RealPro Real Estate Services Inc. // 250-286-1877

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Policy Manual

Effective January 1/2014

 

 

**********NOTICE**********

 

Information and policies herein have been developed for use exclusively by REAL PRO REAL ESTATE SERVICES INC.

The manual and all information, trademarks, and data contained herein are, and shall remain the property of REAL PRO REAL ESTATE SERVICES INC.

 

 

 PREFACE

 

Real Pro Real Estate Services Inc. (the “Company”) has developed this manual to serve as a guide to the individuals associated with this Company.  The guidelines, policies and procedures contained herein should be acknowledged and read by all Management (the “Management”) partners, employees and licensed Representatives (the “Representatives”) and hereafter referred to as Independent Contractors.

 

Management will, at all times, be governed by the Real Estate Services Act of British Columbia (the “Act”) and will work in conjunction with the Real Estate Council of British Columbia (the “Council”) and Real Estate Boards.

 

This manual has been designed to minimize problems and misunderstandings in the daily course of business.  However, no Manual can be so complete as to cover every incident, nor can it answer every question.  Whenever there are internal disagreements, Management will make decisions and be guided in such decision-making by experience, referring to the guidelines, policies and procedures identified herein and through following the ethics guidelines of the above professional bodies.

 

Management may make additions, deletions and revisions to the Manual in accordance with the procedure outlined herein.  Such additions, deletions and revisions will be announced and will become effective as required.

 

All members of Real Pro Real Estate Services Inc. will have the opportunity of reading the Manual before joining the Company and are expected to abide by the guidelines, policies and procedures in order to form a mutually pleasant, profitable and lasting association.

 

 

 

POLICY MANUAL

 

This Manual contains the definition and explanation of the policies and procedures adopted by Real Pro Real Estate Services Inc. for the conduct of its business.

 

This Policy Manual may be revised, amended and improved from time to time to keep pace with the ever changing marketplace.  This manual is the property of the Company and will be loaned to each new employee or Business Partner upon their becoming affiliated with this Company.  You will find a sheet on which we would ask you to record your initials to indicate that you have read the Policy Manual, on our master copy.

 

Selling Real Estate in not an ordinary job.  It is a profession.  Its demands are terrific.  You must be a leader.  Your honesty must never be questioned.  Your statement of facts must be accurate.  There must be no doubt in the public’s mind or you will not gain or hold the confidence of those with whom you work or serve.

 

 

 


INTRODUCTION

 

Welcome to your Professional Real Estate career with Real Pro Real Estate Services Inc.  You are now a team member of a respected and aggressive, growing organization.  The Companies goal is to provide a favorable business environment that lends support to your progress in a successful Real Estate career and in business.

 

The relationship that is created by any agreements between the Company and a licensed Realtor/business partner (a “Licensee”) working with the Company.  Shall be as an Independent Contractor only.

 

The public image of the Company must be above reproach at all times.  The “Normal Standard” of service shall be exceptional at all times.  Anyone associated with the company who is found out not to be providing exceptional service shall be terminated at the companies discretion.

 

 

REALPRO REAL ESTATE SERVICES INC.

STATEMENT OF PURPOSE

 

The Primary Purpose of Real Pro Real Estate Services Inc. is to deliver professional services that exceeds the Real Estate and Management needs of our customers, the public and protects and enhances the company reputation and growth of the Independent Licensee.  Success shall follow!

 

 

 

REAL PRO REAL ESTATE SERVICES INC.

VISION STATEMENT

 

Through Education, Experience and strong Ethical standards our business partners shall provide unparalleled customer service to ensure continued success for our partners and customers alike…. setting new and higher standards for the industry to follow.

 

 

 

 


       REAL PRO REAL ESTATE INC. CANADA – OBLIGATIONS

 

REAL PRO REAL ESTATE SERVICES INC. – Canada provides us with the Real Pro Real Estate Services Inc. system and access to:

 

  1. Local image – professional and dedicated to “customer first” service;

  2. Advertising – consumer acceptance; offering REAL ESTATE & MORTGAGE services since “1967” trustworthy, assist and promote the partners.

  3. Ongoing education and training – REAL PRO REAL ESTATE SERVICES INC. will assist and promote for all licensees through management and industry and board functions.

  4. Sales Tools – Marketing Plans, Home Buyer & Seller Guides, Various pre-printed forms, mortgage marketing and referrals.

  5. Locally putting advertising dollars towards the future growth and reputation of RealPro Real Estate Services Inc. e.g. signage, bus benches, mail outs, hockey community and local kids charities.

  6. Other Networking Opportunities – e.g. golf dinners, yearend company party, awards dinners, customer appreciation dinners and other networking events.

 


 

DUTIES OF THE OFFICE

(Upon joining our Company)

 

  • Arrange for necessary forms, etc. to be sent to the E&O, the Real Estate Council and Real Estate Boards.

