Policy & Procedures

1:1   Purpose of Policy and Procedures.  The policies and procedures contained herein are provided in order to establish the standard operating procedures of Coldwell Banker Riviera Realty, Inc.  The Company Policy & Procedures Manual (P&P) is to be used as a guide in conducting your day to day operations as a Manager, Associate or Employee of the Company.  The Manual provides a clear understanding of standard practices and procedures designed to minimize problems & misunderstandings while guiding the activities which will enhance efficiency, productivity and profitability.  This manual is intended to serve as a living document which defines our business practices.  It should be frequently  consulted, often reviewed, and revised as changes in industry and market norms occur. 

1:2  Revision.  The right to amend or revise any content in the P&P Manual is reserved for the Broker on an as needed basis.  Any amendment or revision shall be promptly disseminated and reviewed during management and office meetings.  It is the responsibility of each Associate to keep abreast of all P&P changes and to fully understand the business practices set forth herein.  Absence from any meeting discussing changes to policy does not provide an exemption to any Associate from these responsibilities.

1:3  Recommending Changes.  Everyone in the Company is encouraged to offer suggestions on issues they believe will improve our business practices.  Suggestions should be submitted by email to senior management via the office manager.  Suggestions should state the issue or problem, the reason the change or addition to policy or procedure is needed, and a recommended solution.   When thinking about solutions keep in mind that CBRR offices sometimes operate in unique market demographics and a solution needs to benefit every office.  

This Company and every Associate and Employee conduct business in complete accordance with all Law, The New Jersey Real Estate Act, The New Jersey Real Estate Commissions Rules & Regulations and the National Association of REALTORS® Code of Ethics. Simply defined, the word “Ethics” means moral principles and quality of practice.  In the real estate business, ethics govern our professional relationship with our prospective buyers and sellers and with our fellow REALTORS©.  Each Associate in this Company should read the Code of Ethics established by NAR after each annual revision.  Some of the Standards of Conduct that everyone associated with the Company should be guided by include:

✯  We practice the Golden Rule  “Do unto others as you would have them do unto you.” 

✯  Every Associate and Employee must conform to and abide by all laws, ordinances, rules and regulations, and codes of ethics that are binding on, or applicable to the Company.  

✯  The Coldwell Banker Identity Standards must be strictly enforced and complied with.

✯  Inducements.  The Company has very definite rules against inducements.  An inducement is a substantial promise in order to persuade an owner to list, or a buyer to purchase.  It is unethical for an Associate to promise to offer to a buyer or a seller any inducement that would violate any code, rule, regulation or statute, or in any way be detrimental or misleading to the parties involved.

✯  We speak only for ourselves and not for others.  We refrain from giving advice or voicing an opinion to the clients of others. 

✯  We do not burden other agents by involving them in squabbles or disagreements.  Disagreements are best resolved, to the good of the entire team, when they are kept between the disagreeing parties and when necessary, management. 

✯  No one person is more important than the entire team.  We must always subscribe to the philosophy that by helping each other we help ourselves and everyone on the team benefits. 

✯  Building coalitions within the Company or the office to further ones personal agenda will not be tolerated by any of us.  We don’t talk negatively about fellow team members and we realize that negativism is not in the best interest of anyone.  

✯  We will not knowingly solicit the customer or client of any other agent affiliated with our company without first obtaining the permission of that agent or as otherwise directed by management.

✯  Business discussions having the potential to be detrimental if overheard by a customer or client shall not occur in an open forum, we take such discussions into the privacy of a conference room. 

✯  Every agent from every company is an important business resource.  We treat everyone with professional respect and courtesy.

✯  The personal vehicles used by Associates should be kept neat and clean at all times.  

Drug and alcohol use are strictly prohibited while engaged in real estate brokerage transactions and shall not be present or used during work hours unless medically prescribed and under the supervision of the Associate's health care provider. Any situations in which duties cannot be properly performed without the assistance of prescribed medication must be reported to the Broker.  The abuse of drugs and alcohol in the workplace may be grounds for termination. 

Client or Customer Substance Use.  An Associate should also discourage the use of drugs or alcohol by any party during a transaction. Upon discovering that a party is under the influence of either drugs or alcohol, the Associate should take appropriate action to terminate that day's activity and suggest that they discuss or complete the transaction another time.

2:3 Discrimination.  Upon any alleged illegal discrimination the Broker will conduct an investigation.  If in the opinion of the Broker the investigation confirms such discrimination occurred, the subject individual/s affiliation or employment will be terminated and the finding of the Broker will be reported to the appropriate regulatory entities. 

2:4 Workplace Harassment.  Harassment in the workplace will not be tolerated.  The term “Workplace” means at any location or during any activity associated with the Company.  This includes but is not necessarily limited to the office, the Board of REALTORS®, Company events, as well as the domiciles of customers, clients, and coworkers.  Types of harassment include verbal, physical, visual, written, religious, and sexual.  Behaviors which can be considered unacceptable harassment include:   

• Jokes, slurs or insults of a racial, ethnic, sexual, or religious nature. 

• Any physical contact such as unwelcome touching, groping, grabbing, or pinching 

• Any visual renderings of sexually suggestive materials or materials negatively reflecting an individual's ethnicity, race, ancestry, or sexual preference.  

• Any unwelcome sexual advances, physically, verbally, and visually of a sexual nature that has a purpose or effect of work performance interference, intimidation, or hostile/offensive working atmosphere.

 In the event an Employee or Associate feels that he or she has been harassed, the incident must be reported immediately to the office manager or to senior management.  The anonymity of the accuser, as well as the accused, shall be held in confidentiality.  An investigation will be conducted.  If the allegation involves the manager or Broker as the accused of such action, an outside investigator may be retained.  Retaliation against complainants is strictly prohibited. Any Employee or Associate found to have engaged in harassment may be subject to disciplinary action up to and including reprimand, counseling, suspension, and termination. 

2:5  The New Jersey Law Against Discrimination makes it is illegal to discriminate against any person because of race, creed, color, national origin, sex, marital status, affectional or sexual orientation, familial status, actual or perceived physical or mental disability, ancestry or nationality:

• In the sale or rental of housing or residential lots

• In advertising the sale or rental of housing 

• In the financing of housing 

• In the provision of real estate brokerage services 

• In the appraisal of housing. 

Prior to accepting a seller’s authorization to list a property for sale, every Associate must provide the sellers/s the CURRENT Memorandum from The Attorney General of the State of New Jersey on the New Jersey Law Against Discrimination and Federal Fair Housing Laws and Presidential Executive Orders.  This Memorandum is reissued, and may be revised, whenever there is a change of Attorney General.  Should an individual indicate they will not abide by the Attorney General’s Memorandum, then the listing shall not be accepted.

When faxing or emailing a listing agreement, special attention must be given to ensure the most recent Attorney General Memorandum, found on the reverse side of the listing agreement, is included in the fax or email transmission.

Name Changes .  Real Estate Licensees must conduct business using their first and last name exactly as it appears on their license (excluding a middle initial).  Should an Associate desire to change the name under which they conduct business they must first comply with the requirements imposed by the NJREC.  Should a Licensee apply for a change of licensed name, they must immediately inform the Broker via their Manager.  

Once a license is issued under the changed name, the Broker and Associate will execute a new Broker Salesperson ICA.  The Office Manager will cause all records and systems bearing the Licensees name to be updated as well as ensure that the change of name is reported to the organizations of all memberships required hereunder.

Change of Address or Contact Information.  Contact information includes home and cell phone numbers, mailing address, primary residential address, and email address’s used by the Associate in advertising or contact with customers, clients, other licensees and the Company.  All changes in  address and contact information must be reported immediately by the Associate to the Office Administrative Staff who will cause all records and systems to be updated and report these changes to the local Board/Association of REALTORS®.  The Associate shall immediately change the appropriate contact information on all printed and electronic media, including the MLS records for any system in which they participate.  The Associate shall be responsible for any fees associated with address and contract information changes which may be charged by any regulatory agency, association, vendor, or multiple listing service.

First impressions matter.  The entire team is often judged by the appearance and actions of one individual.  Everyone at CBRR must take pride and accept the personal responsibility to present a professional image in both appearance and conduct. Keep in mind that your dress and appearance should be guided by how potential clients expect you to appear.   

•  If you are to be in the public eye you should be well groomed and neatly attired.  In general, this means conservative dress (business casual) rather than trendy fashions and accessories.  Make-up, perfume, cologne, and jewelry should be worn tastefully.  Extremes in dress such as flashy, skimpy or reveling outfits and other non-business-like clothing are not permissible. 

•  Avoid behavior and language that may offend the public.  The use of profanity in the presence of others is never appropriate.  

•  Smoking.  The term “smoking” also applies to vaping.  Avoid smoking in the presence of clients.  Keep in mind that many non-smokers are sensitive to the odor of tobacco and may even find it offensive. All CBRR facilities are operated in a smoke-free environment. 

•  Associates are expected to keep his/her desk and work area neat and clean in order to present a professional image to all visitors.

All records, as well as conversations between Associates, Broker and Associates, and Associates and parties to the transaction, are considered confidential.  Unless otherwise provided for herein, no files shall be removed from the office without the permission of management and no other information obtained while working for this company shall be used to the detriment of the Broker or CBRR.  All Associates shall also be obligated to honor the confidential information of any client or non-client party to any transaction, as designated in writing on the Consumer Information Statement or other document.

All records, as well as conversations between Associates, Broker and Associates, and Associates and parties to the transaction, are considered confidential.  Unless otherwise provided for herein, no files shall be removed from the office without the permission of senior management and no other information obtained while working for this company shall be used to the detriment of the Broker or CBRR.  All Associates shall also be obligated to honor the confidential information of any client or non-client party to any transaction, as designated in writing on the Consumer Information Statement or other document.

• Legal Action.  Decisions to pursue legal actions including attempts to collect commissions rests solely at the discretion of the Broker.  No one, other than senior management, may at any time threaten litigation. 

• Mediation and Arbitration.  The decision to pursue mediation or arbitration pursuant to Article 17 of the NAR Code of Ethics is solely at the discretion of senior management.

• Ethics.  Anyone may file and pursue an ethics complaint, pursuant to Article 17 of the NAR Code of Ethics, provided they first seek the advise and counsel of Management.  

• Lawsuits and Threats of Action Against The Company or Associates.   If an Associate is sued or threatened with a lawsuit or administrative action in conjunction with a real estate transaction the Associate shall immediately notify their manager.  The manager shall immediately secure all associated records and notify senior management.  Senior management will then assess the risk and decide if submission to the Errors and Omissions insurance carrier is warranted.  In all such cases, the cost to defend or pursue an arbitration or a litigation, excluding the payment of insurance deductibles, shall be shared between the Company and the Associate and shall be proportionate to the Associates commission split at the time the commission was paid, or would have been paid.  Shared expense shall be deducted from all earned commissions received by the company prior to split with the Associate.  Should a shared expense exceed the earned commission, Associate shall pay their portion of the shared expense to the Company.

The Company does not object to Employees and Associates buying or selling real estate either as individuals or as members of a syndicate, group or LLC.  When real estate licensees are involved in the purchase or sale of real estate they must inform all parties (sellers or buyers and their agents) that they are a “licensed real estate salesperson with Coldwell Banker Riviera Realty, Inc.” and this must also appear in the purchase contract.  Employees and Associates desiring to make a purchase offer on any real property must provide the purchase offer to management prior to presenting the offer.  Earnest monies and first deposits shall be given to management prior to the presentation of the offer.  The purpose for this is to ensure that there are no conflicts of interest requiring disclose, which the Associate purchaser may not be aware of.  When acting as a listing agent on personally owned property, the listing agents ownership interest shall be disclosed in the MLS non-public remarks or a field within the MLS designated for such disclosure.  

Should an Associate list their personal real property, the listing agreement shall be signed only by senior management, or by the office manager on behalf of the Broker.  In no instance shall an Associate sign listing documents on behalf of CBRR on any property to which they hold an ownership interest. 

For Sale By Owner of real property owned by Associates which is located within the primary marketing area of CBRR is forbidden.  CBRR is in the real estate brokerage business, and such activity possess a clear conflict of interest.  It also sends a message to the public that validates FSBO’s and weakens the public perception of the need for the services of real estate brokerage companies.

Waiver of Company Commission.  The company shall waive a portion of it’s earned commission when a real property is purchased or sold by an Associate (including commissions earned through referral) provided the Associate (which may include their spouse or significant other) is  the sole seller or purchaser of the subject real property.  In such instances, the Company shall waive one-half (½) of the net commission due the Company after split (Company Dollar) on the side in which the Associate is involved.  No commission shall be waived on the side in which the Associate is not a participant, even if CBRR is the broker on the other side.  No commission shall be waived which would benefit a corporation, a business, a partnership, or commercial venture.  This policy is limited to three transactions per calendar year.  In the case of married or civil union Associates, the three transaction limitation shall be applied jointly. 

Associates and Employees shall not give legal advice.  This includes but is not limited to advice in regard to the legal rights of the parties, the legal effect of notices and instruments, and matters affecting title. The Associate may explain the preprinted provisions of the Listing Agreement, Purchase Offers, Buyer Agency Agreements, and all other approved documents the parties may be asked to sign.  When answering the questions of clients which may be perceived as legal advise, it must be made clear by the Associate that only attorneys can provide legal advice. 

Tax advise shall not be given to any party.  However, Associates may mention current tax incentive programs, or the broad tax benefits of home ownership.  It is always a good practice to provide a printed (or electronic link to) brochure or document pertaining to the tax program or incentive.  However whenever any discussion pertaining to the taxes a person may or may not pay, the Associate MUST advise the party that they should consult an attorney, accountant, or other person having tax expertise to determine how it pertains to them.

Personal Automotive Insurance.  Each Associate shall be required to carry personal automotive liability insurance.  The minimum amounts of coverage contained in the Broker-Associate Independent Contractor Agreement. 

Errors & Omissions Insurance.   The Company shall carry Errors and Omission Insurance and all Associates shall be charged an E&O Insurance premium on each transaction closed as specified in Appendix B.    The decision to file an claim with the E&O carrier shall be the sole discretion of the Broker of Record, Dean R. Smith.  Should an E&O claim be filed, the Associate shall be responsible for payment of the deductible at same rate as that of their percentage of the commission split.   

Workman’s Compensation Insurance.  Work shall not be contracted by CBRR to any business, person, or entity who does not carry a valid Workman’s Compensation Insurance Policy.  Proof of coverage must be provided prior to entering into such agreements and such proof shall be sent to the Accounting Department for retention. 

The following regulatory publications will be maintained in every office.  Maintained means readily accessible either by printed or electronic media.

• New Jersey Real Estate Statutes and the NJ Real Estate Commission Rules as An electronic file containing NJREC issued Memorandums.  

• The National Association of REALTORS® Code of Ethics which are revised Annually on January 1st.  

