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BROKER PARTICIPATION POLICY
Sabal Homes of Florida, Inc. (Sabal) welcomes participating Brokers/Agents and will pay a real estate commission of the Total Purchase Price noted in Paragraph 2 of the Agreement for Sale and Purchase less any MLS listing fees for a new home purchased by a participating Broker/Agent’s “Registered Client” subject to the following conditions being met:
1. Time of Payment: The commission shall be paid at the closing or in the case of a pre-sold home purchased using Construction/Permanent Financing by the Purchaser, at the time of slab pouring. No commission shall be due unless closing actually occurs.
2. Registration: In order for a Broker/Agent to be entitled to a commission, the Broker/Agent’s client must be “registered” with Sabal as a “Registered Client”. Registration as a “Registered Client” is a two-step process. It requires:
(i) this Participation Policy Form signed by the Broker/Agent and
(ii) completion of the Sabal Homes Visitor Survey by the client and/or the Broker/Agent on behalf of the client. If either of these two steps is not fully completed and if this Broker Participation Policy Form is not delivered to a Sabal New Home Representative, the client will not be considered a “Registered Client”. These forms must be completed by personally visiting the Sabal Model Center. Sales assistants, secretaries, or other Sabal personnel are not authorized to accept these forms.
3. Registration Expiration: A “registration” shall automatically expire 30 days from the date this Broker Participation Policy is signed by the Broker/Agent (as indicated below). Upon expiration, the client named below will no longer be considered a “Registered Client” unless the Broker/Agent “re-registers” that client by again completing the process described above.
4. Site Visitation: In order for a Florida licensed Broker/Agent to be entitled to a commission, the Broker/Agent must visit Sabal Model Center with the Registered Client at least once during the sales process, prior to the Homesite Reservation and/or deposit being received and prior to contract signing. During that visit the Broker/Agent must meet personally with a Sabal New Home Representative. If the Florida licensed participating Broker/Agent fails to do so, the client has not been properly registered and no commission will be paid with respect to the Client.
5. Competing Registrations: Sabal will not have any obligation to prevent different Broker/Agents from registering the same client. If more than one Broker/Agent registers the same client at different times, none of them shall be entitled to receive a commission or any other fee from Sabal unless and until Sabal is furnished one of the following items
(a) a written agreement between the two registering Broker/ Agents as to who is entitled to the commission;
(b) a written ruling from the Florida Real Estate Commission as to who is entitled to the commission; or
(c) the final judgment from a court having competent jurisdiction over the registering Broker/Agents as to who is entitled to the commission. Until Sabal receives one of the foregoing items, Sabal shall be entitled to retain the commission in its own account or in the account of the title company handling the closing. Neither of the Broker/Agents shall be entitled to any interest on the commission until 60 days after Sabal has been furnished one of the foregoing items.
The undersigned Broker/Agents acknowledges receipt of this policy and agrees to abide by its terms.
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