Arena And Company
Policies And Procedures Manual.
If you are going to run any advertisement related to Real Estate you must have the words
ARENA AND COMPANY, Licensed Brokerage on the advertisement and the address or website address of Arena And Company at a minimum. (You Agree to follow FREC guidelines)
If you have your own designs produced by any source other than Arena And Company you must get an authorization letter signed by the Broker of record to use such items.
All associate with Arena And Company understand and agree that they will take full legal and financial responsibilities for all actions related to Real Estate including but not limited to Advertising.
Listings obtained by the associate are able to be transferred to another broker if The 400 Club Member decides to transfer his or her license at any time.
Listings provided by the Broker may not be transferred and will be retained by Arena And Company unless the Broker decides otherwise.
Credit And Background
A Rental Application is required to order a credit and background check.
The Rental Application can be found on your personal company website as well as our Arena and Company website.
Direct you’er customer to fill out the Rental Application and order a Credit and Background check if they can not obtain one on their own.
The Rental Application is assigned to your email address so you get a copy immediately.
It is important you forward the Rental Application to Jrena10@gmail.com when it comes into your inbox as we can not run the reports without this information.
It is $60 for an individual credit and background check and $100 for a Couple.
You will be paid $10 for every person that you run a credit and background check for.
Associates are paid once a month for credit and background checks. Payments are made via direct deposit on the last Wednesday of every month.
We do not offer refunds for any reason however, you can personally offer a refund and deduct it from your commission if you choose to.
Arena And Company does not hold escrow deposits for sales.
The Title Company facilitating the closing will hold any escrow deposits for sales transactions.
We hold deposits for Rental transactions for our associates.
We highly encourage you deposit clear funds like cash, cashiers checks or money orders only and THE REMITTERS NAME MUST BE ON THE CHECK OR MONEY ORDER.
Bounced or canceled checks deposited into the Arena And Company escrow account will cost the agent who deposited the checks $50.00 per check and this fee is subject to change based on the banks fees.
You will be supplied an account number to Bank Of America and can drop deposits at your convenience.
A Deposit Verification Form MUST be filled out the same day the deposit is made.
You can find the Deposit Verification Form on the agent dashboard.
Save the link to this form to your home screen on all your mobile devices as well as your computers desktop for easy access. Feel free to ask for assistance setting this up.
A Transaction Fee of $295.00 is to be charged to any buyer or seller that closes a transaction with Arena And Company.
If the customer is not willing to pay the fee or you are working with a family member or the purchase is for yourself then the fee will be reduced to $99.00.
400 Club members keep 100% of their commission after they pay their monthly membership fee.
400 Club Members pay a flat fee of $400 a month if they do a deal.
We operate on a 50/50 Split until your $400.00 monthly membership fee is paid. If you do not make money one month, you pay nothing for that month and the $400.00 does not roll over to the next month!
Incentives and bonuses offered are yours to keep, unless the lead is provided by the broker.
All leads provided by Arena And Company will have an individual commission agreement signed by all parties in reference to that lead provided by Arena And Company.
A Disbursement Order Form must be completed in order for funds to be disbursed.
Disbursement Orders can be found on the Agent Dashboard.
The funds must be verified and cleared prior to us fulfilling the Disbursement Order.
If an escrow check will need to be cut to a co-operating Brokerage or Landlord, the money must be cleared in the bank prior to being disbursed and the Disbursement Order must be sent at least 48 hours in advance to the General Manager or Broker.
We will try to meet your needs if an emergency comes up, however, If the funds have not cleared a check can not be cut under any circumstances.
Policies on Getting Paid
Agents must be set up with Direct Deposit in order to be paid! It takes about a week for the banks to verify your account, it is vital you complete the banking information on the 400 Club Membership Form upon sign up, if not you will be waiting to be paid until your account is verified. If the banking information section of your 400 Club Member Information Form is not completed you may fill out the Direct Deposit Information Form on the Agent Dashboard.
In order to be paid a commission on a Real Estate Transaction you must complete a Disbursement Order and Closing Notification.
You must also turn in the minimum required documentation, which is:
A Sales and Purchase Contract
A HUD/ Closing Statement
You can find the the Forms on the agent dashboard.
Save the link to these forms to your home screen on all your mobile devices as well as your computers desktop for easy access. Feel free to ask for assistance setting this up.
400 Club Members must pay an ANNUAL MEMBERSHIP FEE OF $400.00 PER YEAR to become eligible to receive monthly residual payments from recruits they bring to the The 400 Club By Arena And Company.
400 Club Members must maintain an Active Member Status at all times.
If you leave the company for any reason or lose your Active Member Status, you will no longer be eligible to receive Monthly Residual Recruiter Payments.
400 Club Members with an Active Member Status receive $100.00 a month when the Agent they recruit pays their $400.00 monthly membership fee.
Active Member Status
Active Members must pay an annual Membership fee of $400.00 to maintain an Active member Status
ctive Members are eligible to recruit and receive monthly residual payments of $100 per recruit that they bring to Arena And Company, if the agent they recruited pays their $400.00 monthly membership fee.
Active Members will receive a FREE promotional video produced by Arena And Company once every year to help them grow their Real Estate Busniess.
Active Members must maintain an active Real Estate license and be active members of the RAPB to maintain an Active member Status.
Associate Member Status
Associate Members must maintain an active Real Estate license and be active members of the RAPB to maintain an Associate Member Status.
Affiliated Member Status
Affiliate Members must maintain an Active Real Estate License.