• The Monmouth Ocean Regional REALTORS® Bylaws which are reviewed annually and revised as needed for those offices who have primary members in that Association.

• The NEXUS Association of REALTORS® Bylaws which are reviewed annually and revised as needed for those offices who have primary members in that Association.

• The Rules & Regulations for every MLS for which the office is a participant. Will be available as a link on the Extranet.

In order for the Company to comply with government, legal, and insurance carrier requirements, as well as protect and defend in the event of litigation, all transaction related documents and records remain forever the property of the Company. 

NJREC Rules require all business documents must be retained in the custody of the Company a minimum of six years.  The policy of the Company is to retain all business documents for the current year plus the previous six years.  This includes all paper and electronic documents pertaining to a transaction, regardless of whether they are written by the Associate or others, as well as copies of all contracts, agreements, correspondence (including email, text, and messaging applications) deeds, title policies, mortgage applications, surveys, communication notes and post-it notes shall be retained in the Company Transaction Folder.  The current year plus previous two years must be retained within the branch office.  Older documents may be retained off site as directed by senior management.

Associates are permitted to retain “copies” of transaction documents for their individual business records.  Unless otherwise stated, the following documents will be retained for the current plus previous six years.

• All records associated with accepted purchase offers and contracts that have been accepted by both parties.  This includes those transactions which do not survive attorney review.

• All records associated with accepted leases which have been accepted by both parties.  This includes those transactions which do not survive attorney review.

• All listing documents for those listing which resulted in an accepted offer.

• Although current NJREC Rules require expired listing documents to be retained for only six months, it is the Company policy to retain those records for the entire six year period. 

• All property management agreements and associated records, documents and correspondence.

• Unaccepted offers are those offers not accepted and not signed by all parties thereto.  Although current NJREC requires a six month retention, it is the Company policy to retain those records for the current plus previous year.  

• Electronic Documents.  Upon any transaction reaching a final disposition all electronic documents (i.e. email, PDF’s, correspondence) must be either copied to storage media for inclusion in the transaction folder, or provided the Company staff for electronic storage in a format prescribed by Broker.  

• Destruction. Documents will be destroyed by means directed by the Broker after they have been retained for six years.

• The NJREC Branch Office License is renewed each year and must be displayed framed near the front desk.  The Office Manager is responsible to ensure its display.

• A current name list of all licensees working at the branch office must be displayed near the entrance to the office.  It is the responsibility of the Office Manager to ensure this list is maintained and immediately updated as required.  A template for this is provided in the AC Dropbox folder.  

• An alphabetically arranged loose leaf binder containing a copy of each Associate license.

• The EPA pamphlet “Protect Your Family From Lead Paint in Your Home” must be provided to every buyer prior to making a purchase offer, or non seasonal lease on homes built prior to 1978.  It is the responsibility of the office support staff to ensure that adequate supplies of this publication are maintained in the office.

• The Consumer Information Statement On New Jersey Real Estate Relationships (CIS) must be provided every potential client in accordance with NJREC Rules and Regulations.  It shall be the responsibility of the office support staff to ensure adequate supplies of the prescribed statement are maintained at appropriate locations in the office.

• Non-licensed personnel are severely restricted in what activities they can engage in.  It is the responsibility of the office manager to ensure that all non-licensed staff are trained in and provided the NJREC Notice of permissible and prohibited actions of unlicensed assistants and support personnel.  

There are ongoing and ever-changing regulations restricting the methods by which the real estate industry may use to contact people and businesses.  These regulations range from local ordinances to state and federal laws.  They govern communication methods including the telephone, faxing, email, direct mail, and even door knocking.  Everyone associated with the Company must adhere to the following:

3:4.1. Do Not Call.  Every Employee and Associate must complete training on the Federal Do Not Call Regulations, and the Company Do Not Call Policy.  In order to meet the Federal safe harbor requirements, the company will, from time to time, conduct training which everyone will be required to complete.   

• Company Do Not Call List.  In addition to the National Do Not Call Database, the Company maintains its own list of individuals who have requested that they not be called.  The Do Not Call Registry must be checked prior to calling, and individuals who are on the do not call list with whom a business relationship has not existed in the past 90 days are not to be contacted.  This includes FSBO and expired listings of another broker. 

3.4.2.  Facsimile Restrictions.  In 2005 State and Federal legislation governing unsolicited facsimile advertisements was signed into law. The following applies:

•   Unsolicited advertisement faxing to parties with whom there is not an established business relationship is prohibited.  Advertisement means any document where the intent is to solicit the recipient to obtain or use a product or service.    

•   Every fax sent must under Federal Communications Commission’s Rules display at the top or bottom of each page transmitted or on the first page of the transmission, the date and time that the message is sent, the identification of the business entity or individual sending the message and the telephone number of the machine sending the message.

3.4.3  Email Restrictions.  Brokerage business email sent by Associates must always have the company name and office phone number contained as a header, or a footer, or as part of the signature.  The font size must be as predominant as the font used for the Associates name.  Email is subject to Advertising Rules of the NJREC. Solicitation email must contain an opt-out provision as required by the “Can Spam” Act.  Email addresses must be tasteful.  Any email address which in the opinion of management may present an unfavorable impression of the Company or its Associates will not be permitted to be used in any business correspondence.

3.4.4  Direct Mail Restrictions.  Occasionally people register their name with various entities (Do not mail lists) in order to opt out of receiving direct mail.  Indeed some of the MLS Tax databases contain “Do Not Mail” annotations on the property records.  While sending mail such as just listed cards does not violate the law, it clearly violates the recipients wishes.  Therefore we believe that knowingly sending a mailing to an individual who has expressed a desire not to receive it is a poor business practice and should be avoided whenever possible. 

3.4.5  Door Knocking Restrictions.   Many municipalities have adopted “Do Not Knock” ordinances or “Do Not Knock Registries” which prohibit knocking on doors for the purpose of soliciting.  The Company recognizes that door knocking is a valid way to obtain listings, enhance farming productivity, and market open houses and therefore does not want to discourage such activity.  However, prior to knocking on any door, Associates must first check with local government agencies and determine that such an activity does not violate any law.

All licensees are required to remain members in good standing in the following:

• The National Association of REALTORS® (NAR)

• The New Jersey REALTORS® (NJR)

• The Local Association/Board of REALTORS®.  Associates may choose to join any Board/Association in which the Broker holds membership.  Associates can also join other Boards/Associations as a secondary member if the Broker holds no membership in that particular Board/Association.  Typically, Associates will belong to either the Monmouth Ocean Regional REALTORS® (MORR) or the NEXUS Association of REALTORS® (NEXUS).

  • CBRR Offices with MOOR Primary Membership: Brick, Point Pleasant, Toms River, Forked River and Tuckerton.  

  • CBRR Offices with NEXUS Primary Membership: Ship Bottom.

3.5.1   MLS Memberships.   MLS Memberships.  Associates must be a member of the MLS in which the office participates as a primary member.  A list of all multiple listing services in which the company and its offices participate is contained on the Resources Section of the Extranet.  Should an Associate desire to become a participant in any MLS of which the office is not a participating member, they may do so provided the Broker of Record is a member of that MLS, the Associate complies with all membership requirements imposed by that MLS, and the Associate accepts responsibility for the payment of any dues, fees, or fines associated with their participation in the MLS. 

Associates must maintain the minimum continuing education requirements promulgated by the Real Estate Commission.  The Company shall keep Associates informed of the requirements on the Company website in the Resources Section of the Extranet.    

RESPA is a federal statute enacted by the U.S. Department of Housing and Urban Development (HUD) to govern the real estate settlement process of one-to-four family residential properties by mandating all parties fully inform borrowers about all closing costs, lender servicing and escrow account practices, business relationships between closing service providers and other parties to the transaction.  RESPA generally prohibits payment of referral fees, unearned fees or kickbacks, as well as the splitting or sharing of fees or charges made or received for providing "real estate settlement services.  There are instances wherein the providing of food at a brokers open house by a mortgage loan officer would constitute a violation of RESPA.  Therefore, Associates shall not accept gratuities, or enter into any form of a business relationship or agreement with service providers without the expressed permission of management.  

Often a designation requires an annual fee in order to maintain the designation.  Designations must be current or they are not to be used.  Designations which are exclusive to a competing real estate company or franchise are not to be used while affiliated with CBRR.  The use of “Million Dollar Club” or “Circle of Excellence” must fully abide by the Rules of New Jersey REALTORS©  which may be found in the Awards and Recognition Section of the Extranet or on NJR website (coe.njrealtor.com)  NAR recognizes many designations. NAR recognizes many designations.  Information can be found on the realtor.org site at Family of Designations. 

4:1   Office Business Meetings.  Managers will schedule and conduct office business meetings on an as needed regular basis.   Associates are expected to attend Office Meetings.  These meeting are extremely important. Wherever possible, appointments should not be scheduled during meeting times.  Agents who are unable to attend meetings miss learning important information about Company & office policy, industry and market changes, training, and general information important to all of us.  If you are not aware of the information put out in these meetings, you are doing a disservice to yourself, and your colleagues.  If you cannot attend a meeting for a legitimate purpose, ask someone to take notes for you. 

4:2  Company Meetings.  From time to time the Company will conduct company-wide business meetings either in-person or online.  Company events are posted on the Company Calendar.  Meetings of significant importance will require attendance by all Associates. 

4:3  Management Meetings.  Regular monthly meetings will generally be held on a fixed day of each month as specified by senior management.  Special meetings will be held at a time and location designated by senior management.  

•  Attendance is expected unless otherwise excused.  Participants should be seated and ready to conduct business at the time specified.  

• Agenda.   A suggested Agenda will be accessible for all meeting participants on Google Drive and accessed via the Manager Resources Page on the Extranet.    Participants are encouraged to make agenda suggestions.  Prior to the meeting, senior management will review and finalize the agenda.  On most occasions an agenda will be finalized at least two days prior.  In order to more fully contribute at meetings, participants should periodically review suggested agenda items. Participants may submit topic requests to senior management via email.  The request should include the topic, purpose for discussion, suggestion, and the desired result. 

From time-to-time the company will convene the RAAC.  The purpose of this group is to function as a liaison between senior management and their respective offices for the purpose of assisting in the analysis, development, implementation and advancement of Company objectives, as outlined by senior management.  This forum is not intended to function as a conduit for complaints.  Suggestions to improve the company are welcome and should first be articulated to the office manager or submitted directly to management via email.  

• Selection:  Must be a full time Associate selected by majority vote of the office Associates to serve. 

The Company shall establish and maintain a CBRR Portal site which due to its unique content and accessibility shall be called the Extranet.  Content shall be posted as directed by senior management.  The purpose of this site shall be to facilitate communications and provide a means by which Associates may access Company forms, policy, graphics, systems, calendar of events, municipality and community information, training opportunities, and serve as a gateway to many other resources. It is intended to be a complete information and resource center.   

The Company’s preferred method of communication is email. 

Email Lists.  The Company shall maintain a master roster of all Associate email addresses on an Excel spreadsheet.  Each Office Manager shall maintain a master office email address list in an Excel format as prescribed by the senior management and report all changes in a timely manner.  At a minimum, managers shall in January, April, July, and October verify the email address of all Associates & Employees.  

The preferred method of delivery is by courier.  In the absence of a courier the method of sending interoffice mail shall be by the U. S. Post Office. Office to Office mail shall be by regular U. S. Postal mail, courier, or in extreme circumstances by overnight or priority mail. 

No appointment is necessary for an Associate to speak with the office manager.  Office managers shall encourage communication with Associates and maximize accessibility.  Associate questions regarding policy and procedures should first be directed to the office manager.  Senior management welcomes the unsolicited comments, suggestions, and opinions of every Employee and Associate.

Because of the diversity of the market which the offices service, individual office hours may vary.  In general mainland offices will be open from 9:00 A.M. until 5:00 P.M. Monday through Friday.  Long Beach Island offices will be open from 9:00 A.M. until 5:00 PM daily and on weekends.  The office manager with the approval of senior management will establish the routine office hours.  

Holidays.  Unless otherwise directed by senior management:

Mainland offices will be closed offices will be closed on New Years Eve, New Years Day, Martin Luther King Jr. Day, President’s Day, Easter Sunday, Memorial Day, Juneteenth, Independence Day, Labor Day, Veteran’s Day, Thanksgiving Day, Christmas Eve and Christmas Day.  

Long Beach Island offices will be closed on Christmas Day, New Years Day, Easter Sunday, Thanksgiving Day and on Independence Day (unless it falls on a weekend).

Inclement or Emergency Conditions.  On such occasions offices may close entirely, close early, or open late.  Unless otherwise directed by senior management, the decision to delay opening or close early rests with the Manager.  The manager shall institute a system by which notification is made in a timely manner to effected individuals and shall include senior management.  Company-wide notifications shall be made by eMail.

The office is a place of business.  Each Associate is entitled to respect and must be allowed to conduct their affairs in a businesslike environment free of  unnecessary interruption.   Having some fun has it’s place, however it should not interfere with the ability to conduct business.  Noise should be kept to a minimum and ear buds or headphones should be used to listen to computer audio.  Most of us love and enjoy our pets while others may be allergic to them.  The presence of pets in the office does not properly portray the professional image we want to reflect to our clients. Please refrain from bringing pets into the office.  Bringing children into the office once in a while is completely appropriate.  Bringing children to business meetings, open houses, listing appointments, or to business appointments with clients is not.  Work spaces should be keep neat and organized and reflect a favorable impression on all of us.    

Everyone is responsible for the safeguarding of the office and the contents therein.  The office manager will cause to be posted a checklist of office security issues.  The last person leaving the office is responsible to ensure that access into the office is secured and that all issues on the Security Checklist have been complied with.  The Broker shall not be held responsible for any theft or loss of personal property from the office.   

• Office Keys.  In the event that an office key is lost or stolen, you must immediately inform the Office Manager. There will be a charge for the replacement cost of lost or stolen keys.

• Office Key Procurement.  Keys should be procured from the approved vendor.

The Company does not indemnify Associates or Employees for the loss of, or damage to, any personal property.  Personal property means any property not owned by the Company.  Associates and Employees are encouraged to consider this risk when choosing personal insurance coverage (i.e. homeowners insurance) options.   

Exception for Catastrophic Loss.  Should a catastrophic loss occur, the Company shall, within the limitations of its insurance coverage, seek recovery on behalf of Associates and Employees.  Associates/Employees may, at the discretion of Dean R. Smith, be required to share in the cost of insurance deductibles.  A declaration of catastrophic loss is determined at the sole discretion of Dean R. Smith. 

The term smoking includes vaping.  Smoking is never permitted inside the office.  The Office Manager shall designate an outside smoking area.  The area shall not be in close proximity to the main entrance.  Cigarette/Vape butts must be placed in a container and never thrown to the ground.  The smoking population of the office should keep the smoking area, including the butt container, clean. 

