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New Agent Registration

1Registration for Real Estate Association
2Independent Contractor Agreement
3Agent Fee Sheet - Schedule 1
4Addendum to Independent Contractor Agreement
5Statement of Understanding
6Statement of RESPA Policy
7KWCB Credit Card Payment Form
8W-9
9What Is Profit Share?
10Binding Sponsorship Agreement 1/5
11Binding Sponsorship Agreement 2/5
12Binding Sponsorship Agreement 3/5
13Binding Sponsorship Agreement 4/5
14Binding Sponsorship Agreement 5/5
15Profit Share Information
  • Registration for Real Estate Associate

  • This is important if it is different then your legal, such as a different last name, or if you go by your middle name.
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  • Your Contact Information

  • More Information

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  • Your Real Estate Information

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  • Emergency Contact

  • Independent Contractor Agreement

  • 1.      Engagement

    This Agreement is entered into on the date shown above between the Associate and Licensee identified above. Subject to the terms and conditions of this Agreement, Licensee engages Associate as an independent contractor to assist clients with the purchase and sale of real estate. Associate accepts the engagement and agrees to provide the services of a real estate associate (salesperson) to clients in the manner and subject to the conditions this Agreement provides.


    2.     General Terms of Engagement

    A.         Associate understands that he or she is entering into this Agreement as an independent contractor and not as an employee. Licensee will have no responsibility to withhold or pay any income or other taxes on Associate’s compensation or to provide any insurance, retirement or other employee benefits to Associate. Associate’s independent contractor status will define the parties’ relationship despite any contrary designation that appears on Associate’s real estate license, website, signs, business cards or other marketing or promotional materials. 

    B.         Associate will be free to determine his or her own business hours and to choose his or her own target clients, marketing techniques and sales methods. However, Associate agrees to conduct business in compliance with the standards of conduct prescribed by Keller Williams Realty, Inc. (“KWRI”); the standards of conduct prescribed by Licensee; with local, state and federal laws that govern real estate brokerage; and with the By-Laws and Codes of Ethics of each trade or professional organization of which associate or Licensee is a member. Without limiting the generality of these commitments, Associate agrees:


    (1)  to comply with all laws and all KWRI and Market Center policies and guidelines, including but not limited to the KWRI Policies and Guidelines Manual, that apply to the dissemination of unsolicited e-mail (“spam”) and faxes and to the use of telephone calls to market Associate’s services or to solicit listings or prospective buyers;

    (2)  to adhere to and comply with the Privacy Policy and Terms of Use that KWRI publishes and prescribes from time to time for the www.kw.com website, the KWRI Intranet and any other websites owned and operated by KWRI. KWRI may, in its unfetter discretion alter, vary, change or amend the Privacy Policy or the Terms of Use as KWRI deems necessary from time to time.;

    (3)  to adhere to and comply with KWRI’s guidelines and restrictions that apply (i) to the registration, ownership and use of domain names for websites that display the Keller Williams trademarks or logo, (ii) to the display and use of the Keller Williams name, trademarks and logo on the Internet, and (iii) to the use of metatags and other devices that attract Internet search engines to such websites; and

    (4)  to adhere to and comply with all other KWRI and Market Center policies and guidelines, including but not limited to those set forth in the KWRI Policies and Guidelines Manual.


    C.         Associate acknowledges that he or she has read and is familiar with the KWRI Policies and Guidelines Manual. Associate also acknowledges that he or she has access to the KWRI Policies and Guidelines Manual through the KW Intranet and may access and read it at any time.

    D.         During the entire time that Associate remains with the Market Center, Associate agrees to list all real estate listings that Associate obtains and to handle all real estate transactions in which Associate engages in the name of KELLER WILLIAMS REALTY.

    E.         Associate agrees not to do anything by action, conduct, statement or association that might damage the goodwill associated with Keller Williams’ name, trademarks or reputation or cause the public to lose confidence in the Keller Williams system.

