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The above named Client is being registered by the above named Real Estate Brokerage Office and Real Estate Agent with Emmer Development Corp. (EDC), which guarantees that the Real Estate Agent’s compensation will be protected if the following conditions are met:
1. The closing of an EDC home is consummated. If the sale is not closed and funded, no matter what the reason, no commission is due or payable to Agent.
2. Agent is a practicing real estate agent registered with the above named brokerage firm at the time of closing.
3. Agent has accompanied Client on one of the first two meetings prior to signing of a sales contract. No other visits are required if the Client signs a sales contract during the 180-day period following the date of this registration. After the 180-day period, it is the Agent’s responsibility to renew their Client’s registration with EDC.
4. Either prior to or during the Client’s first visit, the Agent completed this form.
5. If, for any reason, the Client is lost to another broker (as determined by EDC in its sole discretion) prior to the contract, then no compensation shall be payable to above named Agent or Broker.
6. Agent acknowledges that EDC reserves the right to set a compensation amount for Agent after reviewing the contract in place between the Client and Agent.
7. The compensation is computed on the base price of the home. No compensation will be paid for options or lot premiums. This is the same for both Inventory homes and To-Build contracts.
8. If Client’s deposit is forfeited upon default by the Client, the entire deposit will be earned by EDC, and neither the Real Estate Brokerage Office nor the Agent will have any claim for any portion thereof.
9. Agent’s entitlement to compensation is conditional upon Agent’s acceptance of all the terms of this Agreement and Agent’s acknowledgment of these terms above.
