«
On the commercial
side it gets a little more difficult in
terms of being able to provide electronic
transactions,» says Mike O'Neill, vice president
of electronic commerce at Chicago Title.
The Irvine, Calif. - based franchisor has selected 10 agents, all 35 years old or younger, to serve a two - year
term on the «REthink Council,» from a pool
of more than 40 applicants, based
on their ideas and proficiency —
transaction sides, sales volume and awards.
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.