    F.         Associate will have no authority to incur obligations on Licensee’s behalf and promises (1) not to sign any contract, agreement, lease or note in the name of Licensee, (2) not to open or maintain any bank account or investment account in the name of Licensee, and (3) not to endorse for collection or deposit in associate’s personal account any check, money order or other negotiable instrument made payable to Licensee.

       

    3.     Compensation and Expense Allocation

    A.          For so long as Associate’s association with the Market Center continues, all income earned from Associate’s real estate sales activities will be accounted for and disbursed through the Market Center in accordance with the KWRI Policies and Guidelines Manual. 

    B.          Licensee will share the commissions earned on real estate transactions in which Associate represents a client as buyer or seller in accordance with the commission splitting and capping policies that Licensee offers generally to licensed sales associates. Licensee’s current commission splitting and capping policies are described in Schedule 1 to this Agreement. Associate acknowledges that Licensee retains sole discretion to change these policies. Associate’s compensation will be payable only from closed transactions, and Associate may not draw or borrow against any compensation payment. 

    C.       Licensee will pay the following expenses on Associate’s behalf:         Agent Fee Sheet - Schedule 1         

    D.          Associate will be solely responsible for paying the cost of his or her own (1) real estate license fees and occupational taxes, (2) insurance, including Associate’s portion of errors and omission liability insurance (“E&O Insurance”) and auto insurance, (3) transportation, (4) business cards, yard signs, brochures and other marketing materials, (5) entertainment costs, club dues and other expenses incident to the conduct of his/her services as an Associate, (6) Internet website development and maintenance, and (7) certain fees assessed by KWRI for a listing on the www.kw.com website, for access to the Keller Williams Intranet and e-mail system and for other benefits of association with the Market Center. 

    E.          Associate agrees that if Associate does not pay fees in full when due, Licensee may deduct any unpaid amount from Associate’s commissions. 

    F.         Associate will be eligible to participate in the Keller Williams Profit Sharing program to the same extent and on the same terms as other Keller Williams  Associates.  Associate must complete a Binding Sponsorship Agreement upon becoming affiliated with a Market Center. Associate understands that a Keller Williams Market Center must become profitable before it participates in the Profit Sharing program and that participating Associates must remain with the Keller Williams system for a minimum period before their benefits become vested. Associate also understands and agrees that it is Associate’s responsibility to ensure any fees related to the Keller Williams Profit Sharing program are timely paid and to ensure that Keller Williams has updated contact and payment information.

     

    4.     Limited Trademark License

    For as long as Associate’s association with the Market Center continues, Associate has permission to use the KELLER WILLIAMS REALTY name and logo on his or her yard signs, business cards, letterhead and other business forms and marketing or promotional materials, subject to KWRI’s advance approval of the artwork and text. Licensee will arrange for Associate to have a listing on the www.kw.com website, but, without express permission from KWRI and compliance with any policies and procedures that KWRI imposes, Associate may not use the Keller Williams name or logo on, or in the domain name, URL or metatags of, any website with which Associate is associated or in any Internet advertisement that Associate places. When Associate's association with the Market Center terminates, his or her permission to use the KELLER WILLIAMS REALTY name and logo will unconditionally cease, and Associate must immediately destroy all business forms that reflect Associate’s affiliation with the Keller Williams organization and must comply with KWRI’s guidelines and procedures regarding website abandonment or revisions. If, with or without KWRI’s permission, Associate has used any variation of the KELLER WILLIAMS REALTY name or initials in a domain name or social media account, Associate will immediately transfer registration of the domain name to KWRI without compensation.

       

    5.      E&O Liability Insurance; Indemnification

    A.          Associate agrees to pay for E&O Insurance covering errors and omissions incident to the professional services a real estate sales associate customarily provides in accordance with Licensee’s guidelines and the KWRI Policy and Guidelines Manual.

    B.          For purposes of Sections 5.C and 5.D, “Liability” means all liability, claims, damages, losses, costs and expenses that a party sustains or incurs as a result of or in connection with a particular incident or situation related to Associate’s actions (or lack thereof) as a licensed real estate associate (salesperson). 

