Policy and Procedures for Agent Service Fees
The ensuing policy and procedure are applicable to both parties, namely buyers/tenants and landlords/owners, in accordance with Ethiopian rules and regulations. It shall become effective upon the execution of a lease or sale contract between the aforementioned parties.
Our company’s agent service fees are outlined as follows:
For the Rental/Lease of Residential or Commercial properties:
Kindly contact us at sales@zegebeya.com to determine the applicable commission. We are committed to providing optimal rates and services.
For the Sale of Residential or Commercial properties:
The fee amounts to 2% of the total sale price, as per the stipulations of Ethiopian rules and regulations.
= (Total sale price) × 0.02
Please note the following:
A. The service fee is non-refundable.
B. The service fee payment is due upon the signing of the sale/lease agreement.
C. The service fee constitutes a one-time payment.
General regulations:
Tenant/Buyer
- This policy and procedure are applicable solely if the property has been presented, visited, or accessed through our agency.
- Our services may or may not encompass negotiation and agreement facilitation, contingent upon the preferences of our clients.
- Unauthorized referral of properties shown to third-party tenants/buyers/agents is prohibited. Such actions would result in the assessment of our service fee, with both parties held liable for ensuing legal expenses.
- If a property that we arranged a visit to is purchased or rented without our service fee being paid, our company will pursue legal means to claim double the stipulated payment.
- Delayed payment exceeding 15 days from the date of the lease or sale agreement will incur an additional 10% charge for each subsequent week.
- After our visit, clients are free to directly engage with the owner/landlord/seller. However, the applicable service fee rate remains unchanged, necessitating corresponding updates.
Landlord/Owner/Seller
- This policy and procedure are applicable solely if the property has been presented, visited, or accessed through our agency.
- Our services may or may not encompass negotiation and agreement facilitation, contingent upon the preferences of our clients.
- Unauthorized referral of clients introduced to third-party owner/landlord/seller/agents is prohibited. Such actions would result in the assessment of our service fee, with both parties held liable for ensuing legal expenses.
- If a property is leased or sold to a client we introduced, without our service fee being paid, our company will pursue legal means to claim double the stipulated payment.
- Delayed payment exceeding 15 days from the date of the signed lease or sale agreement will incur an additional 10% charge for each subsequent week.
- After our visit, owners/landlords/sellers are free to directly engage with the tenant/buyer. However, the applicable service fee rate remains unchanged, necessitating corresponding updates.
- Immediate notification is required for any alterations in price/rate, change of intent, or the property’s status.
- Our company holds no responsibility for payments made by an owner/landlord/seller to another agent or broker for properties we presented. However, we reserve the right to claim our due payment.
- No service fee is charged for clients who have visited the property through another broker or agent, provided prior notification is given.
Lease Contract / Agreement Addis Ababa:
This link is for downloading the rental contract / agreement template for renting an apartment, house or office in Addis Ababa Ethiopia. You can download / change it as needed.
Who can legally buy real estate in Ethiopia?
- Have Ethiopian citizenship.
- Foreign nationals of Ethiopian origin.
- If the foreigner is an investor, he/she can buy property on behalf of the company. All investors have legal right to housing and can buy and rent property. Property can also be granted by the Government according to the needs of the company. However, to become an investor, you must provide at least 200,000 USD in capital on your bank statement.