(i.e. where ERA is the Vendor’s Agent)
Basic Sales Commission (“BSC”):
Minimum TWO percent (2%) or up to a maximum of FIVE percent (5%) of the listed and/or target price as agreed between the Vendor and ERA.
The BSC is subjected to Goods and Service Tax (GST) at the prevailing rate.
Example:
Incentive Commission:
The difference between the contracted price and the listed and/or target price is deemed as the “bonus sum”. This “bonus sum” shall be divided equally between the Vendor and ERA. ERA’s share of the “bonus sum” is inclusive of GST at the prevailing rate.
Example:
Share of Option Money or Deposits Forfeited by the Vendor:
Should any Option Money or Deposit paid by the Purchaser be forfeited by the Vendor, then one half (1/2) of the forfeited sum shall be paid to ERA, provided such amount does not exceed the BSC.
Such sum paid to ERA shall in inclusive of GST at the prevailing rate.
Example:
Reimbursement of Marketing Costs on Termination of Exclusive Estate Agency Agreement during the Validity period:
In the event the Vendor terminates the Exclusive Estate Agency Agreement during the Validity period (defined as the period from the Commencement Date to the Expiry Date of the said agreement), the
Vendor shall pay a fixed sum of $3,000/- to ERA as reimbursement of marketing costs.
(where ERA is the Purchaser’s Agent)
Basic Sales Commission (“BSC”):
Minimum ONE percent (1%) or up to a maximum of THREE percent (3%) of the contracted price.
The BSC is subjected to GST at the prevailing rate.
Example:
Reimbursement of Marketing Costs on Termination of Exclusive Estate Agency Agreement during the Validity period:
In the event the Vendor terminates the Exclusive Estate Agency Agreement during the Validity period (defined as the period from the Commencement Date to the Expiry Date of the said agreement), the Vendor shall pay a fixed sum of $3,000/- to ERA as reimbursement of marketing costs.
In accordance with guidelines issued by the Council for Estate Agencies (“CEA”), all Commissions payable to ERA SHALL be made UPON the COMPLETION of the sale and purchase transaction.
Party | Type | Duration of Lease | Amounts Payable to ERA (subjected to GST at the prevailing rate) |
---|---|---|---|
Landlord (where ERA is the Landlord’s Agent) | Room | >12 months to 24 month | $600/- OR ONE (1) month’s gross rent; whichever is HIGHER |
Every ADDITIONAL 12 months OR less | ADDITIONAL $300/- OR HALF(1/2) month’s gross rent, whichever is HIGHER | ||
12 months OR less | $300/- OR HALF (1/2) month’s gross rent, whichever is HIGHER | ||
Renewal of Lease: Every 12 months OR less | $300/- OR HALF (1/2) month’s gross rent, whichever is HIGHER | ||
Whole Unit | >12 months to 24 months | $1,500/- OR ONE (1) month’s gross rent; whichever is HIGHER | |
Every ADDITIONAL 12 months OR less | ADDITIONAL $1,000/- OR HALF (1/2) month’s gross rent, whichever is HIGHER | ||
12 months OR less | $1,000/- OR HALF (1/2) month’s gross rent, whichever is HIGHER | ||
Renewal of Lease: Every 12 months OR less | $1,000/- OR HALF (1/2) month’s gross rent, whichever is HIGHER |
Party | Type | Duration of Lease | Amounts Payable to ERA (subjected to GST at the prevailing rate) |
---|---|---|---|
Tenant (where ERA is the Tenant’s Agent) | Room | >12 months to 24 month | $600/- OR ONE (1) month’s gross rent; whichever is HIGHER |
Every ADDITIONAL 12 months OR less | ADDITIONAL $300/- OR HALF (1/2) month’s gross rent, whichever is HIGHER | ||
12 months OR less | $300/- OR HALF (1/2) month’s gross rent, whichever is HIGHER | ||
Renewal of Lease: Every 12 months OR less | $300/- OR HALF (1/2) month’s gross rent, whichever is HIGHER | ||
Whole Unit | >12 months to 24 months | $1,500/- OR ONE (1) month’s gross rent; whichever is HIGHER | |
Every ADDITIONAL 12 months OR less | ADDITIONAL $1,000/- OR HALF (1/2) month’s gross rent, whichever is HIGHER | ||
12 months OR less | $1,000/- OR HALF (1/2) month’s gross rent, whichever is HIGHER | ||
Renewal of Lease: Every 12 months OR less | $1,000/- OR HALF (1/2) month’s gross rent, whichever is HIGHER |
Party | Amounts Payable to ERA (subjected to GST at the prevailing rate) |
---|---|
Assignor (where ERA is the agent for the party giving up the premises) | TEN percent (10%) of the Assignment Fee OR ONE (1) month’s gross rent; whichever is HIGHER |
Assignee (where ERA is the agent for the party taking over the premises) | TEN percent (10%) of the Assignment Fee OR ONE (1) month’s gross rent; whichever is HIGHER |
In accordance with guidelines issued by the Council for Estate Agencies (“CEA”), all Commissions payable to ERA SHALL be made UPON the EXECUTION of the ASSIGNMENT AGREEMENT by the Assignor and Assignee AND the HANDOVER of PREMISES to the Assignee.
ANY co-brokerage fee (internal OR external) SHALL be mutually agreed upfront.
Salespersons SHALL read the contents of ALL co-broke agreements (internal OR external) carefully BEFORE signing.
ANY Commissions or Fees collected from Customers by Salespersons SHALL be submitted to the Company within 3 working days.
Commission SHALL be made payable to ERA Realty Network Pte Ltd via cheque or in one of the following modes:
Fund Transfer | Corporate PayNow |
---|---|
| Step 1: Log into your Online/ Mobile Banking
(Participating banks: Citibank, DBS Bank/POSB,
HSBC, Maybank, OCBC Bank, Standard Chartered
Bank, UOB, Bank of China and ICBC) Step 2: Go to Transfer Funds – PayNow Step 3: Simply enter:
|
*Please email [email protected] the “proof of payment and property address/invoice no.” once payment is made.
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If you have questions or comments,please contact
6226 2000 during office hour for assistance.