    C.          Associate agrees to indemnify and hold Licensee and KWRI harmless from and against all Liability that Licensee or KWRI incurs or suffers on account of associate’s intentional disregard or breach of any law, regulation or standard of conduct that applies to Associate’s actions or activities as a licensed real estate sales associate. 

    D.           For risks not customarily covered by E&O insurance and for Liability arising from Associate’s negligent (unintentional) disregard or breach of any law, regulation or standard of conduct that applies to Associate’s actions or activities as a licensed real estate sales associate, Associate agrees to indemnify and hold Licensee and KWRI harmless from and against that percentage of any Liability that equals the percentage of commissions payable to Associate on the date the incident or omission that gave rise to the Liability occurred. 

       

    6.      Restrictive Covenants and Confidential Information

    A.          Licensee recognizes and agrees that all customer names and profiles that Associate possesses at the relationship’s inception or personally develops during the time Associate is associated with the Market Center (collectively, “Associate’s Data”) constitute valuable business assets of Associate that are entitled to protection as confidential information. Licensee promises that it will not, during the time of associate’s association with the Market Center or at any later time, attempt to obtain or exploit Associate’s Data and will not attempt to stop Associate from taking his or her Associate’s Data when his or her relationship with the Market Center ends. 

    B.          Associate recognizes that Licensee and other Market Center Associates have spent substantial time, effort, and money to develop the Market Center’s customer base and Associate team. Except for Associate’s Data, which is not covered by this Section 6.B, the names and profiles of customers who have bought or sold real estate through the Market Center and of Associates who are associated with the Market Center constitute valuable business assets of Licensee or other Associates that are entitled to protection as confidential information. Associate promises that he or she will not, during the time of Associate’s association with the Market Center or at any later time, divulge, sell, exchange or distribute to any person except Licensee, other Associates associated with the Market Center or, with Licensee’s permission, other members of the Keller Williams system the identities or profiles of any person who has bought or sold real estate through the Market Center or of any Associate that Licensee has recruited to the Market Center. Further, Associate promises not to contact any such customer or Associate or to use any such profiles except in connection with the business of the Market Center.

       

    7.      Term and Termination

    A.          Associate’s association with the Market Center will continue for an indefinite period. Either Associate or Licensee may terminate Associate’s association with the Market Center at any time, with or without cause or prior notice.

    B.          Termination of Associate’s association with the Market Center will not terminate any of the continuing rights or obligations of either Associate or Licensee under this Agreement, particularly the covenants in Sections 5 and 6.

    C.          If Associate’s association with the Market Center terminates for any reason, Licensee will release and allow Associate to take all solo listings and buyer agency contracts that Associate was responsible for obtaining. If Associate shares listings or agency contracts with other Associates in the Market Center, the listings or agency contracts will remain with the Market Center, but Associate will receive his or her full share of the related commission when a sale of the property closes.

    D.          If Associate’s association with the Market Center terminates, Licensee will continue to pay Associate’s commissions on closed transactions in accordance with the commission splitting/capping policies that applied on the date of Associate’s termination.

    E.        If Associate owes Licensee any Participation Fees or other amounts at the time Associate’s association with the Market Center terminates, or if any amounts become due after termination, Associate authorizes Licensee to deduct the amount due from any commissions or other amounts due Associate until Associate’s account with Licensee has been fully paid.

       

    8.      Representations

    A.          Associate represents to Licensee that:

    (1)   Associate is duly licensed as a real estate broker or salesperson (a “Real Estate Professional”) in the state in which the Market Center is located and that Associate is currently authorized to act as a Real Estate Professional in that state.

    (2)  Associate is not now, and has not been within the last five years, a defendant in any lawsuit alleging professional misconduct or violation of any deceptive trade practices/consumer protection law, nor is Associate currently subject to an investigation by a real estate commission or comparable oversight body.

    (3)  Associate expressly represents and warrants that Associate is free to associate with the Market Center and that Associate is not bound by a promise or commitment to any other real estate company, agency, association, firm, person or corporation that prohibits or prevents Associate from associating with the Keller Williams system.

    (4)  No representative of Licensee or KWRI has represented that Associate can earn a living selling real estate, whether working part-time or full-time. Associate recognizes that the predominant method of earning income in the Keller Williams system is through the sale of real estate, and that any recruiting-based income an Associate may earn is purely supplemental.

