GREC Schedule of Violations & Penalties

Appendix 8: GREC Schedule of Violations & Penalties

(from GREC Rule 520-01-.14 Citations)

(3) Schedule of Violations and Penalties. Violation of the following rules, regulations, and unfair trade practices may become the basis for the issuance of a citation. While the Commission may determine that circumstances warrant the imposition of a lesser penalty, the monetary penalties prescribed constitute the maximum penalty for a single violation of the cited rule, regulation, or unfair trade practice. In the event of any conflict between the description of a violation in the schedule below and the language in the code section or rule, the language in the code section or rule shall control.

Violation	Fine
(a) Failure of a community association manager, salesperson, or associate broker to turn over trust funds to the broker as soon as practicably possible. 43-40-25(b)(23) & 520-1-.08.	Fine of $500.00.
(b) Failure of a licensee to include financing terms in a sales contract having a financing contingency. 43-40-25.1.	Fine of $500.00.
(c) Failure of a licensee to provide a copy of any document used in a real estate transaction to any individual signing such document. 43-40-25(b)(19), 520-1-.06(1) & (2), & 520-1-.10(2).	Fine of $500.00.
(d) Where a Commission examination of a brokerage firm’s operations reveals a violation of requirements set forth in 43-40-11, 43-40-18, 43-40-25.1, 520-1-.06, 520-1-.07, & 520-1-.08(5)(c).	Fine of $500.00.
(e) Where an examination of an approved school reveals a violation of requirements set forth in Chapter 520 of the Rules of the Commission.	Fine of $100.00.
(f) Failure of a licensee to present promptly a signed offer to a seller or failure to deliver copies of an accepted contract to the parties within a reasonable time. 43-40-25(b)(19) & 520-1-.07.	Fine of $600.00.
(g) Conducting business under a name other than that which is registered with the GREC. 520-1-.07.	Fine of $600.00.
(h) Where a Commission examination of a brokerage firm’s operations reveals a trust account violation. 43-40-20 & 520-1-.08.	Fine of $600.00.
(i) Failure of a community association manager, a salesperson, or an associate broker to notify the broker of personal real estate activities. 520-1-.11.	Fine of $600.00.
(j) Failure of a licensee to include the correct amount of earnest money, security deposit, or terms in a sales or lease contract. 43-40-25.1.	Fine of $600.00.
(k) Where an approved school violates the requirements set forth in the Rules of the Commission developing or offering computer-based courses.	Fine of $200.00.
(l) Where a licensee pays a commission or a referral fee for performing a real estate brokerage activity to a person who does not hold a current, active real estate license in this or some other state except as provided in 43-40-25(b)(17).	Fine of $600.00.
(m) Advertising that violates a provision of 43-40-25(b)(11) or 520-1-.09(3), (5), or (6); but is not discriminatory or intentionally misleading or inaccurate in violation of 43-40- 25(b)(1) or (2) or 520-1-.09(2) or (4).	Fine of $600.00.

