Estate Agent Terms Of Service

AGENCY/LICENSE AGREEMENT

BETWEEN

RES SA HOLDINGS (PTY) LTD T/A Real Estate Services

Reg No 2019/021454/07 (registered with the PPRA)

1. It is hereby recorded that the parties are entering into an agreement as outlined below.

2. There are no area restrictions for listings of sales and rentals.

3. Utilising economies of scale to the benefit of agents, thereby increasing take-home income and reducing running costs for marketing, branding, photography, administration and portal feeds, including Property 24.

4. It is acknowledged that people do not do business with brands, people do business with people they like and trust.

5. Real Estate Services provides Premium Real Estate Services to Estate Agents.

6. Keep Your Brand or Create Your Brand or Use our brand.

7. Digital Lead Generation options are available from external suppliers.

❏ 100% Commission Package

❏ 95% Commission Package

❏ 90% Commission Package

❏ 85% Commission Package

❏ ___% Commission Package

**R 4752pm, once-off license fee R70 000 + Startup Pack Set

**R 2376pm, once-off license fee R50 000 + Startup Pack Set

**R 1129pm, once-off license fee R40 000 + Startup Pack Set

**R 594pm, once-off license fee R30 000 + Startup Pack Set

** No monthly Costs or License Fee + Startup Pack Set

*Split is determined By Experience & Track Record Via A Consultation Meeting

8. There are no royalties on sales and rental commissions.

9. Load your own listings yourself or use our Full Virtual Assistant Support for loading of sales and rental listings at R30 (Thirty Rand) per listing. Send price, listing heading, listing description, 20 images, levies, rates, address, owner name/s and ID, etc. to listings@realestateservices.co.za

10. Support for administration, deal tracking, locally in South Africa.

11. All items marked ** are subject to annual inflation increases or CPI. No increase will take place without prior consultation and agreement of the parties, excluding VAT.

12. Mentoring and training by Giovanni Gaggia and recognized industry professionals.

13. Deal closing assistance, site meetings, negotiations as well as personal access to Giovanni Gaggia as required for one on one meetings or telephonic consultation.

14. Please see startup pack items pricing in the table below from our suppliers. It is agreed that all proof and artwork is to be approved by Real Estate Services before being used.

15. This agreement is strictly confidential and only intended for the parties involved. Any disclosure to outside parties will result in penalty payment of R50,000 (Fifty thousand Rand) being due and payable with immediate effect.

16. It is recorded that the Agent is an independent contractor, not employed by Real Estate Services. Consequently, the Agent is responsible for the registration and possible taxations due to SARS (South African Revenue Service). Real Estate Services accepts no responsibility for payment of any taxation or PAYE to SARS on behalf of the Agent, this is solely the agent’s responsibility. It is advised that the Agent consults with an accountant or tax practitioner in this regard.

17. All Sales are to be sent to deals@realestateservices.co.za for processing. We endeavor to instruct the conveyancing attorneys on all sales to pay the Agent out directly on registration

18. All Rentals are to be sent to rentals@realestateservices.co.za for processing.

19. Commission bridging/advances can be arranged, if required once all sales suspensive conditions have been met.

21. The cost of FFC and renewal thereof will be for the Agents account. The usual cost thereof is R529.80 and it is payable to the Estate Agents Affairs Board.

22. Agents on commission package deals where a monthly fee is due will be invoiced and will have 7 days to settle their invoice.

Real Estate Services will allow an automatic extension of a 7 day grace period for payment to be provided. Should payment not be received within this total 14 day period, then that agents commission package deal will be changed to an 80% benefit, down from the commission package deal they initially selected.

23. On the 100% Commission Package, the monthly fee covers up to 5 agents. Should 5 agents be exceeded, the charge will then be R4752month plus **R9.18 per Property24 lead. For all other packages there are no additional costs for agents, adding over 5 agents.

24. Startup pack items are totally voluntary and are for your own account. You can use any supplier.

25. This constitutes the entire agreement. Any amendments or alterations of this agreements are to be placed inwriting as an addendum hereto, agreed to and signed by all parties.

26. The agent agrees that they will always follow the PPRA Code of Conduct and work with the highest level of honesty and integrity. Should the agent conduct: any fraudulent activity, or gross misconduct and/or conducting private deals without the knowledge of Real Estate Services and/or changing the official company details and/or bank information, then this agreement will be rendered null and void and terminated with immediate effect. The agent will no longer have access to any of our systems or portals, including their Real Estate Services email address. The agent will forfeit all rental and sales revenue in the business pipeline and lastly the agent may be prosecuted to the fullest extent of the law, the agent will be reported to the PPRA to have their FFC revoked.