Policy Manual 2018
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Page Count: 8
Revised: 8/17/2018 1
Taylor Properties/Anne Arundel Properties
Commission Pricing Plans
E & O
(Total for the Year)
See page 3
Side VA, DC)
Admin Fee to
(Sale/Each Side VA,
100% Plan A
100% Plan B
85% Plan A
85% Plan B
▪ You may charge each client a reasonable admin. fee up to $395.00 total for
administrative time and expenses. Any amount collected from the client, higher than the
above listed admin. fee ($139 or $295) will be paid to you (the agent) as additional
income. If you are on the 85% commission split, we will keep 15% of this additional
▪ You may choose to pay the admin. fee for your client from your commission.
▪ You may not charge an admin. fee to landlords or tenants. However, we do charge the
agent a Broker fee of $89 on any rental or referral income. You may charge the tenant a
reasonable application fee up to $89.
▪ The required admin. fee form must be signed by your buyers/sellers with the Buyer
Agency Agreement or with the Listing Agreement.
Revised: 8/17/2018 2
Commission Plan Monthly Payments
▪ All monthly payments are due in the office no later than the 1st of each month.
▪ A $25 late fee will be added to your bill after the 5th.
▪ For your convenience, an automatic payment plan is available. Your credit card is kept
on file and charged on the 1st of each month.
▪ There will be a $35 retuned check fee on all returned checks.
▪ Monthly dues & E/O will not be paid from commission income unless approved by the
▪ If we are holding escrow, the contract must be uploaded to our inter-
office system and escrow money is required to be received in the main office
within 48 hours of the acceptance date.
▪ If a title company or attorney is holding escrow on a sales contract, you are
required to provide the in-house form; Escrow Agreement Between Buyer,
Seller, and Title Company. For builders, sellers, or third parties other than
an attorney or title company holding the earnest money, we require a letter
confirming the amount of escrow funds received and the date the funds were
▪ Listings and contracts where we are not holding escrow are required to be
uploaded to our inter-office system within 1 week of acceptance.
▪ We do not accept contracts and listings via fax. You must upload to our
▪ FAILURE TO COMPLY WITH THE ABOVE TIMELINE POLICIES WILL
SUBJECT YOU TO A $50 fine.
▪ Releases and/or extensions must be received by the office within 1 week.
▪ Agents must verify that all required paperwork is submitted using the
specified checklist provided.
▪ Once the paperwork is uploaded, we will check over all listings and
contracts. You will receive an email if we are missing documents. The
missing documents must be received by the office within 1 week.
▪ Check Mailing Policy-escrow refunds: If your clients do not receive a
mailed check from us, they will have to wait 30 days for us to reissue a new
check, or they have the option to pay a $35 "Stop Payment Bank Charge" to
Revised: 8/17/2018 3
have a new check reissued immediately or they may wait until after the 30-
day period and we will pay the stop payment fee.
▪ AAP/TP doesn't make showing appointments. It is your responsibility to
arrange the showings. Use ShowTime (Mris) or you can use CSS for
showings (866) 891-7469. Agents are required to keep their voicemail
accessible for potential clients, agents and/or showings. If the office
becomes involved, you will be charged accordingly.
▪ If you go on vacation, it is mandatory that you let the office know and make
sure your completed files are at the main office and are correct and updated.
It is your responsibility to find another AAP/TP agent to cover your
transactions, calls, etc. while you are away. If the office becomes involved,
you will be charged accordingly.
Errors and Omissions Insurance
Fees for E & O Insurance are influenced by the insurance market and may change
February 1st (March - February)
(170 every 6
February 1st (March -
(Sept. - Feb.)
* Agents pay a discounted yearly fee subsidized by broker for plan A
This E&O insurance coverage fee by Broker to Agent is not just to reimburse the
Broker for this one 3rd party policy, it includes much more paid by the Broker than
the basic Agent coverage under the Broker’s E&O Policy.
▪ The $5,000.00 Deductible for the Agent and/or the Broker is paid in most
cases by the Broker instead of the agent in the event that a claim arises.
▪ The Broker maintains and pays for general liability and other necessary
insurance policies and pays the deductible when applicable.
▪ Most Lawsuits, regulatory complaints, and other Association/MLS
violations concerning Agents are filed against the Broker only, or in addition
to the Agent. In most cases, the Broker absorbs this costs for attorneys,
settlements, judgements, or penalties without recourse to the agent.
