Overview
Real Estate Agent Commissions (REAC) is a platform designed to assist licensed real estate agents in understanding the commission amounts that will be paid when they bring a signed contract to the listing agent, and the sale closes. This platform complements, but does not replace, MLS (Multiple Listing Service). The membership terms and conditions listed below are the official rules of the program.
Membership
To become a member, individuals must be licensed real estate agents in any U.S. state or territory and pay the monthly membership fee as listed on our pricing page. Membership grants access to load and view listing information regarding commissions offered for buyer-agent participation.
By signing up, members agree to provide the following data when listing properties with commissions. A member can list a property and show zero commission if that is the case. We recommend that you list all of the properties you have contracted to list even if they will not pay a commission. Seller members will know what is not offered.
- MLS Number
- Street Address
- City
- Commission Percentage or other commission arrangement.
Brokers
Although all members join as individuals, brokers may sponsor or pay membership fees on behalf of their agents. Each agent must still have an individual membership account. In the event that an agent leaves a brokerage, REAC will cooperate with brokers to delete or transfer the agent’s listings, upon request and payment of a small administrative fee. Listings may be transferred to another agent if the original agent fails to maintain membership or upon broker request.
Data Ownership and Use
By entering data into the REAC platform, members agree that all submitted information becomes public domain. Once entered, the data is no longer the exclusive property of the member or REAC. REAC will not modify or edit any data unless instructed to do so by the member’s broker, subject to administrative fees. REAC is not responsible for ensuring the accuracy of the data entered by its members.
Termination of Membership
Members may terminate their membership either by failing to pay the monthly membership fee or by notifying REAC of their desire to cancel. Upon termination, property data associated with the member will be retained for 30 days to allow the broker sufficient time to transfer the listings to another agent if desired. After 30 days, the data may be deleted.
Change of Broker
When a member changes brokers, they must update their broker information in the membership area.. Members should note that retaining property data after changing brokers may violate their state regulations, and REAC takes no responsibility for such compliance issues. It is the member’s responsibility to ensure accurate and up-to-date brokerage information.
Credit Card Information and Billing
REAC does not store or have access to members’ credit card information. All payment data is processed securely through a third-party payment provider. When entering your payment information, all charges are final, and no refunds will be issued for processed payments. You may cancel your membership at any time, but cancellation will only affect future billing, and no retroactive refunds will be provided.
Communication
The official email address for communication from REAC is Member@reagentcomm.com. Members are advised to whitelist this email address to ensure they receive important communications. You may also contact us via the contact form available on our website.
Members will receive a bi-monthly newsletter. Apart from the newsletter, REAC respects your privacy and will limit communications to essential information or individual requests. We will never sell or share your contact details with third parties.
Tools
REAC provides members with various tools designed to assist in their professional activities. These tools are available for download and can be used without any additional charge. While members are free to share the results generated from using these tools, the tools themselves may not be sold or redistributed for commercial purposes. REAC encourages open collaboration and sharing of insights, but any commercial exploitation of the provided tools is strictly prohibited.
Privacy Policy
REAC is committed to protecting your privacy. We collect only the personal information necessary to maintain your membership and provide our services. This includes, but is not limited to, your name, license number, contact details, and listing information. REAC will never sell, trade, or disclose your personal information to third parties without your explicit consent, except as required by law. Please refer to our full privacy policy here.
Limitation of Liability
REAC provides a platform for listing commission information as a service to its members. However, REAC does not guarantee the accuracy or completeness of the data provided by members. By using this platform, you acknowledge that REAC is not liable for any inaccuracies, errors, or omissions in the data, nor for any losses, disputes, or claims that arise from the use of this data.
Modifications to Terms
REAC reserves the right to modify these terms and conditions at any time. Changes will be communicated to members via email, and continued use of the platform after changes are announced constitutes acceptance of the revised terms.
This version improves clarity, enhances professionalism, and adds sections on privacy, liability, and modification of terms that are commonly included in membership agreements. Let me know if you need further adjustments!