Violation	Fine
(n) Failure of a licensee to register with the GREC an account into which trust funds have been deposited. 43-40-20(b) & 520-1-.08(1).	Fine of $600.00 per account not registered.
(o) Failure of a licensee to have the bank designate an account as a trust or escrow account, except where the bank has erred. 43-40-20(b).	Fine of $600.00 per account not designated.
(p) Failure of a licensee to disclose his or her licensure in a contract requiring such disclosure. 520-1-.11.	Fine of $600.00 per contract.
(q) Where a broker continues to allow an affiliated licensee to conduct brokerage transactions after the licensee’s license has been in a lapsed status for more than one month. 43-40-18 & 520-1-.05(4).	Fine of $600.00 per brokerage transaction.
(r) Where a licensee performs real estate brokerage activity in violation of 520-1-.05(4) beyond the month in which a license lapses for non-payment of renewal fees.	Fine of $600.00 per brokerage transaction.
(s) Where an approved school offers a course without prior authorization, if such prior authorization is required.	Fine of $200.00 per student enrolled, not to exceed the limits set forth in 520-1-.14 (1).
(t) Failure of a licensee to deposit trust funds promptly where the deposit was made more than three business days after receipt unless the contract provides otherwise. 43-40-25(b)(3).	Fine of $600.00.
(u) Failure of a licensee to notify the Commission of the final disposition of any administrative, civil, or criminal action within ten days of the conclusion of court or administrative proceedings. 520-1-.05(5).	Fine of $600.00.
(v) Failure of a licensee to obtain written permission before depositing trust funds into an interest-bearing account where the licensee retained the interest. 43-40-25(b)(30) & 520-1-.08(1).	Fine of $600.00.
(w) Failure of a broker to sign a release form immediately upon personally receiving the request of a community association manager, salesperson, or associate broker to be released from the broker’s firm. 520-1-.07(5).	Fine of $600.00.
(x) Failure of a transferring salesperson or associate broker to account for or to return to the releasing broker all items belonging to that broker. 520-1-.07(5).	Fine of $600.00.
(y) Failure of a licensee to deposit into a trust account trust funds received in connection with a transaction in which a licensee is a principal. 43-40-20(f), 520-1-.08(1) & (4).	Fine of $600.00.
(z) Failure of a licensee to include a fixed date of expiration in a listing agreement or failure to leave a copy with the principal. 43-40-25(b)(18).	Fine of $600.00.
(aa) Where an approved school allows a person who has not been approved by the Commission as a pre-license instructor to instruct a Community Association Managers Course, a Salespersons Prelicense Course, or a Brokers Prelicense Course.	Fine of $300.00 per course, not to exceed the limits set forth in 520-1-.14 (1).
(bb) Failure of a licensee to deposit earnest money, security deposits or other trust funds according to the terms of a contract. 43-40-25(b)(5) & 520-1-.08(1).	Fine of $800.00 per contract.
(cc) Where a broker upon disbursing trust funds without obtaining the express agreement to all the parties to the contract, fails to notify all parties in writing of the disbursal. 520-1-.08(3).	Fine of $800.00.

Violation	Fine
(dd) Where a licensee has made a false statement of material fact on his or her application or caused to be submitted or been a party to preparing or submitting any falsified application to the commission on paper, electronically, or by any other means or media. 43-40-15(d) & 520-2-.16(1), & 520-3-.07.	Fine of $800.00.
(ee) Failure to handle trust funds as required by 43-40-20; 43-40-25(b)(3), (4), & (5); & 520-1-.08 in a transaction in which a client or a customer claims a loss and full restitution has been made.	Fine of $900.00.
(ff) Where the annual percentage of students passing the real estate examination from any prelicense school falls ten percentage points or more below the percentage of all examinees passing the real estate examination in any two consecutive calendar years. 520-2-.16(2).	Fine of $900.00.
(gg) Where an approved school fails to have students complete the required number of hours in any course or to complete all exercises and/or examinations required by the school. 520-2-.10(3), (4), (5), & (6).	Fine of $400.00 or $100.00 per student, whichever is greater, but not to exceed the limits set forth in 520-1-.14 (1).
(hh) Failure to reconcile a trust or escrow account at least monthly; to provide the required information in the reconciliation statement; or, in the event of a discrepancy in the account, to provide an explanation or description of the discrepancy and the corrective action taken. 520-1-.08(6).	Fine of $600.00 per violation if the account balances; fine of $900.00 per violation if the account is not in balance. And such other violations and fines as the ommission and the respondent parties agree upon.

GREC Changes to (Internet) Advertising Effective May 1, 2014

Advertising – This Rule change primarily addresses the use of the Internet to advertise real estate. In response to a pattern of repeated violations related to advertising, particularly involving the internet, it became clear that the Rule needed to be updated to take into consideration the many methods now utilized for advertising real estate including internet, wireless, texting, messaging, digital, and various other types of technology. The revised Rule applies to all forms of media as detailed in the definition. To understand the advertising Rule, it is critical to understand the definition of media and the definition of

advertising. It is also important to understand that the advertising Rule is limited to the advertisement of specific real estate, not services

 Media. For the purposes of this Rule, the term “media” includes, but is not limited to, print, photographs, broadcast, and the Internet including, but not limited to, such examples as newspapers, magazines, flyers, posters, business cards, billboards, radio, videos, television, signs (including office, directional, "for sale," "for lease," “sold,” or vehicle signs), newsletters, voicemail, email, facsimile transmissions, Internet websites, blogs, video blogs, property listing database services, email

farming, news groups, discussion lists, bulletin boards, social networking/social media, instant text messages, multimedia advertising, banner ads, pop-ups, and similar media.

