Company Policy

Contents

Definition of Listing Agent & Selling Agent

  1. The Listing Agent is the salesperson who has a name on the agency agreement.
  2. The Selling Agent is the agent who took the prospective buyer into the property (First time).

AML Policy

  1. AML documents need to provide before putting the property on the market.
  2. AML documents do not require for commercial lease when putting the property on the market. However, it needs to be provided when there is an offer.

OIA Policy

Overseas buyers can not present an unconditional offer before OIA consent is approved.  OIA consent is not applicable on commercial property sale/lease.

Lodge property on the market

Before lodging property on H1, the below documents are required:

  1. AML
  2. Marketing Appraisal
  3. Agency Agreement
  4. Marketing Budget Form
  5. Marketing Schedule
  6. Form 18 (if Stratum Title situation)
  7. Draft Sales and Purchase Agreement(if Auction)

Marketing Order Material for Residential Sale

Please collect the below information or document when ordering marketing material:

  1. Marketing Title (5~ 8 words)
  2. Flyer Slogan (10~15 words)
  3. Signboard wording (20~30 words or key points less than 4)
  4. Website Content (Approximately 50 ~ 200 words)
  5. Open Home Date and time (no more than 3 months)
  6. Marketing Method
  7. Price Range for the website
  8. The date on which the property is on the market
    The auction date & Auctioneer (if Auction)
  9. Photo (no more than 20)
  10. Signboard location (specific location if required)
  11. Floor plan  (If New Build)
  12. Marketing Schedule
  13. Marketing Budget form
  14. Marketing payment proof from the vendor/agent
  15. Title order
  16. LIM report 

Register your purchaser to other property from Harcourts offices

  1. Register your buyer on property listing in the H1 system.
  2. Contact (Email or Phone Call) with Listing Agent.

Register your purchaser to other property from other Real Estate firms

  1. Contact the Listing Agent
  2. Confirm commission structure
  3. Conjunction Form signed by both office managers

Multi-offer Situation

  1. All offers presented to vendors between 24 hours
  2. Contact all interested parties who register on H1 and other agents who inform you before.
  3. Inform your manager via email / wechat
  4. Multi-offer Clause needs to be inserted in the SP agreement  or form needed to be signed by the purchaser.
  5. Confirm with the deadline with Vendor when the multi-offer will present to the Vendor

Transaction Report

  1. The listing agent is responsible for providing the transaction report to the admin within 10 workings from the date of the agreement.
  2. All listing agents and selling agents need to sign the transaction form.
  3. All relative documents but not limited to the agency agreement, form 2, multi-offer form, conjunction form, and OIA form need to be attached to the transaction report.
  4. Please make sure all information is filled into the transaction report correctly. The office has the right to hold or keep the commission if there is any false information in the transaction report.

Auction Procedure

  1. Book your auction room on Wednesday afternoon between 4:00 pm – 7:00 pm
  2. Book your auctioneer via office admin. ( We need to have the booking confirmation email from the auctioneer)
  3. Draft Auction SP Agreement needs to be reviewed by the Vendor’s solicitor before putting the property on the market.
  4. All documents such as SP Agreement, Title, LIM Report, Property File, Form 18, Chattel List, IEP Report, and Tenancy Schedule need to be ready before putting the property on the market.

Company Schedule

  •  Weekly Sales Meeting: Tuesday, from 10:00 am – 11:00 am
  • Auction Day: Wednesday afternoon from 4:00 pm

Franchise Fee

The Harcourts Head office will charge an 8 % franchise fee on top of commission according to Harcourts Policy.

Company Referral Fee

The Company will charge 10 % referral fee on top commission as company referral fee if the listing is refer from the Harcourts Golden Link.

Buyer’s Agent Delivery Information Policy

Do not give any suggestions or legal advice or deliver any message from the buyer to the vendor or vendor’s solicitor after the Sales and Purchaser Agreement has been accepted. If there are any questions, the buyer’s agent shall notify the buyer to speak with his/her solicitor. However, all communication should be handled by both parties’ solicitors.

Record Keeping Policy

All agents must record the daily work of their agent daily basis (paper or electronic), the company will use it as a reference if there has been any legal action against the agent. However, if the agent fails to comply with this regulation and causes damage to the company, the agent shall be fully liable for compensation.

Commission Variation

  • Any Marketing Rebate Or Discount Via Waiving The Admin Fee Needs To Get Approval From The Company.
  • If The Commission Is Below 2.5% Plus GST Of The Purchase Price Needs To Get Approval From The Company.
  • Any Commission Variation Without The Manager’s Approval, The Difference In The Cost Will Subsidy From The Salesperson.

Salesperson Responsibility – Agency Agreement

  1. After the Vendor signs the agency Agreement, the salesperson shall sign the agency Agreement “on behalf of the agent”.
  2. If there is any modification or adjustment to the agency Agreement, both parties shall sign the initial beside the agreement.
  3. If there is any change in commission calculation, administration fee or market rebate. The salesperson needs written approval from the manager before entering into an agency agreement with the Vendor.
  4. Once the agency agreement has been completed and signed by both parties and a copy of the agency agreement needs to be emailed to the vendor and copied to the office administrator immediately.
  5. If you meet face-to-face with the vendor, you will need to ask the vendor to sign the “REA Guide Book” and the “Anti-Money Laundering Authorisation Form” with the agency agreement. However, a copy of the “REA Guide Book” and the “Anti-Money Laundering Authorisation Form” will need to be emailed to the vendor along with the agency agreement.

Commission Structure

Auckland Policy – Residential Sales

Listing Office Selling Office
Auction/Tender
65%
35%
Exclusive
55%
45%
General
20%
80%
Development / Multi Unit
50%
50%

Auckland Policy – Commercial Sales & Leasing

Each referral is either a buyer referral (buyer) or a vendor referral (listing). Under the new structure, a 20% referral will be payable on the income received by the office that relates to the relevant portion of the sale. For example: 20% of the listing commission is split, or 20% of the selling commission is split.

Alternative commission splits are agreed by prior mutual agreement in writing. Accepted by both parties.

Residential For Sale

Listing Office Selling Office
Auction/Tender
65%
35%
Exclusive
55%
45%
General
20%
80%
Project (Sole Agency)
55%
45%
Project (General Agency)
20%
80%

Commercial For Lease / For Sale

Listing Agent Selling Agent
Lease (Sole Agency)
55%
45%
Lease (General Agency)
50%
50%
Sale (Sole Agency )
55%
45%
Sale (General Agency)
20%
80%
Project
50%
50%

Reserve To Public (RTP)- Property Sale

Selling Agent Team Leader RTP Leader Office
Within Office
51%
6%
3%
40%
Conjunction Sale
10%
10%
80%

Reserve To Public (RTP)- Section Sale

Selling Agent Team Leader RTP Leader Office
Within Office
60%
40%
Conjunction Sale
10%
10%
80%

Capstone Mortgage Services Referral Fee

Settlement Loan Amount of New Purchase Referral Fee – Residential properties only (gift card or fuel card)
Below $500,000
$300
Between $500,000 to $1,000,000
$500
Between $1,000,000 to $1,500,000
$700
Above $1,500,000
$1000
* Bonus will be given to top referral agent at end of the year, such as flight ticket.
  • 981 Dominion Road, Mt Roskill, Auckland
  • Monday - Friday 9:00 - 5:30pm
  • 09 558 6868
  • info.threekings@harcourts.co.nz
  • PO Box 56032, Dominion Road, Auckland 1446
  • Golen Links Real Estate Ltd
  • Golen Links Property Management Ltd
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Licensed Under REAA 2008