5:6.1  Telephones.  Telephones.  Talk about first impressions; telephone greetings are critical.  Prospects are deciding whether or not to do business with you.   Incoming calls should be answered promptly.  Whoever receives the call owns the call until such time as someone else takes it.  NEVER leave anyone on hold for longer than 30 seconds.  Reestablish dialog and ask if they care to continue to hold. 

Answering Dialog.  A pleasant phone greeting is essential to a successful call because it sets the stage emotionally.  The key elements of a telephone greeting are the company name, your name, and an offer of assistance.  Keep it short.  The person receiving the call is requested to say: “Coldwell Banker Riviera Realty, this is Mary Doe, how may I assist you?”  If the party is an inquiry from a sign or ad or just a request for a CMA, always ask: “Are you now, or have you in the past worked with a Coldwell Banker Riviera Realty agent?” or“Is there anyone in particular with whom you would like to speak?”  This assists in the prevention of inadvertent interception of someone else’s prospect.  If the party is calling for an Associate who is out of the office, refer to the office roster/phone list and direct the call accordingly.  The phones are not to be used for personal long distance phone calls.

Phone Extensions: All Associates will be provided a phone extension number which shall be programmed to forward to their mobile phone if the call is not answered in the office within 12 seconds.  The caller I.D. displayed on the Associates Mobile Device will be that of the caller.  

5:6.2  Copy Machines. All black and white copying an faxing necessary to facilitate a transaction, or for the general business use of the Associate will be provided by the company.  Associates are encouraged to connect their personal devices to the copier, however Associates and Employees are not to use the copier for personal (non-brokerage business related) use without the prior approval of management. 

Associates and Employees are not to sue the copier for personal (non-brokerage business related) use without the prior approval of management.  

Color Copies.  Associates  are entitled to make color copies for a specific client or customer (i.e. CMA, MLS Feature Sheet, Listing Presentation, Buyer Presentation) and shall not make color copies for use in promotional mailings or marketing without the prior approval of management.  Associates may make an appropriate number of open house flyers (approximately 15).  

5:6.3  Computers and Networking Resources.  Computers are provided by the company exclusively for use in real estate related business activities.   Every office will be fitted with a functional wireless internet broad band connection.  

• The number of computers in any given office is limited to what is necessary in conducting the normal course of business.  Therefore there will be occasions where the Associate needs for computer resources exceeds availability. 

• Associates and Employees are not to download or upgrade any type or form of software without the prior permission of management.

• Any duplication of copyrighted software, except for backup purposes, is a violation of the Federal Copyright Law.  All software installed in the information systems owned or operated by the Company must be pre-approved by senior management.  Broker will not tolerate any Associate making or importing unauthorized copies of software or data.  Likewise, Broker will not tolerate any Associate conveying Company owned or licensed software or data to an outside third party, including clients, members, customers, or associates in other companies, without proper written authorization.  

• Surfing the internet posses security and functionality risks to the computer and therefore Company owned computers are not to be used for non business related internet activities.

• Everyone affiliated with the company is authorized to connect to either business or personal internet based email accounts.  

5:6.4  Printers.  No personal printing of non-business related materials.  The printers provided by the Company are for the exclusive purpose of printing documents related to revenue producing activities within the following limitations.   Printers are not to be used for the mass production of color property fliers without the prior approval of management.  Mass production means more than 25 fliers on any given property within a thirty day period.  Associates should opt to print in black ink only or gray scale whenever practical.  

5:6.5  Copy/Printer Paper.   The Company does not supply paper products for home use.  The removal of paper products from the office for use outside of the office is considered theft of Company property.  

5:6.6  Computer Related Equipment Failures.  Computer, Printer, Network or peripheral failures are to be reported to the office manager.  The office manager will in return notify the vendor responsible for maintaining Company equipment.  Email notification of failures of company I.T. equipment shall be made by the office manager to senior management. 

5:6.7  Use of Associate Owned Computers/Mobile Devices.  The use of personally owned computers, in particular, laptop/notebook computers is highly encouraged.  All personal computer must have installed anti virus software.  Such software must be updated.  Computers that do not have active anti-virus software properly functioning are not to be connected to the company network.   

 Conference Rooms & Common Areas.  Generally the use of conference rooms and common areas is on a first come first served bases.  However the use of conference rooms to facilitate a closing shall always have precedence.  Associates should ensure that the conference room and common sue areas are  always left in a “Ready for Business” state.  Remove trash, scrap paper, and materials.  Straighten up the room and wipe down the table if necessary.  Keep in mind how important first impressions are.  You may be the next person who has to bring a client into the room.

There shall be two types of filing & information systems, paper files and electronic files.  

Electronic Files.   The Company maintains a comprehensive portal system to include an Extranet, electronic transaction management and online forms using ZipLogix (ZipForms).  The CBRR Extranet shall be available to all CBRR Associates from any internet connection 24 x 7.  The Extranet shall house all forms (the Darn Drawer) needed to conduct business.  The majority of forms shall be in a fillable and printable.  It will also house and make available popular documents, presentation and marketing materials, graphics, market statistics, a calendar of events, and a vast array of reference and training materials. 

Paper Files.  Each office shall maintain a standardized file drawer (The Darn Drawer) containing the forms and documents used Company wide (See Appendix G).  Each file folder will be numbered and correspond to the Master Drawer Table of Contents.  Office specific forms authorized in 5:8 should be housed in a separate drawer, or may be housed in the Company Standardized drawer, provided they are filed as suffix to the appropriate folder.  For example, the file containing Listing Agreements (#1) may have a sub-folder (#1A) which contains an authorized addendum to the Listing Agreement.

Transaction Folders.  Transaction Files for the current plus previous two years will remain stored onsite at the office.  Transaction files for earlier periods will be stored as directed by senior management.  Active listing folders and pending transaction folders shall be stored by street address in their own unique filing cabinet space. 

5:8.1  Forms.  In order to limit the quantity and redundancy of paperwork, the company has established a policy on the use of standardized forms.  Each form is designed to accumulate information needed by various people and departments in performing their job tasks.  Therefore, it is critical that each form be completed accurately and in its entirety.  This will eliminate the need for different departments and offices creating additional paperwork in order to obtain critical information.  Avoid abbreviations, they are not always understood at different offices, or in different departments.  The General Manager is responsible for maintaining a list of all Company and copyrighted forms and Publications.  Forms & Publications are classified into three types:

1.  Company Standard Forms.

•  The use of these forms is mandatory and no form may be created to replace or supplement a company standard form without the prior approval of senior management.

•  Every form must have the creation or revision date printed at the bottom right corner, this will provide a method to ensure that only current forms are utilized.

•  An index of all forms is located in Appendix G which includes the forms purpose and  the latest revision date. 

•  When new forms are created, or revised, a notification email will be sent to everyone in the company.  

2.  Office Forms

•  Office forms are intended for use in those instances where no Company form is available and the use will not benefit other offices or the Company.  Office forms should only be created in those instances where there is a clear benefit to the agents, staff, or Company. 

•  A copy of newly created office forms should be sent to counterparts.  They may find the form useful and it can be given further consideration for wider use.

•  Office forms cannot be used as a substitution to an existing Company Standard forms without the prior approval of senior management.  

•  Office forms must have the office location and the date the form was created or revised (ie. CBRR-PP August 10, 2024) at the bottom right of the front page.

3.  Copyrighted Forms & Publications.  Some forms and publications are copyrighted, or should not be reproduced or locally printed.  These forms and their source of supply are listed on the Extranet. 

Form Revision Procedures.  

a.  Revision proposals may be submitted by agents, staff, or management via email.  

b.  Revision proposals shall submitted by agents, staff, or management via email to senior management.  

c.  The proposal must state the form to be changed, what changes are required, the reason the change is needed, and the benefit the company will derive from the change.  

d.  Where practical, a copy of the proposed/revised form should be attached to all requests. 

e.  Copies are to be sent to staff and management personnel who may be effected by the change for review and comment.

Creation of New Forms.  The need for the development of a new form may arise due to the adoption of laws, rules, or procedures.  The creation of a new form should not be considered if a revision to an existing form will efficiently & effectively produce the same result.  Proposals may be submitted by agents, staff, or management.   Submit via email using the same procedures as those specified for forms revision.

The Company will provide postage for transaction related business mail, correspondence to clients, and for property information sent to specific potential buyers when delivery by electronic means is not available.  The expense for the mailing of homes magazines and booklets rests solely with the Associate.  Associates are responsible to provide postage for all mail where the purpose of the mailing is for prospecting, lead generation, solicitation, or marketing beyond that provided by the company herein.  In unique situations and within budgetary limitations the Company may, at the discretion of the Office Manager, share in Associate postage costs for a specific mailing.  The Administrative Coordinator will affix the postage to all mail.

Express/Overnight Mail.  The Company does not provide express mail or overnight mail services.  Every effort should be made to deliver urgent documents electronically.

Office Administrative Staffing.  Each branch office shall have an Administrative Coordinator (AC) supervised by the Branch Office Manager.  The Company shall promulgate a comprehensive AC Job Description common to all offices.   The AC Job Description shall be reviewed annually and amended as necessary.   Managers shall, with the approval of senior management, amend the job description to fit requirements unique to their supervised office.

Not later than January 15th of each year, the Branch Office Manager shall conduct an annual performance review with all administrative staff employed at the office.  The Review shall be conducted and documented on the Employee Performance Review Form.  The Review shall be safely secured to ensure confidentiality is strictly maintained. 

The Approved Vendors List (AVL) is contained in Appendix C.  It contains the business names of the vendors the company conducts business with.  Supplies and services purchased by the Company shall first be ordered from those business on the AVL.  The AVL shall be reviewed and updated as necessary. The authority to order from a vendor not on this list may only be granted by the Accounting Department or senior management.  A link to the AVL will be maintained on the AC and Manager Resource Pages on the Extranet.  

The cost of Associate business cards will be at the sole expense of the Associate. All business cards must conform with the Coldwell Banker Identity Standards and with the NJREC Rules regarding business cards. 

License Status Requirement.  The business card shall state the license status immediately below the name of the Associate. 

For salespersons the license status shall be stated as either “Sales Associate” or” REALTOR®-ASSOCIATE”  

For broker-salespersons the license status shall be stated as either “Broker-Salesperson” or” REALTOR®-ASSOCIATE”  

The real estate commission rules currently restrict the use of the term “REALTOR®” for use exclusively by the Broker of Record.  

The prior approval of management must be received before an Associate pursues the purchases of business cards which are not procured in accordance with the Company Identity Standards  or as otherwise published as approved on the Extranet. 

Except for a reorder of a prior approved proof, the manager must approve the final proof of all business card orders. The use of a current photo and email address is strongly encouraged. At the discretion of the office manager, the Company may provide the first set of business cards for newly hired Associates. In such instances, the Company reserves the right to place any advertising it deems appropriate on the reverse side of the business card. 

The cost of Associate business cards will be at the sole expense of the Associate. All business cards must conform with the Coldwell Banker Identity Standards and with the NJREC Rules regarding business cards. 

License Status Requirement.  The business card shall state the license status immediately below the name of the Associate. 

For salespersons the license status shall be stated as either “Sales Associate” or” REALTOR®-ASSOCIATE”  

For broker-salespersons the license status shall be stated as either “Broker-Salesperson” or” REALTOR®-ASSOCIATE”  

The real estate commission rules currently restrict the use of the term “REALTOR®” for use exclusively by the Broker of Record.  

The prior approval of management must be received before an Associate pursues the purchases of business cards which are not procured in accordance with the Company Identity Standards  or as otherwise published as approved on the Extranet. 

Except for a reorder of a prior approved proof, the manager must approve the final proof of all business card orders. The use of a current photo and email address is strongly encouraged. At the discretion of the office manager, the Company may provide the first set of business cards for newly hired Associates. In such instances, the Company reserves the right to place any advertising it deems appropriate on the reverse side of the business card. 

Under Revision

Below P&P is Under Review/Revision

Lead Management.  Lead Management refers to those leads received by and generated by the Company.  It also includes generation, assignment, delivery to Associates, cultivation, conversion and administration.  Due to the high cost involved in generating leads, it is necessary that the Company establish a system to manage and track company generated leads in order to increase the quantity, quality, and improve the conversion rate. Therefore it is necessary for those Associates who wish to receive Company generated leads to become proficient in the use of the selected lead management systems, and abide by the system procedures.

• Lead Generation.  Leads are generated from a variety of sources which include internet marketing,  printed media, signs, direct marketing, promotions, referrals from affinity groups, referrals from other brokerage businesses and of course, brand recognition.  Most leads are received electronically, telephonically, or in person.  

Every year the Company invests a staggering sum of money in an effort to generate leads.  Due to the high cost involved in generating leads, it is necessary that the Company establish a system to manage and track company generated leads in order to increase the quantity, quality, and improve the conversion rate.  The goal is to increase the income for everyone involved in the process.  Therefore it is necessary for those Associates who wish to receive company generated leads to become proficient in lead conversion skills, the use of the selected lead management systems, and abide by the established lead system business rules.

• Company Generated Leads refers to all leads which are generated as a result of the marketing efforts and expense of Coldwell Banker or CBRR which include all Company placed advertising, signs, internet sites, promotions, realtor.com showcase, etc.    

• Agent Generated Leads refers to those leads which are generated solely by the marketing efforts and expense of the Associate.  Examples include, agent owned websites, agent placed advertising on internet sites (i.e. Trulia or Zillow).

• Lead Categories.  There are two categories of leads, which are those received “electronically” and those received “non-electronically”.

• Lead Management System (LMS).  Refers to the systems or systems used to capture, deliver, prospect (incubate) and track potential customers and clients.   

    LeadRouterSM is the technology used to capture and deliver electronic leads coming to the Company from all sources except those received from the Company website (RivieraRealty.com).  LeadRouterSM is designed to strengthen our ability to rapidly deliver leads directly to CBRR Associates via their Zap Platform.

    Delta Media Group is the provider for the Company website services.   The system used to capture and distribute electronic leads from the Company website is called DeltaNet.  Once a Company lead is captured in DeltaNet and processed by the Agent, it will be entered into LeadRouterSM so Associates will have one system to use in the lead conversion and cultivation process.

    Inquiry Tracking Log.  Is a spreadsheet system used to capture lead source data for all company generated non-electronic leads.  It shall be maintained by the Office Administrative Coordinator and transmitted to the General Manager monthly

• Electronic Leads

Associate Participation.  In order to receive company generated electronic leads,  Associates must agree to abide by the policies and procedures stated herein, and met or exceed the minimum expectations. 

Minimum Expectations.  

Complete Zap training and maintain functional knowledge in its use.

Immediately contact all leads upon acceptance.  If a lead cannot be responded to immediately, the lead should not be accepted.  It shall be returned to the Company for reassignment. 

Report results of first contact, or attempted contact within 2 hours of receipt of all leads.  

Maintain minimum updating and reporting standards.   

General Distribution of Electronic Leads.  In order to receive Company generated electronic leads, Associates must participate in Leadrouter and maintain eligibility.  Leads on CBRR listings will first be offered to the listing agent, provided they remain eligible.  Should the listing agent be unavailable or ineligible the lead will be distributed to the next eligible agent on a rotational basis.  Leads received on IDX listings (listing of other brokers) will always be distributed on a rotational basis to eligible agents.  

Assignment Rotation.  Leads assigned to the rotation will be offered to Associates based upon the business rules criteria assigned.  The business rules include assigning Associates areas which shall be in accordance with the zip codes assigned their respective office in Appendix P.  

Administration.  The General Manager shall be responsible for designating an individual to administer the LeadRouter and DeltaNet systems.  The designated person shall be identified in the key personal chart (Appendix E).  Office Manager shall be responsible for the administration of all leads assigned to agents within their respective offices.  Managers shall monitor leads on a daily basis.

• LMS Presentation to Public.  Remember, buyers are not “leads” they’re people!  Nobody likes to be called a lead.  To our customers and clients, the term LeadRouter should be replaced with the term Rapid Response System. 

As an Associates business grows, there comes a time where they may need to retain personal assistants in order to free themselves of administrative and clerical duties so that they may remain fully engaged in dollar productive activities.  The Company supports the use of personal assistants and recognizes the need to establish a policy that provides both fairness and equity.  Therefore the following policy shall apply.  The Associate who retains the services of a personal assistant shall be referred to as the Principal Associate.  Personal assistants fall into one of two categories, licensed and unlicensed real estate salespersons. 

• Unlicensed persons.  The term “unlicensed person” as used in the context of this policy also refers to licensed persons whose license is not held by CBRR including those whose license is held by Riviera Commercial.  The activities which an unlicensed person may perform are restricted by the NJREC.  Prior to assigning any tasks to an unlicensed person, the NJREC Memo titled “Permissible and Prohibited Actions of Unlicensed Assistants and Support Staff” must be consulted.  Prohibited tasks are not to be assigned or undertaken by any non-licensed individual, including immediate family members.  

• Licensed persons.  Personal assistants rarely attend training opportunities, office meetings, and other forums which keep them fully informed of current real estate related rules, regulations, laws and industry procedures.  It is for this reason that licensed assistants are prohibited from showing properties, negotiating and presenting purchase offers, making listing presentations, taking listings and signing documents on behalf of the Company or of the Broker of Record.  The only exception to these restrictions is when the Principal Associate is out of the area.  In such cases the assistant may perform such duties, provided every individual exception must be performed with the knowledge, approval, and supervision of the office manager.  

Assistant Hiring.  Associates must recruit personal assistants from outside the company.  Associates may NOT recruit, hire, or retain for compensation any CBRR Associate or employee without the advanced approval of management.  Associates may not approach the assistant of another CBRR Associate to retain or discuss retaining their services without the prior approval of the assistants Principal Associate and management.  Personal assistants shall not be entitled to the use of an exclusive workspace or desk.

Meeting and Training Attendance.  Personal assistants are encouraged to attend office meetings and may attend training events with the approval of management.  From time to time, licensed personal assistants may be required to attend mandatory training events associated with regulator compliance issues or related to Company matters deemed essential.  In such cases, any compensation which must be paid to the assistant for their attendance shall be the responsibility of the Principal Associate.  

Assistant Agreements.  Written agreements between the Assistant and the Principal Agent must be prepared and approved by management which includes the following:

• Specifies the responsibilities of the Assistant.  

• How the assistant is to be compensated.

• If the assistant is unlicensed, an acknowledgment that they have read and understand the contents of the NJREC memo on permitted and prohibited activities.

A real estate team is a group of two or more CBRR licensed associates engaging in real estate brokerage activities and often headed by one associate who shall be referred to as the Team Leader.  This policy does not apply to those agents who wish to function as a team for convenience and marketing purposes and when transaction credit, earned compensation and awards are that of an equitable division, completely segregated from one another, and based solely on their individual Independent Contractor Agreement (“ICA”).  For example: Two Associates work as a team and the transaction credit is split 50% and the compensation paid each Associate is based solely on that specified in their ICA (however see Team Agreements 6:5.2).   

This policy is intended to apply to those associates who desire to work under the umbrella of a Team Leader, where one hundred percent of the transaction credit goes to the Team Leader, and whereas the team members have negotiated special agreements with the Team Leader as specified in 6:5.2.  The team, or a team member may or may not have a personal assistant. 

6:5.1  Commission Calculations.  Commissions paid to team members shall be agreed upon between the team and senior management and shall be calculated using one of the following formulas.  

Method 1.  Received GCI multiplied by Associate Split Level  multiplied by Percentage of Team Split.   For Example, an agent who is at a split level of 75% and receiving 60% of the team generated commission would be calculated:

GCI of $8000.00   X 75%   =   $6000   X   60%  =  $3600

Earnings for the purpose of determining the specific commission split level a team member shall be entitled shall be based on the actual earnings paid to each team member. 

Method 2.  The Split Level upon which the gross commission paid to team members shall be determined by calculating the average income of all team members as specified in the ICA.  Commissions shall further be distributed to team members based on the Team Agreement. 

Method 3. The Split Level upon which the gross commission paid to team members shall be determined by calculating the average split level of all team members as specified in the ICA.  Commissions shall further be distributed to team members based on the Team Agreement.  

6:5.2  Team Agreements.  All teams must prepare and submit for the approval of senior management a written agreement which includes the followings:

•   Specifies the responsibilities of each member.

•   How each member will be compensated.

•   A procedure for resolving disputes.

•   Responsibility for payment of transaction associated fees (i.e. E&O insurance premium expenses, etc.).

•   Procedures for termination of the agreement and how prospects and clients will be distributed.

•   An understanding that all awards will be given in the name of the Team Leader.

Coldwell Banker makes available to its associates - without question - the finest tools and systems in the industry.  Coldwell Banker DESK (www.MyCBDesk.com) is the portal to all Coldwell Banker education, products and services.  It is the ultimate source for listing tools, electronic networking tools, as well as selling and prospecting tools.  It is also the gateway to Coldwell Banker University (CBU).  The CBRR Director of Training shall include these tools in training events throughout the year.  Office Managers shall make certain they have a working knowledge of these tools in order to adequately coach and train agents in their use and application.

The professional development of Associates and of the Support Staff is vital in growing business and attaining success which is head and shoulders above that of our competitors.  The following polices and procedures are established in order to deliver a superior level of training and educational resources designed to enhance and elevate success.  

• Training and Education Academy.  The Company will operate a training center known as the Riviera Training and Education Academy.  The training center shall not necessarily be located at a specific location.  The mission of the Coldwell Banker Riviera Realty Training and Education Academy is to provide our Associates and support staff with concise knowledge, relevant training, and build the essential skills which in turn will enhance and excel business growth.

• The Director of Education shall be responsible for all aspects of the Company Training and Education Program. The Job Description (Appendix H) includes developing and coordinating the execution of a comprehensive Annual Company Training Plan, overseeing agent professional development, planning Company training seminars and rallies, creating training materials and media, and communicating updates and enhancements of Company and Coldwell Banker systems and tools.

• Training Plan.  There shall be an annual training plan for every calendar year.  With the input and collaboration of office managers, the training plan shall be drafted by the Director of Education and submitted to senior management for approval not later than December 1st of each year.  The plan shall be reviewed and adjusted as deemed appropriate during the first week of each quarter.  

• Mandatory Training.  Newly licensed agents are expected to complete the minimum training requirements as established in the Annual Training Plan.  From time-to-time all Associates will be required to attend training which the company has determined to be essential to all.  Associates whose productivity fall below minimum standards may be required to complete prescribed training as directed by management.    

• Dissemination.  The Annual Training Plan shall be published on the Extranet.   The planned training for every ensuing month shall be disseminated company-wide via the email and the events section on the Extranet.

Each office manager shall conduct business reviews with the agents affiliated in their respective offices.  Reviews shall be conducted with every Associate a minimum of once a year.  Business reviews should be conducted more frequently with lower quartile Associates.  

The fees and expenses an Associate can expect to incur are promulgated by the Boards and MLS’s annually.   A matrix of current year institutional expenses will be retained by each office manager for dissemination to Associates.  The Accounting Department shall prepare and distribute monthly Associate invoices to all Associates who owe money to the Company.  Associates are expected to make prompt remittance and settle all outstanding balances within 14 days after billing. 

Coldwell Banker and the Company maintain strict identity standards.  Coldwell Banker Identity Standards may be viewed from CB Desk.  The Company Identity Standards are maintained in Appendix A.  Failing to abide by identity standards invites a host of legal issues and detracts from brand identity objectives.  Office Managers must maintain familiarity with and enforce compliance with all identity standards and required disclaimers.  

The entire primary market in which CBRR conducts business shall be divided into Market Service Areas (MSA’s) and published in Appendix P.  MSA’s will be determined by senior management based upon equity between offices and in the ability of any given office to effectively service and interact within that area. 

7:2.1  Office Managers shall collect and maintain information which affects real estate brokerage activities within their respective MSA.  The information shall be made available to any CBRR Associate as needed and in most cases be made available to Associates in the Agent Resource Section of the Company Extranet.  Examples include:

• Closing requirements, procedures, and forms related to Certificates of Occupancy, Letters of No Interest, inspections and utility companies. This includes the requirements of condominiums, adult communities, and co-ops.

• Sign ordinances including the rules of condominium and community associations.

• A list of civic clubs and organizations.

7:3.1  Agent Placed Advertising.  In accordance with the NJREC Advertising Rules, any Associate wishing to place any individual advertising must first obtain the approval of the Office Manager.  Office Managers shall, prior to placement, review all agent placed advertising for compliance with all requirements.  Associates are cautioned that the NJREC considers all electronic (i.e. Internet, web sites & email) to be advertising subject to the NJREC Rules.  All agent placed advertising should include the text “Ask for agent first & last Name.”

Agent placed advertising must comply with Company and Coldwell Banker Identity Standards which includes the use of an approved Header/Banner and Footer.  

7:3.2  Advertising Reimbursement Program.  The Company will provide Associates with a 30% reimbursement for qualified agent placed advertising.

•  The publications eligible for reimbursement can be found in Appendix J.

•  The advertising must meet all identify standards, and receive the prior approval of management.

•  The amount of the reimbursement is limited to $100.00 per month and credit will only be applied in the month the ad was first published.  No carry over credits.  Yearly and quarterly ads must be re-submitted monthly.  

•  Requests for reimbursement must be submitted within 30 days of the publication date, or the reimbursement is forfeited.  

•  Agents must provide proof of payment and submit a request for reimbursement to the Accounting Department via the Office Manager using the Advertising Reimbursement Program Form found in the files download section of the Extranet.

•  Should there be an outstanding balance owned by the Associate, that balance shall be deducted from the amount of the reimbursement.

•  Reimbursements shall be made within 45 days of submission.

•  The Company will consider the awarding of advertising credits for special situations on a limited, case-by-case basis.  Amended 3-1-2

7:3.3  Graphics and Logos.  There shall be maintained on the Extranet a Graphics Library which contains popular logos authorized for use in CBRR and Associate advertising.  The types of logos include, Coldwell Banker, CBRR, Designations, Awards, and Affiliates.  There shall also be a separate library containing real estate related clip art, images and links to images.  

7:3.4  Signs.  The property owner’s permission must be obtained prior to placing any sign on any property. The Office Manager is responsible for the use, storage, security and maintaining of an adequate inventory of sign riders, yard, directional and open House signs.   In order to enhance brand identity, all yard signs purchased must comply with the current Company Identity Standards (Appendix A) and as published on the Extranet.  Signs are not consumable property and should be re-used if in good condition.   The Office Manager shall institute procedures which ensure signs are returned to the office upon termination, sale or lease of the listing.  The listing agent will be charged a fee of $25.00 for unreturned yard signs.  All yard signs must be checked out using CBRR Form R4 (Yard Sign Checkout).  

7:3-5  REO Pre-Listing Yard Signs.  Frequently there is a “pre-listing” period associated with REO properties.  During this period, the Company may be required to place a yard sign and a keybox on properties where a valid listing agreement has not yet been secured.  In such cases, the yard sign shall make no reference to the property being “For Sale.” and must have a coming soon rider.   The yard sign shall not have a “For Sale” rider attached until such time as the listing agreement is fully secured.   However, the yard sign may have an agent name rider, or a rider that states “Bank Owned.”  Should a yard sign be placed on a pre-listed property, that property and it’s status must be listed in the Office Listing Management System so inquires from the public can be properly responded to.  In all such cases, signs and advertising must comply with the MLS Rules on Coming Soon Listings.  REO pre-listings are the same as a Coming Soon listing.   In all such cases, the MLS Rules regarding Coming Soon listings must be strictly adhered to. 

7:3-6  Coming Soon Listings.  All Coming Soon Listings must comply with the Rules of the MLS of which the office is a primary member.  Any listing in a “Coming Soon” status may not be shown to any perspective buyer until such time as the status is changed to Active.  Any advertising must specify that the listing is coming soon and cannot be shown.   

 7:3.7  Rider Placement on Yard Signs.  Standardization of rider placement on yard signs enhances brand identity.  When an Agent Name Rider is used, it shall be placed above the main panel.  “For Sale” and “Under Contract” riders shall be placed below the main panel.  When an Agent Name Rider is not used, the “For Sale” and “Under Contract” riders shall be placed above the main panel.  In accordance with NJREC Rules, yard signs must always display the “Under Contract” rider and the rider shall be inserted on the yard sign within 48 hours after survival of attorney review.  In all cases, the top slot shall always contain an appropriate rider and never be left empty.  

7:3.8  Agent Name Riders.  Listing Agents may attach, at their sole expense, a name rider which may also display a personal phone number provided:

a) It is in full compliance with NJREC Rules and Regulations.

b) It does not cover any portion of the main panel.

c) It complies with all Identity Standards and is either black letters on white background, or red and white or blue and white lettering and background.

7:3.9  Under Contract Rider.  In accordance with NJREC Rules, all yard signs MUST have an “Under Contract” rider displayed on the yard sign after conclusion of the Attorney Review Period.  The Company Policy shall be immediately and no later than 48 hours.

• NJREC Rule:  In the time period after a contract prepared by a licensee emerges from Attorney Review or a contract not subject to Attorney Review is fully executed and delivered to all parties, but before a closing occurs at which title is transferred, unless such a contract is canceled and the seller authorizes the listing broker to renew efforts to market the property, any advertisement of the property which is the subject of the contract shall include the term "under contract."

7:3.10  Unauthorized Riders.  Under no circumstances may a sign rider advertising the services of any service provider or merchant not affiliated with the Company be displayed on or attached to any Yard Sign without the approval of senior management.  