 Advertising” or “advertisement” means any manner, method, or activity by which a licensee through the use of any media makes known to the general public real estate for sale, rent, lease, or exchange.”

Advertising on the Internet.

 Any advertising on the Internet by a licensee of real estate for sale, rent, lease, or exchange shall disclose the name and telephone number of the licensee's firm on every viewable web page of a website….with some exceptions

• Some forms of internet advertising have very limited space or a limited number of characters that can be displayed. When it is not possible to include the firm  name and telephone number on every page, the Rule offers a method to be in compliance by including a direct link (needing only one-click) to a web page that can comply with this Rule and provide the needed information.

• Examples of situations that require a direct link to a display that contains this information include:

o Electronic messages of limited information or characters (such as texts, tweets,

                   instant messaging, etc.)

o Advertising on an internet website not owned or controlled by the licensee or firm and that                 

    website's terms of use limit the licensee's ability to comply with this paragraph, such as not

     allowing the inclusion of the listing firm name, firm phone number and in the correct font

     size, etc.

 The long standing rule that the licensee’s name and phone number cannot be any larger or more prevalent than the firm name and main phone number still holds true.

• The name of the firm advertising the real estate for sale, rent, or exchange and the firm’s telephone number must appear in equal or greater size, prominence, and frequency than the name or names of any affiliated licensees or groups of licensees; and the phone number must be a number at which the public can reach a broker or a manager of the firm.

Maintenance and Updating of Data

 Advertising real estate on a website or internet posting etc. that is outdated shall be updated or removed from the website within thirty (30) days of the information becoming outdated.

• The requirements of this Rule apply to advertising and information on a

website that is within the licensee's ownership or direct control.

• Many brokers hire independent firms or consultants to maintain the firm or individual’s web site and use various listing services to advertise real estate. If a licensee's website is maintained by an authorized third party (other than its firm or its franchisor’s webmaster), the licensee shall provide to the third party, a timely written notice, by mail, fax, or electronic means, of any updates to outdated information or information to be removed from the website, so that such updates or information removal may

be accomplished in accordance with this Rule.

• Prior to this Rule change, a broker or firm had 10 days to remove outdated internet advertising. This revision increases the time period to remove or correct information to 30 days as opposed to the 10 days previously stated in the rules.

• A licensee who provides such timely notice to the authorized third party shall not be in  violation of this Rule if the third party fails to effect an information change as notified.

• A broker should establish policies and procedures to maintain records of the notice provided to the authorized third party.

 No licensee shall be responsible for any information taken from the licensee's website, or other advertising, if placed on a website, or in other advertising outside the licensee's ownership and/or direct control and without the licensee's consent.

Most of the advertising rules have not changed, such as the requirements regarding:

1. Written permission from the owner to advertise real estate – in any media.

2. Broker supervision of all advertising by affiliates (associate brokers, salespersons, and community association managers), (including advertising the licensee’s own property).

3. Prohibition of discriminatory advertising.

4. Prohibition of misleading advertising.

5. Restrictions and requirements regarding licensees disclosure when advertising as principals (and including GA R.E. License #)

6. The use of Trade Names and franchise names.

7. Advertising approved schools or courses.

Every broker and every other licensee can benefit by a review of the entire advertising Rules and Regulations accessible from the Commission website.

In addition to the updated advertising Rule, a licensees must comply with the Unfair Trade

Practices found in O.C.G.A. §43-40-25 (b) (1), (2), (11), (12) and (21) which address misleading advertising regarding services, not just specific real estate. Representation, disclosure, and other practices are addressed as well.

