Note: We work directly with Muljat Group Commercial for all referral transactions.
COOPERATION AND REFERRAL AGREEMENT
THIS COOPERATION AND REFERRAL AGREEMENT (“Agreement”) is entered into by and among Muljat Group, Inc, 510 Lakeway Drive, Bellingham, WA, 98225(“Referring Party”), and ________________ (“Referred Broker”).
Term. The term of this Agreement shall commence upon the Referred Agent’s or Referred Broker’s signature (the “Effective Date”), and shall continue for a period of one (1) year. This Agreement will automatically renew each year unless terminated by the parties pursuant to this Agreement.
Duties of Referring Party. Referring Party shall from time to time provide listing and seller referrals (each a “Potential Client”) procured through its website to Referred Agent and/or Referred Broker. This includes but not limited to _____________________ (“Potential Client Name”) of __________, ______ (“Potential Client City, State”).
Duties of Referred Broker and Referred Agent.
Referral Fee. Referred Broker shall pay to Referring Party, within ten (10) business days after any applicable closing or lease execution, an amount equal to twenty percent (20%) of the commission that Referred Broker and Referred Agent were entitled to receive from the transaction involving the Potential Client (the “Referral Fee”). The Referral Fee is calculated based on the commission received prior to the Referred Agent’s split with the Referred Broker. Referred Broker shall instruct the responsible attorney or escrow and title company to pay the Referral Fee to Referring Party at the closing, and Referring Party shall have the right to make a demand directly to the responsible attorney or escrow and title company. In the event a Referred Broker contends that any referral was not authorized or accepted by the Referred Broker, the Referred Agent executing the Referral Agreement shall be liable for payment of the entire Referral Fee due to Referring Party.
Referral Period. Referred Broker’s and Referred Agent’s obligation to pay the Referral Fee shall continue for a period of eighteen (18) months from the date on which the Referred Agent or Referred Broker submits a proposal or commission quote to the Potential Client. The Referral Fee shall apply to the initial transaction as well as any other real estate transactions involving the Potential Client that become binding or close during the Referral Period.
Standard of Services. Referred Agent and Referred Broker shall perform the services hereunder in a manner that follows NAR’s Code of Ethics and Standards of Practice. In no event will Referred Agent or Referred Broker take any action that would result in the disparagement of Referring Party’s reputation, image, or goodwill with its Clients, its potential clients, or the public at large.
Breach. Subject to Section 3.a, in the event that the Referred Agent or Referred Broker breach their payment obligations hereunder, the parties agree that Referred Broker shall pay to Referring Party additional compensations equal to fifty percent (50%) of the amount otherwise due hereunder, along with all costs of collection (including without limitation attorneys’ fees).
Indemnification. Referred Agent and Referred Broker agree to defend, indemnify and hold Referring Party harmless from any damages, costs, expenses, judgments or attorneys fees and litigation costs or expenses arising from any allegations asserted by a third party, including a Potential Client (a “Claim”), that if proven to be true would constitute a breach of Referred Agent’s or Referred Broker’s duties, obligations, warranties or representations under this Agreement.
Termination. Either party may terminate this Agreement upon thirty (30) days written notice, subject to such party’s obligations, if any, to pay earned Referral Fees up until the actual date of termination, including any and all pending transactions that fall within the confines of this Agreement.
Representations and Warranties. Referred Agent and Referred Broker represent and warrant to Referring Party that, as of the date of this Agreement and for the entire Referral Period, Referred Broker: (A) shall be and maintain itself as a duly licensed real estate broker; (B) has full power and authority to enter into this Agreement and perform this Agreement without violating any other Agreement or duty to which Referred Broker is subject; (C) has full authority to bind the brokerage company on whose behalf he or she is signing; (D) shall be personally liable for any payments due hereunder in the event that any of these representations and warranties is false.
Assignment. This Agreement may be assigned by Referring Party without Referred Broker’s or Referred Agent’s prior written consent in connection with any merger or sale of all, or substantially all, or Referring Party’s assets or stock.
Washington Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Washington.
Electronic Signatures; Effectiveness. The parties acknowledge and agree that electronic signature of this Agreement by submittal on Referring Party’s website complies with the Global and National Commerce Act of 2000 (the “E-Sign Act”), and that this Agreement shall be effective from and after the earlier date that Referred Agent or Referred Broker submits it to Referring Party. The Referral Period hereunder shall commence as of the Effective Date.
Attorneys’ Fees. In the event of any litigation between the parties arising out of this Agreement or any of the transactions contemplated by this Agreement, the prevailing party shall be entitled to recover reasonable attorneys’ fees and costs from the non-prevailing party. THE PARTIES EXPRESSLY WAIVE ANY RIGHTS WHICH THEY MAY HAVE TO A TRIAL BY JURY.