assigned/cultivated/provided by The Team or during the length of this contract is in breach of non-compete, which will result in being liable to pay The Team the commission(s) from closings derived from those leads regardless of when they close. Team Member understands that this agreement supersedes any other agreement or office policy manuals.

Clients of the Team Member that were obtained before this agreement, that will be processed and entered into The Team CRM will remain clients of the Team Member, if and only if a list is provided in writing to The Team Management within five days from the start of this Independent Contractor Agreement, in which the document is signed and dated by both The Team Management and Team Member.

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Culture It’s important to understand the heartbeat of this agreement. The intention is to build a company that truly provides a white-glove, 5-star customer experience and allows agents to create more sales opportunities and live a better quality of life through high-level systems, models, and accountability. We want to build a culture that works hard together, learns through each other, and continues to push one another forward through transparent, real, and honest accountability.

Acceptance of Terms for The Team By signing this agreement, the Team Member agrees that The Team leads, prospects, clients and customer lists, business processes and practices, manuals, referral sources, and other business items furnished by The Team are the property of The Team and will not be disclosed or used in another business.

This agreement is entered into with full knowledge and acceptance of all terms and the understanding that this agreement will automatically renew annually and may be terminated with or without cause and without prior notice.

By my signature, I agree with this contract in spirit and practice. My signature is a “good faith” confirmation of my support and willingness to forward the good of the clients, customers, and The Team above my own.

I agree to accept this agreement in its entirety is _____________________________________________

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Team Member Signature

Date

Signing on behalf of the Team and agreeing to accept all of this agreement in its entirety is: _____________________________________________

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The Team Signature

Date

Jonathan Loewenberg

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