broker policy
Updated May 2024
POLICY: Our agent/broker fee is a referral fee for walking in your client. Like most builders, we have a strict policy of requiring agents/brokers to accompany their clients on their first visit to a neighborhood, preview event or information seminar. We do not credit any commissions to the buyers through escrow, and we do not pay a commission to a principal buyer. See Broker Cooperation Terms and Conditions below.
PRIORITY ORDER: If a Priority List is available for the community your client is interested in, your client should register on the Priority List as may available for such community through the Company’s website or by contact the applicable sales manager. We can only sell to a buyer (client) who has a Priority Position (not agents/brokers Priority Position). We will attach the agent/broker to the client only if the agent/broker accompanies the client into the community on their first visit, including preview events prior to Model Opening such as private tours, dusty shoes and VIP events and information seminars.
REGISTERING: On your client’s first visit to the community or on their first visit to a preview event, you must accompany them and complete our Broker Registration form. You will only be allowed to register your client and attach yourself to their file if your client has not visited the community or attended a preview event before. While you are always welcome, from that point forward you no longer need to accompany your client on future visits.
MARKETING: New Home Co. understands that in order to successfully sell real estate brokers must also have thoughtful marketing campaigns. Although we support local broker efforts to market our neighborhoods for sale, we maintain the exclusive rights to all text, imagery and video assets located on our website or other New Home Co. created marketing material. Use of any marketing assets requires approval by New Home Co.
BROKER COOPERATION TERMS AND CONDITIONS**:
1. Broker cooperation shall be paid only for New Home Co. residences or communities in which New Home Co. specifically advertises the availability of broker cooperation.
2. Broker cooperation may not be offered for all residences in a community.
3. Broker cooperation amounts and terms may differ from community to community and residence to residence.
4. New Home Co. is not obligated to offer broker cooperation and, if offered, the broker cooperation shall be in an amount and terms determined by New Home Co. in its sole discretion.
5. New Home Co. may withdraw an offer of broker cooperation or change the terms of such offer, including the residences covered by the offer, at any time without notice.
6. If offered, broker cooperation shall be offered only to brokers who hold a valid and active real
estate license in the applicable jurisdiction where such broker cooperation is offered.
7. Depending on the community, homebuyers who are licensed real estate brokers or salespersons may be entitled to broker cooperation.
8. The broker must accompany the homebuyer at the homebuyer’s first visit to the community, preview event or information seminar.
9. At such first visit the broker and homebuyer must execute and deliver all broker cooperation documents and materials required by New Home Co. (“Co-op Documents”).
10. The Co-op Documents shall apply only to the community and residence described in the Co-op Documents and not to any other community or residence.
11. The Co-op Documents may not be assigned by the broker or homebuyer.
12. The broker cooperation fee shall be paid if and only if the homebuyer closes on the purchase of the residence specified in the Co-op Documents. If the closing does not occur for any reason, including the fault of the seller, no broker cooperation amount shall be paid.
13. New Home Co. shall have no obligation to provide the broker with notices or other information of any kind regarding the purchase of a home by the homebuyer.
14. The broker and any salesperson representing the homebuyer under the broker must have valid real estate brokers/salesperson license(s) in the applicable jurisdiction where the broker cooperation is offered at the time of the execution of the Co-op Documents and the closing for the purchase of the residence described in the Co-op Documents.
**Broker co-op terms and conditions are subject to change without notice and may vary by New Home Co. division, community or residence. New Home Co. may offer additional broker cooperation incentives from time to time (e.g., tiered broker cooperation payments or payments of a portion of the broker cooperation fee prior to home closing if certain milestones are
reached). Any such incentives offered by New Home Co. shall be subject to the terms and conditions of the Co-op Documents applicable to such incentives. Please contact a New Home Co. sales representative for more details. If there is any conflict between the above listed terms and conditions and the terms and conditions of any Co-op Documents, the Co-op Documents shall control.
ADDITIONAL BROKER COLLECTIVE DISCLAIMERS & RESTRICTIONS: In connection with New Home Co’s Broker Collective program, in addition to all terms and conditions set forth in the above policy, Brokers must comply with all terms and conditions set forth in a specific pre-close addendum executed along with the other Co-Op Documents. Early Commission payments shall not exceed homebuyer deposit and loan approval contingency release must be verified by the applicable buyer. Applicable only for new purchase and sale agreements executed after May 10, 2024. Consult sales manager for details. Not applicable at all communities. Program subject to change or cancellation without notice at any time.
