Terms and Conditions

Property Management Referral Agreement

This agreement is entered into between RESE Property Management LLC (RPM) and:

You, the agreeing party and your Brokerage

REFERRING REALTOR (RR)

  1. RESE Property Management LLC agrees to pay referring realtors up to 20% of the property management fees received, for a period of 24 months or for as long as the property is managed by RESE, whichever is shorter.  Referral fees will be paid annually in January of each year.
  2. Referral fees are only payable as long as the real estate license of the referring realtor remains active. Once inactive, we will cease to pay referral fees.  Referral fees are NOT transferable.
  3. Referral fees will only be paid on referrals that have been properly submitted through our realtor’s portal – no other means of submission will carry this assurance.
  4. If referring realtor changes brokerages, it is the responsibility of the referring realtor to notify RPM of the change, RPM cannot be held responsible for referral fees that are sent to past brokerages.
  5. Once a license has expired, no further referral fees will be paid in respect of properties referred prior to that expiration.  Subsequent license renewals, will NOT entitle referring realtor to backdated referral fees, although referral fees on new properties referred will be paid.
  6. RPM is committed to point the property owner back to the referring realtor whenever possible, if at any time during their association seller is desirous of selling the referred property.  This means that even after RPM has ceased to pay referring realtor referral fees, it will remain committed to pointing the owner back to the referring realtors. It should be noted that RPM often finds out about the desire to sell, after the owner has already selected their representation.
  7. If a tenant, placed by RESE, buys the property in which they reside – RPM will be paid the buyer’s side of the real estate commissions, at the closing of any such transactions.
  8. Referring realtor confirms they are an active, licensed, real estate agent.
  9. Referral fees will be sent to the referring agent’s broker, as required by law.

 

Please note our terms have been updated and will apply as stated from 1 May 2018.

Properties that have been referred to RPM prior to that date, will be grandfathered in as follows:

Referral fees will continue to be paid for 6 months starting from 1 May 2018, or for as long as RPM manages the property, whichever is shorter.  It is our intention to pay referral fees for at least 24 months on properties that have been recently referred.

Your agreement to these terms is acknowledge by the checkbox on the form.