Luxury Property Solutions, LLC Retainer Fee

Retainer Fee

 

Luxury Property Solutions, LLC. is dedicated to enhancing your luxury property buying experience. To ensure our undivided attention to your specific needs, we offer a unique program involving a retainer fee.

How Our Retainer Program Works:

  1. Initial Consultation: After you submit the agreement, we’ll schedule a personal consultation to understand your real estate goals, timeline, and preferences.

  2. Retainer Fee: To solidify our partnership and demonstrate your commitment, a retainer fee ranging from $500 to $5,000 will be agreed upon during our consultation. This fee is based on your anticipated purchase price and is not due immediately but will be discussed during the consultation.

  3. Service Initiation and Payment: Based on your needs and timeline, we’ll determine the optimal time to initiate our services. At that point, we’ll finalize your preferred payment method for the retainer fee.

  4. Credit and Rewards: The full retainer fee amount will be credited towards the final commission due at closing, essentially making it a prepayment towards your purchase. Additionally, you’ll receive a bonus of 500 to 5,000 LPS tokens as a thank you for your commitment. These tokens offer various benefits within our ecosystem and can be used for future transactions or other exclusive advantages.

Example:

If your retainer fee is $2,000, you’ll receive 2,000 LPS tokens as a bonus.

Your Benefits:

  • Dedicated Focus: The retainer fee secures our dedicated attention to your real estate needs, ensuring we prioritize your search and provide personalized service.
  • Financial Advantage: Your initial investment is not an added cost but a credit towards your final commission, offering a financial advantage at closing.
  • Exclusive Rewards: You’ll receive a substantial bonus of LPS tokens, opening doors to various benefits and potential value within our network.

In Florida, real estate brokers can legally charge the following types of fees:

  • Commission: This is the most common fee and is typically a percentage of the sale price of the property. The commission is usually split between the listing broker (representing the seller) and the buyer’s broker. The average commission rate in Florida is around 5.5%-6% of the sale price.
  • Flat fee: Some brokers offer a flat fee structure instead of a commission percentage. This fee is agreed upon upfront and is not tied to the sale price.
  • Retainer fee: A retainer fee is an upfront payment that secures the broker’s services for a specific period. It may be credited towards the final commission or be a separate fee.
  • Hourly fee: Some brokers charge an hourly fee for specific services, such as consultations or negotiations.
  • Transaction fee: A transaction fee is a flat fee charged by the brokerage for processing the transaction, usually a few hundred dollars.
  • Marketing fees: Brokers may charge additional fees for marketing the property, such as photography, virtual tours, or advertising costs.

Retainer Agreement

This Retainer Agreement (“Agreement”) is made and entered into by and between Luxury Property Solutions, LLC., a Florida limited liability company (“LPS”), and the Client identified below:

Retainer Agreement
Retainer Agreement
  1. Services: LPS agrees to provide real estate brokerage services to Client, including but not limited to, assisting Client in the identification, evaluation, negotiation, and purchase of luxury real estate properties ("Services").
  2. Retainer Fee: In consideration for the Services, Client agrees to pay LPS a non-refundable retainer fee ("Retainer Fee"). The Retainer Fee is due and payable upon execution of this Agreement.
  3. Credit at Closing: The Retainer Fee shall be credited towards any commission earned by LPS in connection with the purchase of a property by Client. If the commission earned by LPS is less than the Retainer Fee, the Client shall not be entitled to any refund of the difference.
  4. LPS Tokens: Upon payment of the Retainer Fee, LPS will provide Client with LPS tokens equivalent up to two times (2X) the Retainer Fee. The terms and conditions governing the use and value of LPS tokens shall be set forth in a separate agreement.
  5. Non-Refundable: The Retainer Fee is non-refundable, even if Client does not purchase a property or terminates this Agreement prior to the purchase of a property. The Retainer Fee is deemed fully earned upon payment, regardless of whether a commission is earned by LPS.
  6. Termination: This Agreement may be terminated by either party upon written notice to the other. Upon termination, LPS shall have no further obligation to provide Services, and Client shall not be entitled to any refund of the Retainer Fee.
  7. Entire Agreement: This Agreement constitutes the entire agreement between the parties and supersedes all prior or contemporaneous communications and proposals, whether oral or written.
  8. Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the State of Florida.
Electronic Signature:

By typing my name below, I electronically sign this Retainer Agreement and agree to its terms and conditions.