Terms & Conditions
We are pleased with the opportunity we have to offer no and low-cost office space for our Agents. Please read the following office policies prior to signing:
AVAILABILITY
Obtaining an office will first depend on availability. If no offices are available, and the Agent qualifies for an office, the Agent can request to be put on a waiting list for future available offices. Requests should be submitted to Kristin Cole at kristin@silvercreekrealty.com .
PRODUCTION REQUIREMENTS
To qualify for a no-cost office space, the Agent must be consistently closing 20 transactions at the full $450 transaction fee each year (capping). The brokerage looks at production based on the Agent's anniversary date at the Brokerage and the production over the past 12 months. Both of these factors are considered when determining if the Agent is eligible for the office space. The Agent must commit to use the office space at a minimum of 3 days per week.
USAGE REQUIREMENTS
The office space provided to the Agent is designed to be used for operation of their real estate sales business. Use for operation of other businesses is not permitted without written permission from the Brokerage.
Agent must be regularly using the office space to maintain qualification guidelines (at least 3 times per week). If Brokerage determines that the Agent is no longer actively using the office, they may require the agent to share an office, relocate to a different office, or vacate the office.
CHANGE IN TRANSACTION PRODUCTION
If an Agent has previously qualified for an office but closes less than 20 transactions in the most recent year, the Agent may elect to stay in the office under one of the following paid options:
• Monthly Cost: A monthly cost will be proposed by the Brokerage to the Agent based on the last 12 months of production of the Agent and projected production for the upcoming year. The cost will be reevaluated annually.
• Double Cap: If an Agent closes 10 or more transactions, but less than 20 transactions per year, the Brokerage can offer a double cap to an agent as a way to pay for office space. In this situation, the Agent will pay $900/transaction instead of $450/transaction and will cap at 10 transactions per year instead of 20 transactions per year. This is based on the Agent's anniversary period with the Brokerage.
SHARED OFFICES
Offices may be shared or private, based on the discretion of the Brokerage. In 1 or 2-person offices, each Agent is responsible to reach the 20 transaction minimum based on individual production. Closings from team members do not count towards the cap for team leads.
NON-QUALIFICATION
In the event that the Agent no longer closes 20 transactions in a year and/or is not using the office space consistently, they must agree to a paid option or choose to vacate their office. The Brokerage will issue an updated Office Agreement or Notice to Vacate via email to the Agent. Agent will have 14 days to execute the new agreement or vacate the office space from the t ime of this notice. If the Brokerage is unable to reach the Agent or the Agent is not able to move out within 14 days, the Agent's belongings may be packed and stored until the Agent can collect them (up to 30 calendar days). After 30 days, all items will be donated.
ALTERATIONS
Office spaces are not to be altered unless given express written permission by Brokerage (changes to paint, carpet, etc). All furniture, decor, and move-in/move-out expenses are to be provided and paid for by the Agent.
CLEANLINESS & DAMAGE
The Brokerage will provide an office cleaning service a minimum of 2 times per week. The cleaning service will empty trash cans within an office, but no other service. It is the Agent's responsibility to maintain the office in a state of cleanliness. Any damage caused by the Agent or the Agent's guests/clients will be the responsibility of the Agent to repair. If damage is not repaired, the Brokerage has the right to hire a contractor to make needed repairs. In this case, the costs will be billed to the Agent's account at the Brokerage.
MOVE IN & OUT INSTRUCTIONS
When an agent moves into or out of an office, they must do it after hours or on weekends so as to not interrupt daily business for the Brokerage and/or other Agents. Agent is responsible for all costs related to move in and move out. When an Agent moves out of an office, all items belonging to the Agent should be removed, damage repaired, and items belonging to the Brokerage left in a clean and functional condition.
ANNUAL OFFICE REVIEW
Each year the Brokerage will check in to make sure your needs are being met with the office space. Additionally, we will review the most recent 12-months of production and frequency of office use to ensure the Agent still qualifies for the office space. In the event that the Agent does not qualify, options will be reviewed and negotiated between the Agent and the Brokerage.
