A broker fee is the commission fee that is agreed upon contractually between the dealer and The Boat Site prior to entering into a relationship. Here are a few options on how such fees may be calculated:
Option 1: Dealer Minimum Price
The Boat Site sells the boat for the best price it can, ensuring that it at least covers the minimum expected price that the dealer would like for the boat. The difference between the actual sale price and the minimum expected price by the dealer is considered as the Broker Fee. The Boat Site will transfer the minimum expected price into the Dealer’s bank account after the sale has successfully been concluded.
Option 2: Commission Share
The Boat Site and the Dealer agree on the minimum selling price. The Boat Site sells the boat for the best price it can. Commission is then payable to The Boat Site as follows:
| Sale Price |
Success Fee |
| Up to R80 000 |
5% of sale price |
| R80 000 to R100 000 |
7% of sale price |
| R100 000 to R150 000 |
10% of sale price |
| R150 001 or above |
12.5% of sale price |
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