  • Add name and telephone number to company phone directory.

  • Provide introduction to all sales and support staff members.

  • Explain how new listings are processed in the office (listing register, current listings and what happens to expired and sold listings).

  • Explain sequence of sales processing (Contract of Purchase and Sale, sales record sheets, filing of pending and completed or collapsed sales, etc.).

  • Multiple Listing Service

  • Show how lock boxes are issued and go over use of lock boxes and keys.

  • Instruction on copiers and computer operations.

  • Instructions on “For Sale” and other signs (where to order from).

  • Discuss client follow-up systems. (Marketing)

  • Review the Commission Policy and Partner Profit & Expense Sharing Schedule with the Manager.

  • Run Welcome Partner ad (2weeks).

  • Assist in ordering business cards.

  • Provide logos.

 

 

PARTNER/REALTOR JOB DESCRIPTION

 

To secure sales contracts for properties, plan advertising for all listings secured, show properties, complete Sales Contracts, Listings Contracts and all forms required in daily work.  Provide Sellers and Buyers with enforceable contracts.  Provide “Customer First” service to all clients. Provide caring and respectful follow up to all clients.

 

Get involved in the business and day to day operations of the business and from time to time you will be expected to lead discussions among partners on current market conditions and licensing.  Bring opportunities to the table for growth and development of the company and partners.

 

 

WHAT IS EXPECTED

 

  • To know his or her product and the market.

  • Sales production with consistency.

  • To build and sustain the office reputation.

  • Accurately complete Listing Agreements, Sales Contracts, and all other forms related to our business.

  • To maintain a high level of integrity and reputation.

  • Knowledge and sources of Real Estate financing.

  • To be willing to serve enthusiastically.

  • To help maintain an air of positiveness around the office, fellow partners and clients.

  • To attend weekly business meetings, office tours.

  • To attend MLS tours.

  • To return calls in a timely manner/ customer service.

  • To assist in the process of growing and attaining a profit for the company (profit sharing).

 

 

GENERAL REQUIREMENTS

 

All Real Estate Licensees associated with this Company are to be considered full time Independent Contractors.  All Licensees, when commencing employment with Real Pro Real Estate Services Inc., must sign an Independent Contractor Agreement which states the obligations required of this Company.

 

All Licensees are required to take and complete any training programs required by Real Pro Real Estate Services Inc. under the auspices and direction of this Company.  This will include all business meetings set up or called.  Partners shall be expected to hold meetings to educate other licensees and partners and bring new ideas for growth and development of the real estate business to the forefront.

 

Licensees shall check in regularly with the office except when on scheduled holidays.

 

ETHICS

 

The matter of proper ethics shall govern all aspects of this Company’s operations.  All staff shall familiarize themselves with the “Code of Ethics” and “Standards of Business Practice” (CREA).

“Do onto others as you would want done to yourself”

 

BUSINESS PRACTICE

 

  1. Each Licensee is expected to govern their conduct by the RESA and by the Code of Ethics as set out by the Canadian Real Estate Association and by the regulations and by-laws of the local boards.

  2. The Licensee must remain continuously licensed by the Province of British Columbia to sell real estate and be of good reputation.

 

JOIN ORGANIZATIONS

 

Maintain contact with the public by joining civic and fraternal organizations and keep in touch with previously satisfied customers and prospects.  Get involved!

 

 

 

MEMBERSHIP LOCAL BOARDS

 

This Company holds membership in the local real estate boards and the Multiple Listing Service CREA and BCREA.

 

MULITIPLE LISTING REGULATIONS

 

This firm belongs to the Multiple Listing Service and as a member, we agree to conduct our business to conform to their rules and regulations.

 

LICENSES

 

All Licensees will work under a Sales Representative’s or Property Management License.  Anyone wishing to obtain a Broker’s License may do so at their expense; however, said Broker will then be licensed as an Associate Broker under the Real Estate Services Act.  All license fees shall be paid for by the individual.

 

PROFESSIONAL APPEARANCE

 

All Licensees and staff are encouraged to wear a Real Pro Real Estate Service Inc. name tags when on Company business.  Professional dress reflects the image and character of the Company.  Please support us in maintaining a high standard in the public’s eye.

 

LOYALTY TO THE COMPANY

 

Be loyal to your firm and fellow workers.  If you feel everything is not as it should be, then tell your Partners, not the other Licensees or the public.

 

HELP FELLOW LICENSEES

 

Help your fellow Licensees whenever possible.  We have found over the years that Licensees can make more money for themselves and each other by maintaining co-operative attitude rather than a selfish one.  Knowledge is power.