The Commission approved the advertising Rule change to further protect the public interest and insure that any advertisement of real estate is in compliance with the License Laws, Rules, and Regulations. The update Rule also states that a licensee shall make every reasonable attempt in advertising to assure the public knows that they are being contacted by a licensee

Key Points: In Effect May 1, 2014

• The definition of Media is very broad, including, internet, texting, etc., etc., etc.

• The broker is responsible for all advertising of real estate in any media done by the firm or its

affiliates. It must include the firm name and phone number unless space is limited, and then it

must have a direct link to a webpage(s) each citing the firm name and phone number.

• Advertising of real estate in any media must be updated or removed within 30 days of

becoming outdated.

Transferring Between MX1 Companies

If you wish to transfer between any of our companies (i.e. MX1 Executives to MX1 Greater Atlanta or vice versa or from MXGR to MXGA or vice versa) you must do the following:

·         Complete a new Independent Contract Agreement for the New Company (Let the Agent Services Coordinator or your Branch Manager know so we may send you this form)

·         Upon receipt of your signed paperwork, we will transfer you in GREC, FMLS & GAMLS

·         If you have any active listings, those too must be transferred / re-entered in FMLS & GAMLS under your new Broker Code

o   Complete FMLS Form #116

o   Complete GAMLS Form: Transfer / Withdraw Listings

Submission of Contracts to Brokerage - 72 Hours

Submission of Contracts to the Brokerage – 72 Hours

You are required to upload into Paperless Pipeline any new listings, pending contracts, terminated contracts, leases, etc. and all earnest money within 72 hours of accepted agreement.  A late fee of $75 will be added to your bill or taken out of your commission check if you fail to submit my paperwork within 72 hrs  of acceptance and that the Broker may be required to report this activity to other parties of the contract or to the Georgia Real Estate Commission.

RE Forms: Purchase & Sale Contracts

As of August 2014, if you have a contract Binding on an RE Form, Purchase & Sale Agreement, you are required to attach the “Standard Terms” as an Exhibit to this contract.  Form RE-001

Purchasing / Selling a Primary Residence for Yourself or Immediate Family Member

Purchasing a Primary Residence for Yourself or Immediate Family Member

If you choose to take $0.00 in commission on a transaction, the following shall apply:

·         Transaction fee to Maximum One shall be $50 ($40 if you are on Plan B) if this transaction is for an Owner-Occupied / Primary Residence property for yourself or your immediate family with a maximum of two transactions per year.

·         If the above does not apply, then the transaction fee to Maximum One shall be the transaction fee based on your plan, if you are on a commission split, then the Maximum One fee shall be your split (based on your plan) based on 3% of the sales price of the property.

·         If this is a primary residence for you, there is an “Agent Owner” letter on FMLS you may complete for $0 FMLS fee

Providing Documents to the Public Upon Request

Do not give out any specific information or documents regarding any of our transactions to anyone…. Even if they identify themselves as an attorney!!!  Our client files and information is confidential and is NOT to be given out to any member of the public – attorney or not – by any member of the staff or any agents.  The files belong to the BROKERAGE and the specific clients and not the agents!

Lapsed License

If your real estate license lapses for any reason (failure to complete all required CE credits or failure to renew) you are to CEASE & DESIST ALL REAL ESTATE ACTIVITY INCLUDING SENDING & RECEIVING REFERRALS until you have renewed with GREC.  This means no contact with clients, no showing property, not writing or negotiating contracts, etc.  You will continue to be billed by Maximum One in anticipation of your prompt re-instatement.  If you do not renew within 30 days after your lapse, we will have to release your license from Maximum One.  If there are extenuating circumstance, please contact Dana Sparks if you are with MXGA or MXGR Dana@MaximumOneRealty.com or Tina Vliet if you are with MXEX or MXER  Tina@MaximumOneRealtors.com .

You are responsible for checking your own renewal dates and CE credits with GREC.

If your license lapses and you choose not to renew, any outstanding fees owed to Maximum One must be paid in full.

HUD Properties

Register at www.HUDHomestore.com

If you are submitting a bid on a HUD property, first thing is to check your brokerage affiliation registration at: www.HUDHomestore.com . 

Broker Permission Letters

 You will also need a letter from the Broker authorizing you to sign the contracts.  These letters are on the Extranet. 

