2019 POLICY & PROCEDURE MANUAL - NAID NUMBER FOR HUD OFFERS: #TRZLLC2588 COMPANY TAX ID NUMBER: #46-4462588 - RE/MAX Precision
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2019 POLICY & PROCEDURE MANUAL
NAID NUMBER FOR HUD OFFERS: #TRZLLC2588
COMPANY TAX ID NUMBER: #46-4462588
UPDATED JANUARY 2019
1I. WELCOME
On behalf of the management and staff of RE/MAX Precision, we would like to thank you for choosing to be a part of our
team. We are happy to have you with us and we wish you many years of prosperity and growth with our company. If
there is anything we can do to assist you, please do not hesitate to ask us as we are here to serve you.
CORPORATE CHARTER
Our Enduring Purpose
To empower others to lead extraordinary and inspired lives.
Our Future Focus
To create and sustain a fun, empowering, exciting and high-energy working environment…centered on personal growth.
To provide unsurpassed personal and professional development and guidance.
Our Timeless Values: Who We Are
We are an attractive company operated by productive, curious, high-energy, ego-free, competent, extraordinarily inspired,
integrity powered leaders committed to the success of the people we serve.
Our Guiding Principles: What We Know
As we grow, new challenges will arrive. These challenges are testing our commitment and will ultimately strengthen us.
Success is not something to be pursued…it is something to be attracted by who we become.
We will not always do things right…however, we will always do the right thing.
Values are critical to our success. When values are absent, the structure is unstable and incomplete.
Our Operational Practices: What We Do
We employ fun, smart, exciting, competent and extraordinary self-starters.
We work together as a “single” world-class team. This is our competitive edge.
We encourage self-fulfillment through personal development.
We build people up by recognizing their accomplishments.
We live with unyielding integrity, are impeccable with our word, and have no regrets.
We have a passion for excellence…and an amazing attention to detail.
We amaze our clients… not just satisfy them.
We pursue simplicity and recognize that everything can be simplified, eliminated or improved.
THE PROMISE
We promise to be true to our enduring purpose, make every possible effort to
achieve our future focus and take consistent action in line with our values,
guiding principles and operational practices
2FOREWORD
RE/MAX Precision participates in an Affirmative Marketing Agreement and does not tolerate discrimination in any form.
Each agent is encouraged to stay abreast of the latest changes or additions to the laws and should actively take part in
Fair Housing continuing education classes.
II. GENERAL OFFICE PROCEDURES
INTRODUCTION TO RE/MAX PRECISION
RE/MAX Precision is a team organization. We stress the need for a harmonious atmosphere within our sales
organization.
We believe the blend of a positive attitude, good production and knowledgeable agents sharing and working together is
paramount to a successful, high-producing sales team. We will accept only those agents that fit these parameters. This
blend of people guarantees the maximum benefits of operating under the RE/MAX system.
BROKER/MANAGER
To organize and operate the real estate office within the general confines of the RE/MAX Policy and Procedures Manual
and Office Guidelines. Authorized to work with all agents and staff as he/she sees fit.
Regular functions:
• Respond to agent questions and problems regarding both real estate and personal issues
• Recruitment and retention of agents
• Review files (listings/sales) and approve documents for accuracy and completion, as necessary
• Respond to customer complaints
• Meet with suppliers/advertising people
• Supervision of staff members
• Resolve interoffice disputes
• Help plan and conduct meetings and agent training sessions
• Implementation of office tools and systems
• Day-to-day office operations, as necessary
• Assist in planning and execution of special events, as necessary
• Insure that the company’s firm/brokerage license is never in jeopardy
RE/MAX AGENT
As a RE/MAX agent you are responsible for representing the office by adhering to the RE/MAX Precision Policies and
Procedures Manual and Office Guidelines.
LISTING AGENT
Regular functions:
• Submit all Listing files for review in Dotloop for immediate processing by Support Staff
• All listings and sales, once contracted, must be turned in within 48 hours per local board rules or you run the risk
of a fine. All Seller contact information must be present on the listing contract for emergency purposes
and access by the Broker. Please submit a RE/MAX Precision sales worksheet along with the complete
purchase agreement, Agency form(s), earnest money and all applicable disclosures
• NOTE: 193E Iowa Administrative Code 13.5 (1) & (2) states that faxed contracts and documents in which
the language is unreadable are not acceptable records and must be redrafted and signed by the parties.
• Locate abstract and communicate its location or deliver to transaction coordinator/closer
• Arrange access to property for termite/pest inspector and appraiser
• Initiate contact with Seller to obtain information necessary to prepare title clearing documents
• Responsible for obtaining all necessary signatures and acknowledgements on closing documents required of the
Seller or on the Seller’s behalf
• Return executed closing documents to the Selling Agent for delivery to the settlement agent, which may be the
Buyer’s lender or an attorney’s office
• Arrange delivery of Seller’s proceeds check
3SELLING AGENT
Regular functions:
• Submit all Sale files for review in Dotloop for immediate processing by Support Staff
• Follow the appraisal and Buyer approval process with the lender to be certain details are handled on a timely
basis
• Arrange access to property for any required home inspections
• Initiate contact with Buyer to obtain information necessary to prepare title clearing documents
• Responsible for obtaining all necessary signatures and acknowledgements on closing documents required of the
Buyer and on the Buyer’s behalf
• Attend final walk-thru prior to closing with Buyer
• Assist settlement agent, if necessary, in the delivery of proceeds and commission from Buyer’s lender
SUPPORT STAFF
Support personnel are an integral part of our business and their help is invaluable. We ask that you always treat them
as you would expect to be treated yourself.