 

 

 

BUISNESS MEETING ATTENDANCE

 

A business meeting will be held once a month during regular business hours.  This is very important for both for the Company and the other Partners.  In consideration to all, the meeting will be called on time and shall end on time.  The synergy of our group of partners and all of our collaboration will be significant in your growth and development both financially and emotionally

 

MULTIPLE LISTING TOUR ATTENDANCE

 

Business partners and all Licensees are strongly encouraged to attend MLS tour each week.  Product knowledge and knowledge of market conditions are essential to providing great customer service and advice.

 

Real Estate Enquiries

 

Any calls resulting from ads or signs shall be referred to the Licensee requested by the caller.  If a Licensee obtains a prospect for a type of property different from the type usually handled, that Licensee may attend to it himself, however, if he requests the help of another Licensee, the two of them should arrive at a clear understanding of how any commission is to be divided BEFORE any work is done.  The Manager should be notified immediately of the arrangement.  In the event of a controversy over the commission split between Licensees, the problem shall be turned over to the Licensees’ committee which, after hearing all sides of the controversy, shall decide on how the commission is to be divided and THAT DECISION SHALL BE FINAL. Walk in customers shall be referred to partners on a rotational system.

 

 

BACK UP PERSON

 

A Licensee should designate a Licensee to look after his\her portfolio and decide with the Licensee ahead of time what the payment will be in the event of a sale.  Should the Licensee fail to make any arrangements, the office will appoint a Licensee to look after their portfolio.  The office will then determine fair compensation.

 

It is the individual Licensee’s responsibility to ensure that his/her portfolio is properly serviced in their absence.  You owe it to your clients and to the Company.  All Licensees should have another Licensee designated AHEAD OF TIME and should provide the name of this designated person to the Front End staff immediately.  This could alleviate any problems should the Licensee be away for an unforeseen reason.

Unlicensed assistants may not be used as a “Backup Person”.

 

 

 

LEADS & PROSPECTS

 

All leads & prospects that come into the office to the Manager’s attention, shall be turned over to Licensees on a rotation basis.  Discretion by the Manager may be used, when necessary.

 

WALK-IN CUSTOMERS

 

Walk-in customers coming in and asking for a specific person (Licensee):

  1. are given to that Licensee;

  2. staff will attempt to make contact with the original Licensee; or

  3. are given to that Licensee’s back-up;

  4. are given to floor person with message on whose client it is, to assist client now, with a message in slot of original Licensee informing them.

 

Customers coming in for information are given to Licensees on a rotational basis.  If the Licensee is too busy to handle a new walk-in or phone call, it goes to the next person on schedule.

 

SPHERE OF INFLUENCE

 

A sphere program is without geographical boundaries, and is comprised of a regular pattern of mail outs to a client base.  Licensees are encouraged to maintain a Sphere of Influence through regular contact communications.

 

OTHER PEOPLE’S CUSTOMERS

 

It is inevitable that sometimes a Licensee will unavoidably contact another’s client.  As soon as they are aware of this, they will contact the other Licensee and attempt to arrive at a solution.  In the event that a dispute arises, it should be discussed with the Manager and if necessary, will be taken before the licensees’ committee.  The customer is always right and shall be asked to choose one of the Licensees and/or have them work together.

 

  

SHOWING OTHER FIRM’S LISTINGS

 

Use the information as indicated on the listing information.  When showing property DO NOT discuss listing price or the other Licensee with the Owners or Tenants.  Return the key promptly if one has been picked up.  If an offer is obtained and you are a new licensee, submit the offer to your Manager for approval and further directions.  DO NOT contact the owners regarding the offer.  The offer should be submitted through the Listing Broker or Licensee and never directly to the Owner.  It is important that the Seller be informed immediately by the “Listing Licensee” of the existence of an offer.  Please don’t ever call the Seller direct.  The board has fined Licensees for contravention.

 

SIGNING DOCUMENTS

 

No personnel of this firm will sign a statement, document or paper of any kind for any person other than themselves.  The only exception to this rule will be in the case of a Written Power of Attorney Statement on file with the co-operation of, and signed by, the Client in which specific functions are outlined.  Any violation of this rule will be adequate grounds for dismissal and a recommendation to the Superintendent of Insurance for removal of the guilty party’s license.

 

FORMS

 

The Licensee shall use only such Real Estate forms as have first been approved by the Company.  All forms must be properly and fully completed for any transactions. 

 

LISTINGS

 

All residential Licensees are encouraged to maintain a minimum of five active listings.  Listings are the property of the designated Licensee but kept on file by the brokerage.

 

In order to comply with the Act and maintain professional conduct:

 

  1. All listings are to be approved by the Management;

  2. Listings will be submitted to Administration within 24 hours of obtaining the Vendor’s signature and will be in the approved form;

     

  3. “Working with a Realtor” brochure must be attached and Schedule “A” with standard services provided must be attached.

