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Ask Asad Rahman Your Own Question
Asad Rahman
Asad Rahman, Lawyer
Category: Legal
Satisfied Customers: 1732
Experience:  Practicing Attorney with 10 years experience
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I am joining a real estate firm as a new agent and a 1099

Customer Question

I am joining a real estate firm as a new agent and a 1099 contracted employee. I am asked to sign a non-compete , confidentiality agreement. It states..
"Restrictive Covenant. For a period of Two (2) years after the termination of employment, employee agrees that any client procured in any way by the efforts of Bentley Properties or Moorhead and Associates team, that any commissions earned from a sale or purchase of real estate a fee of $15,000 for a seller client, and $10,000 per buyer client shall be paid to Bentley Properties."
I am concerned with this covenant because developing client lists and working referrals usually accounts for 70% of your business. I will be splitting a commission split with this firm and feel that the client list should be part of my book of business because of this heavy split. Lead generating will be through both the firms marketing and my efforts. I am looking to amend this contract so that my efforts in cultivating relationships with clients are protected if I decide to leave this organization.
Submitted: 1 month ago.
Category: Legal
Expert:  Asad Rahman replied 1 month ago.
I believe your concerns are very valid. Everything is negotiable. You need to divide it by who actually obtains the client.
Customer: replied 1 month ago.
that was my thoughts. Is this something that your service can provide. I would like this to be written in legal jargon rather that my own .
Expert:  Asad Rahman replied 1 month ago.
There would be additional charges for this type of service.
Customer: replied 1 month ago.
What would the charge be for this?
Expert:  Asad Rahman replied 1 month ago.

$180 to review the contract and provide edits.

Customer: replied 1 month ago.
How can I reach out to you tomorrow or Monday?
Expert:  Asad Rahman replied 1 month ago.

Yes. No problem.

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