Page 49 - belize

next steps - term sheet
TEAM
• President and Staff (Stage 1): Assign Team Leader and Manager, along with specific applicable Strategic Partners to evaluate the situation: implement processes; and conduct sales & marketing summit; objective is a resulting Critical Path and Budget.
• Team Leader: Legacy will assign a Sales Leader to work in association with the project’s sales center(s); responsible for training, project definition and story refinement, and coordination of the marketing strategy.
• Sales Executives: Legacy will assign Sales Executives to work from the project’s sales center in market and strategically in Target Markets (support dependent on absorption requirements and absorption strategy).
• Administration: Legacy will assign a Customer Operations Manager to handle receptionist duties, database oversight, and contract coordination.
• Regional Team: This Team is composed of one or more senior sales executives responsible for taking brokers from the Legacy extensive brokerage and cross-resort network – and/or prospects - to visit the project.
FEES
• Developer shall pay a one time, Stage 1 fee of $____ to Legacy for the project evaluation and initiation (not
to exceed 120 days), $_____ per month thereafter for continued refinement and oversight; $____ per month for Team Leader salary, $____ per month for Customer Operations Manager (if applicable); and $_____ per month for Marketing Operations Coordinator (if applicable).
• Developer pays Legacy ____% fee per any bulk sale of retail inventory.
• Legacy will receive a ____% commission for every developer retail sale made of “Inventory Units” for no less than 2 years (the specific ‘market rate’ commission amounts per product line for Sales Executives to be delineated in a Schedule prior to conclusion of Stage 1).
• Cooperating brokers will receive a TBD ‘market rate’ commission percentage, payable directly by developer.
• Developer shall advance ‘draws against future commissions’ of $____ per month for the sales leader, and up to $____ per month for sales executive(s).
• Upon submission of receipts, Developer agrees to reimburse Legacy, and sales team personnel assigned, for travel and expenses incurred on behalf of Developer, which have been pre-approved in writing for any site visits, personnel interviews, prospect meetings, property tours, critical path and budget preparation, as well as other marketing expenses.
MARKETING PLAN (AVERAGE ____ - ____% OF PROJECT SELLOUT)
• Developer shall provide and maintain sales center(s) for the project; and resource all necessary collateral, web, media, and PR initiatives.
• Legacy International will assign and/or manage a Marketing Operations Coordinator to liaise with Sales Team, Marketing vendors, and Development Management.
_________/___________ (Developer Initials/Date)
34
RESORT RESORT
• LUXURY RESIDENTIAL • • LUXURY RESIDENTIAL •
ACTIVE ADULT • METROPOLITAN ACTIVE ADULT • METROPOLITAN