    B.          Licensee represents to Associate that Licensee or Licensee’s Operating Principal is duly licensed as a real estate broker in the state in which the Market Center is located.

       

    9.      Miscellaneous Provisions

    A.          If any provision of this Agreement is found to be void or unenforceable by any court or arbitration panel, the finding will have no effect on any other provision of this Agreement, and all other provisions will remain in full force and effect. 

    B.      This Agreement, including Schedule 1 and any policies and guidelines that KWRI and/or the Market Center issues (including but not limited to the KWRI Policies and Guidelines Manual), constitutes the entire agreement and understanding between the parties and supersedes any prior agreement or understanding relating to the subject matter of this Agreement. No change, amendment or waiver of any provision of this Agreement will be binding unless in writing and signed by both Associate and Licensee.

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  • Agent Fee Sheet - Schedule 1

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  • Addendum to Independent Contractor Agreement

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    Each type of real estate must be initialed by Broker or Director of Risk Management to be valid.
  • Payment of Commission: All payment of commissions will only be made payable to the agent or a TREC Broker licensed LLC or Corporation. A copy of the TREC licensed Corporation or LLC must be provided to the Broker.

    Texas Real Estate Commission (TREC) requirements for DBA’s or Assumed Names: All agents are required to file and record any DBA in any and all counties where they conduct business. They are required to provide the notice of the filed and recorded DBA to the Broker for submission to TREC. If an agent conducts advertisement in any name other than their license name, they are required to notify Broker. Agent advertises under the following and will provide DBA to Broker:

  • TREC Requirement for updated information: Agent agrees to provide any updated information directly to the Broker for submission to TREC. TREC requires the agent provide accurate and current email addresses, phone numbers and any other contact information.

    Policy Regarding Agent/Owned Properties: Per the Errors & Omission Policy (E & O) and the Broker Policy for the Market Center, an agent is not permitted to act as their own listing agent on any property.  The property would need to be listed with another associate within the Market Center to qualify for E & O coverage for the Broker/KW.  Failure to comply with this policy will result in the agent/owner indemnifying Keller Williams for any claims, losses, damages, settlement and legal expenses for violation of this policy per the Independent Contractor Agreement and the broker returning their license to TREC.

    Property  Management: Only agents with expressed written permission to conduct Property Management will be covered under our E & O policy.  Any agent conducting Property Management activities without the Broker’s written permission will be subject to their license being returned to TREC and a fine assessment of $1000.00.

    Probationary License Status: Agent is acknowledging that their license is not subject to any probationary status by TREC.  If the license is under any investigation for a complaint by TREC or Texas Association of Realtors of agent is involved in any dispute or lawsuit? Explain:              

    Errors and Omissions Insurance: The associate will pay $75 per transaction for the risk management fee. The agent also agrees to comply with all Risk Management Criteria on each transaction to have the deductible waived and must be an agent in good standing with the Market Center at the time of the lawsuit, legal dispute or complaint. If the agent fails to comply, coverage may be declined by the E & O Company and the waiver of deductible may be rescinded. Agent also acknowledges that all activities may not be covered under the E & O policy. If coverage is declined, agent will indemnify  the  Market  Center  for  any  claims,  losses,  damages, settlements  and  legal  expenses  per  the  Independent Contractor Agreement.  This fee is paid on personal transactions as well.

    *On REO Listings the Broker will not indemnify the seller under any circumstances; no seller or buyer is ever covered under our E & O Policy.  If Listing Agent signs, they are indemnifying the seller not KW Market Center operation or broker.

    IF YOU ARE IN A TRANSACTION AND YOU ARE NOT SURE OF ANYTHING OR NEED ASSISTANCE YOU ARE REQUIRED TO CONTACT THE BROKER/RISK MANAGER IMMEDIATELY FOR SUPERVISION.