     

  4. Each listing must be accompanied by a signed Property Disclosure Statement (PDS).  All listings involving land must have a title search, in order to protect the Company, the Licensee and the public at large.  If there is no PDS, Seller must sign off a reason why (i.e. has been a rental for xxx years).

     

  5. No listing will be considered by the Company to be an Exclusive Listing unless covered by a signed contract with the original in the office and a copy delivered to each Seller.  The Company reserves the right to reject any Exclusive Listing deemed unsatisfactory and to return said listing to the Seller.

     

  6. All lot dimensions should be verified with a plot plan or a Government Agent office.  Each Licensee must confirm listing information (listing contract, data input sheet and as printed in the MLS catalogue).  Any penalty levied by the board for an incomplete listing will be the sole responsibility of the individual Licensee.

     

  7. All listings must have multiple photos and MLS.ca link.

  8. All Listing and Sales Files may not leave the office and all information in the Listing and Sales File is confidential and may not be passed on.  Limited Dual Agency prohibits personal information from being passed on.  Each listing is the prime responsibility of the listing Licensee whose name will appear on the listing and all signage.  The listing Licensee will be responsible for maintaining appropriate contact with the Seller, for keeping the listing up-to-date, for ensuring respect for the Seller’s convenience, and for coordinating the sales efforts for that listing.  Licensees must have their own complete working files and copies of all documents.  These may be amalgamated with company files at completion of sale.  The company encourages licensees to maintain their own files as well.

     

    Listings are to be taken for a definite period of time, minimum 90 days – make your     personal standard 120 days.  A listing will not be binding upon the office until it has been checked by the Manager, before the Licensee who obtains it is protected as to commission rights.  IT MUST BE completely filled out with proper signatures of all necessary parties and countersigned by the Manager (the counter signature denotes office approval).  Any office listing which has expired should be renewed by the listing Licensee prior to expiry date.  When a Licensee leaves the Company for any reason, all listings obtained by him or her become the property of the broker.  The Licensee will not be entitled to a listing fee in the event that they are sold after he or she leaves, unless agreed upon by the Managing Broker.  Since all listings are the property of the office and not the Licensee, the Company has the right to reassign a listing if it is felt that the original Licensee is not servicing the listing properly.

     

    EXPIRED LISTINGS

     

              Information about a Seller may not be obtained from the MLS service as per local board rules.

 

CANCELLING A LISTING

 

All listings are the property of the Company, not the individual Licensee and therefore may not be cancelled without the written approval of Management.  Should a Seller wish to cancel a listing, the Licensee should discuss the details with the Managing Broker to determine how to proceed.

 

It is the policy of this Company that only Exclusive or MLS Listings may be processed for distribution or advertised.  If a party wishes you to take on a listing on an open basis, you can truthfully tell them that you cannot advertise it or give them the service they would normally receive if we had a listing contract.

 

When a listing is obtained, all information must be gathered immediately by the listing Licensee.  This includes obtaining the correct measurements of the lot, house and all rooms therein.  If the listing is residential, then the Licensee must measure the exterior of the house and COMPUTE THE SQUARE FOOTAGE MEASUREMENTS THEMSELVES.  If it is a relisting from another office, DO NOT TAKE THE MEASUREMENTS OFF THE ORIGINAL LISTING.  If the square footage or any listing information is incorrect, a buyer could make the claim of misrepresentation.

 

After the listing forms are completed and ALL OWNERS have signed it, turn it over to the administration for processing.  She will open a numbered a file which will contain all the pertinent information.  In addition, she will report the information to Real Pro Real Estate Services as required.  She will submit the listings to the Manager for approval and in the case of MLS listings, will ensure that they are forwarded to the required board.

 

It is now a requirement of MLS that all listings must be mailed or faxed to the Board office not later than 3 working (week) days after signatures are secured.  (Saturdays, Sundays and holidays excepted). A letter of appreciation will be sent to the Seller.

 

A visit of inspection should be arranged to follow the next business meeting so that all licensees will be immediately acquainted with the property. Partner and Licensees must keep a copy in their own file.

 

PURCHASE AND SALE BY LICENSEES

 

From time to time, Licensees may wish to buy or sell property for their own use or for investment purposes.  Under the Real Estate Services Act, a disclosure statement must accompany a Contract of Purchase and Sale at the time of the sale.  A file must be opened for any sale in which a Licensee is involved; regardless of whether or not it is a “private deal” and even if the Company is not participating in the commission.

 

The Company will waive most of the commission on the following basis: on the purchase and sale of a principal residence or of an investment property, a flat fee of $200.00 will be charged to cover office costs, plus any commissions payable to other agents, MLS fees, Real Pro Real Estate Services Inc. Management fees or any advertising costs.  This applies to the listing side only on the sale of a property by a Licensee for residential or investment purposes, and to the selling side only on the purchase of property for those purposes.  The exception lies in a case in which a Licensee lists and sells his own property.  In such a case, there will be a $200.00 processing fee for that transaction.  Licensees are not to dispose of properties as a “For Sale by Owner” but must list the property.

