The agent may not challenge the Principal on any rulings regarding the payment of...
commission
An Explanation of the “Effective Cause” Commissions Due in Terms of a Contract Property practitioners need to know precisely what they have to do to secure their commission in a sale, as disputes often arise after a sale is concluded or, commonly, where the Seller has deliberately or innocently avoided their property practitioner when finalising sales with prospective Buyers. The law at this...
Definition of a Property Practitioner A Property Practitioner is defined as someone (a person or a firm) who: Buys or sells, lets or hires, or publicly exhibits. Immovable property, or A business undertaking (commercial or industrial). Negotiates or facilitates any of the above. Canvasses or offers to canvass a seller, purchaser, landlord, or tenant. Collects monies payable on...
Remuneration No property practitioner shall: Code: 8.1 stipulate for, demand, or receive directly or indirectly any remuneration, commission, benefit or gain arising from or connected with any completed, pending, or proposed contract of sale or lease which is subject to – 8.1.1 a suspensive condition, until that condition has been fulfilled; or 8.1.2 a resolutive condition,...