Branch Office Coordinator (“BOC”) and Listing Input Specialist regular functions:
• Answer phones, direct calls to the appropriate person
• Order office supplies and assist in arrangements for maintenance of company equipment and offices
• Input listing changes and sale information on MLS upon receipt of proper documentation
• Support management team and closers, as requested
• Day-to-day office operations
Office Closer/Transaction Coordinator Regular functions:
• Input changes and sale information on MLS upon receipt of proper documentation
• Process and approve sale documents submitted for review in DotLoop
• Facilitate transaction closings by ordering abstracting, termite inspections, mortgage payoffs, home warranties
and as requested per the contract and lender instructions
• Communicate with Agents, lenders and attorneys to assist in clearing title objections
• Arrange for preparation of closing documents, as necessary
• Processing of commission checks and earnest money checks
• Support management team and other Support Staff, as requested
• Day-to-day office operations
Office Accountant/Bookkeeper regular functions:
• Handles all company accounting and reconciliation of trust accounting
• Prepares agent monthly expense invoices/reports
• Assist in generating commission reports (pending/closed transactions) for agents
• Processing of commission checks and earnest money checks
• Support management team and other Support Staff, as requested
• Day-to-day office operations
Business Development Manager regular functions:
• Agent management, personal development, recruitment and retention of agents
• Business development and office acquisition
• Help plan and conduct meetings and agent training sessions
• Make calls to potential recruits in an effort to grow team and create awareness of the company
• Schedule/facilitate and help prepare paperwork for recruiting appointments
• Attend events and meetings to develop relationships with potential recruits
• Assist in planning and execution of special events
• Day-to-day office operations
Director of Operations regular functions:
• Agent management and personal development
• Implementation of office tools and systems for the company
• Company and individual training and retention
• Help prepare paperwork for recruiting appointments
• Assist in planning and execution of special events
4• Day-to-day office operations
SALES MEETINGS AND OFFICE TRAINING
As Broker, we can not make sales meetings and/or training sessions mandatory; however, attendance is strongly
encouraged. As much as possible, these meetings and sessions will be informative and we will be respectful of your time.
They are beneficial to your business and allow for networking with other agents within the company.
BROKER/MANAGER YEARLY MEETINGS AND AGENT REVIEWS
Annual meetings will be held with the broker/manager or another member of the management team to review agent
profiles, discuss what the company can do to help them build their personal business, discuss any questions or concerns
they may have and to visit about agent goals. If an agent so chooses, these meetings can be held more frequently to help
hold them accountable and on-track to reach their personal goals.
THE AGENT CAFÉ
This in an informal gathering every Wednesday morning at 9:00am in Ankeny or Altoona. Coffee, hot chocolate, tea or
bring your own. Casually discuss topics of interest, learn from others or just catch up on the week's activities. At 10:00am,
those that are able will head out on Ankeny or Altoona’s Agent Tour.
MONTHLY OFFICE CALENDAR
A monthly office calendar is available online and accessible via the Agent Portal. This calendar will include notifications of
any office meetings, scheduled training opportunities, Agent Advisory Committee meetings and management team
meetings. Link: http://www.precisiondsm.com/agentportal/ Password: Precision2017!
AGENT ADVISORY COMMITTEE
The Agent Advisory Committee is a committee of 10 elected by fellow agents that meet on the second Tuesday of each
month. The committee will serve a one-year term and will be subject to a new vote each November. The elected
committee will be announced in December and their term will begin in January of the coming year. If an agent on the
Agent Advisory Committee leaves the company for any reason, that branch will elect a new representative at that time.
The committee will act as a liaison between the management team and agents. They will help research and implement
new programs, improve company systems and act as a “voice” for agents in regard to items under consideration by the
management team. Meetings will be held on a monthly basis or as determined by committee members.
IMPORTANT NOTE: The formation of this committee does NOT remove the individual agent’s right to discuss their ideas,
questions or concerns directly with a broker/manager or any other member of the management team.
OFFICE ENTRY PROCEDURES
The Altoona, Ankeny and Clive offices can be accessed using an electronic key card. All new agents will be issued a
key card upon successful completion of all appropriate ICA contracts. If a key card is misplaced or stolen, the
broker/manager must be notified immediately so as to deactivate the card. All replacement cards will be billed to the
agent in the amount of $20.00. These replacement charges are non-refundable.
For entry to the Des Moines office after-hours, the code to the building entrance is #10611. Once inside the building,
there the code to gain access our suite is #9999 (to lock door press “Lock”).
After-hours entry to the Winterset office can be obtained by using the key in the contractor’s box on the East side door of
the office. The code for the contractor’s box is #0922.
After-hours entry to the Grimes office can be obtained by using the key in the contractor’s lockbox on the back door of the
building. The code for the contractor’s box is 1234.
ERRORS AND OMISSIONS INSURANCE: BROKER’S POLICY
RE/MAX Precision has a Broker E & O Insurance policy with Capital Professional Insurance Managers, Inc. All licensees
operating under our brokerage have $1 Million in coverage (with a $2,500 deductible) per claim under this policy and are
not required to have individual coverage. If you believe that you may be party to a potential lawsuit, please notify a
Broker/Manager immediately.
Capital Professional Insurance Managers, Inc. Policy #RFB1-9423083-6-19
7501 Wisconsin Avenue, Ste 1500E Office #301.986.6800
5Bethesda, Maryland 20814 Fax #301.986.6805
OFFICE AND DRESS APPEARANCE
Please assist in maintaining a professional atmosphere in the office. We request that when you are in the office, you
dress in a manner conducive to meeting the public.
You are encouraged to hang your plaques, pictures, awards or anything to make you feel more comfortable in your
surroundings. However, we request that you do not hang any unframed posters, tack up calendars, announcements or
other items directly on the wall. The painting of private offices is permitted upon approval by a Broker/Manager and must
be of a neutral color in line with the office décor. In addition, it is not permitted to post things of a discriminatory or sexist
manner. Upon termination, the agent is responsible for returning his/her office to the condition it was in when he/she
moved in. While we will make every effort to protect all property, the office is not responsible for personal
computers or other personal items when brought into the office.
SMOKING
Each office is a “No Smoking” office. Smoking will be permitted in designated areas only.
CLIENTS IN THE OFFICE
Never discuss homes or business with another agent’s client. Please do not ask them what kind of house they are looking
for and do not mention that you have seen such-and-such a house that they would just love. If you want to tell the agent
about a house, do it away from the client.
