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Personal Property

Our Personal Property Policy is very important to review and know as if any of these conditions aren't met our E&O (Errors & Omissions) Insurance Provider will not cover anything related to that transactions. 

AUTHORIZATION FOR PERSONAL PROPERTY TRANSACTION

Keller Williams ELEVATE agent (s) agree that I/We have read and understand the company policy of the purchase and/or sale of property that the agent has ownership of.

AGENT COMPENSATION STRUCTURE:

  • Option 1: Waiving agent commission and will pay the Brokerage a fee of $250 per transaction. Payment will be made directly to the Brokerage and there will be no Company Dollar or Royalty amount taken out. In this case you can put $250 on your escrow letter as the total "commission". That way the title company will send it directly to the office.

  • Option 2: Agent will take the standard commission offered through the MLS and paid to the Brokerage by the Escrow Agent. Company Dollar and/or Royalty will apply and be paid out unless agent is in “capped” status

AGENT OWNED PURCHASE:

Agent agrees to:

  • Disclose in writing Purchaser/Agents Ownership interest in the property “Buyer is a licensed real estate agent in the State of Ohio” on the Agency Disclosure Statement.

  • Disclose in writing Ownership interest in the property “Buyer is a licensed real estate agent in the State of Ohio” on the Market Center approved Purchase Agreement.

  • Written property inspection report completed and issued by a licensed home inspector with report being provided to Buyer or a waiver of home inspection completed and signed by Buyer.

  • A home warranty is purchased, provided or waived by the Buyer.

 

AGENT OWNED SALE

Agent agrees to:

  • Disclose in writing Ownership interest in the property “Seller is a licensed real estate agent in the State of Ohio” on the Residential Property Disclosure form.

  • A home warranty is purchased or provided for the Buyer. (Buyer can purchase this on their own, there must be one on the property)

  • Disclose in writing Ownership interest in the property “Seller is a licensed real estate agent in the State of Ohio” in the Comments and Ownership sections of the MLS.

  • Disclose in writing Ownership interest in the property “Seller is a licensed real estate agent in the State of Ohio” in all advertising and marketing.

  • Advertising and Marketing include but are not limited to: For Sale Sign, MLS, Website, Brochures (printed or digital), email, Facebook, print ads, etc.

  • Disclose in writing Ownership interest in the property “Seller is a licensed real estate agent in the State of Ohio” (once the property has an offer) on the Agency Disclosure Statement.

  • Written property inspection report completed and issued by a licensed home inspector is required to have been done by either the Buyer or Seller, with report being provided to Buyer. All other standard compliance documents will also be required.

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