Through its proprietary app, NEXME provides real estate consumers (“Users”) with immediate access to certain licensed real estate brokers. Agent is a licensed real estate broker who wants to be contacted by Users. This Agreement concerns the terms of the real estate brokerage services to be provided by Agent to Users in exchange for being identified by NEXME on its app.
This is called the NEXME Agent Partner Program and these are its terms.
Agent represents and warrants as follows:
I am a licensed real estate broker and a member of the Northwest Multiple Listing Service (NWMLS), both in good standing.
I have been licensed for at least two years, and have taken at least 10 prior listings or been the selling agent in at least 10 prior sales.
In providing the real estate brokerage services described here, I will honor my legal duties that apply.
My Managing Broker and Real Estate Firm will honor the terms of this Agreement.
My payment agreement with my Real Estate Firm (e.g., commission splits, desk fee, etc.) allows me enough income on each transaction so that I can honor the terms of this Agreement.
This Agreement applies to property listed for sale (or to be listed for sale) on the NWMLS. These terms do not apply to any transaction that is not using or will not use the NWMLS. If User wants me to help with any transaction not involving the NWMLS, I may negotiate terms of my choice in providing User with real estate brokerage services.
When I am contacted by a User, I decide whether I will provide the requested real estate brokerage services. Where I provide User with those services, I will charge User a total commission of 1% of the final sale price. I will never charge a User, whether directly (as a listing broker) or indirectly (as a selling broker), a commission over 1%.
When I assist a User who is buying property, I will not ask User to sign a Buyer Agency Agreement or any other agreement unless and until User has asked me to prepare an offer on a particular home (the “Offer”). Any agreement that I ask User to sign or accept before preparing the Offer will be limited to that specific transaction and property. If the Offer (including all counter offers) is not accepted or does not close, then any agreement I have with User will end.
When I assist a User who is buying, I will be paid a Selling Office Commission (SOC). I will credit the entire SOC in excess of 1% of the final Purchase Price to User at closing. I understand that this credit to User will be up to 2% of the sale price (and possibly more). This may result in a credit to User of tens of thousands of dollars, depending on the sale price. I will instruct the Closing Agent (in my commission disbursement instructions or otherwise) to apply the SOC as follows:
1% of Purchase Price to Selling Agent; balance of SOC credited to Buyer at Closing.
Where there is a commercial lender, federal law and underwriting guidelines may restrict a buyer’s ability to receive a credit at closing. To ensure User’s ability to get the full benefit of the entire SOC credit, I will include the following term in any Offer I draft for a buying User that includes financing:
Buyer will receive a substantial credit at Closing from Selling Agent that may exceed an allowable amount. For Buyer to get the full benefit, the Closing Agent will apply the SOC credit as follows: Payment of User’s closing costs and prepaids, in the maximum amounts allowed; then the balance as a reduction in the Purchase Price. The Closing Agent shall then reduce the amount of the credit towards User’s closing costs in an amount equal to the SOC percentage multiplied by the new reduced Purchase Price, less the amount paid Selling Agent and Firm, less the amount of the reduction in the original Purchase Price.