VOICE IN MANAGEMENT
One of the most important benefits to both the Broker and the agent is the agent’s right to participate in the decision
making process of some of the company’s decisions.
Management retains final authority to control ethics, salaried employees’ pay increases, conduct, hiring, firing, etc., as in
all companies. The company has also established certain minimum standards that cannot be changed. They are items
such as company standards for printing, signs, trademarks, management fees, etc.
The general areas that an agent has a voice in are:
a. Company functions: Agents are encouraged to participate in determining some company functions such as meetings,
tours, duty schedules, parties, etc.
b. Company expenses: Agents may occasionally be asked to help determine some expenses such as generic group
advertising, charitable donations and sponsorships.
c. Company goals: We need you to help us succeed. Your ideas on goals and expansion programs are very important to
us.
OFFICE WIRELESS INTERNET (WIFI)
All of our offices have wireless internet available for use by agents and their clients. The information needed to access
the wireless internet is as follows:
Altoona: SSID Remax Altoona Des Moines: SSID NETGEAR55
Password abovethecrowd Password cleversparrow471
Ankeny: SSID ReMax-Precision Clive: SSID Remax Private
Password remax2016 Password R3@maxW!f!
Guest ReMax-Guest
Password abovethecrowd Winterset SSID REMAX
Password jefferson1
III. OFFICE EXPENSES / FEES
MONTHLY STATEMENTS
Agent Expense statements will be provided on the last day of each month via email and are due and payable on the 5th of
the following month. If they are received on the 10th of the following month, they are considered delinquent and late fees
will be added to the agent’s statement according to the ICA.
Personal expenses: Personal expenses are charges for items and services used by the individual agent. Some examples
of personal expenses are: personal advertising, courier fees, photocopies. Any expense which is self-generated is a
personal expense and will appear on the monthly statement.
6AGENTS HAVING DELINQUENT OFFICE BILLS WILL HAVE THAT AMOUNT DEDUCTED FROM THEIR NEXT
EARNED COMMISION, PER THE ICA.
WITHHOLDING TAXES AND SOCIAL SECURITY
The Federal Internal Revenue Service has rules that govern a real estate agent who is an independent contractor.
Hence, it is necessary that the agent file and pay income tax and social security as an independent business person.
Because of the high earnings of most of our agents, it will generally be necessary for the agent to file quarterly. It is
recommended that each agent hire a competent tax consultant. The company will provide each agent with an annual
statement of earnings (1099 MISC). The company cannot deduct withholding from commissions.
ANNUAL EARNINGS
As mentioned above, the company will provide each agent with an annual statement of earnings (1099 MISC). The
Broker Service Fee of 5% is considered income for RE/MAX Precision; therefore, the agent will not be issued a 1099
MISC for that annual amount.
IV. THE BUSINESS OF SELLING
INDEPENDENT CONTRACTOR AGREEMENT
You are considered an independent contractor; therefore, it is important that you read and understand the terms and
conditions of the Independent Contractor Agreement (ICA).
In addition, because you are an independent contractor, RE/MAX cannot not provide any kind of agent insurance
coverage. It is your obligation to secure automobile liability and general liability coverage with the limits outlined in the
ICA. Proof of automobile insurance coverage is required to be on file with management at all times.
The Company’s insurance does not cover the loss of agents’ personal belongings in the office. You should check with
your insurance agent to get coverage for your losses. Upon joining our office, you will automatically be placed upon the
company’s errors and omissions insurance policy with Capital Professional Managers Insurance Company, Inc.
DECLARATION OF AGENCY
RE/MAX Precision is currently designated as an “APPOINTED Agency Office” with our local board, Des Moines
Area Association of Realtors. Please contact a Broker/Manager if you have any questions regarding this
important policy and how it impacts your business practices.
PERSONAL ADVERTISING
Personal branding and advertising of listings are the responsibility and expense of the agent.
In the interest of the RE/MAX image at both the local and national levels, all materials and statements which are meant for
public consumption should conform to RE/MAX quality control standards, as defined and illustrated in the RE/MAX Brand
Identity Standards. This manual is available on the Agent Portal under Downloads.
All ads must meet truth-in-lending requirements.
All personal printing expenses should be billed directly to the agent, not through the office.
All signs must be approved by the broker/manager or another member of the management team.
REFERRALS
The RE/MAX referral system is designed for ease and efficiency.
For an outgoing referral to an area where there is a RE/MAX office, call directly to that office and place the referral. The
referral fee is negotiable between agents. If the referral is going to an area where there is no RE/MAX office, a toll-free
call to RE/MAX, LLC will give you the name of a preferred brokerage for that area. Call that office directly and make the
referral arrangement. Confirm your referral in writing by using the RE/MAX Referral Form printed in the annual RE/MAX
roster or the referral agreement provided with the forms.
7If a referral comes into the office without the name of an agent, it is distributed by the broker/manager.
When a referral is established, either outgoing or incoming, make sure that the referral commission is agreed to in
advance in writing. For your protection, it is important that a referral form be completed and that a copy be filed with our
closing department so that when the check comes in, it goes to the proper agent.
All referrals paid out by an Iowa brokerage must be disclosed to the client using the Iowa Referral Disclosure form
(applicable to 1-4 dwelling units). If you refer a client to an out-of-state licensee, their state licensing laws will govern
since they are paying RE/MAX Precision. NOTE: This form is available in DotLoop under IA-Referral Disclosure.
All referral commission checks must be issued between companies rather than between agents. No agent can pay a
commission directly to another agent, whether it’s a RE/MAX agent or an outside agent. Referrals accepted by an agent
may bind the company to pay a referral fee, no matter who sells the house.
TRZ, LLC. (d/b/a RE/MAX Precision) is our licensing entity and the tax identification number as requested on referral
paperwork is #46-4462588.
COMMISSION DISCUSSIONS
What commission we charge as a brokerage is never to be discussed with agents from other offices as this violates FTC
antitrust laws. Agent-to-agent agreements are not valid or ethical.
