This MARKETING AGREEMENT (the “Agreement”) made and entered into as of this DATE by and between REI Deal Closers (Marketer) and yourself and or company (Provider)
1. Business Purpose:
The business of the “Agreement” shall be to purchase certain real estate from leads provided by “Provider” for the purpose of renovating, sale for profit, buy and hold, or wholesaling. “Provider” will not be involved in the purchase of nor the renovation of the Property, nor any other obligation of the other parties under this agreement.
2. Term of the Agreement:
This Agreement shall commence on the date first written above and shall continue in existence until terminated, liquidated, or dissolved by law or as hereinafter provided.
3. Obligations of the Marketing Agreement:
a) “Provider” will submit leads that have shown an interest in selling on terms.
b) “Marketer shall contact leads submitted by “Provider”
c) “Marketer” will use creative buying techniques to purchase property to hold or to sell for a profit.
4. Payment Structure
Upon the acquisition and close of escrow of the property “Marketer” will pay “Provider” We pay you $1,000 for the lead if it is purchased or assigned on creative terms. We do a 50/50 split of the assignment fee if we are able to wholesale the deal with no out of pocket costs. If we close on the deal with our or investor funds and wholesale it the split will be 70% to REI Deal Closers and 30% to you. If we purchase the property for a flip or to hold as a rental with a all cash purchase we will pay you $2,500 to $5,000. If you need help with the selling/dispo of the contract it is a 50/50 split of the assignment fee. All payments/referral fees will be paid from Escrow/Title, or Attorney at the time of closing. No referral/payment fee is due to “Provider” if “Marketer is unable to buy a property from a lead submitted by “Provider”.
5. Indemnification of the Joint Venture:
The parties to this Agreement shall have no liability to the other for any loss suffered which arises out of any action or inaction by a party if, in good faith, it is determined that such course of conduct was in the best interests of Marketing Agreement and such course of conduct did not constitute negligence or misconduct. The parties to this Agreement shall each be indemnified by the other against losses, judgments, liabilities, expenses, and amounts paid in settlement of any claims sustained by it in connection with the Joint Venture. Each party shall also bear the costs of its own attorney’s fees.
6. No Partnership Created or Intended:
The parties to this agreement intend to set forth their mutual obligations with respect to leads provided by “Provider” Nothing hereunder is intended to nor shall it create any partnership or agency relationship between the parties.
7. Severability.
If any provision of this Agreement shall be declared invalid, illegal or unenforceable in any respect by a court of competent jurisdiction, the remainder of this Agreement and any other application of any other provision shall not be affected thereby, all of which shall be construed as if such affected provision had not been contained herein.