This webpage provides the rules of the Dome Contest, which is part of the marketing for the Eye of the Storm house. To enter the Contest itself, go to the @Pareto.Group Instagram post of May 31, 2018 announcing the contest, and make a comment to that post tagging the person you think will or should buy the iconic Eye of the Storm home and follow the rules below.
THE DOME CONTEST ON INSTAGRAM / BROKER REFERRAL FEE
The Dome Contest on Instagram (the “Contest”) is an experiment in real estate marketing in which Pareto Real Estate, a Charleston-based real estate brokerage (the “Sponsor”), seeks to reward the real estate broker who first correctly predicts, or whose affiliated real estate agent first correctly predicts, who will purchase a unique beach-front home called “Eye of the Storm” located at 2851 Marshall Blvd., Sullivan’s Island, SC (the “Property”). Non-real estate professionals are welcome to make predictions, but unfortunately under the law cannot win the Award (defined below).
TERMS OF THE CONTEST
Each of the provisions set forth here is a material term, rule, or condition (“Term”) of the Contest, and all Terms must be satisfied to earn the Award. To participate in the Contest, you must register for it at the bottom of this page on or before the Claim Date (as defined below), and by registering, agree to all the of the Terms.
Thank you for participating, and bonne chance!
Michael Royal
Broker-in-Charge
Pareto Real Estate
Charleston, SC
(843) 202-0604
michael@pareto.gr
THE DOME CONTEST ON INSTAGRAM / BROKER REFERRAL FEE
The Dome Contest on Instagram (the “Contest”) is an experiment in real estate marketing in which Pareto Real Estate, a Charleston-based real estate brokerage (the “Sponsor”), seeks to reward the real estate broker who first correctly predicts, or whose affiliated real estate agent first correctly predicts, who will purchase a unique beach-front home called “Eye of the Storm” located at 2851 Marshall Blvd., Sullivan’s Island, SC (the “Property”). Non-real estate professionals are welcome to make predictions, but unfortunately under the law cannot win the Award (defined below).
TERMS OF THE CONTEST
Each of the provisions set forth here is a material term, rule, or condition (“Term”) of the Contest, and all Terms must be satisfied to earn the Award. To participate in the Contest, you must register for it at the bottom of this page on or before the Claim Date (as defined below), and by registering, agree to all the of the Terms.
- Award. The award provided in this Contest (the “Award”) is structured as, and intended to comply with, the rules and laws governing real estate referral fees. Under the Real Estate Settlement Procedures Act (“RESPA”), a referral fee must be paid only to a real estate broker. Real estate agents / licensees who are not brokers are encouraged to participate, but acknowledge that their affiliated brokers are the persons qualified to win the Award. Any share of the Award which such broker pays to the affiliated agent is subject to the broker’s agency’s own policies. Both licensed real estate brokers and agents participating in the contest shall hereinafter be called “Participants,” and the winner of the contest shall be called the “Winning Broker.” The Award will be available to the Winning Broker, subject to all the other Terms herein, if the person who purchases the Property (the “Buyer”) does so on a date (the “Contract Settlement Date”) before September 1, 2018. The amount of the Award shall be:
- $25,000 US if the Buyer has an Instagram account that IS NOT a follower of the Participant’s Instagram account on either the Post Date or the Claim Date (both terms defined below), or
- $50,000 US if the Buyer’s Instagram account IS a follower of Participant’s Instagram account on both the Post Date and the Claim Date.
- If the Buyer does not have an Instagram account, the Contest shall have no winner.
- Legal Compliance. The Winning Broker must be a broker to whom the Sponsor clearly may pay, in connection with the sale of the Property, a referral fee in compliance with local, South Carolina, United States, and international law, and any local, state, or country law otherwise governing the Winning Broker, and in compliance with the National Association of Realtors’ Code of Ethics and Standards of Practice.
- How to Win.
- Participant’s Instagram Account. The Participant must have a public Instagram account (and must participate in the Contest with only one account) that follows the @Pareto.Group Instagram account.
- Instagram Comment. To win the Contest, the Participant must be the first person to post a comment to the @Pareto.Group May 31, 2018 Instagram Contest announcement posting which correctly predicts who the Property Buyer will be by tagging the Buyer’s Instagram “@” handle. The prediction need not be a person whom the Participant knows personally. The Participant may make up to but not over 100 predictions. The date of the winning Instagram comment, as described above, shall be called the “Post Date.”
- Claim Date. The Participant must claim the Award by the “Claim Date” which shall be at least seven days prior to the Contract Settlement Date. The latest possible date for the Claim Date shall be August 25, 2018. The claim must be via email to michael@pareto.gr, stating the name, address, phone number, and email address of (a) the Participant, (b) his or her affiliated brokerage agency, and (c) the broker-in-charge of such agency. The claim must also provide the Participant’s and his or her affiliated broker’s real estate license numbers.
- Broker Referral Agreement. At least seven days prior to the Contract Settlement Date, the Winning Broker must complete and sign Sponsor’s standard broker referral agreement (the “Broker Referral Agreement”) conforming to South Carolina law, in which the Winning Broker must affirm that unless he or she has a signed brokerage agreement to represent the Buyer, the Winning Broker will not have engaged in sales activities with the Buyer in relation to the sale of the Property and will not be entitled to consideration other than the Award described herein. Note that although the Award is structured as a referral fee, it is likely that a third-party broker not affiliated with either Sponsor or Winning Broker shall represent the Buyer (and earn a cooperating broker commission payment separate from this Award).
- Verification. When the Property is put under contract, the Sponsor will seek to discover whether the Buyer has an Instagram handle which has been referenced pursuant to this Contest. At least seven days prior to the Contract Settlement Date, the Buyer must verify in writing to the Sponsor and provide evidence that the Participant named the Buyer’s Instagram handle in an Instagram post conforming to these Rules and Conditions, and Participant must provide evidence of ownership of the referring Instagram account.
- Representations. The Participant is not authorized by the Sponsor to, and must not, make any representation on behalf the Sponsor, the owner of the Property, the buyer, Instagram, or their agents or affiliates.
- Disclaimer and Waiver & Release. This Contest is an untested idea and is contingent upon the Sponsor receiving commission to pass on to the Winning Broker. The Sponsor is not certain that the Contest will proceed as expected. To protect the Sponsor from unintended consequences and unforeseen problems of creating the contest, the Participant, by participating in the Contest, agrees without limitation that Sponsor’s awarding of the Award to the Winning Broker is in the absolute discretion of the Sponsor, and the Participant waives and releases Sponsor from any claim to the Award unless and until the Sponsor has actually paid the Award to the Participant. The Participant also waives any and all other claims against persons in connection with this Contest, including the owner of the Property, the Buyer, the Sponsor, Instagram, and all of the agents and affiliates of the above-named persons.
- Change in Terms. Participant agrees that the Sponsor reserves the right to change any part of this Contest with or without notice to the Participant.
- Dispute. Any dispute shall be resolved through arbitration in Charleston County, South Carolina, and South Carolina law shall govern.
Thank you for participating, and bonne chance!
Michael Royal
Broker-in-Charge
Pareto Real Estate
Charleston, SC
(843) 202-0604
michael@pareto.gr