LISTINGS
Each agent is responsible for preparing an accurate and factual listing agreement. Include in the listing agreement, only
information that is known to be accurate per the county assessor’s page. Even though the MLS listing carries the
disclaimer statement that the information is not guaranteed, the agent is not absolved of inaccuracies or fraud. Be factual.
Limit opinions. The Seller contact information must also be present on the contract for emergency purposes and
access by the brokerage.
Changes in price, terms, expiration date or other contractual information must be in writing. Do not ask the office staff to
change contractual information on the MLS prior to providing this documentation in writing and signed by the Seller for the
listing file. Unless an agent has power-of-attorney for their client, they shall NOT sign any documents on their behalf.
Confidentiality, as it relates to Seller Appointed Agency, begins at the time of the signing of the listing Agency Contract:
Exclusive-Right-to-Sell with our brokerage. Please avoid discussing details with the titleholder as much as possible until
the listing is secure.
At this time, email threads are an evolving area and will be considered a “temporary” approval of a change to the
listing contract; however, a follow-up signature will be required for the office file. Otherwise, the email threads would be
subject to the agent being able to prove that there was no deception, the client clearly understood the communication, the
client was competent at the time of the email and that it can be reasonably assumed that the people behind the email are
who they say they are.
PERSONAL ASSISTANTS / UNLICENSED SUPPORT PERSONNEL
In order to provide reasonable assistance to licensees and their support personnel, but without defining every permitted
activity, the commission has identified certain tasks that unlicensed support personnel under the direct supervision of a
licensee affiliated with a firm or broker may and may not perform.
PERMITTED activities include but are not limited to the following:
1.) Answer the telephone, provide information about a listing to other licensees, and forward calls from the public to a
licensee
2.) Submit data on listings to a multiple listing service
3.) Check on the status of loan commitments after a contract has been negotiated
4.) Assemble documents for closing
5.) Secure documents that are public information from the courthouse and other sources available to the public
6.) Have keys made for company listings
7.) Write advertisements and promotional materials for the approval of the licensee and supervising broker
8.) Place advertisements in magazines, newspapers, and other media as directed by the supervising broker
9.) Record and deposit earnest money, security deposits, and advance rents, and perform other bookkeeping duties
10.) Type contract forms as directed by the licensee or the supervising broker
811.) Monitor personnel files
12.) Compute commission checks
13.) Place signs on property
14.) Order items of routine repair as directed by a licensee
15.) Act as a courier for such purposes as delivering documents or picking up keys. The licensee remains responsible for
ensuring delivery of all executed documents required by Iowa law and commission rules
16.) Schedule appointments with the seller or seller’s agent in order for a licensee to show a listed property
17.) Arrange dates and times for inspections
18.) Arrange dates and times for the mortgage application, the pre-closing walk-through, and the closing
19.) Schedule an open house
20.) Perform physical maintenance on a property
21.) Accompany a licensee to an open house or a showing and perform the following functions as a host or hostess: open
the door and greet prospects as they arrive, hand out or distribute prepared printed material, have prospects sign a guest
book or register to record names, addresses and phone numbers, accompany prospects through the home for security
purposes and not answer any questions pertaining to the material aspects of the house or its price and terms.
22.) Independently host an open house on Agent Tour, if the public is NOT permitted.
PROHIBITED activities include, but are not limited to the following:
1.) Making cold calls by telephone or in person or otherwise contacting the public for the purpose of securing prospects for
listings, leasing, sale, exchanges, or property management
2.) Independently hosting open houses, kiosks, home show booths, or fairs where the public is permitted
3.) Preparing promotion materials or advertisements without review and approval of licensee and supervising broker
4.) Showing property independently
5.) Answering any questions on title, financing, or closings (other than time and place)
6.) Answering any questions regarding a listing except for information on price and amenities expressly provided in writing
by the licensee
7.) Discussing or explaining a contract, listing, lease, agreement, or other real estate document with anyone outside the
firm
8.) Negotiating or agreeing to any commission, commission split, management fee, or referral fee on behalf of a licensee
9.) Discussing with the owner of real property the terms and conditions of the real property offered for sale or lease
10.) Collecting or holding deposit moneys, rent, other moneys or anything of value received from the owner of real
property or from a prospective buyer or tenant
11.) Providing owners of real property or prospective buyers or tenants with any advice, recommendations or suggestions
as to the sale, purchase, exchange, rental, or leasing of real property that is listed, to be listing, or currently available for
sale or lease
12.) Holding one’s self out in any manner, orally or in writing, as being licensed or affiliated with a particular firm or real
estate broker as a licensee.
INVESTOR BUYER/LAND TRUST & SHORT SALES
In an effort to protect our agents and RE/MAX Precision from being accused of unethical conduct such as fraud,
misrepresentation or breach of fiduciary responsibility, agents must follow the guidelines detailed below.
All agents shall make full disclosure to the Broker of their participation in any short sale.
RE/MAX Precision prohibits their agents from engaging in short sale transactions where there has not been full, written
disclosure to the party they represent as to what their role is in the transaction. Such conduct will be deemed acting
outside the course and scope of an agent’s authority.
All short sales described below necessarily presume the transaction is subject to, and conditioned upon, approval by the
Seller’s mortgage holder or lenders.
Definitions of Parties: Party A = Short Sale Seller Party B = Investor Buyer/Land Trust Party C = End Buyer
SCENARIO NOT ALLOWED: THE SIMULTANEOUS CLOSE
Party A (Short Sale Seller) conveys the property, prior to closing or upon closing to Party B (Investor Buyer/Land Trust) in
which Party B directly and actively negotiates the terms of the short sale with Party A’s lender or mortgage company.
Party B then conveys the property to Party C (End Buyer) at a profit to Party B on the same day; otherwise known as the
simultaneous or same day closing.
9Same day or simultaneous closings are prohibited absent clear and extenuating circumstances which circumstances must
be acknowledged by all parties in writing.
