There appear to be no likely imminent changes for section 3508, the provision in the tax law that
provides qualified real estate agents (among others) with a statutory classification as independent contractors.
The best way to build a business is through
providing an excellent experience from beginning to end, earning more referrals from
real estate agents who are happy to include
qualified WIN professionals in their clients» buying process.
A
real estate agent is generally not
qualified to discover defects or evaluate the physical condition of property; however, a
real estate agent can assist a buyer in finding
qualified inspectors and
provide the buyer with documents and other resources containing vital information about a prospective new home.
ReferralExchange.com shall, within a reasonable period of time following receipt of the applicable Commission, promptly pay to Referring
Agent an amount equal to a maximum of twenty - five percent (25 %) of the gross referred side commission calculated on a minimum of two percent (2 %) gross sale price prior to any allocation of a payment to another party (including but not limited to any split between
Agent and
Agent's broker and any referral fee payments to other third parties), or up to a maximum of seventy - one and four - tenths of one percent (71.4 %) of the amount actually received and recognized by ReferralExchange.com, after each of the following have occurred: (a) the Customer referred by Referring
Agent becomes part of ReferralExchange.com's referral network, (b) such
Qualified Customer completes a
Qualified Transaction, and (c) such
Qualified Transaction results in a Commission paid to ReferralExchange.com;
provided, however, that ReferralExchange.com shall not be required to make any payment to Referring
Agent if Referring
Agent is in breach of these
Agent Terms at the time of such payment, or if such payment is prohibited by law, including but not limited to instances in which Referring
Agent is not an actively licensed
real estate sales
agent or broker at the time payment is to be made.