Subject to the terms and conditions of these rules, iQ Office Suites (hereinafter referred to as “iQ”) will provide compensation to brokers for each introduction of qualified member candidates that result in the execution of a signed iQ Licence Agreement.
1. CONSTITUTION OF QUALIFIED INTRODUCTIONS
As set forth in these terms and conditions, for any entity or primary member of such entity (the “Introduced Entity”) to be considered a qualified introduction, such Introduced Entity must adhere to the following stipulations:
- Introduced Entity must sign a License Agreement to occupy (a) a Private Office(s) or (b) a Dedicated Desk(s) at iQ no later than six (6) months from the date of Introduction (as defined below);
- Introduced Entity must not be a current or previous member of iQ;
- Introduced Entity must not have previously contacted iQ or otherwise been submitted by another party prior to your Introduction;
- Introduced Entity must not be (i) a subsidiary or an affiliate of the entity providing the introduction or (ii) an entity with the same parent entity as the entity providing the introduction; and
- If multiple Introductions are received for the same Introduced Entity, iQ will honor the Introduction that was received earliest.
- Broker must be registered to trade in real estate within the jurisdiction in which the introduction was made
Eligibility for receipt of the fees (“Fee”) outlined herein is contingent on adherence to and acceptance of these terms and conditions. Introductions may be submitted by contacting an iQ Team member and providing written confirmation of:
- Submitter’s contact information including phone number, email address and name of the brokerage where they are employed.
- Introduced Entity’s contact information including company name, primary contact, phone number and email address.
- Summary of Introduced Entity’s requirement.
Contact with Introduced Entity
Upon receipt of a full and complete Introduction, iQ will initiate direct contact with the Introduced Entity for the purpose of confirming the Introduction unless otherwise instructed to contact the submitter first. By agreeing to these terms and conditions, the submitter hereby represents that it has obtained consent from the Introduced Entity to send the Introduced Entity’s contact information to iQ for the purpose of participating in the iQ Broker Incentive Program (the “Program”) described in these Terms and Conditions.
3. FEE(S) & PAYMENT
Subject to these terms and conditions, iQ will pay the submitter a Fee for qualified Introductions equal to the amounts outlined below. Eligibility for receipt of a Fee is contingent on the following factors:
- The License Agreement must be executed in full and be for a minimum term of three months.
- The Introduced Entity must provide its full security deposit and first month’s fees.
Payments can be made via check and completed within 30 days of invoice date.
Fees are calculated on monthly reoccurring payments for the licensed use of a Private Office(s) or Dedicated Desk(s).
For committed terms of 12 months or greater:
10% for months 1-12 & 2% on months 13-36
For committed terms under 12 months:
10% for months 1-12
For month-to-month terms, the broker will be paid 10% each quarter for the first 12 months and 2% thereafter.