SCENARIOS ALLOWED
1. RE/MAX Precision agent may receive compensation for bringing together Party A (Short Sale Seller) and Party B
(Investor Buyer/Land Trust); therefore, allowing them an opportunity to explore options which could be mutually
acceptable. The agent is not involved in securing the purchase agreement or facilitating the closing of the transaction
between Party B and Party A. All compensation must be made payable to the Broker.
If Party B successfully acquires the property from Party A, the agent may agree to list and market the property for
sale in search of Party C (End Buyer).
2. RE/MAX Precision agent represents Party A (Short Sale Seller) and Party B (Investor Buyer/Land Trust). The
clients enter into a fully disclosed Dual Agency relationship and the agent secures the purchase agreement
“subject to bank approval.” The agent actively negotiates the terms of the short sale with Party A’s lender or
mortgage company with full disclosure that Party B is an Investor Buyer/Land Trust (See Investor Addendums).
Once Party B acquires the property and waits any required seasoning period (typically 30-90 days) as imposed
by Party A’s lender or mortgage company, as a condition of such approval, the agent may agree to list and market
the property for sale in search of Party C (End Buyer).
NOTE: The agent may not have ANY financial interest in Party B on an individual basis or through a partnership,
corporation or limited liability company in the above allowed scenarios. Agents are not allowed to act as a
“straw man” in any short sale transaction (serve as a cover to conceal the identity of the actual party).
INVESTOR BUYER/LAND TRUST ADDENDUMS
Any Addendum to the Purchase Agreement used by an agent working with an investor purchasing a Short Sale property
for profit, must be reviewed by RE/MAX Precision PRIOR to the Addendum being incorporated into the contract.
The Addendum must be prepared by an attorney and shall include the “prepared by” information such as their name,
address and phone number. Real estate licensees are not allowed to give legal advice or practice law; therefore, agents
should not be creating these complex Addendums.
AGENT ACTING AS TRUSTEE
No RE/MAX Precision agent may act as Trustee of a Trust on any Short Sale Listings contracted by RE/MAX Precision
due to our firm being an Appointed Agency brokerage.
AGENT AS A THIRD PARTY NEGOTIATOR
No RE/MAX Precision agent shall receive compensation as a third party negotiator without full written disclosure to all
parties that they are a licensed real estate agent in the state of Iowa. This disclosure must be a separate document
prepared by an attorney to include the prepared by information such as the attorney’s name, address and phone number.
Agents may not accept compensation as a third party negotiator on any listings held by RE/MAX Precision due to our firm
being an Appointed Agency brokerage. Any third party negotiator compensation must be made payable to Broker and will
be treated as an earned commission.
Any scenarios falling outside of the transactions described above must be discussed in full with the Broker and
may be subject to approval by an attorney.
Note: If you are unclear as to the meaning of an Appointed Agency brokerage, please consult an Office Broker.
CONTRACTS
When a contract is firm, it should be submitted for review via DotLoop immediately, whether or not it is our listing or our
sale. It is the listing agent’s responsibility to watch for the earnest deposit to come over from the selling company. Any
earnest deposit must be turned in with the contract within 5 business days of final acceptance. Time is of the essence!
Closings are not complete and commission checks will not be issued until the office files are complete on DotLoop.
10All earnest-money checks will be deposited into the trust account the same day they are received. If the Buyer’s check is
returned, the Buyers will be asked to provide the earnest money in the form of a cashiers check to fulfill the contractual
obligation and will be charged for any fees appearing on the office bank statement. If the Buyer’s check is returned, the
Seller should be notified.
It is strongly recommended that each agent establish and maintain a file on each sale and each listing for their own
records.
PRE-OCCUPANCY AGREEMENTS
These must be signed by the Seller BEFORE the Buyer can take occupancy, even if the closing is to be in an hour.
Advise the Buyer/Seller to contact their insurance agent before possession. Post-occupancy agreements should always
be signed before closing. On our listings, Buyers must sign OUR office occupancy agreement.
HUD PROPERTIES
Our company’s NAID number to submit electronic bids on HUD properties is #TRZLLC2588. HUD listings are updated
every Friday; a complete listing of HUD properties across the country can be searched via www.HudHomeStore.com.
TRUST ACCOUNTS AND DEPOSITS
Iowa law requires that all monies entrusted to the Broker be deposited within 5 business days upon final acceptance.
Both Buyers and Sellers have an interest in the deposit. This money cannot be released from the trust account without
the written agreement of both the Buyer and the Seller. No exceptions.
Post-dated checks are not acceptable. Only immediately cashable checks, money orders, or cashiers checks are
acceptable as earnest deposits. While cash is legally an acceptable form of deposit, we ask that it be submitted in the
forms previously noted prior to submitting it to the office BOC.
We cannot accept notes for the earnest deposit. The reason is that we must redeem them or fulfill the note in some way
into the trust account (and take responsibility for collecting it from the Buyer.)
TRANSACTION FEE
Every agent will be charged a $75.00 Transaction Fee for the first 20 transaction sides per year. This fee will be deducted
from the earned commission at the time of payment to the agent.
AGENT RECRUITMENT INCENTIVE
For every new agent that one of our agents recruit, they will receive a $100 credit on their monthly expenses. This credit
will be given every month for as long as the recruited agent is with the brokerage.
The recruiting agent will receive payment once the new agent completes their “90 Day New Agent” period. *This does not
apply to team members that are recruited, only independent agents.
Each new agent brought on under this incentive will be subject to a 1 year review. At that point, the brokerage reserves
the right to terminate payment on the new agent if they are not producing.
COMMISSIONS
In the RE/MAX system, the agent receives the commission earned after a completed closing. If the agent has a
delinquent office bill, the amount in arrears will be deducted from the commission.
You will receive a 1099-MISC at the end of the year (unless you receive payment via a corporation).
At no time is a RE/MAX agent permitted to pay another agent directly on a real estate commission split or referral. All
commissions earned must go through the company business account.
RE/MAX Precision will not accept credit cards for payment of earned commissions. Clients will need to do a
cash advance or use checks issued by their credit card company, if necessary.
COMMISSION CHECKS
Commission checks will be written when the office file is complete and the closing statement and other required
documents are in DotLoop.
