B 5)  20% - Showing the Property for Sale or To Let, sitting at a Show House, creating your own Leads, arranging and escorting with a viewing (20%),

B 6)  20% - Completing a Sale or Rental agreement, completing all required paperwork and related documents, liaising with Clients until transfer. Initiating and collection of Deposits and Payments where due.

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CATAGORY C (Independant Agents)

Independant Agent (IA) - whereby the agent works from home or deals in property part-time - a total of up to 60% where applicable as follows:-

C 1)  20% - Showing the Property for Sale or To Let, sitting at a Show House and generating a Lead (same as (2 b) above), or arranging and escorting with a viewing (20%),

C 2)  20% - Completing a Sale or Rental agreement, completing all required paperwork and related documents, liaising with Clients until transfer, Initiating and collection of Deposits and Payments where due.

C 3) Listing Agent (LA) - 20% - This percentage of the revenue stream shall be paid to the agent/agency that listed the property on the richlands web-site once it is sold by a Participating Partner and payable on transfer. Any Agent/cy who lists a property, shall receive any lead/enquiry from the source of that Listing to work with for a period of 14 days. The advantage is that they can also show them unlisted properties during this period. Thereafter, richlands reserves the right to pass such lead onto other participating partners, so as to ensure that richlands retains the revenue stream for its participating partners.

C 4) Lead Provider (LP) - 20% - This percentage of the revenue stream shall be paid to the agent/agency that passes a lead (Buyer/HomeSeeker) on to a participating partner should it result in such Buyer purchasing a property. This includes richlands. e.g. A Participating Party in Cape Town passes on a "lead" (buyer) to a participating partner in Durban via the richlands network. They keep themselves covered for 20% of the revenue stream.

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CATAGORY D (Estate Agencies)

Applies to any company and their staff, who operate from a commercial premisis and carrying out the duties of an Estate Agency and who holds valid certification with reference numbers (current fidelity fund certificate and CEA certification) Agents working for an Estate Agency shall share the revenue stream according to the rules and regulations as set out in their terms of employment or by the principal of the said Agency.

Estate Agencies (EA) - up to 80 % of the revenue generated from a sale as follows:

D 1) Listing Agent - should the agency or a member of its staff have Listed the property - 20%

D 2) Selling Agency - should the agency or a member of its staff have Shown and Sold the property - 40 %

D 3) Estate Agency - should they be a registered richlands Participating Partner - 20% 

D 4) Any new LEAD forwarded on to richlands by the Agency for distribution to their participating partners - 20%

Administration

D 5) Bonds or Loans - Obtaining Bond or Loan approvals and the required documents - IDs, Marriage Certificates, Salary advise, Proof of Income, Audit Report, SARS & FICA.  Applies only if and when necessary. The Agent/cy may very well carry out this task or farm it out by arrangement.

D 6) Admin Assistant - Satisfying the Conditions of Sale and necessary approvals if applicable and where required. This includes obtaining approved plans, occupation certificates, electrical compliance & rates and levy clearance certificates, entomologists certificates, SARS docs, FICA requirements, all the relevant docs if required for CC, company or Trust. The Agent/cy may carry out this task themselves or use their own staff.

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CATAGORY E (richlands.co.za)

Richlands - Richlands shall retain 20% (towards the free hosting service, uploading of infomation and photographs on the web-site) when providing property details or leads to participating partners in order to assist them in concluding a sale.

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6) SALES - Hosting Fees & Income

HOSTING (* NB - Cl 6 is not in operation as yet) :-

Hosting Fees only become due once the property is sold and then is payable on transfer. Hence the "FREE LISTING UNTIL SOLD" concept.

a) Free period -  Should the property have been sold by a non-participant or "outside party" within 30 days of being listed, and Richlands are given written notice as such from the Owner (Seller) within the prescribed time period, no hosting fees shall become payable whatsoever.

b) Fees payable when a property is SOLD - A Listed Property when sold, shall attract a payment of 0,5% based on the final purchase price (R5000 per R1M or part thereof) and calculated by the appointed conveyancer upon transfer, as payment for the hosting of the property on the richlands website. The Owner should advise any "non-participating party" or "outside party" of this arrangement when accepting any sale so as to avoid unnecessary costs. Should the property be sold by Richlands or one of its "Participating Parties", the payable commission on the Sale may be reduced by the said amount (of the hosting fees raised), but only by written agreement.

