Commission, Referral & House Rules
The definitive reference for how every rand of commission is calculated, split and paid at The Storey.
Commission splits & referral fees
1.1 Base splits
All agent commissions — sales, rentals and referrals — are split 50/50 or 60/40 with The Storey Real Estate. Agents who start on a 50/50 split can earn the 60/40 split (in the agent's favour) by achieving R4 000 000 in sales concluded at 5% commission for 4 consecutive months. The applicable split is confirmed in each agent's commission agreement.
1.2 Assistant bonus
Any agent who achieves R10 000 000 in sales at 5% commission a month for 4 consecutive months unlocks a company contribution toward a salaried assistant. T&Cs apply.
1.3 Shared listings
Where two Storey agents work a listing together, the agent share is split 50/50.
- Jonathan and Andrea list a property together → agent share is split 50/50.
- If Cait brings a buyer to Jonathan & Andrea's listing → Cait receives 50% of the agent share; Jonathan and Andrea each receive 25%. The Storey takes its company portion (50% or 40%) per the applicable split.
1.4 Shared deals (listing vs buyer agent)
When one Storey agent lists and another brings the buyer, the agent share is split 50/50. The listing agent handles all seller-side tasks; the buyer's agent handles buyer-side tasks. Both attend viewings where possible.
1.5 Multi-agent deals
Three or more agents on the same transaction, unless otherwise agreed in writing:
- Buyer agent(s) share 50% of the agent portion.
- Listing agent(s) share 50% of the agent portion.
- Any custom arrangement must be approved by management before the deal is submitted for processing.
Referrals
2.1 Cross-branch referrals
When referring a client to another branch, you must inform — by email — the receiving agent, your branch manager and the receiving branch manager, and share all relevant information. A 20% referral fee applies.
2.2 Inter-branch (agent-to-agent)
Referring a buyer, seller, landlord or tenant to another agent earns a 20% referral fee.
2.3 Rental referrals
Rental referrals must be sent to the applicable rental agent. You receive 20% of the procurement commission. If the rental commission is lower than standard, the referral fee is adjusted proportionally.
2.4 Management notification
The referring agent must notify management of the referral. The receiving agent must reconfirm the referral when submitting the deal for processing. If the referral is not submitted via management, it will not be recognised as a referral.
2.5 Commission split still applies
Referral fees are split with the agency according to your commission-split agreement.
2.6 Worked example
Example of actual earnings after the agency split:
- Agent on a 60/40 split
- Referral fee = 20% of total commission
- Agent receives 12% (60% of the 20%)
A full referral-examples table may be requested from management.
Cross-agent sales & client retention
3.1 Repeat business from a co-agent's buyer
If another agent brings a buyer to your listing and a deal is concluded, and you later sell that buyer's property or help them buy again, commission is split 50/50 with the original buyer's agent unless otherwise agreed in writing.
3.2 Repeat business from a co-agent's seller
If you sell a property with another agent and the seller later buys or sells with you, the future commission is split 50/50 with the original co-agent unless otherwise agreed in writing.
3.3 Client ownership
Client ownership lasts 6 months from the last meaningful engagement, unless otherwise agreed.
- Meaningful engagement includes: property updates, valuations, viewings, listing proposals or written communication.
- Incoming queries from a previously-worked client must be disclosed to the previous agent immediately.
Territory rules & cross-area sales
4.1 Work within your assigned area
Agents must work within their assigned areas as listed under CMA: Suburb.
4.2 "Previously worked"
"Previously worked" in a building means you have:
- Listed, sold or completed a valuation in that building, or
- Had a live buyer or seller client in that building within the last 12 months.
A single viewing, or any interaction more than 12 months old, does not constitute "previously worked" unless supported by documentation.
4.3 Building registers
A list of previously-worked buildings must be provided to all relevant area agents.
4.4 Selling in another agent's area
If an agent sells in another agent's area without coordinating, the area agent is entitled to a 20% referral fee.
4.5 Network listings
Agents may list network properties in other areas but must inform the area agent in writing.
Access & canvassing protocols
5.1 The 24-hour rule
Your buyer may send you a property outside your area. The assigned area agent then has 24 hours to respond.
Valid communication: WhatsApp, email or CRM messages are all accepted as written communication. A valid access request must include:
- The address and a link,
- The buyer's full name,
- Confirmation that the buyer wishes to view.
Access is considered granted when the area agent confirms availability, shares access details or arranges to open. If the area agent requests more information (e.g. buyer details), the 24-hour window pauses until the information is supplied. If the area agent does not provide access or respond within 24 hours, the buyer's agent may canvass the property.
5.2 No unauthorised canvassing
Unauthorised canvassing remains strictly prohibited.
5.3 Third-party listing links
Sending another agent a link to another agency's listing does not entitle you to commission.
Bond, conveyancing & FX rules
6.1 Bond originator
BetterBond is preferred. The agent who sends the referral receives the BetterBond referral commission.
6.2 Conveyancing
STBB or Werner Boucher are the preferred conveyancers. Agents may not recommend unvetted conveyancers.
6.3 FX trader
Currency Partners.
Third-party referral commissions are split between the agent and the agency; the split is agreed between the agency and the third party. The company reserves the right to invoice for additional referral commissions that are in line with company interests — interior design, contract work or development work included.