HUD NAID Numbers & Corporate Information for Submitting a HUD Bid

Make sure that you use the proper NAID # when making the offer.  Below are the NAID Numbers and corporate names of our companies. Below are the NAID numbers and company corporate names:

·         Maximum One Realty Greater Atlanta (MXGA)

o   Corporate Name:  Greater Atlanta, LLC

o   NAID #: GRTRTL0360

o   Qualifying Broker: Arline Kubat

·         Maximum One Greater Atlanta Realtors (MXGR)

o   Corporate Name:  Maximum One Real Estate Group, LLC

o   NAID #: GRTRTL1947

o   Qualifying Broker: Sue Hudson

·         Maximum One Realty Executives (MXEX)

o   Corporate Name:  MX Realty Executives, LLC

o   NAID #: MXRLTY4997

o   Qualifying Broker: Ed Cordrey

·         Maximum One Executives Realtors (MXER)

o   Corporate Name:  MX Executives Real Estate Group, LLC

o   NAID #: MXEXCT5752

o   Qualifying Broker: Tina Vliet

Maximum One Realty Greater Atlanta (MXGA) Agents & Their Immediate Families are Prohibited from Buying or Having any Interest in HUD Properties

Maximum One Realty Greater Atlanta MXGA is a HUD Listing Broker (NLB / LLB) and therefore any agent in MXGA or their immediate family is prohibited from purchasing a HUD property.

·         NLB’s their employees, their agents company affiliates and subcontractors are not allowed to purchase any HUD properties or acquire any interest in any HUD properties

Handling Real Estate Transactions

All Agents must read and understand the GREC Rule on Handling Real Estate Transactions

Handling Real Estate Transactions: GREC Rule 520-1-.10

It is also included as Appendix 7 of the MX1 Policies & Procedures Manual

GAMLS Listings Rules & Regulations

Listing Properties in GAMLS

Maximum One is a member of GAMLS and you are required to enter your listings in GAMLS along with FMLS

GAMLS Rules & Regulations & Compliance Rules

All agents are required to read through these.  They are included as a separate appendix of the Maximum One Policy Manual and may be accessed online:

·         GAMLS Rules & Regulations: http://www.gamls.com/secure/forms/membership/GAMLS_RULES_AND_REGULATIONS_2013.pdf

·        

GAMLS Compliance Rules: http://www.gamls.com/secure/membership/index.cfm?Typ=Compliance

FMLS Listings Rules & Regulations

Listing Properties in FMLS

Maximum One is a member of FMLS & all properties for sale if MX1 has an Exclusive Listing Agreement with that Seller and the property is in an FMLS compulsory area MUST be listed in FMLS despite going under contract immediately.  FMLS is due a fee on any New Construction properties from the drywall stage forward.

FMLS Compulsory Areas

The compulsory areas are the following counties: Barrow, Bartow, Cherokee, Chattooga, Cobb, Dawson, DeKalb, Douglas, Floyd, Forsyth, Fulton, Gordon, Gwinnett, Hall, Haralson, Jackson, Lumpkin, Paulding, Pickens, Polk and Walton.

FMLS Rules & Regulations & Policies and Procedures

All agents are required to read through these.  They are included as a separate appendix of the Maximum One Policy Manual and may be accessed online:

·         Rules & Regulations: https://fmls.com/cf/PrintTemplate.cfm?Original=/support/RulesRegs.cfm

·         Policies &Procedures: https://fmls.com/cf/PrintTemplate.cfm?Original=/support/PoliciesProcedures.cfm

Errors & Omissions Insurance

Having your Real Estate license without Errors and Omissions Insurance is like driving a car without auto insurance.  The cost of this is $187/year.  To ease the burden, we have established several different payment options for Agents; however, paying in full is most economical.  Your options are:

 Option 1: Pay in full on your first monthly bill (total paid will be $187)

Option 2:  Three monthly installments of $69 (total paid will be $207)

 Option 3:  Twelve monthly payments of $19 (total paid will be $228)

By signing below, I acknowledge that these fees will be added to my monthly bill according to which option I have chosen.  I authorize Maximum One to charge my credit card on file, if deemed appropriate, and in accordance with the terms of the “Credit Card Authorization Form”.  I understand that the option I am choosing shall become recurring every anniversary unless I make a change in writing. E&O Insurance is non-refundable and will not be pro-rated. This form supersedes any other documents pertaining to the payment of E&O Insurance.

