This electronic Membership and Referral Agreement, made and entered into on Friday, July 20, 2018 - 10:00, by and between BanksNational.com , (hereinafter referred to as “Association”), and a licensed Real Estate broker or real estate agent (hereinafter referred to as "Member").
WHEREAS: Association is a real estate syndicate offering members lead generation, appointment scheduling, referral services, relocation programs, contact center staffing, and custom real estate advertising solutions;
WHEREAS: Member wishes to join Association for lead generation, appointment scheduling, real estate referrals, property syndication, and virtual staffing;
WHEREAS: This agreement sets forth the terms, pricing, and other conditions between the parties;
NOW THEREFORE, in consideration of the mutual covenants and agreements set forth herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows:
- Advertising and Lead Generation. Association will develop a custom advertising campaign and generate exclusive leads in Member’s target market by utilizing cold calls, direct mail, canvassing, data mining, landing pages, local real estate guides, predictive analytics, social media, referral programs, and/or relocation services.
- Exclusive Real Estate Leads with Scheduled Appointments. Association will generate exclusive real estate leads and schedule appointments in Member’s target zip codes. Seller leads will have a scheduled appointment for member at the prospect’s property. Buyer leads will be scheduled at the Member's office or designated location and preapproved by a lender. Member may choose to take or reject any appointment and agrees to keep Association updated by text message on the status of all appointments.
- Prospecting Database for Cold Calls, Emails, or Direct Mail. Association will purchase a residential or commercial prospect database of one hundred thousand records in the zip codes chosen by Member. The database will be updated monthly and member may add or remove zip codes at any time.
- Definition of Valid Appointment. Association and Member agree that the definition of a valid Appointment is when a prospect has indicated an interest in either buying or selling property and has agreed to meet in person or by telephone with Member. Member is not obligated to take any telephone or in-person appointment. A valid appointment will have the prospects name, address, telephone number, appointment date, appointment time, type of lead, and any additional comments.
- Annual Membership Pricing. Member will pay a discounted annual membership fee of three thousand nine hundred dollars ($3,900) by electronic check, demand draft, or ACH bank transfer at the signing of this Agreement. The renewal date of the membership is one year from the date this agreement is executed. The pricing offered in this paragraph expires seventy-two hours from the date and time set forth in this Agreement if payment is not received from Member.
- Referral fees and assignment. If member agrees to accept a lead or appointment generated by Association, either in-person, online, or by telephone, Member agrees to pay any designated licensed real estate broker assigned by Association a twenty percent (20%) referral fee for all real estate transactions closed by Member from any real estate lead or appointment generated by Association. The referral fee shall be equal to twenty percent (20%) of the gross commission paid to Member or the Member’s broker from a transaction which was closed as a result of a lead or appointment generated by Association. All referrals, leads, and appointments are owned by Association for a period of five years after being accepted by Member from Association. Association may assign all rights under this agreement to any subsidiary or third party for the purposes of providing services, generating leads, processing payments, collecting referral fees, or managing leads.
- Service Guarantee. Association guarantees Member a minimum of sixty (60) valid appointments per year, or that Member will close a minimum of ten thousand dollars commissions in the given membership year from any leads, referrals, or appointments generated by Association. If Association has failed to schedule the minimum number of appointments promised under this annual membership plan, or if Member has not closed at least ten thousand dollars commissions in a given membership year from leads or appointments generated by Association, Member may receive the next year of lead generation, appointment scheduling, and another one hundred thousand property records at no additional cost. Member must make any free extension request by email at least twenty-four hours before the renewal date of this Agreement.
- Arbitration and Dispute Resolution. Member and Association agree that they will settle any and all disputes through arbitration. Any decision made by an arbiter shall be legally binding. Arbitration proceedings of this agreement shall be in accordance with the existing rules of American Arbitration Association for resolution of commercial disputes. If either party engages arbitration, venue for arbitration shall be in McLean, Virginia, or via telephone conference.
- Jurisdiction. This Agreement shall be governed, interpreted and construed by, through and under the laws of the state of Virginia.
- Confidentiality. Association and Member recognize and acknowledge that the information that will be furnished to her/him concerning party’s customers, listings, holdings, investments, transactions, or other confidential matters constitutes a valuable, special, and unique asset and trade secret of their respective businesses. Confidential information will only be used to conduct business or transactions as set forth in this Agreement.
- Entire Agreement. This Agreement constitutes the entire contract and agreement between parties, and there are no verbal understandings or other agreements of any nature with respect to the subject matter hereof except those contained in this Agreement.
- Invalidity or Unenforceability. The invalidity or unenforceability of any portion of this Agreement shall not affect the remaining provisions and portions hereof. The headings at the beginning of each paragraph and section in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning of this Agreement.
IN WITNESS WHEREOF, the parties have subscribed their names.
Association Electronic Signature:
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Member Electronic Signature and Territory Information: