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Real Estate Salesperson Independent Contractor Agreement
THIS AGREEMENT made and entered into this [Date], by and between [Name], of [Address], hereinafter referred to as "Broker", and [Name], of [Address], hereinafter referred to as "Salesperson". The Parties recite that:
(a) Broker is duly registered and licensed with the State of [State] as a real estate broker whose license expires [Date].
(b) Salesperson is duly registered and licensed with the State of [State] as a real estate Salesperson whose license expires [Date].
In consideration of the mutual covenants set forth below, the parties agree as follows:
1. Statement of Employment. Effective as of the date of this Agreement, Broker employs Salesperson as a real estate Salesperson.
2. Duties of Sales Person
Salesperson will carry on the customary activities of a real estate Salesperson, including, but not necessarily limited to, the showing of parcels of real estate on which Broker has listings, the sale of such property in accordance with the terms of the listings, the solicitation of new listings, and such other services pertaining to the real estate business as Broker may require of him. Salesperson shall devote his entire time and attention to such duties and shall use his best efforts with regard to all of such duties.
3. Commissions on Sales. Broker shall pay to Salesperson a commission equal to [--%] percent of the total commission received by Broker, on sales made by Salesperson and completed during the effective period of this Agreement. Furthermore, during the effective period of this Agreement, Broker will advance to Salesperson against commissions to be earned the sum of [$------] per month, provided that Salesperson may elect to draw commissions as earned.
4. Duration of Agreement; Termination. The term of this Agreement shall be for [--] months/years, commencing on the date of this Agreement. Either party may terminate this Agreement by sixty [--] days written notice to the other party. If, on termination of this Agreement, Broker has advanced to Salesperson against commissions to be earned a sum of commissions actually earned by Salesperson, Salesperson will promptly refund the amount of the excess advances.
5. Access to Listings & Other Information. Broker will give Salesperson access to its confidential files pertaining to listings of property, prospects for the sale of such property, and other related matters. Broker shall also furnish Salesperson personal contacts with persons interested in selling or buying such property, and shall generally aid Salesperson in every way possible with respect to such sales and Salesperson's duties hereunder.
6. Loyalty to Broker's Interest. Salesperson will not during the term of this Agreement be engaged in any other business activity, whether or not pursued for gain, profit, or other pecuniary advantage, provided, however, that Salesperson may invest his assets in such form or manner as will not require his expenditure of any undue amount of time.
7. Nondisclosure of Trade Secrets. Salesperson recognizes and acknowledges that the information that will be furnished to him concerning Broker's customers, listings, holdings, investments, transactions, and other confidential matters constitutes a valuable, special, and unique asset and trade secret of Broker's business. Accordingly, Salesperson will not, during or after the term of his employment hereunder, disclose any such information or any part thereof to any person, firm, corporation, association, or other entity for any reason or purpose whatsoever.
8. Written Contract as Constituting Entire Agreement. 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.
9. Binding Effect. This Agreement shall be binding upon and inure to the benefit of the respective heirs, successors and assigns of the parties hereto.
10. Governing Law. This Agreement shall be governed, interpreted and construed by, through and under the laws of the state of [State].
11. Attorney Fees. In the event of any legal or equitable action, including any appeals, which may arise hereunder between or among the parties hereto, the prevailing party shall be entitled to recover a reasonable attorneys' fee. Attorneys' fees shall also include hourly charges for paralegals, law clerks and other staff members operating under the supervision of an attorney.
12. Severance. The invalidity or unenforceability of any portion of this Agreement shall not affect the remaining provisions and portions hereof.
13. Headings. The paragraph headings contained herein are for convenience of reference only and are not to be used in the construction or interpretation hereof.
14. Arbitration. Any disputes pertaining to said contractual arrangement being affairs that cannot be settled amicably shall be submitted to an arbitrator under the Rules of the American Arbitration Association or like organization in the City of [city], whose award may be reduced to judgment in any court of competent jurisdiction.
15. Severability. If any provision of this Agreement shall be held to be invalid or unenforceable for any reason, the remaining provisions shall continue to be valid and enforceable. If a court finds that any provision of this Agreement is invalid or unenforceable, but that by limiting such provision it would become valid or enforceable, then such provision shall be deemed to be written, construed, and enforced as so limited.
16. Waiver Of Agreementual Right. The failure of either party to enforce any provision of this Agreement shall not be construed as a waiver or limitation of that party's right to subsequently enforce and compel strict compliance with every provision of this Agreement.
17. No Representations. Neither party has made any representations nor promises, other than those contained in this agreement or in some further writing signed by the party making the representation or promise.
18. Interpretation. This Agreement will in all events be construed as a whole, according to its fair meaning, and not strictly for or against a party merely because that party (or the party's legal counsel) drafted the Agreement. The headings, captions, and titles in this legal Agreement are merely for reference and do not define, limit, extend, or describe the scope of this Agreement or any provision herein. Unless the context requires otherwise,
(a) the gender (or lack of gender) of all words used in this Agreement includes the masculine, feminine, and neuter, and
(b) the word including means including without limitation.
19. Entire Agreement. This Agreement including any attachments is the entire agreement between the parties and there are no other promises or conditions in any other agreement whether oral or written.
20. This Agreement supersedes any prior written or oral agreements between the parties.
21. No Assignment. Neither this agreement nor any right or interest thereunder shall be assigned in any respect whatsoever.
22. Exclusion of Oral Statements. This instrument contains all of the agreements of the parties. No oral or other statements shall be binding on either of the parties hereto.
23. Applicable Law. This Agreement shall be governed by the laws of the State of [State].
24. Time of The Essence. Time is the essence of this agreement.
IN WITNESS WHEREOF, the parties have caused these presents to be duly executed on the date first above written.
This Section for Notary:
STATE OF -------)
) ss: [date]
COUNTY OF ------)
On [Date] before me, [Name of Notary], notary, personally appeared [Name of Person(s) Involved], personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
Witness my hand and official seal.
[Name of Notary Public]
My commission expires: [date]