The Transaction Team Master Services Agreement

MASTER SERVICES AGREEMENT

Acceptance of Terms of Use

By registering and using the TheTranasactionTeam.com or MLMSAssistant.com web site, you are agreeing to comply with and be bound by this Master Services Agreement. If you do not agree to these Master Service Agreement, you should not register with or use MLMSAssistant.com web site.

This Master Services Agreement is an ongoing binding contract between you (the "Agent") and THE TRANSACTION TEAM, LLC, a California limited liability company ("MLMS Assistant").

RECITALS

MLMS Assistant Provides various services to real estate agents in connection with the marketing, promotion and closing of residential real estate transactions.
The Agent is a licensed real estate agent or broker licensed with their respective States Department of Real Estate.
The Agent desires to engage MLMS Assistant and use one or more of its offered services in connection with certain residential real estate transactions in the state where the Agent is licensed. MLMS Assistant desires to provide such services to the Agent for marketing purposes or certain properties selected by the Agent at the rates and upon the terms and conditions set forth in this Agreement.
1. Services.
  1. MLMS Assistant shall provide one or more of the following services to the Agent upon the Agent's request in connection with each property identified to MLMS Assistant (individually, a "Service" and collectively, the "Services") at the prices set forth for such services on MLMSAssistant.com;
  2. The Agent shall notify MLMS Assistant of each new Service(s) or property for which Agent desires MLMS Assistant to provide any of the Services in writing by e-mail, by U.S. postal service, or on www.MLMSAssistant.com.
  3. Notwithstanding the foregoing, the scope of the Services provided by MLMS Assistant are expressly limited to those of a transaction coordinator, listing coordinator, marketing coordinator or virtual assistant and are not intended to supplant, replace, or otherwise augment the duties of the Agent required by applicable law, including, but not limited to, California Civil Code §§2079 et seq., or California Business and Professions Code Division 4 Chapter 3.
2. Agent Responsibilities. The Agent shall be obligated to perform the following tasks on every transaction registered with MLMS Assistant:
  1. Obtain signatures from buyer, seller and all agents on all mandatory contract documents, as well as respective office addenda to all contracts on the date the contracts are negotiated;
  2. Register a listing or sale transaction with complete information with MLMS Assistant on www.TheTransactionTeam.com within two (2) days of the date that the listing or sale contract is executed;
  3. Remain aware and informed of and supply all mandatory city transfer documents, and local and/or board disclosures to the Agent's assigned MLMS Assistant coordinator (the "Coordinator");
  4. Forward fully executed listing and/or sale contract documents and respective addenda to the Coordinator immediately following notification of a new listing or sale transaction with MLMS Assistant;
  5. When representing a buyer, arrange the home inspection with the buyer or provide MLMS Assistant with the information to coordinate the home inspection;
  6. Follow up with the lender(s), the appraiser to facilitate the loan process;
  7. Negotiate and fully execute the Request for Repairs with the Buyer and Seller;
  8. Provide documents and signatures to documents as requested by the Coordinator during the course of the transaction;
  9. Notify the Coordinator immediately in the event of a cancellation of listing or sale; and
  10. Maintain valid subscriptions to all software, memberships, and services MLMS Assistant will use on the Agent's behalf during the process of the listing or sale.
3. Authorization of MLMS Assistant. The Agent hereby authorizes MLMS Assistant to perform the following tasks:
  1. Contact and maintain communications with all parties to the transaction, including but not limited to: the cooperating agent, the escrow holder, the inspectors, the buyer and/or the seller
  2. Request, receive and retain copies of all documents related to the transaction, included but not limited to: listing agreement, purchase agreement, respective addenda, escrow instructions, preliminary title, mandatory reports, inspections, verifications, executed disclosures and general communications;
  3. Order a home warranty policy, mandatory reports and termite inspections, as appropriate;
  4. Request, receive and obtain signatures from buyer, seller and agents on all real estate disclosure documents and appropriate waivers;
  5. Notify the Agent of contractual contingency deadlines and follow the Agent's instructions regarding follow-up instructions;
  6. Submit accurate Greensheet to collect payment from the escrow holder for the Agent, transaction coordination service and for any reports or additional services ordered on behalf of the transaction;
  7. Assemble a complete hard copy D.R.E. and C.A.R. compliant transaction or cancelled file in MyTrans;
  8. Electronically archive the complete or cancelled transaction file; and
  9. Deliver the original hard copy or electronic copy to the Agent and duplicate files upon MLMS Assistant's receipt of payment of all fees owed to MLMS Assistant and any other expenses authorized by the Agent incurred on behalf of the transaction.
4. Restrictions on MLMS Assistant's Scope of Responsibility. The Agent agrees that MLMS Assistant shall not be responsible to:
  1. Supply the Agent with listing and/or purchase contracts and/or any supporting documents and/or addenda related to any contract documents;
  2. Supply any mandatory city transfer documents, local and/or board disclosures;
  3. Prepare, draft, or otherwise provide disclosures pertaining to businesses affiliated with the Agent, including, but not limited to, businesses providing the following services: escrow services, mortgage lending services, title insurance services, home inspection services, wood destroying pests and organism eradication services, tax services, and legal services;
