Referrals
Referrals are the lifeblood of any good business. BUPE knows the importance of this area of business and wants to provide agents with certainty and clarity about how these are measured, monitored and of course, rewarded.
BUPE understands that referrals do not end when a fee is paid to the agent and our transparent process will provide agents with confidence that if the property is to be leased or sold again in the future, it will go back to the agent that referred it.
Check out below to see how BUPE referrals work.
How it WORKS
Referral fee
This is paid to the referring agent for any new property/client introduced to the company. The referral fee payable to the agent is equivalent to one month's management fee plus GST based on the 'net' annual rent. An example of how this works is.
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Net rent = $150,000
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Management fee = 7.5% + GST
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Annual commission = [(150,000 x 7.5%)/12) = $937.50 + GST
Conditions
The referral fee is paid once BUPE has received the first month's management fee. The management fee percentage may vary between referrals depending on the property, rent, scope of services and client. The minimum management term is no less than 24 months from the commencement date. If a property is managed and then subsequently sold, there is no referral payable to the selling agent if the new owner engages BUPE to continue with the management of the property. If an owner has opted out of clauses 7.1, 8.2 of the management agreement, BUPE will advise the agent at that time.
The BUPE referral commitment
For agents that refer properties to BUPE; we want to provide the following commitment to agents that refer clients to us.
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If an agent refers to the property to BUPE, it will go back to the same agent when it comes time for a lease, renewal, extension or variation, and sale.
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Each agent that refers properties will be provided with a bi-annual report providing the following.
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Properties they have referred
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The amount of referral fees paid
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Market rent reviews
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Right of renewals
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Term expiries
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Vacancies coming up
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Referral
FORM
Agents who complete the form to referral a new owner and property BUPE have sort permission from the client to pass their details onto BUPE. Referrals will be treated as confidential information.