Tony and Suzanne Marriott's Phoenix Arizona Real Estate Blog

Here is a link back to Part 9 in case you missed it! 

This is the final section of the Agreement.  It covers the termination process, and has a clause designed to protect the team against "solo agents" in "Buyer Associates clothing".  Having encountered situations last year where an agent would join the team, take an incredible amount of my time and the support staff's time, only for them to depart back to a solo career armed with the training we had provided, we needed a mechanism for recovering our investment in time and effort.  Hence the grid and the time frames.  The amounts we use are not punitive - they are reasonable compensation for services rendered by us to the Buyer Associate, and this portion of the agreement is covered in great detail prior to signing.  So far, we have not "lost" a recruit due to this clause - but we're watching it closely.

The agreement is signed by me, the Buyer Associate AND the Designated Broker.  The Broker's signature makes the standing referral agreement (mentioned in an earlier section) valid and binding.

Article 11

This agreement may be amended by Rainmaker Team Leaders should Keller Williams International or Keller Williams Realty Professional Partners make changes that impact the Rainmaker Team Leaders or the Buyer Associate.

Buyer Associate understands that this Buyer Associate Agreement differs from Buyer Associate Agreements offered by other Rainmaker Teams and from Individual Agent Agreements offered by Keller Williams Realty Professional Partners, and agrees to that difference.

Either party may terminate this agreement and the relationship created hereby hereto, with or without cause, at any time.  Buyer Associate affirms that they will be bound by the terms of the agreement for a period of three (3) years following the date of termination of this agreement.

Upon termination of this agreement, Rainmaker Team Leaders or assignee shall handle all negotiations, customers/clients, and/or services commenced by Buyer Associate, during the term of this agreement unless superseded in writing at time of termination. 

It is agreed and understood that any tangible items provided as tools are the possession of Rainmaker Team Leaders, unless otherwise agreed to in writing.  These items may include computers, written materials, preprinted forms, signs, etc.  In the event of termination, these items shall be returned immediately to Rainmaker Team Leaders in the condition originally obtained, excluding normal wear and tear. 

If the Buyer Associate leaves the team during the first 3 years of this agreement, either voluntarily or as a result of failing to comply with a specific provision of this agreement, it is agreed and understood that liquidated damages to compensate The Marriott Group for their investment in training, coaching and advice will be due and collected from the former Buyer Associate as "Referral Fees" from future transactions by the former Buyer Associate with the former Buyer Associate's own sphere of influence and/or by their own marketing and prospecting efforts, for the remainder of the 3 year period following the date the Buyer Associate joined the The Marriott Group, according to the following schedule:

Buyer Associate commission split will be paid only if Buyer Associate is still working under this agreement at the time of close of escrow of transaction(s).  A Buyer Associate no longer under this agreement at time of close of escrow will not receive any compensation unless superseded in writing at time of termination of this agreement.

Anthony R. "Tony" Marriott - Rainmaker Team Leader                               Date

>- Buyer Associate                                              Date

Keller Williams Realty Professional Partners Broker                                  Date