Co-Broke Policy for The Cove at Terra Ceia Bay
We at The Cove sincerely want to foster and encourage a very good, and mutually beneficial, working relationship with our friends and colleagues in the Real Estate community. To that end, we provide our Co-Broke guidelines here:
COMMISSION The co-broke commission is 3% payable to your office provided that you are the Procuring Cause with a current registered Buyer Client. Commission is paid on home and lot price, but exclusive of any lot premiums and any upgrades to the home price. For co-broke commission on inventory/sales/close-out homes, commission is 2.5% paid on the advertised base price, exclusive of any lot premiums and any upgrades, furnishings or merchandise. Commission is payable in full at closing.
REGISTRATION OF YOUR PROSPECT Please note that our model is not yet open. You may register your Prospect by simply emailing us at sales@coveatterraceiabay.com with your Prospects complete contact information inclusive of full name, address, email, and cell phone number; and, your complete Broker/Associate information inclusive of both Broker and Associate (as applicable) names, addresses, emails, office and cell phone numbers and legal entity to receive the commission. Your registration email must include your Prospect as a recipient with a request that your Prospect reply-all to confirm that you are the Prospect’s current Agent.
Once our Sales Model is open, please accompany your Prospect to our Sales Model and fully complete our Registration Card. The Registration Card must be completed and signed by both you and your Prospect. If a Prospect is unaccompanied by a Broker/Associate and completes our Registration Card and marks on the card that they are not represented by a Broker/Associate, a Broker/Associate can not be the Procuring Cause unless and until the Prospect and the Broker/Associate together and in-person visit our Sales Model and complete a new Registration Card. A Prospect may complete the Registration Card without the accompaniment of their Broker/Associate, so long as the Prospect completes Broker/Associate representative section of the Registration Card completely, and you sign the Registration Card prior to the date of contract.
Registering your Prospect by following our guidelines here will assure your Co-Broke status on any contract written with the Prospect within 180 days of the date of registration. However, your Prospect may extend their registration and your Co-Broke status an unlimited number of times in 180-day increments by completing and signing a new Registration Card with you as Agent, per our guidelines herein.
If our Sales Model is open, and if you are unable to accompany your Prospect to our Sales Model, you may email us to inform us of your Prospect’s visit, and your Prospect must complete the Broker/Associate representative section of the Registration Card in-full, and you must sign the Registration Card prior to the date of contract.
PROCURING CAUSE All Broker / Associate Realtors will have procuring cause status for their Prospect on any contract written within a current registration period unless:
- The Prospect completes a new Registration Card stating that they are no longer represented by a Broker / Associate Realtor. In other words, the Prospect has a current existing registration without an Agent at time of contract.
- The Prospect makes a subsequent registration and/or signs a contract under another Broker / Associate Realtor, at which time any prior Broker / Associate Realtor will be deemed to have lost control of the Prospect and all claims for commission.
AGENCY It shall be presumed that all Realtors are operating as Transaction Brokers unless a Buyer’s Agency Relationship Disclosure is presented to our Sales Model’s onsite Agent at first contact, per CH 475.278 F.S. In the event that our Sales Model is under construction and has not yet been opened, the Buyer’s Agency Relationship Disclosure must be attached with the initial Registration Email, per the registration guidelines herein.
Thank you in advance for following our guidelines and making our transaction together a success!
ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THIS BROCHURE AND TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE.