PARTNER AGENT TERMS
Revised: August 10, 2024
1. YOUR CONSENT TO DO BUSINESS ELECTRONICALLY.
Aalto, Inc., dba Titus (“Titus”, “we”, “our” or “us”) provides the Services, as such term is defined in the Titus Terms of Use, provided at gotitus.com/terms(the “TOU”). By using the Services as a Titus-approved real estate agent or broker (a “Partner Agent”), you also agree to be bound by the TOS, and its terms are hereby incorporated by reference (together with these Partner Agent Terms, this “Agreement”). Titus may, at its discretion, update these Partner Agent Terms at any time. You can access and review the most current version of these Partner Agent Terms at the URL for this page or by clicking on the “Partner Agent Terms” link within the Services, or as otherwise made available by Titus.
PLEASE REVIEW THIS AGREEMENT CAREFULLY. BY REGISTERING FOR A PARTNER AGENT ACCOUNT OR OTHERWISE ACCESSING OR USING THE SERVICES AS A PARTNER AGENT, YOU AGREE TO BE BOUND BY THIS AGREEMENT AND TITUS’ ESIGN CONSENT (WHICH IS INCORPORATED HEREIN BY REFERENCE), INCLUDING ANY UPDATES OR REVISIONS POSTED HERE OR OTHERWISE COMMUNICATED TO YOU. IF YOU DO NOT AGREE WITH THE TERMS AND CONDITIONS OF THIS AGREEMENT, YOU MAY NOT ACCESS OR USE THE SERVICES AS A PARTNER AGENT.
You represent and warrant that you: (a) meet the eligibility requirements set forth in Section 2(b) ; (b) are of legal age to form a binding contract; (c) have the right, authority, and capacity to agree to and abide by this Agreement; and (d) are not a person barred from using the Services under the laws of any applicable jurisdiction. THE SERVICES ARE NOT INTENDED FOR USERS UNDER THE AGE OF 18, AND SUCH USERS ARE EXPRESSLY PROHIBITED FROM SUBMITTING ANY PERSONAL DATA OR USING ANY ASPECT OF THE SERVICES, AND BY TAKING SUCH ACTIONS YOU AGREE, REPRESENT, AND WARRANT THAT YOU ARE 18 YEARS OF AGE OR OLDER.
2. SERVICES
(a) Nature of the Services. The Services offer functionality that allows real estate agents to refer their clients listing their homes for sale to apply for, and such individual homeowners to submit applications for a closed-end installment loan (a “CLOC”), the proceeds of which such homeowners can use to improve their property in preparation for its sale. CLOCs are provided by Titus and loan eligibility and terms are not guaranteed and are subject to credit approval and underwriting by Titus.
(b) Eligibility Requirements. To be eligible to participate in the Services as a Partner Agent, you must meet each of the following requirements during the entirety of the term of this Agreement:
(i) Your real estate license must be active and in good standing in each state in which you act as a real estate agent or broker, and such license must be maintained as active and in good standing at all times while using the Services as a Partner Agent;
(ii) There must be no outstanding complaints against you with the applicable Department of Real Estate or similar state entity, NAR or MLS;
(iii) There must be no pending legal proceedings related to your real estate business or any other functions you perform as a real estate agent or broker;
(iv) You must accurately represent the Services and their value and you shall not make or give any representations, warranties or other promises concerning the Services which are not approved by Titus in writing;
(v) You must complete the required onboarding with the Titus team and remain current with Titus’ product and loan terms;
(vi) You must only invite clients of yours with whom you have a signed listing agreement, and you must provide such listing agreement to Titus subject solely to Titus’ satisfaction in its sole discretion;
(vii) You must work exclusively with Titus and not recommend other renovation - to - sell services or loans in combination with the Services (including without limitation any CLOC);
(viii) You must not seek or accept compensation from Titus; and
(ix) You must agree to provide accurate listing and client information to the best of your knowledge;
(c) Scope of Authority. As a Partner Agent and in connection with your promotion of the Services to your clients, you agree that your sole authority shall be to market and promote the Services to your clients who, to the best of your knowledge, meet the criteria set forth in Section 2(d) below. You agree that Titus will directly enter into agreements with your clients in respect of the Services, including without limitation the Titus Terms of Use provided at gotitus.com/terms and, if a client’s CLOC application is accepted, a loan agreement and related documentation. You have no authority, and shall not hold yourself out, or permit any person to hold itself out, or otherwise create the impression that, you are authorized to bind Titus in any capacity. You must further disclose to each applicable client that you have no authority or ability to negotiate or vary the Services, the terms of any CLOC or other loan provided by Titus or its designated third party loan provider, or enter into any contract or agreement on behalf of Titus.
(d) Authorizing Clients. You, as a Partner Agent, will have the ability to authorize your clients to have access to the Services for the purpose for applying for a CLOC. You represent and warrant to Titus that, to the best of your knowledge, each client you authorize to access the Services will: (i) own an approved property type (single - family home or condo); (ii) own a home in a simple, common ownership structure; (iii) have a home that could benefit from rehabilitation or renovation; (iv) have three times (3x) the home equity of the desired CLOC amount; (v) own a home expected to sell quickly as compared to the general market; and (vi) have a “good” credit score above 650.
(e) Partner Agent Obligations. In addition to any and all of your obligations hereunder, you, as a Partner Agent, must comply with the following:
(i) If a client gives you the ability to move money on their behalf, you shall do so only in full compliance with applicable law, shall not draft a transfer in excess or outside of the bounds of such client’s authorization;
(ii) You will not act as a general contractor and will recommend only licensed contractors (or contractors who meet any other applicable licensing or other legal, administrative or regulatory requirement ) to your clients in connection with home renovations financed with the proceeds of the CLOC;
(iii) Any anticipated pre - market work on the property intended for sale is not expected to exceed forty - five (45) days;
(iv) If the property intended for sale is not yet listed on the MLS, you and your client will have sixty (60) days from the date your client receives funds from Titus to list the property on the MLS, or risk acceleration of the repayment obligation of the CLOC, as further set forth in the loan agreement;
(v) You must notify Titus within two (2) days of any status changes to any listing agreement applicable to your clients who have accessed or used the Services, including without limitation:
(A) Listing cancellation;
(B) Listing expiration;
(C) Listing renewal;
(D) The home is taken off the market;
(E) The home goes under contract; or
(F) The home is sold.
(vi) You must provide Titus with the name of the title officer, closing attorney and escrow officer as soon as you are aware of such information in relation to a sale of a subject property; and
(vii) You must ensure that Titus’ final invoice is sent to the applicable closing attorney and/or title officer immediately upon the subject property becoming subject to a pending sale.
3. FEES
(a) Payment. You shall pay all agreed upon fees for all products or features ordered through the Services as set forth in the order confirmation page (“Fees”) in accordance with the terms set forth in this Agreement and any additional terms set forth on the Services . Such Fees will include, without limitation, a CLOC setup fee for each of your clients who is approved by Titus for a CLOC.
(b) Payment Terms and Third Party Providers. All payments will be made in United States dollars and are non - refundable. You hereby (i) acknowledge and agree that Titus uses or may use a third party payment provider in connection with its collection of Fees, (ii) acknowledge and agree that Titus will not be responsible for any payments or charges as a result of your failure to provide up - to - date and accurate information to any such third party payment provider, (iii) acknowledge and authorize Titus and its third - party payment processors to charge all Fees to your chosen payment method, and (iv) authorize Titus to send a payoff request and/or letter to the applicable title officer, closing attorney and/or escrow officer in the event of your failure pay any Fees.
(c) Late Payments. If you fail to pay any past due invoice, Titus may revoke or suspend the Services until such time as you bring your account completely current. Titus may charge interest on all past due invoices at a rate of 1.5% per month or the highest rate allowed by applicable law, whichever is lower.
(d) Taxes. All Fees exclude any and all taxes and similar fees now in force, enacted or imposed in the future on the transaction, delivery of the Services, including any sales, use or value added taxes, goods and services tax, consumption tax, customs duties or similar charges, but excluding withholding taxes and taxes solely based on Titus’ net income, and you shall be responsible for payment of all such taxes, duties and charges, and any related penalties and interest arising from the payment of such amounts.
4. THE TOS TERMS AND CONDITIONS
For the avoidance of doubt, all of the terms and conditions of the TOU are incorporated herein by reference, including without limitation, terms related to indemnification, arbitration, limitations of liability, notice, representations and warranties, assignment, governing law, and restrictions on use of the Services. Upon the termination of this Agreement pursuant to the TOU, in addition to any other terms and conditions in the TOU, you must immediately cease your use of the Services as a Partner Agent, including without limitation, ceasing to market and promote the Services.