Employer contracts with a certified or registered broker as independent contractor to provide brokering services for employer as specified and agreed upon in the contract.
Nebraska Broker Agreement - Self-Employed Independent Contractor
State:
Multi-State
Control #:
US-INDC-133
Format:
Word;
Rich Text
Instant download
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How to fill out Broker Agreement - Self-Employed Independent Contractor?
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FAQ
Yes, the broker may monitor an independent contractor's compliance with continuing education requirements and instruct the independent contractor to attend classes.
What is an independent contractor? The IRS definition of an independent contractor is a professional who offers and provides services to others. The IRS taxes the independent contractor as a self-employed individual. They are not considered employees.
An independent contractor is a person who provides services to a company but is not an employee of that company. These are two categories someone could fall into when they start working. In real estate, agents are usually considered independent contractors working under the owner of the agency they are affiliated with.
For agents who join RE/MAX as independent contractors, they can earn as much as 100% of their commission and are allowed to operate as their own independent entity and are not under the direct control of an office.
May a broker conduct performance reviews with independent contractors? c. Yes, brokers may review all aspects of the work of independent contractors, including meeting sales goals, office conduct, clerical duties and legal compliance.
What can a broker require of his independent contractors? They must attend all sales meetings. They must have a signed a written work agreement.
-The broker must file yearly the IRS Form 1099-MISC for any independent contractor licensee who earns more than $600. The broker should provide a copy of this form, which reports the licensee's total earnings for the year, to the licensee for his or her records.
Which of these may a sponsoring broker dictate to an independent contractor? The answer is compensation the person would receive. The employment agreement defines the employment or independent contractor relationship, including supervision, duties, compensation, and termination.
Some of the common characteristics of an independent contractor include:Furnishes equipment and has control over that equipment.Submits bids for jobs, contracts, or fixes the price in advance.Has the capacity to accept or refuse an assignment or work.Pay relates more to completion of a job.More items...