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Southern Homes welcomes referrals from licensed real estate professionals and values the role they play in helping buyers find the right home. To protect broker participation and ensure commission eligibility, the following policy applies to all home sales involving a licensed Buyer’s Broker/Agent:

 

Broker Referral Requirements

 For a Broker/Agent to be eligible for a commission, all of the following conditions must be satisfied:

  1. Community Eligibility: Southern Homes must be offering Broker/Agent commissions in the community where the home is located.
  2. Registration at Initial Contact: For the purposes of this policy, “Initial Contact” is defined as that point in time when a prospective purchaser of a home (a “Prospect”) or a Prospect’s Broker/Agent makes first contact with a Southern Homes’ New Home Specialist or a Southern Homes online representative, in any manner; e.g., in person, online, by phone, by a video call or video tour with a New Home Specialist. At any form of Initial Contact, the Prospect must register his/her Buyer Agent with Southern Homes.
  3. Accompanied Visit Requirement: In addition to registering the Broker/Agent, the Broker/Agent must accompany the Prospect on the Prospect’s first visit to a Southern Homes model home or, if the Prospect’s first “visit” is by a video call or video tour, the Broker/Agent must participate in such video call/tour to be eligible for a Broker/Agent commission.
  4. Buyer-Broker Agreement Required: A copy of a valid Buyer-Broker Agreement (“BBA”) must be submitted to Southern Homes prior to, or simultaneously with, the Prospect’s or the Broker/Agent’s Initial Contact as defined The copy of the BBA can be transmitted electronically to Southern Homes’ Online Sales Counselor or New Home Specialist prior to a Prospect visiting a model home or video call/tour, uploaded through the Broker Registration feature on the Southern Homes website, or a hard copy can be provided to a New Home Specialist at the Prospect’s first, accompanied visit to a Southern Homes model home.
  5. Referral Period: A Broker referral that meets all the conditions set out in in this SOP is valid for 30 days from the date Southern Homes receives a copy of the BBA or until the term of the BBA ends, whichever is A one-time 30-day extension (or until the term of the BBA ends, whichever is earlier) may be granted if the Prospect requests the extension in writing (an email from the Prospect being sufficient) before the original 30-day period expires. The term of the referral, including any extension, is the “Referral Period.”
  6. Preconditions Required: For a Broker/Agent to earn and be paid a commission, all of the following conditions must be met:
    • The Broker/Agent must be registered in accordance with Section
    • The Broker/Agent must satisfy the “accompanied visit” described in Section 3.
    • A copy of the BBA must have been delivered to Southern Homes in accordance with Section 4.
    • The Prospect must execute the Southern Homes’ standard Agreement for Purchase, Sale, and Construction (“Purchase Agreement”) within the Referral Period;
    • The Broker/Agent and the Prospect must sign Southern Homes’ Title, Lender, Broker Agreement prior to or at the time the Prospect executes a Purchase Agreement;
    • Southern Homes must accept and sign the Prospect’s Purchase Agreement; and
    • The Prospect must close and take deed to the home which is the subject of the Purchase Agreement.
    • Southern Homes has the absolute right, in its sole and absolute discretion, to refuse to accept any Purchase Agreement.
    • The commission paid by Southern Homes to the Broker/Agent will be the lesser of the amount stated in the BBA or the amount being offered by Southern Homes at the time Southern Homes executes the Prospect’s Purchase Agreement.
      • For the purposes of this policy, a referral that satisfies all of the above conditions shall be a “Qualified Referral.”
  7. Additional Terms
    • If Southern Homes’ CRM system shows that the Buyer previously contacted a Southern Homes’ employee about a home or a community without identifying and registering the Buyer’s Broker/Agent, or initially registered at a sales office and/or attended a self-guided or video tour of a home or a community without registering or being accompanied by the Buyer’s Broker/Agent, the Buyer’s Broker/Agent shall not be entitled to receive a commission related to the sale of any home in any Southern Homes’ community or other location to the Buyer.
    • Only one Broker/Agent will be recognized as eligible to represent a Prospect based on a Qualified Referral.
    • Brokers are solely responsible for compensating their affiliated
    • All documents, forms, and incentives used in making a Qualified Refe1rnl are considered proprietary to Southern Homes of Polk County, Inc.
    • Brokers/Agents are permitted to “self-represent” as a Buyer and receive an option incentive only (not a reduction in sales price) at the current co-brokerage For example, if the total sales price is $300,000 and the current co-brokerage rate is 2.25%, the Broker/Agent, which in this case is the Buyer, would receive $6,750 in options. This offer may be combined with current promotions/incentives.
    • Occasionally, Southern Homes may pa1tner with an approved Broker/Agent to assist our Buyers with services such as, but not limited to, lease buyouts, lease guarantees, listing agreements, etc. and will compensate the Broker/Agent the indicated commission rate on the Title, Lender, Broker document. In any of these cases, if Southern Homes refers a customer to a Broker/Agent, the Broker/Agent may not charge the Buyer any fees in accordance with RESPA. An example of this violation would be a “$500 Flat Fee Listing.”

 

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