 

While the Company has no objection to Licensees buying and selling on their own behalf, the Company reserves the right to restrict this practice should it appear that the Licensee has a Real Estate license for that purpose of his own personal benefit.  Errors and Omissions do not cover purchases and sales by Licensees.

 

Disclosure to be made per Sec. 9-5, which applies to Licensees and their spouse/partner.

 

SALES TRANSACTION PROCEDURE

 

When a sale is made, the Licensee shall gather all relevant material on the property, fill out a Sales Record Sheet and pass all, with the deposit cheque, in for processing to administration.

 

Sales files and sales record sheets with assigned file numbers are required on every accepted offer, whether subject to or not and even if the transaction never completes.

 

Once the Administrator has this information, she will record the sale and send the required notification to both Real Pro Real Estate Services Inc. Management and board.

 

The subject condition dates, balance of cash dates and completion dates will be diarized by the Licensee to follow up on an as needed basis to provide a maximum of service.

 

Once the sale file is made up and the offer accepted, the administrator will complete the commission calculations.  Once the subject conditions are removed, or if there are no subject conditions, please advise the administrator in order that she may prepare the necessary documentation for delivery to the conveyancer.

 

Licensees must keep a duplicate file.

COLLAPSED SALE

 

Advise the Administrator if your sale is to collapse and provide the collapse paperwork and direction for commission release.  If there is a deposit on the file, it will be refunded provided that the proper procedure for deposit return is followed and original cheque written has cleared the bank. (10 to 15 days, depending on the financial institution).  Most collapses require an addendum signed by both parties agreeing to the collapse and authorizing the release of the deposit.

 

POSSESSION AND COMPLETIONS

 

No key or access shall be given to a purchaser prior to payout of the Seller’s proceeds.

 

CLOSED TRANSACTIONS

 

This Company maintains a filing system for all closed transactions, cross-referenced for ease in using.  These files are for reference only and under no circumstances, should the files be removed from the office nor should any of the papers in the files ever be removed.  Please remember that the contents are Confidential.

 

FEES OR OTHER REMUNERATION

 

Any funds or other Real Estate related remuneration received by a Licensee must be paid through the office.

 

 

COMMISSIONS

 

All commission earned will be paid into a trust account either at Real Pro or at the buyers solicitors office and held as a stake holder as per RESA rules.

 

  1. Schedule of Commissions

     

    This company renders a professional service for which we charge a professional fee in accordance with rates, rules and regulations periodically established by the Company.  The current company policy on commissions is outlined below:

     

    Residential

    MLS                  7% on first $100,000 and 3 or 4% on next 100k 2% on the balance Exclusive         6% on first $100,000 and 3 or 4% on the balance

    Builders           5.5% on first $100,000 and 3 or 4% on the balance

    Projects           As negotiated with Manager/Developer

     

    Lots

    Commercial    10%

    Residential      8%

     

    Buildings        

    Commercial    7% on first $100,000 and 3% on the balance

     

    Businesses

    All                     10% on first $100,000 and 6% on the balance

     

    Leases

    All                     10% of gross lease 1st year, 6% each year thereafter

     

    Mobile             7% or minimum $2,000

     

    Any deviation of these fees must be approved by Manager.

     

  2. Litigation

  1. Litigation regarding the payment or collection of any fees shall be at the sole discretion of Management.

     

  2. In the event and Errors & Omissions Insurance claim is triggered, the Licensee will be responsible for their deductible.  The company deductible will be shared on the same percentage basis as the commission received on the sale.

  3. Any legal fees will be shared on the same percentage basis as the commission received on the sale i.e. 70/30 Licensee would be responsible for 70% of the legal fees.

 

DEPOSITS

 

All Licensees are reminded that deposit cheques are, by law, closely regulated in their handling.  Each Real Estate office may be subject to an unscheduled audit by the Council.  Such audits have resulted in reprimands to Licensee and Brokers.  For these reasons, the Company has instituted the following procedures.

 

  1. General Guidelines

     

  1. All deposit cheques must be turned in to the Company immediately upon receipt.  Section 15 of the Real Estate Services Act provides that a Broker or a Licensee shall deliver trust funds received on behalf of a client to the Broker by whom he is engaged upon receipt and that a Broker shall, upon receipt, pay trust funds into his trust account.

 

  1. Deposits should be by way of certified cheque, bank draft or like security instrument and should be made payable to Real Pro Real Estate Services Inc. (In Trust).

 

  1.       When a deposit or any part of a deposit is by way of a post-dated cheque, it must be reflected in the Contract of Purchase and Sale.