Desk Rentals

Studies show that Independent Contractors are more productive when they actually get up in the morning and get ready and go to another location for work.  We want to help your productivity by offering monthly desk rentals at the Maximum One branches. Please contact your Branch Manager for current desk rates and ask about any seasonal specials.  After completing this form, turn this into your Branch Manager to send to Agent Billing  AgentBilling@eAGENTweb.com

 

Desk Rental Agreement

DESK RENTAL AGREEMENT-AGENTS

BRANCH LOCATION _____________________________________________________                           

OFFICE/DESK DESCRIPTION___________________________          DATE ____________

RENTAL AMOUNT  $_____________  AGENT NAME ___________________________

ALL PARTIES AGREE THAT THIS IS A MONTH TO MONTH LEASE, PAID IN ADVANCE AND WILL BE INCLUDED ON AGENT MONTHLY INVOICE.  EITHER PARTY MAY TERMINATE THE AGREEMENT IN WRITING WITH A FULL 30 DAY NOTICE.  TERMS AND DESK LOCATIONS SUBJECT TO CHANGE WITHOUT NOTICE.  AGENT IS RESPONSIBLE FOR OFFICE EQUIPMENT AND TELEPHONE SERVICES.  INTERNET AND ALL UTILITIES ARE INCLUDED IN DESK RENTAL.  UPON VACATING, AGENT WILL LEAVE DESK AREA AND OFFICE AS HE/SHE RECEIVED IT INCLUDING BUT NOT LIMITING TO TOUCH UP PAINT.  ONE BULLETIN BOARD MAY BE HUNG OVER DESK WITH ADHESIVE TYPE MOUNTING.  NO NAILS OR HOLES ALLOWED IN WALLS.  ANY OTHER WALL HANGINGS OF ANY NATURE MUST BE APPROVED BY BRANCH MANAGER OR OPERATING PARTNER.  FURNITURE MAY NOT BE TAKEN FROM ANY OTHER OFFICE OR COMMON AREA AND CANNOT BE SWITCHED OR TRADED WITH ANY OTHER OFFICE.  FOR SHARED OFFICES, AGENT MUST KEEP ALL PERSONAL BELONGINGS TO HIS/HER ½ OR 1/3 OF THE OFFICE AND KEEP OFFICE CLEAN AND FREE OF TRASH AND DEBRIS.  EATING IS NOT PERMISSIBLE IN AGENT OFFICES AND FOOD MUST BE CONSUMED IN COMMON AREAS TO PREVENT INSECT INFESTATION.  AGENTS MUST EMPTY GARBAGE CANS WEEKLY AND CARRY TO DUMPSTER.  JANITORIAL SERVICES ARE NOT PROVIDED.

________________________________________                                   ______________________

AGENT SIGNATURE                                                                                          Date Signed

Client Signatures on Contracts

Client Signatures on Contracts

Make sure to compare the client signatures on all the documents you receive from your clients.  If there are any discrepancies, get them resolved immediately.  Additionally, DO NOT SIGN CONTRACTS ON BEHALF OF YOUR CLIENTS – even with their permission.

Documentation of Your Correspondence

Make sure to document your correspondence with your clients and with your co-op agents.  Many times these emails and fax confirmations are the ONLY proof we have to resolve potentially volatile situations.  Upload all of your documents into your transaction file in Paperless Pipeline.  Also keep the certificates of authenticity when signing contracts for electronic signature.

Children in Offices

The Maximum One Offices are professional places of business where not only agents and staff are present, but many times, clients, guests, recruits and potential business partners frequent our offices.  Children are therefore not allowed in the offices for any extended period of time and they are to be accompanied by an adult at all times.  Children are also not to use the workroom computers.

Checks Payable to or Written From Maximum One

Stopping Payment on a Check

If Maximum One has to stop payment on a check, there is a $35 fee placed on the Agent’s monthly bill.  The agent may recover that fee from the client or co-op agent.