    I have read the above statements and agree to abide by all of its provisions:

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  • Statement of Understanding

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  • (2) I have paid all my own license fees and membership dues required under the Independent Contractor Agreement with Broker and have not received reimbursement from Broker.
    (3) I have paid all of my own automobile and transportation expenses and have not received reimbursement from Broker.
    (4) I have paid all entertainment and other incidental expenses in connection with soliciting listings and procuring prospects and have not received reimbursement from Broker.
    (5) Broker has not required me to maintain any specific schedule.
    (6) I have not had to consult with Broker regarding scheduling of my vacations or working hours.
    (7) I have received no salary or sick pay and I am compensated on a commission basis.
    (8) I have paid my own income and FICA taxes.
    (9) My association with Broker may be terminated by either party at any time upon notice given to the other party; but the rights of the parties to any fees which accrued before termination are not divested by the termination.
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  • Statement of RESPA Policy

  • It has always been the policy of Keller Williams Coastal Bend (KWCB) that the Market Center and all of its agents shall comply in all respects to applicable law. This policy continues in full force. In particular, KWCB wishes to direct the attention of all of its agents to the Real Estate Settlement Practices Act, commonly known as “RESPA”. RESPA provides in part that: “No person shall give and no person shall receive and fee, kickback, or thing of value pursuant to any agreement or understanding, oral or otherwise, that business incident to or a part of any real state settlement service involving a federally related mortgage loan shall be referred to any person.” RESPA is administered by the US Department of Housing and Urban Development (HUD). KWCB has been advised that HUD takes the position that accepting anything of value from a party providing settlement services (such as a title company) when that party hopes to obtain referrals is a violation of RESPA.
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  • Credit Card Payment Form

  • Payment is due on the 20th of each month. Please make a selection to indicate your agreement on method of payment.
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  • Monthly Invoice Delivery
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  • W-9 Request for Taxpayer Identification Number and Certification

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  • What is Profit Share?

    Please watch the two videos below to better understand what Profit Share is before completing your Binding Sponsorship Agreement.
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  • Binding Sponsorship Agreement - Page 1

  • 1. Choosing a Sponsor

    Choosing a Sponsor is a very important decision that you must consider wisely since the person you choose will be your sponsor for life. The Profit Share System and Growth Sharing Program were implemented to reward Keller Williams Realty associates and employees for helping build the company by attracting additional talented and productive members.

    The spirit of the system is that your sponsor is that person whom you feel is primarily responsible for bringing you to Keller Williams Realty. In fact, it may or may not be the first or last person who talked to you about joining.  You may over time have met with many people in the company.

    Your Sponsor should be the person most instrumental in bringing you to serious discussions with Market Center leadership about joining the Market Center.

    While you may initially consider one of the following leaders as your sponsor because they made personal contact with you, that leader is ethically bound to honor leads given to them by other Keller Williams Realty family members by ensuring you name the person most instrumental in facilitating your meeting with them.

    These leadership positions include:

    * Market Center Leadership / Staff

    * Regional Leadership / Staff

    * Keller Williams Realty, Inc. Executives and Staff

    Additionally, sponsorship is NOT related to the following:

    1. Whose team you join.

    2. Any promises to help you.

    3. Any benefit offered you to join.

    4. Any promise to mentor.

    5. Someone wanting or thinking or asking that they be your Sponsor.

    6. The Team Leader’s presentation.

    You are the sole person with the right to name your Keller Williams Realty Profit Share Sponsor — any future profit sharing benefits should be given to the person whom you believe actually helped us grow because they brought you to us. We honor your rights because your affiliation with us adds value to the entire Keller Williams Realty family.

    2. Positioning in the Profit Share Tree

    If you join Keller Williams Realty and are the primary reason others come along with you (spouse, family member, partner, staff, etc.) you may want to consider how you/they are “stacked” in the Keller Williams Realty Profit Share Sponsorship Tree. After you choose your primary Sponsor, others, if they choose, may then name you as their sponsor. You may do this in such a way as to maximize the Profit Share you can receive.  For example, spouses that qualify to participate in the Profit Share system may decide to have the producing spouse name the other spouse as their sponsor so that they may actually receive Profit Share from their own family’s production.