 

  1.       In the event all or any portion of a forfeited deposit is retained by the Company, such monies shall be payable as if they were earned by the Licensee in a completed Real Estate transaction.

     

  2.       If cheque is returned NSF, the Seller (and Licensee) must be notified immediately.  Buyer will cover any bank charges.

 

  1. Return of Deposits

     

    The Licensee must not give any guarantees as to the disposition of the refund of a deposit until verified by Management.  No refund of a deposit will be released without the signatures of ALL parties to the Contract and the Managing Broker of all Real Estate Companies involved in the transaction.

 

  1. Upon Collapse of a Transaction

     

    A written release (i.e. “General Release of Monies” form), signed by all parties to the Contract, is required by the Company prior to any disbursements from the trust account.  Deposits by way of an uncertified cheque may not be returned until the uncertified cheque has cleared the banking system without recourse.

 

  1. Excess Deposit

 

When a deposit is taken which is in excess of the commission owing the Company, this excess amount will be disbursed, upon completion:

 

  1. to the conveyancing lawyer’s trust account; or

  2. to the Seller or Buyer in accordance with the statement of adjustments or as mutually agreed in writing (i.e., “Release of Excess Deposit” form).

 

  1. Term Deposits (Interest Bearing)

     

    Unless specified in the Contract of Purchase and Sales, deposits will not automatically be placed into interest bearing individual client trust accounts (term deposits).  For a deposit to be place into such an account, it must be stated in writing in the Contract of Purchase and Sale or Addendum as per Section 18 of the Act.

     

    COMMISSION DISPUTES

     

    It shall be a policy of this Company that no Licensee shall discuss a commission split with any of the principals in a Real Estate transaction.  If there is a difference of opinion in how any commission is to be divided, discussion of the difference shall be confined to the parties involved and the officers of the Company.  The most important part of our work is to see that any sale is developed and followed to its final and satisfactory conclusion.  Office disputes may be resolved by way of a Licensee Arbitration Committee.  Disputes with other offices will be handled by the local board Arbitration Committee.

     

     

     

     

       a.    MEDIATION

 

A dispute within the office will go to mediation as a first means of settling the dispute.  The mediation committee shall be comprised of a chair (appointed by the Manager) and 2 Licensees.  (Licensees’ Committee).  An attitude of a willingness to clear up the dispute will be necessary for the mediation to work.  Should the mediation fail, the matter will proceed to arbitration for a binding conclusion.

 

b.    ARBITRATION

 

(Internal)

Because of the competitive nature of the Real Estate industry and the Licensee within it, disputes and conflicts will occasionally arise which need to be resolved.  Any controversy between Licensees must be turned over immediately to the Manager of this office for Arbitration.  We all want harmony in the office.  It is the policy of this Company that disputes between Licensees may be settled by Mediation or Arbitration.  All personnel agree by virtue of their employment  to abide by the decisions.

 

(External)

The settlement of disputes with other companies follows the same rules and guidelines as mentioned for Internal disputes.  These will apply to any decision or dispute that has been settled by arbitration or the Ethics Committee of the local real estate board.

 

LOCK BOXES

 

All Realtors are required to buy lock boxes for their own use. 

Lock boxes on rental properties MUST have the consent of the tenants (preferably in writing).

 

KEYS

 

There is a box in the office in which some of the keys are kept for properties which are listed with the office.  If a key is removed, the Licensee removing same shall immediately mark on the envelope his/her name and date key removed.  All personnel will be required to return keys they have removed immediately after the showing and at the time of returning, cross of their name on the envelope.  Any Licensee from another office who is given the key shall have his/her name written on the envelope and the date he/she took the key.  He/she will be requested to return the key promptly after the showing.  Any Licensee using the key shall be required before leaving the home being shown, to leave his/her business card in a conspicuous spot so the owner or tenant will know who has been in the house.  They will further check that all doors and windows are securely fastened or locked.  Since our possession of these keys represents a major responsibility that we have assumed, continued carelessness in leaving the door of a property unlocked will be grounds for dismissal.

 

PROPERTY BOARDS

 

To increase exposure, you are encouraged to do a property board for each listing.  Give board to front staff for placement in front window.

 

SIGNS

 

The Company will order name stickers for the Licensee to be used on our standard signs.  Licensee can leave instructions in the sign order book which is kept at the front desk for signs to be installed or removed.  Name stickers are paid for by the Licensee.  Should a Licensee require special signs for Commercial Property, acreage etc., they can be ordered through a local sign company and paid for by the Licensee.

 

Partners/Licensees are required to keep a check on their signs and when an offer has been accepted and the subject conditions have been satisfied, the listing Sales Representative is to then place a “Sold” sticker on their signs.  SOLD stickers, because of their tendency to remove paint from the sign, are to be placed on posts.  Stapling them on assists.  Signs will be removed automatically upon completion but expires and cancellations need to be ordered down.

