Real Estate Broker Commission Policy
Broker Referral Policy
Effective September 1, 2010
Agents
Office Evolution will pay Real Estate Brokers/Agents a Referral Fee for initial introduction of their clients which result in an executed Office Service Agreement. Broker involvement must be declared in writing within 24 hours of the initial contact. If the referred client had previously contacted Office Evolution or had previously been referred by another broker, the Referral Fee shall be denied.
This Referral Fee is reserved for commercial Real Estate Brokers/Agents, residential Real Estate Broker/Agents that are duly licensed and in good standing. Real Estate Brokers/Agents must identify themselves immediately when making the introduction.
Calculation and Payment of Fees
Compensation shall equal the greater of 1) 10% of the initial term’s Base Rent exclusive of any Office Support service packages or any other fees, or 2) $100. The initial term shall not exceed one year.
Payment shall be made after the security deposit, set up fees and first month’s invoice are paid. For 12 month leases there shall be two equal payments with the second payment being made after the sixth monthly invoice has been paid.
Any promotions shall be included in the calculation of the fee. For example, if one month of free rent is given for a 12 month lease, the broker shall be paid 10% of 11 months of rent. There shall not be any additional fees paid for renewals beyond the original term or for any additional space.
Office Evolution reserves the right to lessen or deny any broker commission if above policies are not strictly followed.