An independent contractor is a person or business who performs services for another person under an express or implied agreement and who is not subject to the other's control, or right to control, the manner and means of performing the services. The person who hires an independent contractor is not liable to others for the acts or omissions of the independent contractor. An independent contractor is distinguished from an employee, who works regularly for an employer. The exact nature of the independent contractor's relationship with the hiring party is important since an independent contractor pays their own Social Security, income taxes without payroll deduction, has no retirement or health plan rights, and often is not entitled to worker's compensation coverage.
There are a number of factors which to consider in making the decision whether people are employees or independent contractors. No one factor is controlling, and the characterization of the relationship by the parties is also not controlling.
One of the most important considerations is the degree of control exercised by the company over the work of the workers. An employer has the right to control an employee. It is important to determine whether the company had the right to direct and control the workers not only as to the results desired, but also as to the details, manner and means by which the results were accomplished. If the company had the right to supervise and control such details of the work performed, and the manner and means by which the results were to be accomplished, an employer-employee relationship would be indicated. On the other hand, the absence of supervision and control by the company would support a finding that the workers were independent contractors and not employees. Whether or not such control was exercised is not the determining factor, it is the right to control which is key.
Another factor to be considered is the connection and regularity of business between the independent contractor and the hiring party. Important factors to be considered are separate advertising, procurement of licensing, maintenance of a place of business, and supplying of tools and equipment by the independent contractor. If the service rendered is to be completed by a certain time, as opposed to an indefinite time period, a finding of an independent contractor status is more likely.
A Colorado Real Estate Salesman Independent Contractor Agreement with a Real Estate Loan Broker is a legally binding document that establishes the relationship between a real estate salesman and a loan broker. This agreement outlines the terms and conditions under which the real estate salesman will work as an independent contractor for the loan broker. Keywords: Colorado, Real Estate Salesman, Independent Contractor Agreement, Real Estate Loan Broker The Colorado Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker typically includes the following key provisions: 1. Parties involved: This section identifies the real estate salesman and the loan broker. It includes their names, addresses, and contact information. 2. Services: This outlines the services the real estate salesman will provide as an independent contractor, which may include property listings, marketing, client representation, and assistance with loan applications. 3. Independent contractor relationship: This section clarifies that the real estate salesman is an independent contractor and not an employee of the loan broker. It states that the real estate salesman will be responsible for their own taxes, insurance, licenses, and other expenses. 4. Compensation: The agreement specifies how the real estate salesman will be compensated for their services. This may include a commission on sales or a flat fee arrangement. It also outlines the frequency and method of payment. 5. Term and termination: This section specifies the duration of the agreement and the circumstances under which either party can terminate the contract, such as for breach of contract or failure to meet agreed-upon obligations. 6. Confidentiality: It is common for the agreement to include a provision on confidentiality, preventing the real estate salesman from disclosing any confidential information obtained during the course of their work. 7. Non-compete agreement: In some cases, the agreement may include a non-compete clause, which restricts the real estate salesman from working for competing loan brokers within a specified geographical area for a certain period after the termination of the agreement. Types of Colorado Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker: 1. Exclusive Agreement: This type of agreement ensures that the real estate salesman will exclusively work with the loan broker and not pursue business opportunities with any other loan broker. 2. Non-exclusive Agreement: This type of agreement allows the real estate salesman to work with multiple loan brokers simultaneously, giving them more flexibility and potentially broader business opportunities. 3. Commission-Based Agreement: This type of agreement compensates the real estate salesman based on a percentage of sales or commissions generated from their efforts. The commission structure is typically outlined in this agreement. 4. Flat Fee Agreement: In this type of agreement, the real estate salesman receives a fixed fee for providing their services, regardless of the outcome or value of the real estate transactions. It is important for both the real estate salesman and the loan broker to thoroughly review and understand the terms and conditions of the Colorado Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker before signing it to ensure their rights, obligations, and expectations are clearly defined.