POLICY: Our agent/broker fee is a referral fee for walking in your client. Like most builders, we have a strict policy of requiring agents/brokers to accompany their clients on their first visit to a neighborhood, preview event or information seminar. We do not credit any commissions to the buyers through escrow, and we do not pay a commission to a principal buyer. See Broker Cooperation Terms and Conditions below.
PRIORITY ORDER: If a Priority List is available for the community your client is interested in, your client should register on the Priority List as may available for such community through the Company’s website or by contact the applicable sales manager. We can only sell to a buyer (client) who has a Priority Position (not agents/brokers Priority Position). We will attach the agent/broker to the client only if the agent/broker accompanies the client into the community on their first visit, including preview events prior to Model Opening such as private tours, dusty shoes and VIP events and information seminars.
REGISTERING: On your client’s first visit to the community or on their first visit to a preview event, you must accompany them and complete our Broker Registration form. You will only be allowed to register your client and attach yourself to their file if your client has not visited the community or attended a preview event before. While you are always welcome, from that point forward you no longer need to accompany your client on future visits.
MARKETING: New Home Co. understands that in order to successfully sell real estate brokers must also have thoughtful marketing campaigns. Although we support local broker efforts to market our neighborhoods for sale, we maintain the exclusive rights to all text, imagery and video assets located on our website or other New Home Co. created marketing material. Use of any marketing assets requires approval by New Home Co.
BROKER COOPERATION TERMS AND CONDITIONS**:
1. Broker cooperation shall be paid only for New Home Co. residences or communities in which New Home Co. specifically advertises the availability of broker cooperation.
2. Broker cooperation may not be offered for all residences in a community.
3. Broker cooperation amounts and terms may differ from community to community and residence to residence.
4. New Home Co. is not obligated to offer broker cooperation and, if offered, the broker cooperation shall be in an amount and terms determined by New Home Co. in its sole discretion.
5. New Home Co. may withdraw an offer of broker cooperation or change the terms of such offer, including the residences covered by the offer, at any time without notice.
6. If offered, broker cooperation shall be offered only to brokers who hold a valid and active real
estate license in the applicable jurisdiction where such broker cooperation is offered.
7. Depending on the community, homebuyers who are licensed real estate brokers or salespersons may be entitled to broker cooperation.
8. The broker must accompany the homebuyer at the homebuyer’s first visit to the community, preview event or information seminar.
9. At such first visit the broker and homebuyer must execute and deliver all broker cooperation documents and materials required by New Home Co. (“Co-op Documents”).
10. The Co-op Documents shall apply only to the community and residence described in the Co-op Documents and not to any other community or residence.
11. The Co-op Documents may not be assigned by the broker or homebuyer.
12. The broker cooperation fee shall be paid if and only if the homebuyer closes on the purchase of the residence specified in the Co-op Documents. If the closing does not occur for any reason, including the fault of the seller, no broker cooperation amount shall be paid.
13. New Home Co. shall have no obligation to provide the broker with notices or other information of any kind regarding the purchase of a home by the homebuyer.
14. The broker and any salesperson representing the homebuyer under the broker must have valid real estate brokers/salesperson license(s) in the applicable jurisdiction where the broker cooperation is offered at the time of the execution of the Co-op Documents and the closing for the purchase of the residence described in the Co-op Documents.
**Broker co-op terms and conditions are subject to change without notice and may vary by New Home Co. division, community or residence. New Home Co. may offer additional broker cooperation incentives from time to time (e.g., tiered broker cooperation payments or payments of a portion of the broker cooperation fee prior to home closing if certain milestones are
reached). Any such incentives offered by New Home Co. shall be subject to the terms and conditions of the Co-op Documents applicable to such incentives. Please contact a New Home Co. sales representative for more details. If there is any conflict between the above listed terms and conditions and the terms and conditions of any Co-op Documents, the Co-op Documents shall control.
ADDITIONAL BROKER COLLECTIVE DISCLAIMERS & RESTRICTIONS: In connection with New Home Co’s Broker Collective program, in addition to all terms and conditions set forth in the above policy, Brokers must comply with all terms and conditions set forth in a specific pre-close addendum executed along with the other Co-Op Documents. Early Commission payments shall not exceed homebuyer deposit and loan approval contingency release must be verified by the applicable buyer. Applicable only for new purchase and sale agreements executed after May 10, 2024. Consult sales manager for details. Not applicable at all communities. Program subject to change or cancellation without notice at any time.
