6.1 Referral fee from Agents. If you appoint an
Agent we introduced and your property settles, the Agent pays
Vendo a referral fee, typically a percentage of the Agent’s
commission plus GST. This allows us to offer our service to
Sellers at no charge. Because our referral fee is typically
calculated as a percentage of the Agent’s commission, we may
have a financial interest in introducing you to Agents and in
your property selling successfully.
6.2 Cashback to Sellers. Where stated on the
Platform or in writing, Vendo may pay you a Cashback funded from
the referral fee we receive. Cashback actual amount is
determined by the terms of the applicable sale agreement and
eligibility at settlement. Cashback is not payable if the
property does not settle, if the Agent was not introduced by
Vendo, or if any eligibility condition is not met.
6.3 Eligibility conditions. To be eligible for
Cashback you must, at a minimum:
-
engage and sell through an Agent we introduced to you via the
Platform;
-
disclose any pre-existing agent relationships prior to
introduction;
- ensure your sale completes and settles;
-
provide your bank details for payment within the timeframe we
specify; and
-
comply with any other conditions notified by us in writing.
6.4 Disclosure and legal compliance. Nothing in
these Terms permits secret commissions or undisclosed rebates.
To the extent required by applicable state or territory laws,
the Agent must disclose to you in writing any rebate, discount
or commission they will or may receive or pay.
6.5 Verification and access to documents. You
consent to the appointed Agent providing Vendo with copies of
the authority to sell, agency agreement, sale contract and
settlement statement to verify the referral fee and any Cashback
payable. We use these documents solely for verification, billing
and compliance.
6.6 No assignment. Cashback is personal to you
as the named Seller and is not transferable, assignable or
redeemable for other benefits. We may set off any amounts you
owe us against the Cashback.
6.7 Taxes. You are responsible for any taxes
that may apply to Cashback.