Annual
Contracts Class
Beginning 2014, all Maximum One agents
are required to take at least one Continuing Education (CE) class on contracts.
Buyer Rebate Disclosure
If you are
giving a rebate to your Buyer, this must be disclosed in writing AND be
included on the HUD-1 Settlement Statement. Please use the following
disclosure in your contract:
·
Pursuant
to the official Georgia annotated chapter 43-40-25 (B) (6), Maximum One Realty
hereby discloses to all parties that they may reduce a portion of their
commission from this transaction to the buyer.
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.
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.
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.
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:
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.
MX1 Affiliated Business Disclosure:
Maximum One's company policy is to have ALL MX1 Clients / Customers sign this disclosure. To comply with RESPA requirements, HUD only requires a Buyer to sign this disclosure if the Buyer uses the services of one of the affiliates, we require your Clients / Customers sign it and that you submit it with every purchase contract. The Buyer may use an inspector/home warranty/etc. from a vendor who is in our vendor program and pays for that privilege. If you cannot get the Other Party to sign (especially a bank) that is fine.
Maximum One's company policy is to have ALL MX1 Clients / Customers sign this disclosure. To comply with RESPA requirements, HUD only requires a Buyer to sign this disclosure if the Buyer uses the services of one of the affiliates, we require your Clients / Customers sign it and that you submit it with every purchase contract. The Buyer may use an inspector/home warranty/etc. from a vendor who is in our vendor program and pays for that privilege. If you cannot get the Other Party to sign (especially a bank) that is fine.
This form is available on Paperless Pipeline, WolfConnect & FMLS under "Office Docs."
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!
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
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.
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
