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Real Estate Salesman Independent Contractor Agreement

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Real Estate Salesman Independent Contractor Agreement Powered By Docstoc
					                                      Real Estate Salesman IC




This document sets forth an agreement between a real estate broker and real estate
salesperson whereby the broker hires the salesperson as an independent contractor.
The agreement describes the salesperson’s duties, the commission to be paid, the
duration of the agreement, and a clause preventing the salesperson from disclosing the
broker’s trade secrets and confidential information. This template agreement should be
used by brokers or salespeople and can be customized to ensure that the
understandings of the parties are properly set forth.
       Real Estate Salesperson Independent Contractor Agreement
THIS AGREEMENT (hereinafter the “Agreement”) made and entered into this ____ day of
_______________, 201__, by and between _________________, of
_________________________, (hereinafter the “Broker”), and ____________________ of
___________________, (hereinafter the “Independent Contractor”), hereinafter collectively
referred to as (the “Parties”). The Parties recite that:

A. Broker is duly registered and licensed with the State of ________________ as a real estate
broker whose license expires ______________________.

B. Independent Contractor is duly registered and licensed with the State of _______________ as
a real estate Independent Contractor whose license expires ___________________.

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 hires Independent Contractor under the laws
of the State of _____________, and pursuant to the Real Estate Act of the State of
_____________________.

2. DUTIES OF SALESMAN

Independent Contractor will carry on the customary activities of a real estate salesperson,
including, but not necessarily limited to, the showings of property, 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 or her. Independent
Contractor shall devote his/her entire time and attention to such duties and shall use his/her best
efforts with regard to all of such duties.

3. COMMISSIONS ON SALES/TAXES

Broker shall pay to Independent Contractor a commission equal to _____ percent of the total
commission received by Broker, on sales made by Independent Contractor and completed during
the effective period of this Agreement. Independent Contractor understands and agrees that the
taxes on all commissions paid shall be due and owing to both the State and Federal Government
by the Independent Contractor, and that is it the responsibility of the Independent Contractor to
pay all estimated taxes on the dates due. Broker agrees to provide Independent Contractor with
IRS form 1099 at the beginning of the following year showing all amounts paid by Broker to
Independent Contractor. No taxes shall be withheld by Broker on any commissions

4. DURATION OF AGREEMENT; TERMINATION

The term of this Agreement shall be for ___years, commencing on the date of this Agreement.
Either party may terminate this Agreement by sixty (60) days written notice to the other party. If,


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upon termination of this Agreement, Broker has advanced to Independent Contractor any monies
in the form of draw against commissions or loan, Independent Contractor will promptly refund
the amount of such advance upon termination.

5. ACCESS TO CONFIDENTIAL LISTINGS AND OTHER INFORMATION

Broker will give Independent Contractor 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 Independent Contractor personal contacts of persons interested in selling or buying such
property, if available.

6. LOYALTY TO BROKER'S INTEREST

Independent Contractor will not, during the term of this Agreement, be engaged in any other
business activity without written permission of Broker, whether or not pursued for gain, profit, or
other pecuniary advantage.

7. NONDISCLOSURE OF TRADE SECRETS

Independent Contractor recognizes and acknowledges that the information that will be furnished
to him/her 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, Independent Contractor will not, during or after the term of his/her
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. BINDING EFFECT

This Agreement shall be binding upon and inure to the benefit of the respective heirs, successors,
and assigns of the Parties hereto.

9. ATTORNEYS' 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 reasonable
attorneys' fee.

10. SEVERABILITY

The invalidity or unenforceability of any portion of this Agreement shall not affect the validity of
the remaining provisions and portions hereof.

11. HEADINGS

The pa
				
This document is also part of a package Proposals and Other Forms for Contractors 20 Documents Included