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

Cap Date

Maximum One has a maximum cap on transaction fees paid to the Brokerage of $6,000.  This is a non-guaranteed cap meaning you do not have to guarantee those funds to the Broker.  The cap date is based on YOUR anniversary year with Maximum One and goes from the 1^st of the month to the last day of the previous month 11 months later.  Your cap date is determined by when you initially joined Maximum One.

• ·         If you join Maximum One from the 1^st through the 20^th of a month, your initial cap period will begin the 1^st of the following month.
• ·         If you join Maximum One from the 21^st of the month through the 31^st of the month, your cap period will initially begin the 1^st  of the month proceeding the following month.
• ·         For Example, if you join MX1 August 9^th your Cap Period is: September 1^st  - August 31^st   If you join MX1 August 29^th, your Cap Period is: October 1^st – September 30^th
• ·         After that, your Cap period is a 12 month cycle

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.

Annual Contracts Class

Beginning 2014, all Maximum One agents are required to take at least one Continuing Education (CE) class on contracts.

Agent Billing

Timing of Agent Bills

Agent Bills are issued on our about the 10^th of each month; they are due on the 20^th of each month; they are late after 5pm on the 1^st of each month.  Agent bills are sent out for the upcoming month – so a bill you receive in January is for the month of February

Payment of Agent Bills

You may pay your monthly bill by check or Credit Card.  There is a nominal processing fee for paying by card.  A Late Fee of $75 will be added to your monthly bill if the funds are not received prior to 5pm on the 1^st of the month.  Paying your monthly bill with a deduction from your commission is not an acceptable method to pay your monthly fee.

Outstanding Balance

If you have an outstanding balance on your Agent Bill and you have a closing, Maximum One will deduct your outstanding balance amount and any additional late fees from your commission check.

Monthly Bills Accrue Despite Your Transactions

You still owe Maximum One your monthly fee regardless of the amount of real estate you sell or lease.  This is a monthly obligation despite your business.

Exiting from MX1

If you choose to leave Maximum One between the 1^st – 19^th you will not be responsible for  the monthly bill you will have just received on the 10^th . If you leave between the 20^th – 31^st, you are responsible for the monthly bill you have just received on the 10^th .  If you leave Maximum One and have an outstanding balance, you are responsible for that payment regardless of your Brokerage affiliation.

Working with the Public: Client or Customer

At Maximum One, you may work with the Buying & Selling public as either a CLIENT or a CUSTOMER… your choice!  The Maximum One Requirement is that you turn in (upload to Paperless Pipeline)  the appropriate paperwork which corresponds with your relationship with the public.  BRETTA requires that if you are working with the public as a CLIENT, you are required to sign an Agency Agreement with that person.

So if you are working with the Buyer as a CLIENT then you must have a Buyer Brokerage Agreement signed; if you are working with the Buyer as a CUSTOMER, then you must have a Customer Acknowledgment signed.

This is true for any public with whom you work:

Seller Client – Listing Agreement

Seller Customer – Authorization to Show Unlisted Property

Landlord Client – Lease Listing Agreement

Landlord Customer – Authorization to Show Unlisted Property

Tenant Client – Tenant Brokerage Agreement

Tenant Customer – Customer Acknowledgement

Property Management at Maximum One

Maximum One – Agent as Property Manager 

• Maximum One no longer engages in Property Management.  Agents are prohibited from managing property for the any properties that are not owned 100% by the agent.