Agent Comp Plans*:
Option 1: 8% of 3% of the Gross sales price commission with a $25,000 annual cap. (Average is about 15 closed transactions per year)
Option 2: $750 per transaction with a monthly minimum of one transaction. No annual cap. Each month without a transaction fee transfers to the next month and compounds until the next funding and all months fee of $750 are collected.
Minimum Transaction fee per transaction side is $750
E&O Fee = $165 per each side of the transaction. E&O fee continues on all transactions even after cap is met.
Real Estate Transaction caps are separate from Loan commission caps if doing both Loans and Real Estate.
Referrals to another company are 10% of commission to broker.
LO Comp Plans*:
Option 1: 8% of 1.5% comp plan lender or buyer paid with a $25,000 annual cap. (Average is 3 $400,000 loans per month to reach this cap)
Option 2: $750 per transaction with a monthly minimum of one transaction. No annual cap. Each month without a transaction compounds into the next month until $800 is collected per month.
E&O Fee = $165 per each side of the transaction. E&O fee continues on all transactions even after cap is met.
Minimum Transaction fee is $750
Loan commission caps are separate from Real Estate transaction caps if doing both Loans and Real Estate.
Team Building / Branch Comp Plan*:
All terms and conditions of the above plans apply except:
Reduced comp plans from above plans based on the size of your team.
Your Comp can get to 100% based on your overall growth and size of your team.
Build and manage your team and comp plans for your team members
The following conditions apply to all programs:
1. Net Commission = The commission after any fees, penalties, TC, legal costs, damages, fines or anything else included or caused by the transaction. Broker reserves the right to not proceed with a transaction or charge any appropriate fee. Gross Commission = The Commission paid before any fees. Gross Sales Price = The contracted sales price of the property or appraised price, whichever is higher.
2. All Loan Officers, Associate-Licensees or Associate-Brokers with the Cal Mutual, agree to pay all the above fees and charges. Cal Mutual and the Broker reserves the right to change, alter, cancel, amend the terms of the fee agreement for all independent contractors without notice. All such changes shall be applied immediately and are fully binding. All contracts are renewed annually.
3. If at any time a transaction requires the broker to be involved the commission becomes 50/50 of the net commission. In the event the Broker must complete any transaction then the full transaction commission becomes the brokers possession and will be used to cover Broker fees and expenses. If expenses caused by the actions of the agent, broker-associate or Loan Officer are incurred above the full commission collected then that individual must indemnify the broker and reimburse Cal Mutual for all fees including damages and legal fees. Per C.A.R. ICA-with Arbitration Agreement.
4. Personal, Friends and Family loans and Real Estate transactions fall under the same compensation programs as all transactions.
5. All risk management claims are subject to Broker's approval and insurance underwriter. Claims are not guaranteed protection.
6. If originating loans the contractor must be BOTH DRE Licensed and NMLS Endorsed.
7. Minimum Transaction fee per any transaction side is $800
8. We do not allow or offer: Property Management, rentals or leasing (short or long term) and credit repair or any other credit services.
9. All real estate agent and loan officer positions with Cal Mutual are strictly Independent Contractor opportunities.
10. All plans are require one closing per month. If in any given month the agent or LO does not close a transaction then the minimum $750 is carried over to the next closing. This continues month to month compounding until the next closing. Upon that closing all prior months with no closing will be collected in that closing.
*All Positions are Independent Contractors: Contractor hereby contracts with Cal Mutual to act as an independent contractor in the capacity of a Real Estate agent and/or loan officer or Team / Branch Leader. Accordingly, Contractor will not be treated as an employee of Cal Mutual for Federal or State Tax purposes, disability, workers compensation, insurance, retirement, legal representation or for any other reason. Contractor fully understands they are 100% an independent contractor for every purpose of the work performed and have no employee rights under the protection of Cal Mutual. Contractor fully indemnifies Cal Mutual for any damages brought on to Cal Mutual for any of their practices or actions. In no way, under ANY circumstances does Cal Mutual Indemnify the contractor at any time for anything.