    If you bring family or team members, the only requirement is that they are ACTIVELY in the real estate business with you. If they are an administrative staff member, they do not need to be licensed to receive Profit Share. Once with Keller Williams Realty, you and each of your family or team members may also sponsor new people who can then build their  own Profit Share Tree. Please discuss all of this with the Team Leader or Operating Principal of the Keller Williams Market Center you are joining. You want to make the right decisions now, because YOU WON’T BE ABLE TO CHANGE YOUR DECISION LATER.

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  • Binding Sponsorship Agreement - Page 2

  • 3. Formal Designation of Sponsor

    Fully understanding the meaning of Sponsorship, the undersigned hereby designates: 

  • as his/her Permanent Sponsor for purposes of the Keller Williams Realty Profit Sharing system and Growth Sharing program. The undersigned, by execution hereof, understands that the designation of a Sponsor, once executed, can only be changed as follows:


    A.           SUBSTITUTE SPONSORSHIP

    (Section 4, Policies and Guidelines Manual)

    The Associate’s Permanent Sponsor (named above) has not yet joined Keller Williams Realty but, he/she intends to join within 90 days of the Associate's start date. Because the Permanent Sponsor designated above has not yet joined Keller Williams Realty, the Associate hereby designates                                                                                  to be their 

    Substitute Sponsor, and understands this individual will automatically become their Permanent Sponsor unless written notification is given WITHIN 90 DAYS OF THE ASSOCIATE'S START DATE*.  Notification of the change from Substitute to Permanent Sponsor, using the ASSOCIATE SPONSOR CORRECTION FORM in the MORE system, must be signed by the Associate, Substitute Sponsor, Permanent Sponsor, Team Leader and Regional Director, and forwarded to the KWRI MORE Administrator, ALL WITHIN 90 DAYS FROM THE ASSOCIATE’S START DATE*.

    No change will be made if:

    - the Permanent Sponsor designated above by the Associate, does not join Keller Williams Realty WITHIN 90 DAYS OF THE ASSOCIATE’S START DATE*;

    - the proper notices are not given as noted above; or

    - the ASSOCIATE SPONSOR CORRECTION FORM is not completely executed and submitted to KWRI’s MORE Administrator WITHIN THE 90 DAY PERIOD*.

    IT IS THE ASSOCIATE’S RESPONSIBILITY TO ENSURE THAT HIS/HER SPONSOR IS PROPERLY CHANGED WITHIN THIS TIME FRAME.

    * For an Associate that joins Keller Williams Realty as part of a new Market Center launch, the 90-day grace period begins on the first day of the month that the new Market Center transmits for the first time.

    B.           CHANGE OF SPONSORSHIP - CLERICAL MISTAKE

    (Section 4, Policies and Guidelines Manual)

    A clerical mistake can be corrected ONLY WITHIN 90 DAYS OF THE ASSOCIATE’S START DATE* by the Associate submitting a written statement of the clerical mistake to the Market Center, using the ASSOCIATE SPONSOR CORRECTION FORM in the MORE system.  The ASSOCIATE SPONSOR CORRECTION FORM must be signed by the Associate, Current Sponsor, New Sponsor, Team Leader and Regional Director, and forwarded to the KWRI MORE Administrator, ALL WITHIN 90 DAYS OF THE ASSOCIATE’S START DATE*.

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  • Binding Sponsorship Agreement - Page 3

  • IT IS THE ASSOCIATE’S RESPONSIBILITY TO ENSURE THAT HIS/HER SPONSOR IS PROPERLY CORRECTED WITHIN THIS TIME FRAME. IF THE ERROR IS NOT NOTED AND CORRECTED WITHIN 90 DAYS OF ASSOCIATE’S START DATE*, THEN THE SPONSOR, AS ENTERED INTO THE MORE SYSTEM, WILL REMAIN UNCHANGED.

    * For an Associate that joins Keller Williams Realty as part of a new Market Center launch, the 90-day grace period begins on the first day of the month that the new Market Center transmits for the first time.