11Commissions, generally speaking, are disbursed the next business day following receipt of the checks in the closing
department (For example, if the actual closing takes place on Thursday and the commission check does not reach our
closing department until Friday, the agent’s commission will not be dispersed until Monday). Commissions are dispersed
via Direct Deposit unless otherwise requested by the agent.
Any referrals to be paid should be noted on the sales worksheet. The Iowa Referral Disclosure form must be signed
by the client and agents prior to checks being dispersed (applicable for 1-4 dwelling units) SEE PAGE 7
REFERRALS. The agent must supply the Federal Tax ID number of the company to which the referral is to be sent.
PROPERTY MANAGEMENT
If an agent chooses to engage in property management, a written Property Management Agreement signed by the
owner, authorized agent and broker MUST be on file with RE/MAX Precision.
RE/MAX Precision agents are not permitted to hold funds on behalf of any owner and must be deposited in accounts
maintained in the name of the owner. The Property Management Agreement must give permission for the authorized
agent and broker to deposit money into these accounts.
RE/MAX Precision agents are not permitted to order credit reports or provide rental agreements for use by any client
owner. Owners are to be advised to contact their attorney for legal advice regarding these items.
Every Property Management Agreement (or other written authorization) between an authorized agent and an
owner of real estate shall include, but not be limited to, the following:
1. Proper identification of the property to be managed or rented.
2. All terms and conditions under which the property is to be managed or rented and powers and authority
given to the broker by the owner.
3. Amount of fee or commission to be paid to the broker and when it will be paid.
4. Amount of security deposits and that prepaid rents to be held by the owner.
5. Effective date of the agreement.
6. Terms and conditions for termination of the property management agreement by the broker or the owner of
the property.
7. Signatures of the broker, owner and owner’s authorized agent.
EQUAL OPPORTUNITY
It is the responsibility of the office to offer equal opportunity employment to any prospective sales agent without regard to
race, color, sex, religion, age, national origin, familial status, ancestry or handicap. It is the responsibility of the agents to
offer equal service to all clients/customers without regard to race, color, sex, religion, age, national origin, familial status,
ancestry, or handicap in the purchase, sale, lease, exchange, rental or showing of any property. It is the policy of this
company to strictly adhere to the spirit and the letter of this regulation.
Examples: If you never routinely qualify Buyers/Renters, then you should never qualify minorities or any of the protected
classes named above. If you always offer coffee to Buyers/Renters, you should always offer coffee to minorities or the
protected classes.
Agents are to notify either Broker or Manager of any and all denial of tenant applications before denial is issued to the
tenant.
AD CALLS AND SIGN CALLS
For callers mentioning an agent, the caller belongs to that agent. If there is no agent name mentioned, the caller belongs
to the floor duty agent, if available, or an agent on site.
If an agent is asked for, and the agent is not in and the BOC determines there is no prior relationship to the caller and that
he/she is merely calling for information on a sign, etc., that call will be passed to the duty person. Care should be taken
by the BOC in making this determination. The BOC or duty agent should always try to get a phone number and page the
requested agent. Only in the case of the caller insisting that he/she wants information immediately should the call be
passed to the duty agent.
Dos and Don’ts:
12If the Agent requested is not in the office:
Respond: “He is not in the office at the moment. Please give me your name and number and I will have him return your
call.” Be prepared to ask at least 3 times for the name and number. Remember the Golden Rule: Treat Others as You
would like to be treated!
“Oh, that’s OK. I’ll call later.”
“Well, he’s in and out quite a bit. Please give me your name and number and I’ll have him return your call.”
NEVER say:
“He’s not here, may I help you?” Two problems occur here. Either it can be construed that you are trying to steal a client,
or even worse, what if the caller says, “Yes”? Never become involved in another agent’s transaction. You do not know
the details and can create a messy situation.
“He’s at home.” The public expects us to work all the time. If a Seller thinks we are at home, he thinks we are neglecting
our job.
“He has not come in yet.” Same reason as above!
“May I tell him whose calling?” When a caller asks if someone is in, the caller will either feel his agent is having his calls
screened or that you are just plain snoopy.
This is to insure smooth handing of the client while protecting the interest of the people who are paying for the ads and
getting the listings. We certainly do not want to create a situation that makes our policy a hindrance to getting your listings
sold, and yet, we do have to respect the fact that the people who have the listings are paying for those signs and ads. As
always, Management will be glad to help clarify this policy.
EMAIL SIGNATURES
According to the Iowa Real Estate Commission the following information must be disclosed upon each email transmission
including emails from your smart phone or tablet (iPhone, Android, iPad, etc):
Example:
Samantha Adams NAME
Realtor
515-965-1234 Direct Dial IDENTIFY AND LIST PHONE NUMBER
515-964-8055 Office Fax
RE/MAX Precision ADDRESS FROM WHICH YOU CONDUCT BUSINESS
107 East First Street
Ankeny, Iowa 50021
THESE TWO DISCLOSURES
Licensed to sell real estate in the State of Iowa
This email is not intended to be a solicitation for business if you are currently working with another brokerage company.
In addition, RE/MAX requires the following disclosure “Each Office Independently Owned and Operated.”
NOTARIZING DOCUMENTS
Agents can only notarize documents signed in their presence. No agent should EVER notarize anything by persons not
signing before them! DO NOT ask another agent to notarize a document that has already been signed by your client.
Your license is at risk and could be revoked.
MULTIPLE OFFERS
We must be above reproach and be cognizant that we make an effort to get all offers presented. Your license could be in
jeopardy if the Sellers feel that everything is not being done to help him review all offers. When more than one offer is
presented, the guideline is simple: What is best for the Seller prevails so ask the Seller what HE/SHE wants to do.
If an offer comes in before you’ve relayed acceptance to the Selling Agent, ask the Seller what HE/SHE wants you to do.
LOCKBOXES
Under no circumstances do you loan your lockbox key to anyone not authorized by the MLS, and never to a client so that
they may inspect a property without you. Unlicensed Assistants are not allowed to use lockbox keys.
