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Agent service fee Policy and Procedures

(Updated on August 9, 2016)

The following policy and procedure is applicable for both sides which are buyers/tenants and landlords/owners (Based on the Ethiopian rules and regulations) and will be effective when a deal is made (lease or sell contract is signed) between the two parties.

Our company agent service fee will be:


1. For Rental / lease of Residential or Commercial properties:
    please contact us at This email address is being protected from spambots. You need JavaScript enabled to view it. to determine the commsion, we will make sure to serve and offer you the best rates.


2. For Sale of Residential or Commercial properties:
    The fee is 2% of the total sale amount (According to the Ethiopian rules and regulations)
     = ( ( Total sale price ) X (0.02) )


Note:

I. The service fee is non-refundable
II. If the contract is cancelled by any reason before half of the lease duration then we will deliver our service to both parties for 50% discount of our service fee
III. The service fee doesn’t include 15% VAT (Value Added Tax)
IV. The service fee payment will be made on the signing of the sale/lease agreement
V. The service fee is a onetime payment.

 

General rules:

1. Tenant/Buyer

• This policy and procedure will apply only if the property is shown, visited or made access with us.
• Our service might or might not include negotiating and arranging agreements, and that depends on the will of our clients’.
• One cannot refer the properties shown to him/her to a third party tenant/buyer/agent without our knowledge, but if she/he did, then he/she will be subjected to pay our service fee and we will take both parties to be held responsible for legal fees arise.
• If someone is found to buy or rent a property, that we arrange a visit too, without paying our service fee, then our company will request double of the payment stated above through the legal way.
• If the payment is late for more than 15 days of the lease or sale agreement then the client will be requested to pay 10% in addition for each weeks passing after that.
• After our visit one can contact the owner/landlord/seller without our involvement, and can negotiate and make a deal but our service fee rate will be the same, and we need to be updated accordingly.
• Our company will not be responsible if a client pays to another agent or broker for any property we have shown, made access too, but we will request our rights to get our payment.
• We do not ask any service fee for properties which the client has seen with another broker or agent, but we need to be informed before making the visit.

2. Landlord/Owner/Seller
 
• This policy and procedure will apply only if the property is shown, visited or made access with us.
• Our service might or might not include negotiating and arranging agreements, and it depends on the will of our clients’.
• One cannot refer our client which we have introduced to him/her to a third party owner/landlord/seller/agent without our knowledge, but if she/he did, then he/she will be subjected to pay our service fee and we will take both parties to be held responsible for legal fees arise.
• If someone is found to lease or sell his/her property, that we arrange a visit to our client too, without paying our service fee, then our company will request double of the payment stated above through the legal way.
• If our service fee is late for more than 15 days of the lease or sale agreement signed, then the landlord/owner/seller will be requested to pay 10% in addition for each weeks passing after that.
• After our visit one can contact the tenant/buyer without our involvement, and make a deal but our service fee rate will be the same, and we need to be updated accordingly.
• Owners/Landlords/Seller should immediately notify us for any price/rate change, change of mind, or when the property is taken.
• Our company will not be responsible if a landlord/owner/seller pays to another agent or broker for any property we have shown, made access too, but we will request our rights to get our payment.
• We do not ask any service fee for a client who has visited your property with another broker or agent, but we need to be informed when making the visit.

 

 

 

Lease Contract /Agreement Addis ababa:
This link is to download lease contract / agreement template  for renting apartment,house or office  in Addis Ababa Ethiopia, you can download /modify it as needed :

Who can legally buy property in Ethiopia?
1. Has Ethiopian citizenship.
2. Foreign nationals of Ethiopian origin.
3. If a foreigner is an investor he/she can buy property in the name of the company. All investors have rights to residency under the law and therefore can buy and lease property. Property may also be granted by the government depending on the business' needs. However in order to become an investor they must show capital of at least $100,000US with a bank statement.

Notice: Our company operates exclusively under the name of Mr. Masresha Fisseha and through the RealEthio.com website. We are not responsible for work done through other websites or through other agents.

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Damac Properties investment Agent Addis Ababa Ethiopia
masre we will be more than happy to assist you in finding your next home, office or land,we provide free transportation to view properties and only take commission once the deal is done
CEO Masresha Fisseha
Real Ethio - real estate Addis Ababa Ethiopia
Address: Bole, Namibia Street, Sheger building, Office 701, Addis Ababa,Addis Ababa,Ethiopia
E-mail: info@realethio.com
Phone: +251911619180 Our Location on Map
Copyright Real Ethio 2013
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