An agency agreement outlines the details, terms and conditions related to sales commission between a developer and an agency.
Only a user with a Headquarter role can create an agency agreement.
Under an agreement, you can define:
- Project
The project that the developer entrusts the agency to sell. - Agreement period
The contractual period between the developer and the agency. The agreement - Agency
The agency party that the developer entrusts to sell. - Keyword (optional)
For easy search purpose, include your own code to identify your agreement. - Appointment letter (optional)
For easy reference, upload a soft copy of your agency appointment letter. - Commission scheme
The commission structure of your sales compensation/ incentive plan.
Tiered commission - Payout PER unit within the defined range.
Fixed/ flat rate commission - Fixed payout for each unit sold. - Apply scheme to
Once a commission scheme is created, apply the scheme to either- All units
- By layout
- Unit number
- Bumiputera units
- Payment terms for Conventional loan / LPPSA
- The conditions surrounding the commission payment, agreed between developer and agency.
- These conditions only apply to a sale with a conventional loan/ LPPSA offer accepted.
- These conditions will be the trigger point for initiation of commission claim by the agency.
- Payment terms for Cash buyers
- The conditions surrounding the commission payment, agreed between developer and agency.
- These conditions only apply to a sale with cash buyer.
- These conditions will be the trigger point for initiation of commission claim by the agency.
- Buyer referral scheme (if any)
This is an incentive program for buyer who introduces other buyer(s) to the developer. Turn this setting off if it does not apply. - SST commission
Sales and Service Tax (“SST”) on property unit sold. For a MYR 100K property at a 3% commission rate:- Commission inclusive SST payout is MYR 2,830.19 + MYR169.81 = MYR3,000 (3%)
- Commission exclusive SST payout is 3% (MYR3,000) + 6% SST (MYR180) = MYR3,180
- Preview calculation
This is a calculation sample based on your settings. Enter value into the required fields to preview the commission calculation before creating the agreement. - Summary
This is a summary view of your agreement settings. Check on this tab to ensure that you have set up your agreement details, commission scheme, payment terms and other settings correctly, before creating the agreement.