13CONFIDENTIALITY OF FINANCIAL INFORMATION
It is our policy to respect people’s privacy and to handle professionally the information in our custody. As you know, it is a
violation of the law to divulge information to unauthorized people and opens you to all sorts of problems if you ignore your
responsibilities in this area. Many times you react innocently in response to questions from people who are not directly
associated with the transaction. Please don’t discuss information that you have been given with anyone except the
person who is giving you the information. If there is ever a situation where you need to discuss the personal financial
information you have been given, either from a principal or a lender, with anyone that is not authorized, you must get the
written permission of the person whose information you need to divulge.
A good example is when a Seller questions you on the qualifications of your Buyer. Only in the case where you have
written permission to discuss that information are you allowed to divulge it. Your professionalism and the trust that the
people have in you will be enhanced by the proper handling of this information and people will appreciate the extra care
you take.
It is against the law to discuss specific areas of credit reports. You may only say credit was not approved. It is not allowed
to give a credit report or any specific information on the report to a Buyer/tenant.
PROPERTY DISCLOSURES
All residential listings must have Seller Property Disclosures filled out by the Seller. For properties built prior to 1978, a
Lead Base Paint Disclosure must also be filled out by the Seller. Under no circumstances should an agent fill out
these forms for the Seller.
DO NOT CALL REGISTRY LAW
It is against the law for you to cold call residential telephone subscribers (including expired listings and FSBOs) to solicit
business without first checking the National Do-Not-Call Registry. You could be fined up to $10,000 for each violation.
The rules, however, have some exceptions:
1. They only apply to residential telephone subscribers, not calls to business telephone numbers.
2. You can call the person if you have a personal relationship with that person.
3. You can call the person if you have that person’s written consent to call.
4. The 18-Month Rule: You can call a person even if his name is on the list if he has been engaged in a business
transaction with you within the last 18 months.
5. The 3-Month Rule: You can call the person if he has made an inquiry about your services within the last 3
months.
PERSONAL AGENT WEBSITES
Licensees advertising or marketing on a site on the Internet that is either owned by or controlled by the licensee must
include the following data on EACH page of the site on which the licensee’s advertisement or information appears:
1. Licensee’s Name
2. The full name of the firm with which the licensee is affiliated and as registered with the Iowa Real Estate
Commission: RE/MAX Precision
3. Office address and phone number (label any additional phone numbers such as mobile/cell)
4. City and State in which the licensee’s office is located
5. The states in which the licensee holds a real estate salesperson or broker license: Licensed to sell real estate in
the State of Iowa
6. Disclosure “Each Office Independently Owned and Operated”
SOCIAL NETWORKING SITES
Because there already exist hundreds of different social media tools and websites which may be utilized by agents and
more are being created, the provisions of this policy are to be interpreted generally to apply to the types of interaction the
agent has with the social media service rather than to specific web sites and providers.
Notwithstanding anything in this policy, it remains the responsibility of the agent to comply with the requirements of local,
state and federal law and the Code of Ethics of the National Association of Realtors.
The scope of this policy shall extend to all uses of social media in connection with the real estate business (including any
use in which the agents seeks to promote or capture real estate business from consumers or other agents). This policy is
14not intended to cover the activities of agents falling completely outside the real estate business; however, any conduct
which reflects adversely upon the Broker or the brokerage may be reviewed under the terms of this policy.
Users are defined as individuals visiting the social media sites of the agent.
Whenever identification is required it shall include the following items:
1. Name of Agent
2. Brokerage Name
3. Address of office from which you Conduct Business (not personal home)
4. Identify List of Phone Numbers
5. These 3 Disclosures:
Licensed to sell real estate in the State of Iowa
This email is not intended to be a solicitation for business if you are currently working with another brokerage company.
Each Office Independently Owned and Operated.
BLOGGING
Agent shall be responsible for compliance with all laws and regulations governing real estate business including
identification as listed above, fair housing, antitrust and real estate license laws and regulations.
Agent shall be responsible for informing Broker and obtaining approval of any blogging site maintained by agent prior to
launch and shall be provided with information necessary to subscribe to the blog.
Terms of Use shall be created by the agent and reviewed by Broker prior to launch of any blogging site. Terms of Use
shall include the following:
i. Users shall abide by any legal requirements related to the use of the blog and the site’s terms of use for
the blog including specifically its privacy policy. Users shall be responsible for their conduct on the site.
ii. Obtain clear authority from users to utilize anything the user includes on the site.
iii. Prohibit the unauthorized use of third party content or the posting of any unlawful or objectionable
material.
iv. Prohibit the use of the site to harass or stalk anyone.
v. Prohibit the posting of content which infringes on the rights of any third party.
vi. Prohibit the posting of content which expresses a preference based upon an individual’s membership in a
protected class.
vii. Provide a take-down policy in the event any such materials are posted to the site.
viii. Disclaim responsibility for any third party sites linked to or through the site.
ix. Generally, disclaim and limit any liability arising from the content of the site whether provided by agent or
user.
x. Provide a privacy policy consistent with that used by the brokerage.
Agent shall not pay or provide anything of value to another party in consideration of comments placed on the blog. If
agent does allow comments to be posted in return for consideration, the fact that the commenter has received
compensation shall be disclosed.
Agents shall identify themselves when establishing a blog in such a way that users of the blog shall know the agent’s
name, their status as a real estate licensee and the name of the brokerage with which they are affiliated. In any posting
related to the Broker, agent shall assure that their relationship to the Broker is clear so as to avoid violation of FTC rules.
Agents shall not participate in the blog of another party without disclosing their identity and the brokerage with which they
are affiliated (see identification list above).
All blogging must be monitored by agent for false, defamatory, demeaning or degrading comments at least once per
week. Agent is responsible for removing or clarifying any comment if the agent knows that it is false or misleading.
Agent is responsible for assuring that the content and operation of the blog conform to the standards established by the
NAR Code of Ethics.
Broker shall be notified of any offer of compensation to the agent for real estate related services communicated or
established through the blog.