This hosting fee becomes effective from the 31st day of being listed, for the acceptance of any listing on the web-site, because of the possibility that a non-participant or Home Seeker (buyer) may have seen the property on the web-site and canvassed it directly, together with the incurred costs of the listing process and hosting involved.

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INCOME:-

Income is derived from the fees raised for the Rental or Sale of a Property that has been listed (see Billing for a Sale and Rental below) and then rented or sold by Richlands or a Participating Party, in accordance with the tariff as laid down by the Institute of Estate Agents of SA and governed by the Estate Agents Board (EAB). Depending on the nature of the Listing, these may be adjusted by arrangement and recorded in writing between the concerned parties.

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7) SALE - Payments to Participating Parties

All payments will be paid out on transfer of the said property to Richlands, by the appointed conveyancer. This will be in accordance with the agreement entered into with the Owner and is a condition for the hosting of the Listing. Once these payments have been received, Richlands shall in turn pay the participating party in accordance with the schedule above based on the amounts received.

*Free listing until Sold* means no upfront fees or initiation costs are payable.  Dispursements are made on transfer by the appointed Conveyancer where applicable or by Richlands, once the Sale has been completed. This assists in the cash outlay of advertising for Agents and Owners alike. No fees are raised at all should Richlands receive written advice from the Home Owner (Seller) that the listed property was Sold within 30 days of the listing being posted online. Alternatively, the hosting fee as shown below automatically becomes applicable in its entirety.

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8) Billing for a SALE (*NB Cl 8 not in operation as yet)

Should Richlands or any of its Agents or Participating Parties conclude a Sale, an invoice shall be submitted to the relevant party (Owner or Conveyancer) for payment when it falls due in accordance with the applicable Fees payable.

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The Conveyancer, under instruction from the Owner (seller), shall pay Richlands the sum of 0,5% of the final selling price (R5000 per R1Million value or part thereof) for the web "hosting" no later than the transfer date. The Owner may advise the "outside party" or "non-participating party" that may have concluded the Sale - of this arrangement (prior to concluding the sale), so as to make provision for the payment to Richlands. The onus is on the Owner to also advise Richlands in writing (or via E Mail) of the pending sale, so it can be marked as Sold and relevant details captured so that invoices can be submitted. Failure to do this shall constitute a breach of agreement and may result in a Double Claim at maximum tariff against the Owner (seller).

Should the property be sold by Richlands or one of its "Participating Parties",  the payable commission on the Sale may be reduced by the said amount (of the hosting fees raised), but only by written agreement.

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9) Billing for a Rental

(Free Listings - No hosting fees payable)

Residential:

a) Procurement - first months rental payable to Richlands for the procurement of a tenant, thereafter payments go directly to the Owner. Tenant also liaises directly with the Owner regards property matters.

b) Partly Managed - 10% of the monthly revenue collected from the tenant, payable to Richlands. Richlands pays the balance to the Owner on a monthly basis. Tenant liaises via Richlands regards property matters. In the event no written arrangement is made regards Fees, Richlands shall adopt (b) as the form of collection.

c) Full Managed - 12% of the monthly revenue collected from the tenant, payable to Richlands. Richlands will disperse payments on the owners request in order to pay Levies, Rates, or their outgoings on behalf of the Owner. Tenant liaises with Richlands regards property matters. Richlands to account to the Owner.

Lease Renewals:

As above.

Holidays:

d) Short Term Letting, Daily, Weekly or Corporate - 15% of revenue received from tenants or occupants in terms of the booking.

e) *Home Swaps - richlands administration fee payable prior to occupation by the successful parties and shall be 10% of the currently advertised daily rental x the period required for the said property. The concept is to spot a required holiday destination listed online and make the Owner a swap offer for the period required, by tendering your own property as a fair swap. Should both parties agree, then a written transaction is concluded. There may be a cash adjustment required based on the home offered versus the home received and the season, which shall be guided by the applicable daily rate cards for each dwelling. (*A new concept - still to be inplemented)

eg. Desired dwelling has a daily rental rate of R1000 pd for the chosen season and the period required is 7 nights. Therefore R1000 x 7 = R7000 X 10% = R700 due to richlands for hosting the transaction. * Where no rate is set a min fee of R500 per week shall be in force.

