Terms & Conditions of the Derbyshire Broker Referral Agreement
In consideration of the mutual promises and obligations hereinafter set forth; Derbyshire and Agent/Broker, intending to be legally bound, agrees as follows:
- Derbyshire agrees to pay Agent/Broker a commission, upon the terms set forth in this Agreement, for the referral by Agent/Broker of prospective buyers of property located within Derbyshire.
- Agent/Broker warrants that he/she is a Real Estate Agent/Broker duly licensed and in good standing within the state in which he/she resides.
- A commission shall be deemed earned by the Agent/Broker only if all of the following events occur: (i) The referred buyer executes a sales contract with Derbyshire for the purchase of an unimproved lot or home in the Derbyshire community (ii) The closing is consummated.
- If a contract is consummated on land then a 5% referral fee based on the sales price will be paid to the outside agent/broker for referring the customer.
- If a contract is consummated on a house/lot package a 3% referral fee based on the sales price will be paid to the outside agent/broker.
- Clients and customers previously registered with Derbyshire are not eligible for an agent/broker referral.