LOCATION INC - Broker Referral Agreement
This Agreement sets out the terms and conditions under which Location Inc Group Corporation ("Location Inc") will, upon acceptance of Broker's application, furnish your real estate brokerage (Broker) with referrals for the sale and/or purchase of real estate and other real estate services. For the purposes of this Agreement, Broker means the professionally licensed real estate firm specified on the next page of this application, and referrals means prospective buyers and/or sellers of real property who have registered to work with Location Inc's network (including NeighborhoodScout), and thence been referred to Broker.
By executing this Agreement, Broker warrants and agrees that:
Broker and its Agents possess adequate knowledge of the geographic area(s) Broker lists on the next page of this application to provide professional and competent real estate services in those areas to referrals received from Location Inc. Broker will not share or refer referrals it has received from Location Inc with any other Broker or mortgage provider without the prior written consent of Location Inc. Broker will not register with any Location Inc service as a prospective homebuyer or seller, even if its intention is to buy or sell real property. Broker will assign referred buyers to a licensed, reputable agent with a minimum of two years full-time experience as a real estate professional. Broker will assign referred sellers to a licensed, reputable agent with a minimum of five years full-time experience as a real estate professional.
In the event that a purchase, sale or transaction results from a referral provided by Location Inc, Broker agrees to pay Location Inc a referral fee of 37.5% of the gross commission (on the side(s) of the transaction(s) that Broker represents on behalf of the referred client). Gross commission is the amount collected before franchise fees, agent splits, MLS fees or other deductions. Referral fees shall be paid to Location Inc on all real estate business Broker conducts with referred clients for a period of two (2) years after initial referral.
Broker authorizes payment of a referral fee directly to Location Inc from the assigned agent, or by closing agents, attorneys, law firm, title companies and escrow companies deducting referral fees from the assigned broker side(s) of the commission earned for Location Inc. Referral fees are to be promptly sent to Location Inc, 86 Shrewsbury Street, Worcester, MA 01604-4625. Broker agrees to deliver instructions to effect a referral fee payment at closing or escrow to closing agents at least one week prior to closing. In the event referral fees are not paid at closing or escrow, Broker agrees the referral fee shall be paid on the next business day following collection of commission.
NeighborhoodScout neither knowingly participates in, nor condones, discriminatory housing practices such as steering or denying housing based upon race, color, religion, sex, disability, familial status, or national origin. Broker must comply with all applicable federal, state and local laws, including, without limitation, the Fair Housing Act, and Broker will hold harmless, indemnify, and defend Location Inc, its partners, shareholders, directors, officers, employees, successors and assignees from and against any action, claim, suit, cost, loss, or expense (including attorneys’ fees), which may result from the wrongful or negligent acts or omissions of Broker or its Agents.
Both parties retain the right to terminate this Agreement at any time, for any reason, by providing the other party with 30-days written notice of termination; provided, however, that such termination will not affect and/or prejudice any referral made prior to termination, or any referral fee(s) payable thereon.
This Agreement shall be governed in all respects by the laws of the Commonwealth of Massachusetts . It is hereby agreed that any and all claims, disputes or controversies whatsoever arising from or in connection with this Referral Agreement shall be commenced, filed and litigated, if at all, before a court of proper jurisdiction located in Worcester County, Massachusetts.
Location Inc provides referrals subject to this broker referral Agreement, which may be updated by Location Inc from time to time without notice. The most current version of this broker referral Agreement can be reviewed on the Site, at www.neighborhoodscout.com/broker-network/agreement/. ALTHOUGH LOCATION INC ENGAGES IN PRE-SCREENING, LOCATION INC PROVIDES REFERRALS ON AN “AS IS” BASIS, WITHOUT WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, AS TO THE QUALITY, RELIABILITY, HONESTY, LEGITIMACY, AND/OR FINANCIAL RESOURCES OF SUCH REFERRALS. THIS DISCLAIMER OF LIABILITY APPLIES TO ALL REFERRALS, INCLUDING WITH RESPECT TO ANY LOSSES, COSTS, DAMAGES OR INJURY CAUSED BY OR RELATED TO ANY SUCH REFERRALS, WHETHER FOR BREACH OF CONTRACT, TORTIOUS BEHAVIOR (INCLUDING STRICT LIABILITY), NEGLIGENCE, DEFAMATORY CONDUCT, OFFENSIVE CONDUCT, OR ILLEGAL CONDUCT, OR UNDER ANY OTHER CAUSE OF ACTION. RISK OF DAMAGE OR INJURY FROM THE FOREGOING RESTS ENTIRELY WITH BROKER. IN NO EVENT WILL LOCATION INC, OR ANY PERSON OR ENTITY INVOLVED IN PRE-SCREENING AND/OR MAKING REFERRALS FROM LOCATION INC TO BROKER (INCLUDING, WITHOUT LIMITATION, LOCATION INC’S OFFICERS, PRINCIPALS, DIRECTORS, SHAREHOLDERS, AFFILIATES, EMPLOYEES, CONTRACTORS, AND/OR LICENSORS) BE LIABLE IN CONTRACT, IN TORT (INCLUDING FOR ITS OWN NEGLIGENCE) OR UNDER ANY OTHER LEGAL THEORY (INCLUDING RESPONDEAT SUPERIOR) FOR ANY DAMAGES, INCLUDING, WITHOUT LIMITATION, DIRECT, INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, CONSEQUENTIAL, LOST PROFITS OR REVENUES, LOSS OF USE, OR SIMILAR ECONOMIC LOSS, ARISING OUT OF THE SAME.
By clicking on the "I agree" button below, the Broker signifies that it accepts and agrees to this Broker Referral Agreement.