Qualified Real Estate Broker / Agents. NYC Office Suites (“NYCOS”) will compensate licensed Real Estate Brokers/Agents in return for the successful introduction and/or referral (a “Referral”) which leads to an executed Service Agreement. To qualify, a Referral must not have been previously introduced to or inquired directly of NYCOS. The Real Estate Broker/Agent Referral Program is reserved for commercial Real Estate Brokers/Agents and residential Real Estate Broker/Agents who are duly licensed and in good standing.
Initial Agreement. Compensation will be calculated at 10% of the fixed rental portion of the Monthly Office Fee for up to the initial Term of the agreement or up to the break (if any), whichever is sooner.
Multiple Years. Additional compensation for multiple-year agreements will be calculated at 2% of the rental portion of the Monthly Office Fee for months 13-36.
Payment. NYCOS will promptly pay referral fees, usually within 30 days of receipt of an executed Service Agreement and the initial invoice payment. All commissions will be made payable to the brokerage company and not to the individual Broker/Agent. If a client defaults during the term of the agreement where a payment for commission has been made, NYCOS may invoice the Agent/Broker for the pro-rated commission paid for the term the client is in default or deduct that amount from a future payment.
Registration. Real Estate Brokers/Agents must refer prospects through a NYCOS team member, the NYCOS website or any other NYCOS-approved mechanism. In the event that two or more Real Estate Brokers/Agents refer a prospect, NYCOS will accept the first referral received, unless instructed to do otherwise by the client. NYCOS reserves the right to reject a referral to the extent the customer applied directly or was referred previously through another Real Estate Broker/Agent. From time to time, NYCOS will accept the first referral received that demonstrably results in a facility tour and/or transaction, at NYCOS’ discretion.
Notice. NYCOS will endeavor to notify the referring Real Estate Agent of any rejections. Submission of a referral to NYCOS indicates acceptance of our terms and conditions. NYCOS reserves the right to amend or terminate this policy at any time without prior notice.