7:3.11  Removal of Yard Signs.  Without a valid active listing contract, signs are not to be left on the property. Signs from expired or withdrawn listings must be removed within two days after withdrawal or expiration.  In the absence of new owner permission, signs for sold listings must be removed on the day of closing.  Associates shall record the return of the yard sign on the Yard Sign Checkout Form. 

 7:3.12  Open House Signs. Open house signs shall be provided by the company and all signs shall be checked in and out in the Open House Sign Check Out Log.  The maximum number of signs used in connection with any given open house may, at the discretion of the office manager, be limited.  Open house signs will be checked in and out using the Open House Sign Checkout Log.  

7:3.13  Directional Signs.  Excluding open house directional signs, local ordinances in the vast majority of the Company’s Market Service Areas forbid the use of these signs.  Therefore the Company shall not purchase directional signs.  

7:3.14  Local Sign Ordinances.  It is the responsibility of the Associate to be aware of and abide by all pertinent ordinances regulating the placement of signs within a specific town or municipality.  Associates are solely responsible for payment of any fines and for the cost of replacing confiscated signs.  

7:3.15  Commercial Signs shall be ordered from and stocked by the Brick office.  The Company will arrange for the installation of commercial property signs.  To request  a commercial sign placed on a listed property office managers shall send the request for commercial sign via template email to the addressee contained therein.  Because of the higher cost involved in the procurement and installation of commercial signs, they will normally not be installed on listed properties with a term of less than 6 months. 

Cards will be prepared and ordered by the office Administrative Coordinator. The specific card which will be ordered is specified on the Company Identify Standards.  Cards will be ordered at Company expense from the Company specified on the Approved Vendor List (Appendix C) per the following:

Eligibility. The office manager must approve all just listed and just sold mailing requests subject to the following criteria:

• The property must be residential property listed or sold for a minimum of $50,000. 

• Associates must prepare and submit requests within 5 days of the list or sale date and all mailings must include a photo. 

• Listings involving the sale of land are not eligible. However, office managers may waive this restriction in the case of special circumstances. 

• Just listed cards will not be provided for listings taken for a term of less than six months. However, office managers may waive this restriction in the case of special circumstances. 

• Cards will generally not be mailed to locales involving properties outside of the marketing areas of CBRR. 

• Just listed means a new listing which has not been listed by the Company in the previous six months.

Quantities.

• Listings: Associates may choose to send either 50 Just Listed Cards or in lieu of Just Listed Cards, send 50 Just Sold cards after the listed property closes title.

• Sale Sides: Associates shall receive 50 Just Sold Cards when in which they are credited with the buyer side of a closed transaction.  

• Additional Cards Associates who desire to mail more than the 50 cards may do so at their sole expense. Associates can pay for additional mailings by either arranging for an individual account with the approved vendor or the Administrative Coordinator shall send billing information to Accounting and thereafter the Accounting Department shall invoice the Associate. 

Holding an open house must have the prior consent of the owner,  Associates may conduct open houses as desired.  The suggested minimum time for a public open house is three hours (1 to 4).  Under NO circumstances shall the property be left unattended by a CBRR Associate while the home is open to the public.  Associates shall not use any of the appliances, electronics or amenities without the consent of the owner.  The serving of food or beverages also requires the owners consent.  

7:5.1  Regulatory Compliance.  There shall be available an abundant supply of the NJREC Consumer Information Statements.  In accordance with NJ State Law, a sign shall be posted at the entrance or at a sing-in sheet location which clearly advises prospective buyers that the brokerage firm hosting the open house represents the seller only and has no relationship with the prospective buyer.   Such signs will be made available by the Company. 

7:5.2  Advertising and Promotion.  The open house date, starting time and ending time must be reported to Administrative Coordinator so that it can be advertised online.  Associates may use open house signs provided by the Company or they may purchase their own personally branded open house signs.   All Associate owned signs must be approved by management and fully comply with the Identify Standards. 

7:5.3  Guest Register.  A Guest Register (CBRR Form L9) should be used at every open house.  Associates may purchase or produce their own register provided it is approved by management.   Although the information supplied by guests is sometimes unreliable, it still has a lot of value.  It can be used as a tool to assess the quality of the guests, the time of day they arrive, capture information for follow-up prospecting, what geographical area they are from, and assess the way buyers most often discover open houses.  The use of an electronic register is authorized, provided the office manager has approved its use.  

7:5.4  Cancellations.  Notwithstanding this Cancellation Policy, once an open house has been scheduled with an owner, that commitment must be honored.  When an open house has been advertised, the hosting agent shall attend the property over the entire course of the advertised time.  When an open house has been advertised and subsequently the property status changes to under contract, or is otherwise withdrawn from the market, the open house shall not be held.  All requests by the owner to cancel an open house shall be honored.

Upon cancellation, a notation shall be placed in the Listing Management System (non-public/Agent Remarks Section) alerting agents so that consumer inquires can be properly responded to.  The Under Contract Rider should be placed on the property as another method of informing consumers.  When time permits, the AC should call and attempt to have a “Cancelled - Under Contract” graphic banner inserted over the picture of already placed printed media advertising.  The AC shall remove the open house advertising from all electronic media. 

Geographic canvassing (farming) is a proven method to cultivate business.  The costs of farming shall be the sole expense of the Associate.  There shall not be protected farm areas.  Subject to Prospect Protection (See Section 10) the Associate with the best marketing strategy earns the business of the consumer.  

Geographic canvassing (farming) is a proven method to cultivate business.  The costs of farming shall be the sole expense of the Associate.  There shall not be protected farm areas.  Subject to Prospect Protection (See Section 10) the Associate with the best marketing strategy earns the business of the consumer.  

The company shall maintain a web site whose primary address is RivieraRealty.com.  The primary purpose of the website shall be to generate leads, inform and educate the public and capture new business.  The website shall be monitored by senior management, maintained and updated in order to respond to consumer demands and maximize lead capture. The Company website shall have a section devoted to seasonal rentals. 

•  URL’s.  Associates must provide the URL (domain) for all personal websites to the Office Manager who shall forward the URL to an individual designated by senior management.

•  The General Manager shall cause to be maintained a master list of all Associate website URL’s.

•  Associates are cautioned to read and understand the restrictions imposed within Article 12 of the Code of Ethics regarding the use of URL’s.

•  Associates may NOT establish or operate a VOW (Virtual Office Website) without the prior written approval of senior management. 

The simplest definition of a VOW is a broker website that allows consumers to access all of the non-confidential information in the MLS after registering with a REALTOR®.  Virtual Office Websites are really not much different from the websites that brokers offer to consumers today. There are only two significant differences – more data fields and a registration requirement.

There are dozens of CMA solutions available.  The Company strongly recommends that agents use the Coldwell Banker provided CMA know as Moxi Present.  Moxi Present provides both a Seller and a Buyer CMA. 

8:1  Expectations.

• Reply to all communications promptly.  

• Every attempt to give advise to the client of another Associate should be avoided.  The reason for this is one does not know what has been told a client by the other Associate.  They may also lack background and historical information which may be necessary in making an appropriate reply. 

• At a minimum, make weekly contact with every client and provide appropriate market updates, feedback and marketing efforts and results.

• Provide professional advise and guidance and never make a decision on behalf of a client.  

• Exercise an absolute commitment to honesty, integrity and ethics.

• Verify accuracy of data displayed in marketing materials

• If questions cannot be answered with accuracy and with certainty inform the person that you want to verify the answer first. Get the correct information, and then answer the question.   

• Always deliver what has been promised.  Under promise and over deliver.

• Practice relationship excellence. 

• Associates.  The Broker does not control the Associate's time off except that Associates must make themselves available for meetings and business events discussed elsewhere in this Manual.   However, if an Associate plans to be absent from the area and unavailable to meet with clients  (i.e. out of town) beyond one day, the Associate must inform the Office Manager of their departure and return dates.  The notification should be made via email and if in the event there will be a covering Associate, the notification shall include the covering associates name, and the details of any agreed to compensation.

With the advent of technology such as online meetings, cell phones, email, and various internet based applications, many Associates may choose to provide basic client services while absent.  Some services such as presentation of purchase offers are time sensitive and often must be accomplished in-person.  Therefore another Associate must be designated by the absent Associate to cover for them during the absence.  Failure by the absent Associate to arrange coverage by another Associate may require the Office Manager to appoint a covering Associate and therefore may have to determine the appropriate compensation to be paid by the absent Associate to the covering Associate.   

• Office Managers.   When office managers take vacation or personal days and will not be readily accessible they shall arrange for the manager of another office to receive and respond to the immediate needs of the absent managers office staff and Associates.  Managers shall email all office Associates and cc senior management to inform them of their absence and the name and contact information for the covering manager.  

The many variables in any given situation make it near impossible to write a policy which will adequately cover prospect protection.  One of the best things to keep in mind when deciding what agent is entitled to work with a particular client, are the Golden and the Platinum Rules.  Do the right thing!  

Associates should always attempt to determine if a prospect has a previous relationship with another CBRR Associate.  In most circumstances, should a prior relationship exist the prospect should be referred back to the original Associate.  The first question an Associate is obligated to ask a perspective client is “Are you currently working with another agent” and you must confirm that they to not have a buyer agency agreement in place with another broker.  

If a company generated prospect (i.e. up-call, any Internet Lead, Company placed advertising, etc.), does not remember the name of the Associate they first spoke with, then the original Associate shall not be protected.  

In thinking about prospect protection, consider what our own National Association of REALTORS® uses as guidelines for Procuring Cause.   Some of the factors considered there are also applicable in prospect protection.  The first question which an Associate is obligated to ask a perspective client is “Are you currently working with another agent” and confirm that they to not have a buyer agency agreement in place.  Here are some basics:

• Abandonment of Prior Prospect/Client.   If an agent has maintained and documented contact a minimum of every 90 days, clearly there is no abandonment and  more than likely the client should remain theirs.  Contact can include, but not limited to, mailings, pop-by visits, text message, email, phone calls and contact through Moxi systems.  

• I want it now.  The fact that a prospect may want something when an agent is not available should not constitute abandonment nor estrangement.  This might be the time to practice the “Rule” and help out another agent without expecting compensation.  The old adage “What goes around comes around” can also have a positive effect as opposed to having a negative one.  

• Internet Prospects.  Today internet buyers are everywhere and on multiple web sites.  Expect that the public will contact multiple agents within the Company.  The Agent who first establishes a two way dialog and maintains contact should retain the prospect.  

• Estrangement by Inadequate Chemistry.   Sometimes people just don’t click.  Be proactive.  Better to hand them off to another in office/company agent and collect a referral fee than have the client go to another company and collect nothing. 

• Intra Company Expired Listings.  Generally belonging to the prior listing agent provided the 90 day contact rule is adhered to. 

• FSBO’s & Expired Listings.  Should a FSBO or an expired listing have been listed with CBRR within the past six months, the prospect is protected and should not be contacted without consent of the prior CBRR listing agent.  In all other cases, the decision rests with the prospect and in general the Associate who presents the most compelling presentation wins.

Management shall have the right to assign a prospect or client to another Associate if it appears that the prospect has been abandoned, neglected, improperly serviced, or becomes estranged. 

9:1  Relocation and Referral Services is a multi-dimensional unit that pursues all sources of business on behalf of Coldwell Banker Riviera Realty, Inc. in order to create additional revenue for the Company and for CBRR sales associates.  The division is responsible for facilitating and growing the flow of incoming relocation and referral business to a select group of Associates who are trained and committed to providing the highest quality services to the consumer, and referring entity.

• A-Team is a group of select Associates chosen to receive Class A referrals.  

• B2B Team is a group of select Associates qualified to receive Class B referrals.

• Cartus is the leading relocation company in the world, working with corporations, government agencies and membership-based organizations.  In addition to the per transaction fees charged by Cartus, the Company pays a substantial enrollment fee each year to receive business from Cartus.  

• Network.  Shall mean all the Coldwell Banker Companies and Offices, members and clients of Cartus, and brokers with whom the Company has established a referral business relationship. 

• Referred Agent/Broker.  The Associate or Company receiving the referral.

• Outside Broker.  Refers to any brokerage company other than CBRR.

• Referring Agent.  The Associate or Company providing the referral.

• Relocation Manager.  Is an individual designated by the Company to manage and administer the Relocation and Referral Policy and Procedures.

• Agent Generated means the Company or the Coldwell Banker brand at no time played any role in the generation of the lead.  This applies to Coldwell Banker branding and marketing efforts as well as those leads received out of a prior relationship with the CBRR. 

The assignment of incoming referrals to an Associate carries with it a unique responsibility.  The referred client and the referring agent expect that CBRR will provide an excellent customer experience and that the referred client will be assigned to a highly competent Agent.  As a minimum they expect the agent assigned to be knowledgeable, productive, courteous, reliable, loyal and skilled.  The following outlines the assignment policy, qualifications, and expectations.  

9:3.2.1  Class A Referrals.  All Class A referral leads will be assigned to a member of the A-Team which shall be comprised of Associates from every office.  Members of this team will exclusively receive all Class A referrals received into the Company.  A-Team members shall have access to a resource page on the Extranet which has forms, procedures, and information relating to relocation.

9:3.2.2   Lead Assignment.  Unless there is a unique relationship or specific request present, Class A leads will be assigned to a team member who works in the office assigned responsibility for the Zip Code in which the referred client lives or intends to move to.  

9:3.2.3  A-Team Qualifications.  Although there are no specific terms for A-Team appointments, member performance, qualifications and fulfillment of expectations will be reviewed semi-annually.  Reviews shall be conducted in February and August by the cognizant office manager based upon information provided from the Relocation Director.  A-Team membership shall be limited to no more than two agents from any particular office.  To be considered for the A-Team, Associates must meet and maintain the following criteria.

1.)  During the previous twelve month review periods (measured from June 30th and December 31st) received a minimum income of  $25,000, of which a significant amount must be generated from non relocation related business (See A-Team Expectations 9:3.2.4).  

2.)  Successfully complete the annual training and certification requirement which will occur in March of every year.  The cost of certification shall be at the sole expense of the agent which the cost of which, upon request, may be deferred until such time as the first relocation (Class A) closing.  The Relocation Director shall announce the date with a minimum of 30 days notice.   

3.)  Attend A-Team quarterly training events.  Recognizing the importance of training, Associates who miss more than one training event over the course of the twelve month review period may be removed from the team.  

4.)  Ensure timely monthly status updates are provided to the Relocation Director.  

5.)  Produce a minimum of one Cartus placed broker-to-broker referral per year. 

6.)  Sign an acknowledgment that they have read, understand the Company Policy and Procedures contained herein and agree to abide by same.  

7.)   Frequent participation at office meetings, caravans, Company functions, Coldwell Banker functions, and in general training opportunities.  Promote the use of Riviera Title and affiliate relationships and those businesses with whom there exists an affinity relationship with Coldwell Banker, CARTUS, or CBRR.

8.)  Receive the recommendation of their respective office manager.  