 

Coroplast Signs

Are provided at the Licensees expense.  They have a section for one name sticker.  They are used in trees, on fences and buildings.  Sold stickers can be put on them upon a sale.  They should be removed after sufficient exposure after a sale.

 

 

              Hanging Signs

consist of a post and hanging board, which are supplied at no charge.  The installation fee, which includes take down and repair, is charged on a monthly basis.  There is one place on each side of the board for a name sticker.  Split listings have a different name on each side.  Stickers such as “Sold” or information stickers such as “Waterfront” are to be placed on the post only.  Stapling works well instead of relying on the glue on the back of the sticker.  

 

These signs provide tremendous exposure and consequently are important to have removed at the proper time before it appears that they have been forgotten.  Just prior to the possession is ideal.

 

Condo Signs

Are the responsibility of the Licensee.

 

Commercial Signs

Can be purchased.  Sign management is a part of all Licensees’ various activities in the marketing of property.  Get them up, keep them straight, mark them “Sold” and retrieve them or order them retrieved.

 

CAR SIGNS

Real Pro Real Estate Services Inc. car signs are a great tool and should be used by all Licensees who desire maximum exposure.

 

AUTOMOBILE INSURANCE

Each Licensee must supply his/her own automobile and pay all expenses thereof.  Licensees are reminded that because their vehicle is used for business purposes, it is required that this is reflected in their liability coverage.  Minimum $2 million liability insurance.

 

OFFICE APPEARANCE AND SECURITY

 

  1. Tidiness

    Licensees are responsible for the office and for their own personal workspace.

 

  1. Reception Area

    Whenever possible, clients should be taken to interview rooms rather than discuss business in the reception or other office areas.  It is intended that the reception area be kept clear except for clients who are waiting for their appointment.

 

 

  1. Client Room

    The Client Room is for business with clients.  Please respect each other’s needs and ensure the room is tidy for the next person.

 

  1. Privacy

    Licensees should respect the privacy of other Licensees by avoiding the interruptions of private interviews.  Use the phone if a “break in” is absolutely necessary.

 

  1. Alcohol/Controlled Substances

    Stay away from the office and customers when drinking.  Consumption of alcohol and/or drugs during regular business hours in any portion of the office is prohibited.

 

  1. Smoking

    Our building is a “Non Smoking” workplace.

 

  1. Security

    No outside personnel, especially Licensees from other companies are permitted beyond the reception area or client room.  Conversations are to take place either in the client room or in your office.

 

  1. Office Keys

    Always double check to ensure that lights are turned off and the office is secured.  This is to be done if you are last to leave or if you suspect that you are the last to leave the premises.  Office keys should always be kept in your possession and not loaned to any other person.

     

    COMMUNICATION

     

  1. General:

Whenever a Licensee leaves and/or returns to the office during working hours, it is critical that they notify the Front End staff by marking in on the IN/OUT board. 

        Consistent use of this board allows the receptionist to efficiently and effectively handle              

        all calls.

 


  1. Telephone Use

        Avoid poor public impressions and many frayed nerves by following these instructions:

when the phone rings, the secretary is to answer.  On rare occasions, should it be necessary, a Licensee could be expected to answer the switchboard, when answering please say “Real Pro Real Estate Services” and give your name if you wish.  If the call is for someone else, then check to see if that person is in and, if so, ring the appropriate office.  If the person is not in ask if the Licensee can be paged or if they would like to leave a message;

Personal calls should be restricted to those necessary and should be kept as short as  possible.  This applies to both incoming and outgoing calls.  Lines must be kept open for business calls;

 

Each Licensee will be assigned a toll billing number and may use their number for all  long distance calls out of the office. Use in house numbers when calling for fellow realtors.

 

Long Distance Toll Free number may be used by our customers.  The bill is shared by all Licensees equally.

 

  1. Change of Address

        In order to maintain complete office records, all Licensees must immediately notify the administration office of any change in address or phone number.

 

UNLICENSED ASSISTANTS

 

Assistants will not be provided with a desk of their own but may use the desk of the Licensee

who has hired them.

 

The employing Realtors should instruct their assistants that they do not work for the company and as such are not entitled to any benefits (i.e. party fund, coffee, Christmas Party) unless paid for by the Employing Realtor, nor does the staff of Real Pro Real Estate Services Inc. work for the assistants.

 

Each assistant will be asked to read and sign a copy of permitted activities for the Real Estate Services Act which will be kept on file by the Managing Broker.  Any violations or permitted duties will result in a request to the Employing Realtor for immediate dismissal of the assistant.

 

Manager’s approval of assistant candidate is required.

 

LICENSED ASSISTANTS

 

All business conducted will be done in the name of the Employing Realtor.

 

Desk fees will be in accordance with the Real Pro Real Estate Services Inc. Commission Policy.

