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.
New Jersey Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker In New Jersey, a Real Estate Salesman Independent Contractor Agreement is a legal document that outlines the terms and conditions between a real estate salesman and a real estate loan broker. This agreement is crucial in defining the working relationship and responsibilities of both parties involved. Keywords: New Jersey, Real Estate Salesman, Independent Contractor Agreement, Real Estate Loan Broker Types of New Jersey Real Estate Salesman Independent Contractor Agreements with Real Estate Loan Brokers: 1. Exclusive Agreement: This type of agreement grants the real estate salesman exclusive rights to work with a specific real estate loan broker. It ensures that all dealings and commissions from loans go through the designated broker. 2. Non-Exclusive Agreement: In contrast to an exclusive agreement, a non-exclusive agreement allows the real estate salesman to work with multiple real estate loan brokers simultaneously. This gives the salesman the flexibility to explore different opportunities and expand their client base. 3. Commission-Based Agreement: This type of agreement specifies that the real estate salesman will receive compensation based on a percentage of the commission earned from each loan transaction facilitated by the broker. The terms and calculations for these commissions are clearly defined within the agreement. 4. Fixed Fee Agreement: Alternatively, a fixed fee agreement may be established, where the real estate salesman is paid a predetermined amount for each loan transaction carried out by the broker. This arrangement provides a consistent income for the salesman, regardless of the loan's commission value. 5. Termination Agreement: This agreement outlines the circumstances under which either party can terminate the agreement, such as breach of contract, non-performance, or mutual agreement. It clearly defines the notice period required and any associated penalties or consequences. 6. Independent Contractor Relationship: The agreement should clearly establish that the real estate salesman is an independent contractor, not an employee of the real estate loan broker. This ensures that the salesman will not be entitled to employee benefits, such as health insurance or retirement plans. 7. Non-Compete Agreement: Depending on the circumstances, a non-compete clause may be included in the agreement, restricting the real estate salesman from engaging in similar business activities with competing loan brokers for a specified period. This protects the broker's proprietary information and client base. Overall, a New Jersey Real Estate Salesman Independent Contractor Agreement with a Real Estate Loan Broker is an essential document for defining the working relationship, commissions, obligations, and responsibilities between the parties involved. It provides clarity and legal protection for both parties and helps establish a transparent and professional working environment in the real estate industry.New Jersey Real Estate Salesman Independent Contractor Agreement with Real Estate Loan Broker In New Jersey, a Real Estate Salesman Independent Contractor Agreement is a legal document that outlines the terms and conditions between a real estate salesman and a real estate loan broker. This agreement is crucial in defining the working relationship and responsibilities of both parties involved. Keywords: New Jersey, Real Estate Salesman, Independent Contractor Agreement, Real Estate Loan Broker Types of New Jersey Real Estate Salesman Independent Contractor Agreements with Real Estate Loan Brokers: 1. Exclusive Agreement: This type of agreement grants the real estate salesman exclusive rights to work with a specific real estate loan broker. It ensures that all dealings and commissions from loans go through the designated broker. 2. Non-Exclusive Agreement: In contrast to an exclusive agreement, a non-exclusive agreement allows the real estate salesman to work with multiple real estate loan brokers simultaneously. This gives the salesman the flexibility to explore different opportunities and expand their client base. 3. Commission-Based Agreement: This type of agreement specifies that the real estate salesman will receive compensation based on a percentage of the commission earned from each loan transaction facilitated by the broker. The terms and calculations for these commissions are clearly defined within the agreement. 4. Fixed Fee Agreement: Alternatively, a fixed fee agreement may be established, where the real estate salesman is paid a predetermined amount for each loan transaction carried out by the broker. This arrangement provides a consistent income for the salesman, regardless of the loan's commission value. 5. Termination Agreement: This agreement outlines the circumstances under which either party can terminate the agreement, such as breach of contract, non-performance, or mutual agreement. It clearly defines the notice period required and any associated penalties or consequences. 6. Independent Contractor Relationship: The agreement should clearly establish that the real estate salesman is an independent contractor, not an employee of the real estate loan broker. This ensures that the salesman will not be entitled to employee benefits, such as health insurance or retirement plans. 7. Non-Compete Agreement: Depending on the circumstances, a non-compete clause may be included in the agreement, restricting the real estate salesman from engaging in similar business activities with competing loan brokers for a specified period. This protects the broker's proprietary information and client base. Overall, a New Jersey Real Estate Salesman Independent Contractor Agreement with a Real Estate Loan Broker is an essential document for defining the working relationship, commissions, obligations, and responsibilities between the parties involved. It provides clarity and legal protection for both parties and helps establish a transparent and professional working environment in the real estate industry.