9:3.2.4  A-Team Expectations.  To remain eligible to receive relocation referrals,  Associates are expected to:

1.)  After receiving the supplied information, promptly contact the referred prospect.  Prompt means immediately and within 24 hours.  When possible, the first person to contact is the referring agent to obtain further information regarding the prospect.  

2.)  Once initial contact has been made, contact the referring agent and the CBRR Relocation Director to provide feedback. 

3.)  Should you encounter difficulty in contacting the prospect, or should you discover we are unable to service the prospect, promptly notify the Relocation Director.  

4.)  Ensure that timely monthly status updates are provided to the Relocation Director. 

5.)  Adhere to the administrative and reporting requirements contained in Appendix I, which is posted on the Company Extranet A-Team page.  This includes providing all reports, updates, and accounting requirements on a timely basis. 

6.)  Whenever not precluded by law, regulation or contractual agreement, recommend the use of CBRR affiliated businesses.  

7.)  Convert a significant number of relocation referrals into listings or closed buyer side transactions.  

8.)  Receive the recommendation of their respective office manager. 

9:3.2.5 Class B Referrals.   All Class B referrals will be assigned to a member of the B2B Team which will be comprised of Associates from every office.  Members of this team will receive Class B referrals received into the Company.

9:3.2.6  Lead Assignment.  A rotation list of all B2B Team members for each office shall be maintained by the Relocation Director.   The team membership on this list shall be periodically verified (no less than quarterly) by the Relocation Director and the cognizant office manager.  Additions to the list shall be inserted at the bottom of the rotation.  

9:3 2.7    Routine Assignment.  Class B referral leads will be given out in descending order on the list for each office, according to the Market Service Area outlined by CBRR in Appendix P.  Prior to assignment of a referral lead, the Relocation Director shall contact the office manager to confirm the availability of the next agent on the list.  If the next agent up in the rotation is unable to be contacted within two hours, or the referral is urgent, the referral will go to the next person on the list or to the floor person (if eligible).  The person who was passed over will be next on the list to receive a referral.  If an agent accepts a referral, that agent must personally work the referral and not pass it on to another agent.   If an agent declines a referral, the agent will be passed over until the next rotation. 

9:3.2.8   Special Assignment.  On occasion the referring agent or client may provide us a referral with special requests (i.e. an experienced agent, a high producer, a certain designation, a particular skill, or a award winner similar to the Circle of Excellence).  Special requests must be given every effort to honor.  In such instances, the Relocation Director will discuss the requests with the cognizant office manager to arrive at an assignment decision. 

9:3.2.9   Reliability.  Should an Associate repeatedly decline referrals or pick and choose the referral they wish to service, they may be removed from the B2B Team list.  

9:3.2.10   B2B Team Qualifications.  To be considered for the B2B Team, Associates must meet and maintain the following criteria.

1.)  Newly licensed agents must have closed two sales units prior to being placed on the list.

2.)  During the previous twelve month period (measured from June 30th and December 31st) agents must have produced a minimum GCI of $15,000.

3.)  Each agent must produce a minimum of one Cartus placed broker-to-broker referral within the previous twelve month review period.  This requirement will be waived for newly affiliated Associates during their first twelve months.  Should an Associate be removed from the list for failure to meet this requirement, they will be placed at the bottom of the list once the requirement has been achieved.  The Relocation Director is responsible for maintaining a record of placed referrals.

4.)  Sign an acknowledgment that they have read, understand the Company Policy and Procedures contained herein and agree to abide by same.  The acknowledgment shall be retained by the Relocation Director.

5.)  Agents must have frequent participation at office meetings, caravans, Company functions, Coldwell Banker functions, and in general training opportunities.  They must promote the use of Riviera Title, EverBank Mortgage and those businesses with whom there exists an affinity relationship with Coldwell Banker, CARTUS, or CBRR..

6.)  Receive the recommendation of their respective office manager. 

9.3.2.11   B2B Team Expectations

1.)  After receiving the referred prospect information, promptly contact them.  Promptly means immediately and within 24 hours. 

2.)  Once initial contact has been made, contact the referring agent and the CBRR Relocation Director for the purpose of providing the current status and feedback.   

3.)  Ensure timely monthly status updates are provided to the Relocation Director. 

4.)  Should you encounter difficulty in contacting the prospect, or should you discover we are unable to service the prospect, promptly notify the Relocation Director.  

5.)  Once a working relationship has been established, mail a thank you note to the referring agent and include a business card.

6.)   Of course we want to earn future referrals.  Maintain rapport with the client and the referring agent.

9.3.3  Class C and  D Referrals - (Incoming)

9:3.3.1   Referral Fee Agreements.  All incoming referral agreements must be signed by a member of the management team.  Associates are not authorized to sign or authorize the payment of any fee to any party.  Associates who negotiate/sign any agreement to pay a referral fee not approved by management, may assume the risk of being solely responsible for payment of any such referral fee.  The reason for this is that the signature obligates the Company to pay another broker or entity a portion of both the Associate and Company commissions.  In almost every case it also binds the Company to pay a referral fee to the referring broker or entity regardless of the CBRR Associate or CBRR office involved in a sale.  It is also possible that a prior agreement to pay a referral fee to a different broker is still in force.  Therefore all agreements to pay a referral fee must be signed by management and immediately registered with the Relocation Department via and initialed by the office manager.  Wherever and whenever possible all Class B and C Referral Agreements should be signed and memorialized by the Relocation Director.  

9:3.3.2   In those rare instances where a referral is accepted by an office manager, a copy of the Agreement must be immediately transmitted to the Relocation Department via Fax.  

9:3.3.3    Class C and D referrals will not be counted as a received referral for purposes of rotation on the B2B Team Rotation List. 

All outgoing referrals must be placed by the Relocation Department using the Outgoing Referral Form (CBRR Form RD1).  It is in the agents best interest to have the relocation department place the referral in order to reduce referral fees and maximize commissions received.  In those rare occasions where an outgoing referral is not placed by the Relocation Department, the Outgoing Referral Form must be immediately transmitted by fax or email to the Relocation Department for approval and memorialization.  A copy of the fully signed agreement must be retained by the Relocation Department.  

9.4.1 Outside Broker Placement. Our Agreement with Cartus requires that outgoing referrals are placed with a broker affiliated within the Cartus Network.  It is in the agents best interest to have the relocation department place the referral in order to reduce referral fees and maximize commissions received. 

9.4.2   Cartus Placement Exceptions.  Sometimes placement with a Cartus affiliate is not possible nor in the best interest of the referred party.  Such circumstances may include the lack of a Cartus affiliate in close proximity to the sought area, or the desire of the referred party to be placed with a specific broker, or a past history of poor cooperation on the part of a particular Cartus affiliate.  Placement outside of the Cartus Network shall not be made without the approval of management or the Relocation Director.  It is in the agents best interest to have the relocation department place the referral in order to reduce referral fees and maximize commissions received.

9.4.3   Referrals within Ocean, Monmouth.  Referrals to these counties will generally not be made to an outside broker, but rather to an agent within CBRR who is able to adequately service the client in the area to which they are being referred.  Exceptions to this policy can only be made with the approval of the Relocation Director, or CBRR Senior Management. 

9.4.4   Referral Placement Fee Charge to Outside Brokers.   The fee charged for placement of outgoing referrals to a Cartus affiliate is established by agreement with Cartus and is currently 35%.  No outgoing referral shall be placed with a non-Cartus affiliate for less than 35% without the prior written approval of management. 

All referrals placed between CBRR Associates shall be the agreed upon fee as negotiated between the parities.   However the fee shall generally not be not less than 25%, after fees paid to Coldwell Banker (-6.0%).   All referral agreements between CBRR Associates shall be in writing and approved by Management. 

9.6.1   Incoming Referrals.  

Class A.  Referral fees shall be the agreed upon fee plus 5%, to a maximum fee of 45%.  Agents shall be advised of the referral fee percentage when offered the referral.  Agent compensation shall be as provided for in their Independent Contractor Agreement (“ICA”).  

Class B.  Referral fees shall be no more than 35% plus a 5% administrative fee.  Any agreement to pay a higher  percentage requires the prior approval of management.   Associates shall be advised of the total referral fee percentage when offered the referral.   Agent compensation shall be as provided for in their Independent Contractor Agreement (“ICA”).

Class C.  Referral fees shall be no more than 30% plus a 5% administrative fee.  Any agreement to pay a higher  percentage requires the prior approval of management.   Associates shall be advised of the total referral fee percentage when offered the referral.   Agent compensation shall be as provided for in their Independent Contractor Agreement (“ICA”).

Class D.  Is an agent generated relocation referral, which is similar to an REO transaction.  This occurs very infrequently.  Often times, a fee is paid directly to a party other than a licensed real estate broker and listed on the Closing Document.  When this occurs the fee shall be as agreed upon by CBRR and the referring entity.  The agreement to pay the fee must be signed by Management or the Relocation Director.  

If CBRR has not financed or paid any bill or expense what-so-ever in connection with the transaction, the Associate shall be paid in accordance with their ICA.

If CBRR has financed or paid any bill or expense what-so-ever in connection with the transaction, there will be a 5%  management fee deducted from the gross commission prior to the Associate’s split.  See 9.7 Payment of Expenses Associated with a Referred Transaction.

Associates are encouraged to be aware of potential unsafe situations and adopt habits which reduce risk and avoid unsafe practices.  Consult the NAR online Guide to REALTOR Safety for additional information on safety in your business practices.  Some suggestions include: 

•  Get a prospect's full name, address and telephone number at the first meeting. Ask to see their driver's license and jot down the driver's license number and the date of birth. 

•  If you are meeting for the first time, or are otherwise concerned about a buyer or seller, ask the Manager, another Associate or a personal assistant to accompany you. 

•  Always have your new buyers and new sellers meet you at the real estate office, never at a vacant property.  Use your car or take separate cars. 

•  While showing a property, unlock the door and allow the prospects to enter first and keep them in front of you at all times. Avoid allowing the person to get between you and the door.

•  Don't carry a lot of cash or wear expensive jewelry during showings and open houses. 

•  When leaving the office, always let someone know where you will be and how you can be reached. 

•  Let someone know your anticipated return time, and if you are late without calling, they should call your cell phone.

• Use caution and judgment. DO NOT put yourself in an unsafe or compromising position.

Prior to showing a property, the listing office should be called to check “Availability” and confirm the status of a listing.  Unless otherwise directed by the listing company, follow the showing instructions per the MLS or the instructions provided by the listing agent via online showing solutions such as Showing Time.  Always use the walkways to approach a home.  Leave your business card.  Should a hazard or unexpected damage be discovered, it must be immediately reported to the listing company as well as reported to the CBRR office manager.  CBRR Associates shall not permit a non-licensed party, a client, or a customer to gain access to a property unless accompanied by a CBRR Associate.  Ensure that the property is completely secured before leaving.  Double check to make sure doors are closed and locked, lights turned off, and that blinds and drapes are left in the same position as they were upon entering.  Return the key to the keybox and double check to make sure the key drawer is securely fastened.  If a key has been checked out from the listing company, return it promptly.  Practice the Golden Rule: Provide showing feedback to the listing agent.  The preferred method of providing listing feedback is via the online Supra application, or an online feedback system utilized by the agent, listing company or the MLS.

All company files, manuals, written or electronic documents intended for the internal use of Employees and Associates is the sole property of the Company and is not to be distributed, shared, or provided in any manner to anyone not directly affiliated with the Company without the prior written consent of senior management.  

The CBRR Organizational Chart and a contact information list of Key Personnel is maintained on the Extranet. Key personnel include:  

• Broker of Record.  The Broker-of-Record is Dean R. Smith.

• General Manager.  Reports to the Owner/Broker-of-Record and is responsible for the day-to-day operations of the Company.  

• Branch Office Managers.  Each branch office will have a person assigned as the Manager.  This person will function as the “Office Supervisor” and meet all requirements as directed by the NJREC.  They will report to the General Manager and are responsible for the day-to-day operations of the office, office productivity, business planning and execution, and enforcement of Company Policy and Procedures. 

• Education Director.  Reports to the General Manager.  Responsible for the formulation, review, modification and execution of Company training for all Associates and Employees.

• Leads Administrator.  Responsible for assignment, tracking and ensuring the timely flow of leads to Sales Associates.  

• Relocation Director.  Reports to the General Manager.  Responsible for the operation of the CBRR Relocation Department, the administration of broker-to-broker referral program, and the administration of the CBRR Concierge Program. 

• Accounting Department. Reports to the Owner and the General Manager.

• License Administrator.  Reports to the Broker of Record and is responsible for the custody, control, and processing requirements associated with real estate licenses.  The License Administrator shall be copied on any correspondence related to license issues.

11:2.1 Acquired License Procedures.  The office manager must forward the following for all newly acquired real estate licenses.

• Payment in the amount due the NJREC made payable to the Company *(Accounting).

• Two Associate signed copies of the Independent Contractor Agreement/ICA (Accounting).

• W9, IRS Request for Taxpayer Identification Number (Accounting).

• Associate Application Package (Accounting, Scanned copy to GM via email).

11:2.2  Initially Licensed Agents.  Managers shall forward completed license documents, payment for NJREC required fee (payable to Coldwell Banker Riviera Realty, Inc.), two copies of the signed ICA, and a completed W9 to Accounting.  All documents shall be sent to accounting as one package.  Do not send documents individually.  Initially licensed agents no longer receive a temporary license and are not permitted to engage in brokerage activities until such time as their license is processed by the Real Estate Commission.  Once a license has been processed, the licensee’s name will be added to the online DOBI Licensing Database and thereafter the initial licensee may engage in brokerage activities.

11:2.3   Transfer of License to CBRR.  Forward payment for NJREC required fee (payable to Coldwell Banker Riviera Realty, Inc.), two copies of the signed ICA, and a completed W9.  Office Managers are solely responsible for completing and executing the Associate ICA and shall not delegate any portion of this responsibility to another.  

11:2.4  Transfer of License to Riviera Commercial.  Request via email template to the License Administrator to transfer the Associates license to Riviera Commercial and forward to Accounting:

• Two signed originals of the Riviera Commercial (Referral Agent) ICA

• A check for the appropriate amount made payable to Riviera Commercial.

• Launch CBRR Associate Termination procedures.

11:2.5  Transfer of License from Riviera Commercial.  Send out the new hire email notification and annotate in the remarks section that the license is being transferred from Referral.  Thereafter launch the Agent Hiring procedures .

Attracting and hiring quality agents into the Company is in everyone’s best interest.  Recognizing the important role that Associates play in this endeavor, the Company will reward an Associate who is instrumental in bringing a new Sales Associate into the company by paying that Associate, or Administrative Coordinator, a recruiting bonus.  A new Sales Associate is defined as any real estate licensee who has not been affiliated with the Company within the previous eighteen months.  The amount of the bonus will be based on the new Associates documented income derived from real estate sales during the 12 month period preceding the date the Associate is hired per the table in Figure 1.

