Competitor Exit Policies
Realty Austin (Compass)
All transactions in escrow at the time of principal agent termination must remain and close with Realty Austin Compass|Realty San Antonio Compass listed as Broker of record.
Punitive Splits
The minimum Broker Fee for Pending transactions will be modified to:
- 30% if seven (7) days or more notice is given.
- 50% if less than seven (7) days' notice is given.
- Up to 100% if a principal agent fails to remain fully involved to ensure a smooth and
successful transaction or allows their license to lapse. Broker reserves the right to withhold any or all commissions due to the principal agent for their outstanding invoices, judgments, or pending litigation.
Transactional Administration Fees
Any pending and missing files (this includes listings) will have an administrative fee of $100 per
file, to be immediately charged by the company with the payment method on file upon termination. The agent will be assigned to a coordinator to assist staff with the activities and
Active Listings
All active listings require all parties to sign the Termination of Listing (TXR 1410). The agent will need to re-list the listing with the new brokerage.
Email, Calendar, Documents
The principal agent and/or team member is responsible for exporting their data using Google Takeout.
- The principal agent will have seven (7) days to export their Google Account when seven (7) days notice is given.
- Otherwise, the principal agent’s Google account will be deleted when their license is transferred.
Prospects
- Prospects Procured by Principal Agent: The principal agent will be allowed to transfer all prospects procured by the principal agent to their new Broker unless the prospect insists on staying with the Company; in this case, another agent will be appointed to represent the Prospect. We will provide principal agents with an export of their prospects after an exit interview.
- Prospects Procured by Broker: The principal agent and/or team member agrees to pay the Broker a 50% referral fee of the gross amount of any fees, commissions, and bonuses on all transactions that any Referral closes with the principal agent for one year after termination of this agreement. The new broker must sign a referral agreement before prospects are released to the principal agent. Otherwise, the Broker will appoint other agents to pursue any Prospects Procured by the Broker.
Credit Card on File
The agent agrees that our credit card authorization form is valid until all outstanding debts have been collected. Cancellation of the credit card form does not supersede any outstanding payments due.
Compass
Spyglass
Pure Realty
Keller Williams
JB Goodwin
- Commission split is reduced to 25% on any deals under contract.
- They will hold funds for 30 days if funds get dispersed to JB Goodwin first.