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10) RENTAL - Payments to Participating Parties

All payments will be paid out to Participating Parties once Richlands has received the full amount of revenue and the lease has run its course. Therefore (a) and (c) above, which are monthly managed accounts as shown in "Billing for a Rental", shall be paid monthly or once the lease obligations have been fulfilled. (b) as shown above is a procurement of a tenant and is paid from the first months rent upfront, shall be paid out upon receipt of such monies as the tenant risk is passed on to the Owner.

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11) Who should Participate?

Estate Agencies, Private Individuals, Home Seekers, Home Owners, Ex Estate agents, Retired but well connected at Bowls/Golf club. Caretakers, Managing Agents, Salesmen. All qualify. In any area throughout the country.

If its Property and its for Sale or Rent, we can List it and help expose it to millions of internet viewers around the world 24 hours a day, 7 days a week, 365 days a year.

Register with us today and become a "participating party" and submit your Listing or Lead. (By registering on the web you guarantee yourself an income stream and future payments).

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12) Information-Trail:

NB: It is important to use the web-site and E Mail facility contained therein as opposed to telephonic communication when registering your listings, leads or property queries. This creates its own information-trail which records data, dates and times thus alleviating any miss-communication and in so doing, secures your income or savings.

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13) ParticipatingAgents:

All active Participating Partners, both Agents and individuals, shall be listed here together with their own individual listings under "View Agents". This means that if they are active in an area and they are able to obtain a significant amount of properties within their own portfolio, their Listings shall generate themselves Leads which in turn shall generate additional Sales.

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14) Loan Calculator:

A simple *click* on this icon will assist clients establishing a) the instalments and affordability factor, b) the max loan obtainable based on the family income, c) assists with budgeting purposes. Features include the interest (%), period of repayment (months) and Loan amounts in SA Rand.

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15) Transfer Cost Calculator:

A simple *click* on this icon will assist clients establishing what the estimated legal fees  and transfer duty might be when purchasing a property.

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16) Currency Convertor:

A simple *click* on this icon will allow clients to convert to any foreign currency globally. This affords them the opportunity to do comparisons and pricing in their own currency. Default is set in South African Rands.

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17) Copyright to Richlands Realty

Richlands Realty reserves the right to amend or alter any of the above without notice. E & O.E.

Currency is shown in SA Rand. Use currency converter in menu for global currency.

All prices and fees Exclude VAT where-ever applicable.

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18) Registration -PARTICIPATING PARTY - Documentation 

a) Participating Party Initial Application Form

b) Participating Party Agreement

c) Owner (Seller) Listing Permission and Agreement

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19) Featured Properties

Front Page:- Receive Top Priority. Rotating hot properties. Visitors browsing the website will see these priority selected properties at random in from various catagories.

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20) Royalties, Franchise fees, Marketing & Branding

At this stage, there are no royalties, listing fees or franchise fees payable. Its open to all who wish to participate. It is anticipated that a marketing/branding fee will become applicable to CATAGORY 2,3 & 4, which shall be 7,5% of income that they receive. e.g. the Commision generated on R2M sale generates a revenue stream of R100 000 to Richlands which represents 100%. Participating partners portion is 60% which is R60 000. Therefore 7,5% of R60K is R4500 directly to marketing the Brand.

Searching for Property

         *click* 

www.richlands.co.za

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21) Canvassing the Web-site for stock.

An Independant Agent or Estate Agency may also canvass properties (stock) to sell from the richlands web-site provided that they are signed up participating partners. Further, that they will pay both Richlands and the Listing Agent their due fees.

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Collectively, Participating Partners can choose which part of the sale process that they would like to become involved in - and be rewarded accordingly. Therefore - an Independant Agent can receive up to 60% , Agencies up to 80% of the commission/income receivable on transfer and the HomeOwner (Owner Seller) can receive up to 60% of the fees back, depending on their category of participation in the Schedule of Fees. Richlands shall in any event retain a minimum of 20% of the revenue stream on sales generated as a result of participation on the web-site. To become an active participant in the above, you have to complete and submit the relevant application form to Richlands. Failure to do so may prejudice payment to you.

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