    C.           CHANGE OF SPONSORSHIP AFTER AN ABSENCE OF 9 MONTHS OR LONGER

    (WHEN RETURNING TO ORIGINAL MARKET CENTER OR JOINING ANOTHER) (Non-Vested) (Section 4,

    Policies and Guidelines Manual)

    Individuals moving from one Keller Williams Realty location to another, individuals who go to work as an assistant or member of another associate’s team or group and individuals who leave Keller Williams Realty for a period of time and later return, all keep their original sponsors - unless they are away from the Keller Williams organization and removed from the Keller Williams Profit Share System for at least nine (9) months. Upon return, provided they were not vested at the time of departure, they may choose a new Permanent Sponsor only after the minimum 9-month period of absence.

    4. Online Confirmation of Sponsor

    The undersigned Associate acknowledges that an online confirmation of his or her Permanent Sponsor is required.  The purpose of the Online Confirmation of Sponsor is for the Associate to confirm that a clerical error was not made in the input of the Permanent Sponsor.

    5. Associate Affirmations

    I understand that Keller Williams Realty, Inc. and its authorized representatives (“KWRI”) have no financial interest in my designation of a Sponsor and that, in recording my Sponsor’s name, KWRI merely follows my instructions.

    I understand that I will have no vested interest as a sponsor of any other Keller Williams Realty associate unless and until that person properly designates me as his or her sponsor in accordance with Keller Williams Realty policies and procedures.

    I understand that, except for a per distribution Real Estate Associates Tracking System (RATS) fee for the administration of the Profit Sharing program or the Growth Share Management ("GSM") fee collected for the administration of the Growth Share Program, KWW or KWRI does not receive any part of a Market Center’s Profit Sharing or Growth Sharing contributions and does not otherwise share in or benefit financially from Profit Sharing or Growth Sharing contributions.

    Duty to not compete: I specifically acknowledge and agree that I forfeit my opportunity to continue to participate in and receive any benefit from the Profit Share program by competing with Keller Williams Realty brokerages through the following actions:

    1.            Affiliating with any non-Keller Williams real estate brokerage company; or

    2.            Directly or indirectly inducing any individual retained as an Associate, staff member or owner of any Keller Williams brokerage to leave the Keller Williams brokerage or affiliate with a non-Keller Williams brokerage.

    On the basis of these understandings and their consequences, I voluntarily waive and relinquish any claims I may have against KWRI and KWW on account of any disagreement over the designation of my Permanent Sponsor or my status as the sponsor of another participant in the Profit Sharing and Growth Sharing programs, except in cases based on my good faith belief that KWRI or KWW has acted with actual malice toward me or in willful for my rights.

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  • Binding Sponsorship Agreement - Page 4

  • 6. Designation of Beneficiary

    I hereby designate the following person or entity as my Beneficiary of my Account under the Keller Williams Profit Sharing System and Growth Sharing Program payable in the event of my death. 

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  • * If you are married, and DO NOT designate your spouse as the beneficiary of your Profit Share and Growth Share distributions, your state may require that your spouse consent in writing to said designation in order for the designation to be upheld if challenged. A Consent of Spouse form is attached hereto for this purpose. KWRI is aware that some states do not require a Consent of Spouse and due to the reality that such laws change and KWRI is unable to determine which state’s laws may apply to an associate’s estate, KWRI encourages any married associate designating someone other than their spouse as their Profit Share beneficiary to have the attached consent form signed by their spouse before a Notary Public.
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  • Binding Sponsorship Agreement - Page 5

  • The 5th page of the Binding Sponsorship Agreement is only required to be filled out if you are married and DO NOT designate your spouse as your beneficiary. If you need to complete this form, you can get a copy by emailing the MCA department at klrw716@kw.com. Please initial acknowledgement Page 5 acknowledgement.
  • Profit Share Information

  • The below form is an Authorization Agreement for Automatic DEPOSITS to receive Profit Share.
  • The above picture is a screenshot of the form that will be filled out by the below information.
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Keller Williams Realty, Inc. is a real estate franchise company. Each Keller Williams office is independently owned and operated. Keller Williams Realty, Inc. is an Equal Opportunity Employer and supports the Fair Housing Act.