Revised: 8/17/2018 4
Payment of Commissions
When you settle with Heritage Title, your commission check will be provided
to you at the settlement table. A "completed package" is required before
settlement, for same day payment. If you settle with a different title company,
commission will be mailed four business days from the date we receive a
"completed package” by 3 p.m.
***A completed package consists of the following and must be Uploaded:
• A complete listing agreement and/or sales contract; or rental listing
and/or lease agreement.
• A LEGIBLE CD (Closing Disclosure) with all appropriate signatures in
• If you cannot provide a CD from both buyer/seller then, Alta Settlement
Statement combined must be submitted.
• A completed and signed "Commission Breakdown" form.
Please note we have no control over the delivery time frame if mailed through
the United States Postal Service.
Check Mailing Policy
Commission Checks can be mailed to your requested address. If the check is
lost in the mail, you are responsible for the "Stop Payment" bank fee of $35 to
reissue the check. The fee will be deducted from your commission.
We can FedEx your commission check overnight to you at your expense. The
fee will also be deducted at the time of commission processing.
Revised: 8/17/2018 5
Anne Arundel/Taylor Properties participate in an Affiliated Business
Arrangement with Heritage Financial (800-351-5755)
• Heritage Financial offers your clients a "Best Rate Guarantee". If they
cannot beat another lender's rate/points, they will give your client
$500.00 and they can still use the other lender.
• Heritage Financial must receive a "Good Faith Estimate" from the other
lender, dated the same day as their rate quote to compare and the clients
must close with Heritage Title.
• The required Affiliated Business Arrangement forms need to be signed
by all buyers and submitted with the contract. Forms are provided.
We can help you and your clients more when you use our "in-house" Mortgage
and Title companies.
Anne Arundel Properties/Taylor Properties participate in an Affiliated Business
Arrangement with Heritage Title.
• If you settle with Heritage Title, all title orders are only $695!
• Heritage Title has a $100 best fee guarantee.
• Forward your completed "Title Order" forms and contracts to Heritage
Title for processing.
• All title orders will be processed through Heritage Title at: 410-571-6396
• You may settle at any location at any time without any additional travel
The required Affiliated Business Arrangement forms need to be signed by all
buyers and submitted with the contract. Forms are provided.
Revised: 8/17/2018 6
Standard company business cards (500 printed front and back) advertising
Heritage Financial and Heritage Title, on the back, will be paid up front by the
agent and after the agent's first settlement with Heritage Financial or Heritage
Title, we will reimburse you. Agents continuing to use Heritage Financial
and/or Heritage Title will receive free business card re-orders.
Keep in mind all orders not approved by our Office Manager, Delia Abrams,
that deviate from our standard format will be changed and re-ordered at the
Agents who list properties for sale will need various signs to service those
listings. Most signage is ordered in quantity, continuously stocked here and
available at cost.
All name riders must have our broker number (800-913-4326) on them. With a
total of 3 lines there are 2 additional lines available, to put a cell number and/or
• We use Dee Signs for riders and they are roughly $100.00 for 5 riders.
(prices are subject to change).
• Agents may use any sign company of their choice, for signs and/or riders;
however, you must get approval by the office before they are printed.
All advertisements (flyers, postcards, websites, business cards, magazines,
newspapers, etc.) must be approved by our Office Manager before they are
printed. Everything must include the broker number (800-913-4326) and the
• All agents (including Branch Managers) must have the “Broker” phone
number on ALL business cards and advertising.
Revised: 8/17/2018 7
• “Office Phone” wording cannot be used by any agents except branches
where it’s use is optional. If used at branches it must be the true physical
phone number that connects directly to the Manager’s desk at the office.
• Business Cards
Branches-must use branch office address. All others must use Annapolis
• All other advertising
No Address is required. However, if an address is used it must be the branch
address if applicable or the Annapolis address on all others.
Addenda and Forms
We would like to emphasize the importance of using the resources available to
our agents. We use SkySlope for document management. Our company
website is available at any time to get checklists, commission breakdown
sheets, in-house forms and logos.
Revised: 8/17/2018 8
Heritage Title & Heritage Financial
• Heritage Title: $695 flat rate!
* Guarantee that Heritage Title fees will be lower than any competitor!
• Heritage Financial: $500 Best Rate Guarantee for your
Your support of our two Affiliated Businesses provides the
income that allows us to keep your fees low while increasing
the services that we provide for you.
*$695 does not include title insurance and 3rd party fees. No other discounts or coupons may be applied to these prices.