  4. Generate or obtain signatures on listing or purchase contracts and/or any supporting documents and/or addenda related to contract documents;
  5. Instruct or authorize the escrow holder to draw up amendments to any documents;
  6. Handle the buyer's deposit check or relay entries to the Agent's trust log book;
  7. Follow-up with the lender, appraiser or the loan process;
  8. Arrange for or follow-up on the seller's required termite work or home repairs;
  9. Negotiate, write or rewrite buyer's Request for Repairs/Seller's responses; and
  10. Handle, deliver or receive keys to the property or arrange for keys delivery to the buyer or buyer's agent.
5. MLMS Assistant's Fees. MLMS Assistant's fees are accrued on the date that each service, package or transaction is registered with MLMS Assistant. The Agent shall be pay MLMS Assistant all fees incurred pursuant to those listed on MLMSAssistant.com and any additional expenses authorized by the Agent and incurred by MLMS Assistant on behalf of the transaction, including, without limitation, the costs of overnight deliveries and notary services. The Agent agrees that payment of all applicable service fees for each transaction is not contingent on a successful close of escrow for such transaction. The MLMS Assistant fees are invoiced to escrow and are due and payable no later than three (3) days after the close of escrow. The Agent shall pay MLMS Assistant a cancellation fee within three (3) days after MLMS Assistant receives notice of the cancellation of any transaction, or within 182 days of the date that the transaction is registered as OPEN with MLMS Assistant.
6. Notice of Revisions to MLMS Assistant's Fees. MLMS Assistant reserves the right to revise any of their fees at any time and without written notice to the Agent in connection with any revisions or additions to those posted on MLMSAssistant.com.
7. Contracts with Third Parties. Any contract or agreement between the Agent and a third party (i.e., the Agent's client (the buyer and/or seller)) for payment of MLMS Assistant's fees is strictly between the Agent and the third party. MLMS Assistant shall submit an invoice to escrow for MLMS Assistant's fees as directed by the Agent's instructions. However, if a third party refuses to pay any MLMS Assistant invoice, the Agent shall accept such invoice and shall immediately pay MLMS Assistant. MLMS Assistant shall not attempt or collude with any party to collect payment from a third party outside of escrow.
8. Remedies. MLMS Assistant reserves all rights and remedies available to it under applicable law to enforce this contract.
9. Disclaimer. The MLMS Assistant TC, LC, MC and VA's guarantee to meet contractual timelines is not in effect if the Agent fails to perform the obligations set forth in this Agreement. The MLMS Assistant guarantee to deliver a D.R.E. compliant file at the close of escrow does not apply if the Agent demands delivery of a paid file that the Agent is aware is incomplete and/or not D.R.E. compliant.
10. Indemnity. For each transaction the Agent registers with MLMS Assistant, the Agent shall indemnify, defend with counsel acceptable to MLMS Assistant, and hold harmless MLMS Assistant and its independent contractors, agents and employees against and in respect to any and all claims, demands, losses, fines, damages, expenses, obligations, liabilities, recoveries and deficiencies including interest, penalties and reasonable attorney fees that MLMS Assistant shall incur or suffer, resulting from or relating to any breach of or failure of the Agent to perform any of its obligations under this Agreement or any other party that forwards information to MLMS Assistant or through the MLMS Assistant website.
11. Amendment. All amendments or modifications of this Agreement shall be in writing and shall be signed by each of the parties hereto.
12. Assignment. MLMS Assistant shall have the right to assign this agreement to a third-party of its choosing, provided MLMS Assistant provides the Agent notice of the same.
13. Termination. Either party may terminate this Agreement at any time upon written notice to the other party delivered to the addresses set forth under the respective signature blocks below.
14. Counterparts. This Agreement may be executed in two or more counterparts, including by facsimile transmission or e-mail of a scanned signature page, all of which together shall constitute a single instrument.
15. Severability of Provisions. In the event any one or more of the provisions of this Agreement shall for any reason be held to be invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision hereof, and this Agreement shall be construed as if such invalid, illegal, or unenforceable provision had never been contained herein.
16. Integration. This Agreement constitutes the entire understanding and agreement between the parties with respect to the transactions contemplated herein and supersedes all previous communications, representations, or understandings, either oral or written, between the parties relating to the subject matter hereof, all of which are merged herein.
17. Refunds. MLMS Assistant will issue a refund within 3 days of the purchase date. Additional rules apply as listed below.
  1. Refunds within 3 days will be issued for services that have not been started minus a 3% refund fee
  2. MLMS Assistant does not provide refunds for any services that have started production, been sent to client for review or have been completed.
  3. Once your refund request is received and reviewed by MLMS Assistant (usually within 24 hours of receipt), your refund will be processed and a credit will be applied to your credit card or original method of payment. Please note that depending on your credit card company, it may take an additional 2-10 business days after your credit is applied for it to be posted to your account.

This agreement was last updated July 16, 2013.