THIRD PARTY SITES
15Agents are required to read and be familiar with the policies and requirements of any site on which they participate and to
comply with the requirements of that site. In particular, agents should know the privacy practices and policies of the sites.
Where options are provided, the agent shall select an option which provides a level of protection to users of agent’s social
media sites consistent with the level of protection afforded by the brokerage at the brokerage’s website.
Agents should remain aware that items posted on social media sites may be forwarded or used for purposes other than
originally intended. Agents should be aware of this when making decisions as to what to include on their social media
sites.
Posting of Professional Contacts & Qualifications (e.g. LinkedIn)
Agent is responsible for assuring that any listing of qualifications, credentials or training contained on the site is current,
accurate and not misleading. Any changes to the foregoing shall be promptly revised on the site.
Agent shall not falsely claim association with any person or group.
Notwithstanding any provision herein, agent remains responsible for complying with the license laws and regulations
governing the conduct of licensees and all applicable local, state and federal laws. Agent is also responsible for assuring
that the content conforms to the standards established by the NAR Code of Ethics.
Posting of Text (e.g. Facebook or Twitter)
All text shall be the agent’s own and not plagiarized or copied from another party without that party’s permission. This
shall not prohibit the use of reasonable quotations from the writings of others or writing for which the agent has received
permission to use or using writings consistent with the practices of the site (e.g. re-tweeting). No content which infringes
the rights of any third party may be used.
Agent may not write regarding the listings of another licensee within the brokerage without approval from the other
licensee.
Agent may not write regarding the listings of other brokerages without written approval from that Broker.
Agent shall assure that writings do not contain unauthorized disclosures of confidential information of clients, customers or
Broker.
Agent is responsible for assuring that the use of the site is consistent with the NAR Code of Ethics, local, state and federal
laws and all applicable real estate license laws and regulations, including proper identification of the Agent.
Posting of Comments to Social Media Pages of Others
Any statement regarding the brokerage shall clearly disclose the agent’s relationship to the brokerage.
The Agent shall disclose his/her status as a real estate professional as a part of any real estate related statement.
Any compensation for a comment an agent places on a site must be run through the brokerage.
Agent is responsible for assuring that the use of the site is consistent with the NAR Code of Ethics, local, state and federal
laws and all applicable real estate license laws and regulations, including proper identification of the Agent.
Posting of Photos (e.g. Flickr)
Agent is responsible for assuring that they are authorized to use any photo posted to the site to avoid copyright issues.
Agent shall secure permission to post for marketing purposes the image of another person on the site.
If an image has been materially altered in any way by Agent, the fact that the image is altered shall be disclosed.
Agents is responsible for assuring that the use of the site is consistent with the NAR Code of Ethics, local, state and
federal laws and all applicable real estate license laws and regulations, including proper identification of the Agent.
Posting of Audio or Video (e.g. YouTube)
Agent is responsible for assuring that they are authorized to use any audio or video posted to the site to avoid copyright
issues.
16Agent shall secure permission to post for marketing purposes the image of another person on the site.
If an image has been altered in any way by Agent, the fact that the image is altered shall be disclosed.
Agents is responsible for assuring that the use of the site is consistent with the NAR Code of Ethics, local, state and
federal laws and all applicable real estate license laws and regulations, including proper identification of the Agent.
PROBLEMS BETWEEN AGENTS OR STAFF
If a problem arises between agents or between staff and an agent, the matter should be brought to the attention of the
Broker. The sooner it can be resolved, the better.
If there is a time that you suspect wrongdoing, the policy will be to encourage you to come forth immediately before the
rumors get to the point where an even larger problem exists. Many times these problems are caused by
misunderstandings that are only made worse by not getting the problem out on the table. Do it ASAP.
It is conceivable that 2 agents might legitimately work the same Buyer and/or show the same property. Should such a
situation arise, the agents should be able to resolve the dispute between them. If they are unable to resolve the issue, the
Broker should be contacted immediately as our ICA provides for Dispute Resolution.
If an agent knows that the Buyer has recently worked with an agent, then that Buyer should be referred back to the first
agent. However, if the Buyer does not wish to work with the first agent, then the second agent should work with
the Buyer.
V. MISCELLANEOUS
SIGN STORAGE IN OFFICE
Agents are permitted to store their real estate signs in their private offices. We ask that you please make every effort to
avoid damage to the office flooring, walls, etc.
MOVING TRAILERS/VANS AND PERSONAL VEHICLES
Due to the various city ordinances and available parking at each office location, Agents are not to leave personal vehicles
or personal marketing “moving” vans/trailers parked in the office parking lot for a period of longer than 48 hours unless
approved by the broker/manager of that office location.
DOG-FRIENDLY WORKPLACE
Collectively, we can all agree that dogs are a privilege and with privilege comes responsibility.
We have the privilege of being a dog-friendly office. Dog owners shall be respectfully attentive to others who may be
uncomfortable or distracted by the pet’s behavior and proactively address distractions as well as be open to suggestions
on how to improve distractions.
Ø Dog owners are 100% responsible, 100% of the time, for their pet’s well-being, behavior and biological needs
including scooping, bagging, cleaning and sanitizing, as needed.
Ø Dog owners must maintain a homeowner/renter’s insurance policy that does NOT exclude dog bites or have
specific breed exclusions. This is to protect both RE/MAX Precision and clients, agents and staff.
Ø Dogs must be at least 12 months old.
Ø Dog owners must clean up after their pet goes to the bathroom outside. Waste should be disposed of properly in
a trash receptacle OUTSIDE of the office.
All dogs MUST be:
1. Owned and housed by dog owner for at least 30 days
2. Current on vaccinations including DDTP and rabies, at all times
3. Parasite-free of fleas, ticks, etc
4. Spayed or neutered
5. Obedient
6. Potty trained and of good hygiene (no foul, unpleasant or strong odors)
7. Positively attended to 100% of the time
8. Covered under the pet owner’s homeowner/renter’s insurance, which must cover dog bites and have no breed
exclusions
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