Homespot
Homespot
ADVANTAGES
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HOMESPOT CORPORATION
Each office is independently owned and operated.
Not intended to solicit buyers or sellers currently under contract.
Agent / Broker Rules
A. Agent/Broker may decide to continue to market themselves on the basis of maintaining relationships for future business or referrals. All material must include the Homespot Corporation Brokerage identification and “Independently owned and operated” and may not include any reference to “MLS” or any real estate board.B. Agent/Broker shall, when buying or selling real estate, where the Agent/Broker has an interest, ensure that all the requirements of the Real Estate and Business Brokers Act have been adhered to.C. Agent/Broker shall pay the required fees to maintain their registration in good standing with RECO and Homespot Corporation.D. Agent/Broker shall be an Agent or Broker of Homespot Corporation on an Independent Contractor employment basis and as such shall be responsible for all their own expenses including (but not limited to) licensing and registration.E. Agent/Broker shall notify the Broker of Record of Homespot Corporation in the event the said Agent/Broker transfers their registration to another real estate brokerage.F. Any violation of this policy on the part of the Agent/Broker shall be deemed a breach of contract and the Agent/Broker shall hold Homespot Corporation harmless and indemnify Homespot Corporation from all damages, levies, fines, suits, proceedings, claims, actions, or causes of actions of any kind and of whatsoever nature, including but not limited to all legal costs arising from, or in connection with, the violation causing the breach.G. Agent/Broker is responsible for any transfer fee imposed by RECO or any association.H. Agent/Broker understands that termination from their Board will also terminate coverage in CREA and OREA. Termination in OREA will subsequently terminate coverage under the Ontario Realtor Wellness Plan (ORWP). Members of TRREB who have been members for more than 25 years are eligible to continue participation in the Life and AD&D Insurance Program providing they continue to pay an annual fee under the Honoured Friends program.
2. Commissions and Referral Fees
A. A Homespot Agent/Broker may only receive referrals from another Brokerage. A direct commission earned from a client or unrepresented person is not permitted.B. The referral fee the Agent/Broker receives will be determined and based on their written referral agreement with the referring agent/brokerage.C. Homespot Corporation will retain a $399.00 fee on referral amounts received by Homespot on behalf of the Homespot Agent/Broker. The remaining referral fee received will be paid out to the Agent/Broker.
3. Homespot Corporation Annual Fee
A. An Agent/Broker registered with Homespot Corporation shall pay an annual association fee of $240 plus the applicable H.S.T. upon approval of my application and on an annual basis thereafter. The fee is non-refundable .B. In the event that the annual fee is not paid by the Agent/Broker to Homespot Corporation by the anniversary start date of the applicable year, Homespot Corporation will terminate the Agent or Broker's registration with Homespot Corporation by notifying RECO on the prescribed form.