Income Bonus

$0 to $10,000 $250

$10,001 to $20,000 $500

$20,001 to $30,000 $750

$30,001 to $55,000 $1,000

$55,001 and over $1,500

Only one bonus will be paid for any Associate recruited and all potential recruits must meet the standards expected of CBRR Associates.  The bonus will be paid upon the new Associate’s first closing.  However, should the Associate leave the Company prior to earning the minimum income on which the bonus was based, the amount of the paid bonus will be charged back and recovered by the Company.  Accounting shall establish a system to ensure recovery of paid bonuses in the event the Associate leaves the Company prior to earning the minimum supporting income.

At the time which a Recruiting Bonus becomes payable, the Office Manager shall email the Accounting Department, cc Senior Management and the Associate entitled to the Bonus, using the Recruiting Bonus Notification eMail Template.  Accounting shall flag the new Associates records for payment of the bonus at the time of the first closing.

Printable Version

The Company philosophy is to attract and retain quality agents rather than a quantity of agents.  Toward that end, Managers shall consult with senior management prior to committing to hiring an agent.  Senior management welcomes the opportunity to assist in the interview process of prospective agents.  Upon the hiring of a new Associate it is critical that the agent be rapidly assimilated into the company systems and that the applicable training programs are commenced. The following procedures are designed in order to facilitate this objective.

Office Manager shall follow the foregoing found in 11:2 and the procedures specified in the Branch Office Management Section of this Manual, the first of which is to make an announcement via the new agent hire email template.

The General Manager shall cause the upload the Agent Hire Checklist to Google Sheets and provide checklist access notification to all key personnel. Upon completion of the New Hire Checklist activities, the Education Director shall launch the appropriate training program.

Agent Hire Checklist is a spreadsheet which lists all the actions that must be accomplished in order to fully assimilate a new Associate into the Company.  It’s primary content relates to administrative actions and it should not be confused with the Training Program.  The spreadsheet will be hosted on Google Sheets. 

Key Personnel shall access the checklist and enter the date on which cognizant tasks where performed.  The timely completion of tasks is paramount to the operation of the system.  Often the ability of one key person to accomplish a task is dependent upon the completion of tasks by other key personnel.  Senior management shall monitor the checklist in order to ensure timely completion.  

All Associate compensation shall be paid in accordance with the provisions expressed in the Associate’s Broker-Salesperson Independent Contractor Agreement.  The following additional provisions shall apply.

11:5.1 Associates shall promptly deliver commission checks to the Accounting Department via their respective office managers.  Commission checks shall be transmitted to Accounting in accordance with the interoffice mailing policies found in Section 4.  Associates may transport commission checks directly to the Accounting Department provided a copy of the check is retained for inclusion in the office transaction folder.  

11:5.2 Broker promises to pay Associates all commissions earned within ten business days of receipt of earned commissions.  However, the Accounting Department shall make every effort to disburse earned commission payable Associates within two business days following deposit into the Company bank account.  Associate commission checks shall be remitted to associates by interoffice mail.  

11:5.3 Special Circumstances.  Should special circumstances occur where an Associate desires an expedited payment of commissions, the office manager shall make a written request to senior management via email.  Senior management will promptly notify the cognizant manager of the decision.  The Accounting Department shall notify either the Associate or the associates manager when the check has been signed and ready for pickup.  All commission checks are signed solely by the broker who may or may not be available at any given time.  Therefore, requests for special disbursement of commission checks should be requested as soon as possible.  Under no circumstances will commission checks be processed prior to such time as the commission check has been deposited.  Associates may pick-up commission checks rather than waiting on interoffice mail.   

Pursuant to the NJREC Rules, the name of an LLC may not be used in advertising or promotions, nor is the Company permitted to pay commissions in any name other than in the name of the Licensee.  Therefore, commission checks cannot be made payable to an LLC.

The word termination refers to the “Termination” of the Independent Contractor Agreement between the Broker and the Associate.  The specific terms governing termination are contained herein and in the Associates ICA.

11:7.1 Client Disposition.  Upon termination, Associates immediately relinquish the right to represent clients who are subject to a listing agreement, or under a purchase contract.  Consistent with Article 16 of the Code of Ethics, Associates shall immediately cease all contact with such individuals unless specific written permission authorizing continued contact is provided by management.  

11:7.2 Listing Disposition.  Standard of Practice 16-20 of the NAR Code of Ethics establishes that it is unethical for a REALTOR®/REALTOR® Associate  prior to or after termination with their current firm to induce clients to cancel exclusive contractual agreements between the client and that firm.  It is the policy of the Company that upon any termination all active and under contract listings to which the Associate was the listing agent shall remain with the Company.  However, should a newly hired Associate leave the Company in the first 30 days, listings may be unconditionally released subject to the terms contained in the Associates ICA.  The Office Manager shall contact and inform the client and reinforce the Companies commitment and ability to complete our agency.  Management will assess the wants and needs of the client and assign a new listing agent to service the listing based upon that assessment.  The assignment will be made solely at the discretion of management. 

11:7.3 Termination Letter. In accordance with NJREC Rules, the License Administrator shall within thirty days send a letter to the terminated Associate which states any commissions due or may become due the Associate at a future time.  The letter shall be by U.S. Postal Service or emailed to the last know address of the Associate.   

In order to ensure full compliance with RESPA requirements, Associates must provide the Affiliates Business Arrangement Disclosure (CBRR Form R3) to all consumers at the time the first discussion of real estate service providers takes place.  This must be done even if the consumer indicates they are going to use the services of non-affiliated providers.  The consumer must be asked to sign acknowledgment of the disclosure.  Should the consumer refuse to sign the acknowledgment, that fact must be noted in the transaction record.  The record of disclosure must be retained a minimum of six years.

In order to reduce the risk of liability for offering affiliated services to one client and not to another, it is the policy of the Company to require that the services of each affiliate be offered to all CBRR clients.  

• loanDepot provides home loans and is one of the largest lenders in the United States.  They originate Conventional, FHA, VA and USDA loans and utilize automated underwriting systems.  

• Riviera Title.  Provides title services including title insurance and closing services. 

• AHS Home Warranty provides home warranty services.  Associates must offer this service to all clients. This is necessary in order to reduce the risk of law suits.  There is case law where a broker has been held liable for damages by failing to offer this coverage to a client while offering it to other clients.  

The term “Listing” refers to the contractual agreement establishing the right of CBRR to sell or lease real property, mobile/manufactured homes, or businesses.  Listings are classified into Sale Listings and Lease Listings. 

13.1  Listing Type.  All listings taken for the purpose of selling or leasing will be either Exclusive Right to Sell, or Exclusive Agency Listings.  Exclusive Agency Listings require the prior approval of the office manager and are agreed to only under special circumstances.  The Company does not take Open Listings with the following exception.  

Exception For Letter Listing.  Not withstanding the foregoing, agents may secure a letter listing from a seller where the seller agrees to pay CBRR a commission should the named buyer purchase the subject property.  Under no circumstances shall an Associate alter the language or insert language into the listing agreement, or any other document, which entitles the seller to unilaterally cancel the listing agreement. The letter/Open Listing (Form L5) is contained in the Darn Drawer and on the Extranet.

The Company shall author and provide an Exclusive Right to Sell Listing Agreement which complies with the Rules of the National Association of REALTORS, and each of the primary MLS’s in which the Company participates.  There is no requirement that a listing agreement supplied by any Multiple Listing Service be utilized by CBRR.   However, in order to comply with NJREC Rules, the Listing Addendum (Form L2) must be used in conjunction with every Listing Agreement where the agent or office participates in any MLS other than the Primary MLS. 

Notwithstanding the foregoing, often financial institutions and relocation companies have their exclusive listing agreements which they require.  Such agreements shall not be entered into without the prior review and acceptance by the office manager.  Office managers shall not approve any listing agreement which departs from the established policies contained herein without the prior approval of senior management.  Master Listing Agreements shall only be signed as individually authorized by senior management.

13:3.1  Term.  Full term (six month) listings are preferred.  The term of the listing must be long enough in order to afford CBRR and the Listing Agent sufficient time to market the property and earn a return on their investments of both time and money.  Therefore,  Associates shall not take a listing for a period of less than 90 days (3 months) without the prior approval of management.

13:3.2  Broker Protection Period.  The preferred broker protection period to which the Company would be entitled to receive a commission is 180 days.  Associates shall not enter into listing agreements with a protection period of less than 90 days without the approval of management.

13:3.3  MLS Fees.  There shall be an MLS fee deduction from the cooperative commission offered on all Company listings.  The amount of the deduction shall be established by senior management promulgated by Policy Memorandum.  Any offer of compensation or reduction in compensation which states “SAY” (same as you) is illegal and shall never be offered.  There shall not be an MLS fee charged to in-house sales.  

13:3.4  Non-Primary MLS Fees.  When a listing is located within the jurisdiction of any MLS in which the listing agent participates and the Company is not a primary member, the Company will pay the per-listing fee on a one-time basis only.  For Example, if a listed property is located in Morris County (Garden State MLS), the Company shall pay the Garden state per-listing MLS fee, whereas if a property located in Ocean County is listed in the Garden State MLS, the Company shall not pay the MLS per-listing fee.   

All MLS per-listing fees owed to a non-primary MLS shall be paid by the listing agent.  In those cases where the Company is responsible for payment, the listing agent shall provide the invoice for the MLS per-listing fee to the Accounting Department, via the office manager, for reimbursement.  The Company reserves the right to apply reimbursements as a credit to the Listing Agents account. 

13:3.5  Brokerage Fee/Commission.  We are a legitimate full-service professional real estate brokerage company and strive to be paid a full 5% gross commission on every listing.  Associates should hone their skills and be able to present a compelling marketing strategy in order to command the fee we desire to receive.  In situations where it is necessary to negotiate the commission down in order to obtain the listing, Associates should not immediately jump to the minimum level.  Attempt to first negotiate a commission somewhere above the minimum.  

A.  The Company will, at the sole discretion of management, consider reductions in the minimum commission charged Builders of New Construction, commercial properties, and legitimate real estate investors who frequent list and buy properties with CBRR.  Approval will be based on the relationship with the builder or investor, number of units, marketing costs, and likelihood of additional business.

B.  The minimum gross commission accepted by the Company for the sale of real properties is 5%.  Associates may not enter into a listing agreement for a lesser fee without the prior approval of management.  However, should an Associate choose to enter into a agreement for a lesser fee, the difference the Company would have received at a 2.5% commission shall be deducted from commission received by the Associate.  In all such cases, the Company shall always collect the amount it would have received should the listing have been taken at the minimum 2.5% fee.

C.  For Sale by Owners.  In the event that an Associate procures a buyer for a FSBO or expired listing, the minimum commission shall be 2.5%.  Agreement to a lesser fee requires approval of management.  

D.  Offering of Cooperating Broker Compensation.  It is the general policy of the Company that all commissions received shall be split equally with cooperating brokers.  Provided the minimum gross commission payable to the Company is 2.5%  a seller may offer to pay a greater share to the selling side expressed as either a higher percentage, a bonus, or both.  Associates shall not enter into a listing agreement where the Company receives less than one-half of the gross commission without the prior approval of management.  However, when a referral fee is to be paid, the commission offered a cooperating broker (buyer side) shall not be greater than the commission retained by CBRR.      

If the seller is agreeable to paying CBRR a higher portion of the commission, the offering of a lesser split to cooperating brokers is authorized provided: 1) Management has approved it and 2) The minimum percentage offered the cooperating broker is a minimum of 2.5% of the GCI. 

E.  Exceptions for REO.  Real estate owned by financial institutions (REO) listings which depart from the policies hereunder and not governed by a Master Listing Agreement, shall be reviewed and approved by management prior to acceptance of the Listing.  

F.   Exceptions for Short Sales.  Often financial institutions approve short sales subject to the brokers agreeing to accept a reduced commission.  The requirement that a commission be reduced is generally conveyed in the Estoppel Letter issued by the financial institution.  Any agreement to accept a reduced commission must be approval by CBRR management.  When a cooperating broker is asked to participate in a reduction of the commission offered in the MLS, written approval from that broker must be obtained prior to conveying an agreement to accept the reduction. 

G.  Offerings of a Selling Bonus.  CBRR will accept listings whereas the Seller offers a bonus to the selling broker provided CBRR retains the minimum acceptable commission on the listing side.  CBRR and not the seller is responsible for payment of all bonuses offered in the MLS.    It is unlawful for a seller to pay or otherwise provide a bonus directly to the salesperson. Agents must receive all compensations directly from their employing broker.  

In accordance with the NJREC Memorandum issued in the Spring of 1998, listing agents who are consulted by their sellers about the advisability of offering bonuses to selling salespersons should advise the sellers that the payment of the bonus, whether monetary or a non-monetary gift, may only be paid the selling agent by their employing broker.  The payment of any bonus to the selling agent is subject to the compensation provisions in the employment agreement between the broker and the selling agent and therefore there is no assurance that the bonus, or any portion thereof, will be paid to the selling agent.  CBRR Associates shall not encourage sellers to offer non-monetary bonuses.  

Any agreement accepted by CBRR to pay a bonus must be clearly stated in the Listing Agreement or Addendum to include the amount, any prerequisite conditions which must be met for it to be paid, or any conditions which will preclude payment.  If the bonus is offered without condition the listing agent shall ensure the listing agreement states: “Seller shall unconditionally pay an additional $xxx bonus to CBRR for distribution to the selling broker at the time of closing.”  Should there be conditions the listing agreement shall state “Seller shall pay an additional $xxx bonus to CBRR for distribution to the selling broker at the time of closing provided” and thereafter state the conditions.  Any prerequisites or restrictions on the payment of a bonus must be clearly stated in each MLS to which the listing is submitted.  

All bonuses paid to CBRR Associates shall be in complete compliance with their ICA and based upon the commission split in place at the time of the closing.

H.  Seller Concessions.   UNDER REVISION When a Seller concession is agreed to, Associates are authorized to agree that the commission shall be payable based on the selling price less the amount of the seller concession.  Associates should not routinely make the offer to change the commission base, but may agree to accept the change.  The amount of the seller concession must be recorded on the Sales Processing Check List. 

13:3.6 Short Sales and Third Party Approval Listings.  Whenever a listing is taken where it is or becomes a possible “Short Sale” it must be disclosed in the MLS as dictated by MLS Rules.  Typically the disclosure will be made in the private (non-public) remarks section.  Some MLS’s have designed specific fields for this purpose.  All disclosures of short sales must include a statement or indication that the commission offered  may be adjusted by the third party having approval over the sale .  Associates not familiar with the short sale process should seek the assistance and advice of management prior to entering into the listing agreement.  

13:3.7 Lead Paint Compliance.  Recently builders of new construction homes which contained antique fixtures having lead paint were cited for non-compliance with the lead paint disclosure regulations.  Therefore, it is the policy of CBRR to require that a lead paint addendum be completed for every residential for sale or for lease listing.  Keep in mind that the forms for sales and rentals differ.  

