“Including a single word or phrase in the agreement can be the difference between a reliable, ongoing revenue stream for the agent and a revenue stream that can be terminated at will by the administrator,” said Marcus, who is a partner with Bartle in the Kansas City, Mo., firm Bartle and Marcus LLC.
“Too often, agents enter into agreements with administrators just figuring things will work out and pay little if any attention to provisions that may dramatically impact their livelihood if things don’t work out,” added Bartle, noting that, although agents are the most skilled negotiators he and Marcus come across in their practice, “Time and time again, we see situations where they failed to bargain for reasonable contract terms that would have saved them, in some cases, millions of dollars.”
“Key Provisions of Agent Agreements” will begin at 9:00 a.m. on Monday, May 21. Bartle and Marcus are expected to address provisions all agency agreements should include, including those intended to protect the agent’s interest for the long term. They will be followed at 10:00 a.m. by the event’s second agent principals-only session, “Preparing to Exit,” featuring attorney James Duggan.
“We are honored to welcome Matt and David back to Agent Summit, and we thank our advisory board for including this incredibly valuable session on the agenda,” said David Gesualdo, show chair and publisher of Agent Entrepreneur and F&I and Showroom magazines. “If the agency-building component drew you to our event, you cannot miss this session.”
More information about Agent Summit 2018, including a preliminary agenda, is available at the event’s website. Click here to register today. To discuss sponsorship and exhibition opportunities, contact David Gesualdo at 727-947-4027 or via email.