Client / Customer Checks that are Returned by the Bank

If Maximum One receives a check returned by the bank, there is a $35 fee placed on the Agent’s monthly bill.  The agent may recover that fee from the client.

Checks made Payable to Agent Directly

If a Client / Customer makes a check payable directly to the Agent rather than to Maximum One (i.e. Earnest Money, Security Deposit, Retainer Fee, Rent, etc.) you MUST RETURN that check to the client and have them write a new check payable to Maximum One.  You are prohibited by License Law from depositing THAT check into your account and then writing a check yourself to Maximum One.

Change of Commission Plan

If you change your commission plan, you must do so in writing on this form: “Commission Split Plans” (on next page)  and email it to AgentBilling@eAGENTweb.com .  If you change your plan, any transactions for the next 30 days will close at the fee structure from your previous plan; you next monthly agent bill will be base on your new plan.

Commission Plan Changes if Not in Good Standing with MX1

If you are not in good standing with Maximum One (i.e. have an outstanding balance on your agent bill) then Maximum One retains the right to switch your commission plan for a probation period of 6 months to one with a lower monthly fee than the one you currently have.

Commission Split Plans

Plan A                                                                          Plan D
$48 per month (includes GAMLS)                                 $28 per month (includes GAMLS)

$300 per transaction                                                   85/15 Commission Split (Agent retains 85%)             Residential and Commercial                                               Residential and Commercial

Plan B                                                                          Plan E                         

$250 per month (includes GAMLS)                               $38 per month (includes GAMLS)

$40 per transaction                                                     90/10 Commission Split (Agent retains 90%)

Residential and Commercial                                         Residential and Commercial

Plan C                                                                          Plan F /Holding Company (No MLS access)
No Longer Available                                                     No monthly fee

                                                                                    $60 per year (No FMLS nor GAMLS)

                                                                                    80/20 split (Agent retains 80%)                                                                                                                  Referrals Only – No Active Real Estate

All plans have a Non-Guaranteed Annual Cap of $6,000 so you do not over pay the Brokerage. What that means is that out of your portion you pay the Brokerage, you never pay more than $6,000 in a year. If you pay in less than $6,000 to the Brokerage, you DO NOT pay the difference. All successful Residential Sale Closings which are listed in FMLS or are supposed to be listed in FMLS are subject to an FMLS .12% fees which will be taken out of commission checks during disbursement.  All fees generated to Broker are subject to splits above with exception of BPO’s.  BPO’s are disbursed to agents once per month in their entirety.  With our fees amongst the lowest in the industry, there are no exemptions for agent-owned sales or purchases.  On smaller fees charged and collected by the agent (under $1,200) the split is 25/75 (agent retains 75%) with 25% going towards cap.  If you collect $0.00 in commission on a transaction, your minimum transaction fee to Maximum One is $50 (or $40 if you are on Plan B) if this is an owner-occupant property for yourself or immediate family.  If the property is not in this category, then the transaction fee is based on your plan (see policy manual.)

E&O Insurance is billed separately.  There is a separate E&O payment selection sheet for how that is handled.

MXGA01 is not a member of a Board of Realtors® therefore no board dues are payable.  MXGR01 is a member and dues are mandatory.

Definition of “TRANSACTION:”  Every time a check is written to Broker and has to be disbursed to a licensee.  This includes but is not limited to multiple payment commissions, retainer fees, lease purchases, flat fee listings, property management fees, referrals, and residential and commercial payment of commissions.  Retainer fees on the “Buy” side are only payable at expiration/cancellation of Buyer Brokerage Agreement or when a deal is terminated or expires unless otherwise expressly provided for in writing by the client.

I _____________________________________ hereby select Plan _______ as my Commission Split with Maximum One Realty Greater Atlanta/Maximum One Greater Atlanta Realtors®.  I am aware that if I change my plan, for a period of 30 days, any commissions/fees paid will be paid at my previous plan; my monthly fees will begin according to my new plan on the next agent bill.  Any changes in my Commission Split plan must be done in writing on this form.

____________________________                                                    ________________________

Associate Signature                                                                             Date