Agent Referral Policy

Agent Referral Policy

 
  1. Eligibility for Referral Fee: To qualify for a referral fee, the referring agent must provide a lead that results in a successful conversion of the referred property into a signed management contract with Top Host Property Management (hereinafter referred to as “the Company”). The referring agent shall be entitled to a referral fee based on the value of the property as outlined in this policy.

  2. Successful Conversion: A referral is deemed successful only when:
    • The referred property is formally contracted with the Company through a signed agreement.
    • The Company begins deriving income from the referred property under the management contract.

  3. Referral Fee Calculation: The referral fee shall be calculated in accordance with value of the property on a tiered basis. The specific referral fee will be determined based on the property’s value and the terms agreed upon in the referral agreement.

  4. Conditions for Payment:
    • Payment of the referral fee shall only occur after the Company has received and processed income from the referred property. The Company reserves the right to withhold payment until it has verified receipt of income from the referred unit.
    • The referral fee will be paid to the referring agent within a reasonable time frame following the receipt of income from the referred property, subject to any adjustments for deductions or offsets as determined by the Company.

  5. Exclusivity of Referral:
    • The referring agent must ensure that the lead provided is exclusive and has not been previously submitted by any other agent or party.
    • The Company retains the right to verify the exclusivity of the lead and the referral agent’s entitlement to the fee.

  6. No Payment Without Conversion:
    • The referring agent acknowledges and agrees that no referral fee shall be payable unless and until the referred property is successfully contracted and income is derived by the Company as specified in this policy.
    • The Company shall not be liable for any payment if the referred property fails to secure a management contract or if the income derived from the property is insufficient or delayed.

  7. Referral Agreement:
    • A written referral agreement must be executed by the referring agent and the Company, detailing the terms and conditions of the referral fee, including the calculation method, payment schedule, and any other relevant terms.
    • The Company reserves the right to amend or terminate the referral agreement at its discretion, provided that such amendments or terminations are communicated in writing to the referring agent.

  8. Dispute Resolution:
    • Any disputes arising under this policy or the referral agreement shall be resolved through good faith negotiations between the referring agent and the Company.
    • In the event that a resolution cannot be reached, disputes shall be subject to arbitration in accordance with the laws and regulations of the relevant jurisdiction.

  9. General Provisions:
    • The referring agent agrees to indemnify and hold harmless the Company from any claims, liabilities, or losses arising out of or related to the referral process, including but not limited to claims related to the validity or exclusivity of the lead.
    • The Company’s decision regarding the payment of referral fees and the interpretation of this policy shall be final and binding.

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Green Point, Cape Town, Western Cape, South Africa.
Email: info@tophostprop.co.za

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