Local Experts referral terms

These terms apply between Ordus Property ("Ordus", "we") and a buyer's agent who asks to be listed on an Ordus Local Experts page ("the agent", "you").

1. The listing

Ordus lists the agent on its Local Experts pages for the suburbs the two of us agree on. A suburb carries up to four agents. First in holds position 1 for the first 90 days, and the agents who follow are listed under it in the order they joined.

There is no listing fee. Ordus may decline a listing, and may check that the agent holds a current licence.

2. Referred buyer

A referred buyer is a person who contacts the agent through an enquiry sent from an Ordus page. The buyer chooses which agent to contact.

Ordus emails the agent each enquiry and keeps a record of it, including the date, the suburb and the buyer's details as submitted. That record is what a fee is later worked out from.

3. Success fee

The success fee is 10 per cent of the agent's gross fee, excluding GST, on any purchase the agent completes for a referred buyer.

It applies where contracts are exchanged within 12 months of the enquiry. It applies once per purchase, whatever property the buyer ends up buying and whoever at the agent's firm acts on it.

4. Reporting and payment

The agent tells Ordus within 14 days of exchange that a referred buyer has bought, and gives the gross fee the agent charged. Ordus then invoices the agent.

The invoice is payable within 14 days of settlement. Ordus may contact referred buyers directly to confirm what happened.

5. Disclosure

The agent is responsible for disclosing the referral fee to their client. The Property and Stock Agents Act 2002 (NSW) sets out what has to be disclosed and when.

Ordus does not give the agent's client advice about the agent, and does not hold the agent's client money.

6. Non-payment

An agent who does not report a purchase, or does not pay a fee that is due, is removed from every position they hold on the page.

The fee remains payable after removal.

7. Ending the listing

Either side can end the listing at any time by email to the other. The listing comes down and the position is freed.

The success fee still applies to enquiries the agent received before the listing ended, on the same terms as section 3.

8. Contact

Questions about these terms: [email protected].

These terms are governed by the laws of New South Wales, Australia.