A plain summary of the Independent Contractor Agreement. The full document opens when you continue, and it is what governs.
Flat Fee: what you pay
- $650 per completed transaction.
- After you have paid $18,000 in transaction fees in a calendar year, the fee drops
to $95 per transaction through December 31. It resets on January 1.
- On a sale above $1,000,000, the fee is 10% of your gross commission
on that transaction instead of the $650.
Diamond: what you pay
- The brokerage earns 20 percent of your gross commission on each completed
transaction. You keep 80 percent.
- No per transaction flat fee.
Applies to both plans
- Independent contractorYou are an independent contractor, not an employee. You handle your own income, self employment, and occupational taxes. No withholding, no workers compensation.
- Getting paidWithin 48 hours after funds are collected and cleared and the Avenue Homes compliance checklist is complete.
- Annual company fee$250 per year, which includes coverage under the brokerage Errors and Omissions policy.
- Client fundsAny client funds or deposits go to the broker by the end of the next business day after you receive them.
- Auto insuranceBodily injury of $100,000 per person and $300,000 per accident, property damage of $100,000 per accident, with Avenue Homes named as an additional interested party.
- Your expensesYou provide your own tools, equipment, and transportation. Nothing is reimbursed unless agreed in writing beforehand.
- IndemnificationYou agree to hold the brokerage harmless for claims arising from your driving, your real estate services, your acts or omissions, or a breach of the agreement. This survives termination.
- Licensing and duesLicense renewals, continuing education, board dues, and any fines are yours.
- Brokerage propertyListings, data, keys, and manuals belong to the brokerage and are returned when you leave. Confidential information stays confidential during and after.
- Term and noticeOne year from the effective date. Either side can end it with 10 days written notice. The brokerage can end it immediately for wrongful conduct. It ends automatically if your license lapses.
- Deals pending if you leaveIf a file closes within 60 days and your duties were substantially done, you get your full commission. If the brokerage has to put significant resources into closing it, your commission on that file can be reduced by up to 25 percent. If it does not close within 60 days, the file belongs to the brokerage.
- Agent referralsYou earn a share of the commission split Avenue Homes earns from agents you refer, every time they close. The percentage is stated in Section 4.
- DisputesFlorida law governs. Disputes go to mediation first, then to binding arbitration through the American Arbitration Association, with fees split. The prevailing party can recover attorney fees and costs.