Privacy Policy
Effective Date: [4/02/2024]
Introduction
Welcome to our real estate brokerage service! At [Herothra], we are committed to privacy and transparency in our information practices. This Privacy Policy outlines how we collect, use, disclose, and process personal information related to our services. Please read this policy carefully to understand your rights and choices regarding your personal information.
Scope
This Privacy Policy applies to:
- Our websites and mobile applications that display or link to this Privacy Policy.
- Former, current, and prospective clients, brokers, independent agents, real estate professionals, and customers.
- Other individuals who use our services, whose personal information we receive related to the services, or who otherwise interact with us related to our business.
Information We Collect
We collect personal information from various sources, including:
- Information you provide directly to us (e.g., when you sign up for our services, submit inquiries, or communicate with us).
- Information is collected automatically through cookies, tracking, and analytics.
- Information from third parties (e.g., partners, promotional offerings).
How We Use Your Information
We use your personal information for the following purposes:
- Providing real estate brokerage services.
- Communicating with you about listings, transactions, and related matters.
- Improving our services and customer experience.
- Complying with legal obligations.
Disclosure of Personal Information
We may share your personal information with:
- Independent real estate professionals and owners/operators of real estate brokerage companies to enable them to provide services requested through our platform.
- Third parties provide services requested through partnerships or promotional offerings.
Cookies and Tracking
We use cookies and similar technologies to enhance your experience on our website. You can manage your cookie preferences through your browser settings.
Security and Data Retention
We take reasonable measures to protect your personal information. We retain data only as long as necessary for the purposes described in this policy.
Your Rights and Choices
You have the right to access, correct, or delete your personal information. Please contact us if you wish to exercise these rights.
Children
Our services are not intended for children under 13 years old. We do not knowingly collect personal information from children.
Changes to this Privacy Policy
We may update this Privacy Policy periodically. Please review it regularly for any changes.
Commission structure
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Understanding Real Estate Brokerage Commission:
- Real estate agents act as intermediaries between buyers and sellers. They assist in property transactions and receive a commission for their services.
- The commission is typically a percentage of the property’s sale value.
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Commission Rates:
- In India, real estate agents usually charge around 1-2% of the deal value as their commission, also known as the real estate brokerage fee.
- For example, if there’s a property deal worth Rs. 1,00,00,000, the broker would receive Rs. 1,00,000 from both the seller and the buyer.
- While this is the standard rate for residential properties, commercial property deals may involve higher brokerage fees based on factors like location and property size.
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Brokerage Firms vs. Individual Brokers:
- Individual Brokers: These are independent agents who operate on a smaller scale.
- Brokerage Firms: These firms act as middlemen between buyers and sellers. They handle larger operations and may have multiple agents.
- In This way, we give 50% of the commission paid to the agents who listed properties with us and 50% to the company.
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Tax Implications:
- The commission earned by brokers is subject to GST (Goods and Services Tax) at a rate of 18%.
- Additionally, income tax applies based on the individual’s tax slab if the broker is an individual.
Note: Before you register please read the private policy and terms and conditions. For any queries feel free to contact us.
Contact Us
If you have any questions or concerns about our Privacy Policy, please contact us at [Contact@herothra.com].