 

The employing Realtor is responsible for all fees, costs, etc.  Must be members of the local board and Real Pro Real Estate Services Inc.

 

 

 

SUGGESTIONS AND RECOMMENDATIONS

 

To maintain a professional, harmonious atmosphere in the office any licensee or partner that is unhappy with some aspect of the Company or its operations should discuss suggestions, recommendations or complaints solely with the Manager.

 

TERMINATION/RESIGNATION

 

It is the policy of the Company to have any termination/resignation be as pleasant and dignified as possible.  To this end, the following will apply:

 

  1. Any Licensee terminating/resigning from the Company to work for another company shall henceforth be considered a competitor and, as such will be subject to the same limits and restrictions as all competitors.

 

  1. It is the intention of the Company and its Licensee to work together as a team in a mutually beneficial manner.  Where a Licensee is terminated or resigns, any commissions which have been received will be paid on their regular split at the time the contract was written.

 

OTHER NOTES

 

The Commission Policy and Cost Sharing Plan are under separate cover.

 

The Multiple Listing Service Policy, rules and regulations form part of our Company guidelines.

 

The C.R.E.A Code of Ethics forms part of our Company guidelines.

 

The C.R.E.A Standards of Business Practice forms part of our Company guidelines.

 


 


Schedule A

 

Business Platform & Profit Sharing Guide

RealPro Real Estate Services is creating for the first time ever a real estate company with a business environment which gives back net profits to the Partners  in the company.  This type of business environment will be instrumental in assisting individuals in advancing their personal real estate sales careers and encourage personal development and growth.  Realpro will also promote real estate development and personal growth to enable our shareholders to obtain personal and corporate holdings in residential and commercial real estate ownership through a RealPro Partnership and thoughtful planning by all of our partners together.


Junior Partner

A “Junior Partner” shall be defined as anyone who has less than 2 years experience in the real estate sales industry.  Commission/fee splits shall be 90% to the Junior Partner and 10% to the company up to $75,000 in gross commission income.  After $75,000 in gross commission income is earned the Junior Partner shall earn 100% of his/her commission and pay $125.00 per real estate transaction as an administration fee.  At the end of each partner’s full year in the business the splits shall return to 90/10 for the second year. There shall be a franchise fee of $200.00 per month paid to RealPro Real Estate Services. 

A Junior Partner shall have a half (½) share of net company profits.  Any Junior Partner shall advance to Senior Partner level once they have earned commissions in excess of $100,000 in one year or been in the real estate business for five years.

Senior Partner

A “Senior Partner” shall be defined as anyone who has more than 5 years experience in the real estate sales industry.  Commission/fee splits shall be 95% to the Senior Partner and 5% to the company up to $100,000 in gross commission income.  After $100,000 in gross commission income has been earned the Senior Partner shall pay $125.00 per real estate transaction as an administration fee. A Senior Partner shall have a one full share (1) in the company.  At the end of each partner’s full year in the business the splits shall return to 95/5 for the following new year.  There shall be a franchise fee of $200.00 per month paid to RealPro Real Estate Services. 


Profit Sharing

Any “Net Income” earned after corporate taxes and business expenses by Real Pro Real Estate Services Inc “the company” shall be split amongst the Junior & Senior Partners as per their current contributions into the company. The individual partners share of the net income shall be determined by the gross commissions the partner brought into the company divided into the total gross commissions earned by the company in total.  Example: If a partner earns $100,000 in commissions and the gross commissions to the company are $500,000 a senior partner would earn 20% of the Net Income


 Annual Shareholders Meeting

Realpro Real Estate Services shall have an Annual Partners meeting where an annual budget shall be created by the then current office manager or senior partner  that supports the goals and aspirations of the company and its partners.  A meeting prior to the Annual Partners  meeting shall be held whereby partners can present their ideas for the direction of the company for the coming year.  All meetings shall be conducted and shall follow Roberts Rules of Order.  All partners  present shall have one vote and minutes of the meeting shall be kept on record.


Future Development Fund

1% of all commission earned shall go into a future development fund.  This shall be reviewed annually and the company shall keep a running account as to how much each partner as contributed to the fund.  This amount is to go towards development of the company or real estate investments as decided by majority vote at the annual general meeting.

The future development fund is non refundable and shall be forfeited should the partner decide to leave Realpro Real Estate Services Inc.  


Termination or Leave from the company

Should any partner no matter whether they are a Junior or Senior partner decide to terminate his/her employment, licensing or association with the company no share or portion of any profits shall be paid out to that partner.  Shares in RealPro Real Estate Services Inc will have no monetary value and may not be sold to any other party or to another partner within the company.  To participate in any profit sharing you “Must” remain an active partner within RealPro Real Estate Services Inc and remain licensed.  Active partners must be licensed and active in the real estate business.