Affiliated Broker/Agent Agreement
Online Agent Referrals, LLC (OAR) provides an internet-based network for the exchange of referral information between Affiliated Broker/Agents for mutual benefit with no up-front fees and no obligation to use the network (“The Affiliation Program”). The following firm with which you are associated has accepted the terms of use of the Affiliation Program and has provided written approval for Brokers/Agents associated with the firm to use the network at their individual discretion:
By execution of this agreement, you are expressing your desire and agreement to participate in the OAR network and abide by the terms of the Affiliated Firm Agreement which exists between the above Firm and OAR. Accordingly, you agree to pay a referral fee of 75 basis points (.75%) of the sales contract amount for closings generated from Prospects directly referred to you by OAR, said fee to be paid to OAR at closing of any sale to Prospects. You also agree to accept a referral fee of .50 basis points (.50%) of the closed sales amount for qualified Prospects which you refer to the network, said commission being due to your firm from OAR within 30 days of closing. Referral fee splits within Affiliated Firms is a matter of internal policy and has no bearing on the calculation of the fee paid to or received from OAR. The difference in commissions payable and commissions accepted is the amount retained by OAR for development and maintenance of the network. This agreement may be unilaterally cancelled at any time by written notice by either party; however, commissions from prior referrals will remain payable as appropriate and in accordance with the Agreement. Although there are no upfront costs and no obligation to use the referral network, benefits only accrue with active participation. After execution and acceptance of this Affiliated Broker/Agent Agreement, please visit www.OnlineAgentReferrals.com/ProspectReferral to submit information on specific referral prospects. We appreciate your involvement and ask that you acknowledge your understanding and acceptance of this arrangement by providing the requested information and signing below. We look forward to a mutually beneficial relationship and the successful completion of many sales transactions.