13:3.8 Mobile/Manufactured Homes.  Associates shall not participate in brokerage activities which involve the sale or purchase of mobile/manufactured homes until completing the Company prescribed training on the sale and purchase of mobile homes.  The Company shall maintain and publish a list of Associates qualified to participate in this brokerage activity.

13:3.9 MLS Listing Entry Options

A.  IDX (Internet Data Exchange).   IDX is a NAR Policy with provides for the exchange of consent between brokers to display one another’s listing on the internet to include the websites of competing brokers.   Provided the seller authorizes display of his or her listing on the Internet, it is the policy of the Company to allow such display.  The term IDX and IDD are synonymous.

B.  VRC (Variable Rate Commission).  VCR is a commission scheme where one amount of commission is payable if the listing broker’s firm is the procuring cause of a sale/lease and a different amount of commission is payable if the sale/lease results through the efforts of the seller/landlord or a cooperating broker.  Variable rate commission schemes are not authorized without the prior approval of management.  Should a listing agreement include a variable rate, Article III of the Code of Ethics as described in standard of practice 3.4, requires that the existence of the VRC be disclosed prior to the presentation of any offer to purchase.  It is the policy of the Company to make this disclosure in every MLS to which the listing is submitted.  If a field is not available to make this disclosure, there must be a disclosure included in the private/non-public remarks section.

C.  Automatic Valuation Models (AVM) is the term used to describe the process of calculating the value of a specific property by analyzing the value of comparable properties found in public records. This process is widely used by websites such as Zillow.  Most MLS’s ask if AVM is permitted.  It is the policy of CBRR not to allow AVM and such questions should be answered no.  The reason for this is often AVM’s do not accurately reflect the true market value of a home, and the value returned by the AVM could damage the seller.  

D.  Virtual Office Website (VOW).  All MLS’s ask if a listing can be displayed on a VOW.  It is the policy of CBRR to allow such display unless the Seller instructed us otherwise, or instructed it not to be advertised on the Internet.

E.  Third Party Comments.  Most MLS’s ask if third party comments are allowed.  Third party comments allow anyone to comment on the internet about the property.  These comments might appear on any website or VOW to which the listing is distributed.  The potential damage to a seller is obvious.  Therefore the we do not permit third party comments to be associated with our listing displays.  

F.  Property Address.  The inclusion of the property address for display on the internet has become essential.  Maping and other technologies are useless without the address.  Additionally, many potential buyers want to drive by the house before contacting an agent.  Often the buyer capture point is in front on the property with a yard sign.  We always display the address unless instructed otherwise by the seller(s).  

13:3.10 New Listing Reporting.  The minute a yard sign goes up the potential for the office to receive inquires about the listing is immediately present.  Therefore, whenever a new listing is taken, it must be immediately reported to the office for immediate entry into the office listing management system.

13:3.11   Listing Agent Responsibilities. These responsibilities apply as appropriate to both for sale and for lease listings. [335]

A.  Listing Agreements. Listings shall be taken using the Listing Agreement indicated in Appendix G. Special attention must be taken to ensure that the Agreement is filled in completely and that the OCR copy is left with the Seller. Non-fixture and personal property to be included in the sale shall not be entered into any MLS or offered as a part of the sale to any party unless the item is listed as "Included" on the Listing Agreement. Likewise, any fixture not included in the sale must be listed as "Excluded" on the Listing Agreement. Listing Agreements must abide by the contents of 2:3 herein or be refused. 

B.  MLS Entry. Should the Listing Agent not be the person who submits the listing to the Multiple Listing Service (i.e. A personal assistant is to enter the listing data) the Listing Agent MUST provide an MLS Profile sheet completed in it’s entirety. In such instances entries made into the MLS system are to be verbatim as written on the profile sheet. No data is to be entered into any MLS system unless it appears on the profile sheet. The Listing Agent is responsible to confirm MLS data entries are correct and is held completely responsible for the accuracy of all listing data entered into a MLS. 

C.  Photos. The Listing Agent is responsible to ensure that a minimum of six photos are taken, uploaded to each MLS in which the Associate participates, and provided the Company for every residential or commercial listing. One or more photos of vacant land listings are encouraged. 

D.  MLS Rules & Regulations. The listing agent is responsible to be aware of and abide by all Rules and Regulations of any MLS to which the listing is submitted. MLS rules are available online at the website of each MLS in which CBRR participates. Listing Agents are solely responsible to promptly correct any notice of violation and are solely liable for the prompt payment of any fine imposed by the MLS. Notices of violation are often distributed from the MLS directly to the listing agent solely at the email address contained in the MLS system. Associates are responsible for maintaining a valid email address in each MLS system in which they are a participant. 

E.  Required Documents. Transactions are often unique and may require different documents. The minimum required documents on every transaction are listed in Appendix K. Associates and Managers must be mindful to review each transaction and ensure that any non-routine documents which may be required are contained in the transaction folder. 

13:3.12  Listing Withdrawals.   Associates are not to bind the Company to the release of a listing or any withdrawal agreement from the MLS.  It is within the sole discretion of the Office Manager to release or deny a release from a Listing Agreement. Only the Office Manager is authorized to sign the withdrawal form.  Unless management determines that extraordinary circumstances exist, only conditional withdrawals will be agreed to.  

12:3.13  Seller Property Condition Disclosure.  UNDER REVISION It is unlawful under the New Jersey Consumer Fraud Act to knowingly conceal a material fact, or make an affirmative misrepresentation.  A real estate licensee is not liable for punitive damage for communicating any false, misleading or deceptive information provided by or on behalf of the seller if two conditions are met: 1) The licensee had no actual knowledge the representation was false, misleading or deceptive; and 2) the licensee made a “reasonable and diligent inquiry” to ascertain if the information was false, misleading or deceptive.  In order to accomplish this, it is the policy of the company to obtain a Seller’s Property Condition Disclosure Statement on all residential property listings accepted for sale or for lease.   If for some reason a Disclosure Form is not received from the Seller, the explicit reason must be documented and maintained within the listing folder. 

Associates are cautioned that they are not to assist the seller in the preparation of the form, nor are they to make any writing thereon accept to sign and date the “Acknowledgment of Real Estate Broker/Broker-Salesperson” at line 425 of the document.  Listing agents shall always conduct a visual inspection of every listed property in order to ascertain material condition information about the property.  The listing agent shall compare the discoveries of that inspection to the disclosure statement.   Should a discrepancy be discovered, inquire of the seller, and ask that they correct the disclosure statement.  Should the seller not agree to correct the statement, or should the Associates opinion of the material property condition differ from that of the seller, Associates shall immediately consult with the office manager for direction.  

13:3.14  Joint Listings.  Associates shall not enter into an agreement to participate in a joint listing with a another brokerage company without the approval of management.  Likewise, joint listings involving separate CBRR offices should first receive approval of each office manager.  In such cases one agent must be designated as the primary agent and that Agent will be held responsible for all processing and compliance requirements.  All joint listing agreements shall be reduced to writing and provided to the cognizant office managers. 

13:3.15 Relocation & Bank REO Listings. 

A.  Listing Agreements.  Listing agreements supplied by any relocation company, bank, asset manager, or other entity shall not be accepted by any Associate without receiving the authorization of the office manager.  Master Listing Agreements shall always be accepted and signed by senior management only.      

B.  Obligating the Company for Payment of Bills Associated with the Listing.  Often Relocation and REO listed/pre-listed properties require the Company to pay utility bills as well as retain and compensate local vendors for maintenance, repairs and services related to the sale of the property.  Associates shall obtain prior consent from management before taking any action which obligates, or may obligate the Company to pay for those services.  Senior management may issue a blanket approval for those listing covered under a Master Listing Agreement.   

C.  Bad Debt.  Associates shall be held responsible for the collection all funds paid on behalf of a client.  Should an account be declared uncollectible, the cognizant Associate shall share in the loss of the bad debt the amount of which shall be established at the same rate as the Associates commission split at the time the debt was incurred.  The determination of “uncollectible” is the sole discretion of the broker.  Should a REO or Relocation Client not provide reimbursement within a reasonable period of time, no further expenses will be paid on behalf of that entity.  A list of those entities will be maintained by the Accounting Department.

D.  Utilities Companies not requiring a deposit.   Once approval has been obtained, Associates may contact utility companies to turn on utilities provided the utility company does not require a deposit.  NEVER USE THE OFFICE ADDRESS.  When utilities are activated in the name of the Company, only the corporate address of 550 Brick Blvd, Brick, NJ 08723 shall be used.  

E.  Utilities companies requiring a deposit.  In ALL such instances, the Accounting Department will contact the utility company and arrange for the service activation.  Under no circumstances is a utility deposit to be transferred from one property to another without the prior approval and knowledge of the Accounting Department.

F.  Approval Process.   In order to provide for efficient record keeping and authorization for payment, the approval must be requested and granted via eMail.  The request shall be sent the office manager and shall include the following:

- Listing Agent Name

- Complete Property Address

- Name of the Utility Company

- Name of the relocation company or financial institution responsible for reimbursement.

- The name (and if possible the account number) of the prior owner.

The office manager will provide approval by reply email and cc Accounting and the Relocation Manager (if the listing is associated with relocation).  By means of the reply email, the Associate or Accounting Department shall facilitate the activation of the utility(s).

G.  Limitations.  No single utility expense greater than $500.00 shall be paid by the Company without the approval of senior management.     

H.  Record Keeping.  The office manager shall cause the approved obligation to be added to the online master list of Utility Payment Obligations Register.   

I.  Non-Utility Company Expenses.  Require the advanced approval of management.  Senior management may provide blanket approval for expenses associated with a listed property under a master listing agreement.  All expenses exceeding $500.00 require the advanced approval of senior management.  

J.  Cash For Keys (CFK).  Will be considered on a case-by-case basis and shall require the approval of senior management.  

K.  Review of Accounts Receivable Prior to Closing.  Ten (10) business days prior to a closing of title, the Listing Agent shall review the transaction folder for any Relocation or REO transaction and determine that all reimbursements of monies paid by the Company on behalf of the client have been requested and properly processed.  

The provisions in this section do not apply to properties listed and managed under a Property Management Agreement for which the policy and procedures can be found in Section 23.

Leases and Lease Listings fall into one of two categories a) Non-Seasonal Leases and; b) Short Term or Seasonal Leases.  A Short Term or Seasonal Lease is defined as a lease of a residential property for not more than a 125 consecutive day time period. A non-seasonal lease is often referred to as an annual lease since many leases are written for a term of one year or more.  For the purposes contained within this policy manual, an annual lease shall mean any lease where the term is for a consecutive period of greater than 125 days.   

13.4.1  Personal checks are not be accepted as payment to CBRR for rental related brokerage services.  Should an Associate accept a personal check which proves to be worthless, the Associate shall be solely responsible for any loss to the Company or to the Client.  The right to an attorney review period on any Annual Lease prepared by a Licensee is an absolute right to the parties and cannot be waived.   

13:4.2 Commission.  The minimum commission for non-seasonal rentals is either 10% of the value of the yearly lease, or one month’s rent.  Should the lease be renewed by the tenant, the commission is due and payable upon renewal.  Should the tenant continue on in a month-to-month tenancy, the commission is 10% on each month’s rent paid by the tenant. The commission charged for seasonal rentals is a minimum of 10%. 

13:4.3 Security Deposits.  CBRR does not hold security deposits on behalf of landlords.  Security deposits are made payable directly to the landlord.

13:4.4 Annual Leases. 

A.  Advise the Landlord against giving a tenant possession to a property prior to the time that all monies due have been received in the form of guaranteed payment.

B.  Advise the Landlord of their obligation to file a Landlord Registration form with the municipality.  The specific requirements for each municipality are contained in Appendix P.

C.  Ensure that the Landlord completes the Lead-Based Paint Disclosure form for Landlords.  The Lead Paint Disclosure Form for Leases differs in language from the form used in for sale listings.

D.  Provide the Landlord with either an electronic link to the Truth in Renting Statement or a printed copy.  While this is not required, it provides for excellent client service and serves to inform the landlord of applicable laws while also providing a means of risk reduction to CBRR and its Associates.  Inform the landlord to consult the Truth in Renting Statement in regard to security deposits as well as other obligations they have.

E.  Where applicable, advise the Landlord of their obligation to make a copy of the Truth in Renting Statement available in the building where tenants can easily find it.  

13:4.5 Seasonal Leases. Reserved.

These responsibilities apply as appropriate to both for sale and for lease listings.  

A.  Listing Agreements.  Offices located north of and including Manahawkin shall use the Monmouth-Ocean MLS Agreement and offices located south of Manahawkin and on LBI shall use the Jersey Shore MLS Agreement.   Special attention must be taken to ensure that the Agreement is filled in completely and that the OCR copy is left with the Seller.   Non-fixture and personal property to be included in the sale shall not be entered into any MLS or offered as a part of the sale to any party unless the item is listed as “Included” on the Listing Agreement.  Likewise, any fixture not included in the sale must be listed as “Excluded” on the Listing Agreement.  Listing Agreements must abide by the contents of 2:3 herein or be refused.  

B.  MLS Entry.  Should the Listing Agent not be the person who submits the listing to the Multiple Listing Service (i.e. A personal assistant is to enter the listing data) the Listing Agent MUST provide an MLS Profile sheet completed in it’s entirety.  In such instances entries made into the MLS system are to be verbatim as written on the profile sheet.  In such cases, no data is to be entered into any MLS system unless it appears on the profile sheet.  The Listing Agent is responsible to confirm MLS data entries are correct and is held completely responsible for the accuracy of all listing data entered into a MLS.   

C.  Photos.  The Listing Agent is responsible to ensure that a minimum of six photos are taken, uploaded to each MLS in which the Associate participates,  and provided the Company for every residential or commercial listing.  One or more photos of vacant land listings are encouraged.  

D.  MLS Rules & Regulations.  The listing agent is responsible to be aware of and abide by all Rules and Regulations of any MLS to which the listing is submitted.  MLS rules are available online at the website of each MLS in which CBRR participates.   Listing Agents are solely responsible to promptly correct any notice of violation and are solely liable for the prompt payment of any fine imposed by the MLS.  Notices of violation are often distributed from the MLS directly to the listing agent solely at the email address contained in the MLS system.  Associates are responsible for maintaining a valid email address in each MLS system in which they are a participant.

E.  Required Documents.  Transactions are often unique and may require different documents.  The minimum required documents on every transaction are listed in Appendix K.  Associates and Managers must be mindful to review each transaction and ensure that any non-routine documents which may be required are contained in the transaction folder.    

The AccountTech Systems includes AccountTech, Darwin and Transaction Plan.  The AccountTech Systems are Internet based applications from which information is integrated into other management and marketing systems used by CBRR.  It is therefore critical that the information contained in the AccountTech System is accurately input and promptly updated as data changes occur. 

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