No Longer Effective as of 02/19/2024 | Click Here to View Updated Terms and Conditions
Subscription Agreement
This Subscription Agreement ("Agreement") is established between Cheetah, a duly licensed real estate brokerage operating under DRE License 01948981, 02172960 ("Cheetah"), and the subscribing real estate agent ("Agent"):
Subscription Plans:
- a. Cheetah X Plan: Agent acknowledges that enrollment in this plan incurs no initial membership fee. However, a nominal system implementation fee of $1.00 per month applies. Under this plan, Agent is entitled to 80% of their commission, while Cheetah retains 20%. Agent acknowledges that the Cheetah X plan cannot upgrade to the Cheetah Pro or Cheetah Pro+ plans until a successful transaction is completed.
- b. Cheetah Pro Plan: Agent agrees to a monthly subscription fee of $149. Under this plan, Agent receives 100% of their commission, with no portion retained by Cheetah.
- c. Cheetah Pro+ Plan: Agent commits to an annual subscription fee of $1499. This plan guarantees Agent's receipt of 100% of their commission, without any portion withheld by Cheetah.
Payment Obligations:
- a. Agent must fulfill payment obligations promptly and according to agreed terms.
- b. Agent acknowledges that subscription plans are completely nonrefundable.
- c. Cheetah is not liable for agent fees, fines, or charges. In case of legal action due to non-compliance, Agent is responsible for both their attorney fees and Cheetah's legal expenses. Cheetah reserves the right to terminate Agent for non-compliance, and Agent will cover incurred legal costs.
Agent Responsibility:
- a. Agent hereby acknowledges that Cheetah is not liable for actions, fines, or penalties stemming from Agent's real estate activities. Agent is responsible for conducting their real estate activities in compliance with all applicable Department of Real Estate Laws, including but not limited to adhering to the code of ethics and standard practices established by the real estate industry.
- b. Agent further acknowledges that Cheetah holds paramount importance in upholding professional, ethical, and legal behavior among all agents operating under the brokerage. Agent commits to maintaining the highest standards of conduct and integrity in their dealings.
- c. Cheetah's commitment to fostering a professional and compliant environment underscores its emphasis on ethical business practices. It is imperative that Agent conducts their real estate transactions with transparency, honesty, and fairness.
- d. By affiliating with Cheetah, Agent signifies their agreement to adhere to these principles and demonstrate professional conduct at all times. Cheetah seeks to cultivate a community of agents who are not only successful but also contribute positively to the real estate industry's reputation.
Team Formation:
- a. Upon forming a team, Agent shall notify Cheetah. Submission of a Team Leader Contract for Cheetah's review and approval is mandatory.
Legal Disclaimer:
- a. Agent acknowledges Cheetah operates solely as an online real estate brokerage platform, not providing legal advice. Agent is solely responsible for complying with applicable laws.
Additional Clauses:
- Upgrading Limitation: Agent acknowledges that the Cheetah X Plan cannot upgrade to the Cheetah Pro or Cheetah Pro+ plans until a transaction is successfully completed.
- Agent Fee Liability: Cheetah is not liable for agent fees, fines, or charges. In case of legal action due to non-compliance, Agent is responsible for both their attorney fees and Cheetah's legal expenses. Cheetah reserves the right to terminate Agent for non-compliance, and Agent will cover incurred legal costs.
- Non-Refundable Plans: Agent acknowledges that subscription plans are completely nonrefundable.
- Payment Card Decline: Should an Agent's payment card on file decline on the day of recurring payment, the Agent shall be granted 14 days to rectify the payment. Failure to do so will result in automatic downgrade to the Cheetah X Plan, with the commission split adjusted to 80/20.
- Payment Non-Compliance with Property Under Contract: In case of non-payment within the 14-day grace period while under the Cheetah Pro or Pro+ Plan with a property under contract, the Agent's commission structure shall change to 80/20. Agent will receive 80% commission, while Cheetah retains 20%.
Hang Now, Pay Later Program Agent Affiliation Agreement:
This Agreement ("Agreement") is entered into between Cheetah, a duly licensed real estate brokerage operating under DRE License 01948981, 02172960 ("Cheetah"), and the affiliated real estate agent ("Agent").
Agent Acknowledgment:
By affiliating with Cheetah and participating in the Hang Now, Pay Later Program, the Agent hereby acknowledges and agrees to the following terms:
- Commission Split: The Agent acknowledges and accepts the 80/20% commission split, where the Agent receives 80% and Cheetah receives 20% of the commission from transactions.
- 30-Day Trial Period: The Agent is entitled to a 30-day trial period during which they can experience the benefits of the Cheetah platform free of charge.
- Commitment Option: At the conclusion of the 30-day trial period, the Agent has the option to commit to a paid plan, including Cheetah Pro or Pro+, to ensure continuous access to the platform's features and resources.
- Transition to Cheetah X: If the Agent chooses not to commit to a paid plan, they will automatically be transitioned to the Cheetah X plan. The commission split remains at 80/20%, with 80% allocated to the Agent and 20% to Cheetah.
- Upgrade Limitation: The Agent acknowledges that the Cheetah X plan cannot be upgraded to Cheetah Pro or Pro+ until the Agent successfully closes a transaction.
By affiliating with Cheetah, the Agent confirms their understanding of the terms and their commitment to abiding by them while enjoying the privileges of the Hang Now, Pay Later Program.
Confidentiality Clause
Both parties, Cheetah and the Agent, acknowledge the sensitivity of certain proprietary and confidential information that may be shared during the course of their business relationship. The Agent agrees to treat all such information, including but not limited to client data, operational processes, and intellectual property, with the utmost confidentiality. This includes refraining from sharing, disclosing, or using such information for personal gain or to the detriment of Cheetah's business interests. The Agent acknowledges that any breach of this confidentiality clause may result in legal action and financial liabilities.
Illegal Activities:
Agent acknowledges and agrees that any engagement in illegal activities, including but not limited to fraudulent practices, violation of real estate laws, or any other unlawful actions, is strictly prohibited. In the event that Agent is found to be involved in any illegal activities, Cheetah reserves the right to terminate Agent's affiliation with immediate effect. Such termination may occur with or without cause, and the Agent acknowledges that any unpaid subscription fees or outstanding obligations will remain due even after termination. In addition, Agent is solely responsible for any legal consequences arising from their unlawful actions. Cheetah disclaims any liability for any legal actions or penalties imposed on Agent due to their illegal activities.
Termination
Cheetah has the right to terminate any affiliated Agent(s) at their discretion at any time without reason. Cheetah reserves the right to terminate the Agent's affiliation with the brokerage and access to its services in the event of non-compliance with the terms and conditions outlined in this Agreement. Such termination may occur with or without cause, and the Agent acknowledges that any unpaid subscription fees or outstanding obligations will remain due even after termination. All subscription fees are non-refundable.
Amendment of Agreement
The Agent acknowledges and agrees that this Subscription Agreement is subject to change or modification at any time by Cheetah. Such changes or modifications may include updates to the terms, conditions, fees, or any other provisions outlined in this Agreement. Cheetah will notify the Agent of any amendments to this Agreement, and the Agent's continued use of Cheetah's services following such notification constitutes acceptance of the updated terms. It is the Agent's responsibility to regularly review the Agreement for any changes and to ensure compliance with the most recent version.
By subscribing, Agent accepts and comprehends the terms of this Agreement.
Termination of affiliation with Cheetah, as specified in this Agreement, does not relieve Agent of their responsibility to continue adhering to all applicable laws, ethical guidelines, and standard practices.