FAQ - Agent Agreements/ICA
FAQ regarding Agent Agreements and Contracts, Contract Storage and Access, Agreement Requirements and Types, Administration: Agreement Requests / Customization / Process, Agreement Terms & Provisions
Where are contract files saved: A copy of all contracts is saved in a shared drive managed by PLACE.
Can teams have access to their contracts folder? With written approval from the leadership on the team, yes, we can share access to the team's contract folder.
What is the source for the contract linked in the user's Brivity record? Our support team updates the links in Brivity to match the agreement on record with our legal department.
Do I need an agent agreement for an unlicensed agent? We do not recommend creating a full agent agreement until the person is officially licensed, to stay compliant with regulations. However, if the agent has access to your CRM, we do recommend having them sign a Confidentiality Agreement to protect your business’s confidential information. We are happy to share a template your team can customize. Please let us know when the agent becomes licensed, and our team will get the agreement in motion for you.
Should I have an agreement for Referral Agents? Here are some scenarios we see regarding referral agents. It is always best to loop in our Legal Team so they can make the final judgment call and make sure the right contracts are requested.
Scenario one: An agent provides referrals to your team but they are not on your team and they don't need access to Brivity, Our PLACE, etc. A standard referral agreement per client is sufficient, no Independent Contractor Agreement is needed.
Scenario two: An agent needs database access and is in your Brivity.An example would be if this agent had their database in Brivity and they are actively working their leads and passing them off as warm referrals. Or if they have their database in Brivity and the team is working those leads with the expectation that if they convert something, the original agent would receive a referral fee. In this case, you should request a Client Database Referral Agreement. We would also suggest a Confidentiality Agreement. The reason for the Confidentiality Agreement is that when someone is in your CRM, they are automatically given access to Our PLACE, your team toolkit, and other pieces of training and resources. So you could have a confidentiality agreement in place to protect against those resources, for this Shawn needs the candidate's name, email address, and start date.
Does my W2 employee need an agreement if they are licensed? If the W2 employee will actively be selling, then yes, they would need to be on an agreement. Even if it is only one transaction per year. Our sales agent agreements document splits, ensures that team protocols are followed (e.g. the collection of transaction fees), provides the team's database with an additional layer of protection, and allows our accounting team to verify and properly document team revenues.
How should I handle an agent Termination/Separation?
When an agent leaves the team, we recommend documenting the termination date via email, even if the agent has already given a verbal or written notice of termination. Ideally, the termination email should include a pdf copy of the sales agent's agreement and a copy of their exported sphere, but if there is a delay in exporting the database or other complications, it can be sent later in another email.
Below are two letter templates. For the team's convenience, you should proactively provide the most recent signed agreement to them to include with their termination letter. To do this, find the agreement, download it and attach in an email to the Operator.
If the agent is being permitted to finalize and receive commissions for transactions that are in progress, the team should also provide a non-solicitation agreement.