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Terms and Conditions

Terms and Conditions – PrivateBuyer.com

DEFINITIONS

  • Affiliate: Person who is not an agent, owner, or buyer who refers a seller, buyer, or member.
  • Business Listing: Any business of which the owner thereof gave a written mandate to a Listing Agent or Broker to market and sell such a business.
  • Cause4Sale.com Register: A register available to Real Estate Practitioners, Brokers, Attorneys, Sellers, Buyers, and related Independent Service Providers across the globe, to register and record all property related interactions and agreements between them, through PrivateBuyer.
  • Estate Agent: A registered Estate Agent/ Property Practitioner / Broker validly registered in the country of jurisdiction.
  • External Source: An Independent Service Provider who either sourced the property, the actual buyer, or who matched the two.
  • Independent Service Provider (ISP): Any person over the age of 18 rendering services to PrivateBuyer clients, forming part of a global network of service providers, working in association with each other.
  • Listing Agent: An estate agent mandated by an owner of property to market and sell such property.
  • PrivateBuyer.com: A division of Realtor Support Centre CC Reg No:1996/23666/23
  • PrivateBuyer Income: Income generated by using the PrivateBuyer.com platform and offered services.
  • PrivateBuyer user: Any person registered on and using the PrivateBuyer platform.
  • Property Listing: Immovable property of which the owner thereof gave a written mandate to a Listing Agent to market and sell, or market and let such property.
  • Prospective Buyer: A person, or legal entity, interested in purchasing immovable property.
  • Residual income: Income that one continues to receive after the completion of the income-producing work. Examples of residual income include royalties, rental/real estate income and income from ongoing sales.
  • Royalty Income: A portion of the transaction fee that is shared with ISP’s.
  • Successful Transaction: A successful sale of immovable property registered in a Deeds Office or similar office depending on the country of operation.

Welcome to PrivateBuyer

Thank you for showing an interest in our unique service offering. We strive to increase the volume of your deals, to save you time, and protect you from being cut out of deals, where you formed part of the effective cause for the sale.

PrivateBuyer is an online platform generating transactions for estate agents, attorneys and PrivateBuyer users. It is building a network of Independent Service Providers, to form a global “Power Team”, sourcing properties for potential buyers.

Income is derived from rendering advertising, marketing, lead generation and virtual assistant services, to users who in their capacity as Independent Service Providers earn commission on transactions resulting from these services.

PrivateBuyer Registration

Users of the PrivateBuyer platform will be required to register on the PrivateBuyer web-app, by completing the short registration form. The registration process may take up to 24 hours for activation and is subject to approval. By just signing up, you are under no financial obligation. Only by using our services, you commit yourself to our transaction fee, for transactions where we sourced the buyer or the seller.

Users warrant that they are complying with all relevant legislation when loading any information onto the platform.

Using the PrivateBuyer platform

Written permission from the buyer and or seller is required, should you use the platform on behalf of someone else. This permission could form part of an agent’s standard mandate, if not, a template form is available on request.

PrivateBuyer will post the requirements of your prospective buyers on your profile, retain it in their database and advertise it on the Privatebuyer Web-app. It will use matching software to match your buyers with available properties in its database and use its network of participating agents who advertise on other property portals, to also offer their off-market properties to our clients.

You can save your property listings on our Cause4Sale database (only the first to list will be recognised), to enable PrivateBuyer to match your property listings with prospective buyers on a continuous basis. Sellers may add names to the original source of a listing, to provide for additional role players forming part of the cause of the sale. All marketing efforts need to be recorded on the Cause4Sale register, in order to be recognised.

When you source a new property listing, you can check on our advertised buyer’s needs analysis list, to see if we have a prospective buyer for you.

Should your property listing match the criteria of a prospective buyer, you can offer the property to the prospective buyer on the PrivateBuyer platform.

Should we not have a potential buyer for your property listing, or you just want to expand your search, you can post your property listing on the platform, to be ready for any new buyers, plus we will advertise the property, without photos.

No direct contact details are allowed on any needs analysis or property listing.

Transaction Fee

Private Buyer charges a transaction fee for rendering the following non-property practitioner services:

  • Post on the PrivateBuyer Web-app what buyers are looking for.
  • Channel properties offered for sale to prospective buyers.
  • Advertise listed properties for sale.
  • Match buyers and sellers and provide you with matching leads.
  • Remunerate Independent Service Providers for referrals
  • Protect buyer- and seller agents to work across agency and country borders.
  • Generate leads (buyers & properties) for participating transactors.
  • Register role players who form part of the effective cause of the transaction.
  • Protecting sellers against the risk of having to pay double commission.

The PrivateBuyer fee is the lower value of 1% of the transaction value, or 20% of the actual commission and the transaction fee combined.

Fees for services rendered will be earned as soon as a transaction is signed by both parties, invoiced when suspensive conditions are met, but will only be payable on date of transfer.

Affiliates

Be our eyes and ears in the market, by sharing what is happening in your area. Become an advocate for PrivateBuyer and earn a portion of the transaction fee.

Earning Royalties

Build your own PrivateBuyer business through the network you create for Privatebuyer, by referring new users to the company. PrivateBuyer offers all Independent Service Providers the opportunity to earn residual income, for as long as they remain registered members of PrivateBuyer, by earning from active people they recruited for PrivateBuyer.

PrivateBuyer – Terms & Conditions

By logging into the PrivateBuyer.com Web-app, or your profile created on PrivateBuyer.com, the user agrees and warrants that:

Use of Web-app
  • Login details will be used by the user alone.
  • By using the Web-app, you agree that you have read these Terms and Conditions; that you accept that these Terms and Conditions are binding on you and that you agree to abide by these Terms and Conditions.
  • If you do not agree to these Terms and Conditions, you may not make use of this Web-app.
  • You acknowledge and understand that you will be required to follow the registration procedures.
  • PrivateBuyer will display what buyers are looking for, as well as properties offered for sale by users, subject to the Terms and Conditions and such limitations as determined by PrivateBuyer from time to time.
  • Uploading of any material will be subject to applicable law. A user must ensure that the material is not in contravention of any private, public, personal, or intellectual property rights of others, including but not limited to copyright or trademark infringement or any applicable law. A user shall not use the Web-app to distribute, store, transmit or destroy any material in contravention of any applicable law.
  • Users will not use contact details obtained from PrivateBuyer to contact clients directly, to offer a property for sale or to purchase a seller’s property, unless agreed to by PrivateBuyer.
  • By directly contacting clients who were introduced through PrivateBuyer, the user agrees to allow PrivateBuyer to immediately invoice them for their transaction fee, as soon as an offer to purchase is accepted, payable on demand.
  • Users are entering into an agreement with PrivateBuyer, whereby the role and interactions of the user is registered on the Cause4Sale.com register, authorising PrivateBuyer to advertise what buyers are looking for, and by using sellers or a network of participating agents as independent service providers, to offer the seller’s properties to their prospective buyers.
  • All role players involved in a transaction agree to their roles to be recorded on the Cause4Sale register.
  • All role players involved in the transaction, agree that the payment certificate issued by PrivateBuyer, would be a valid payment instruction to be sent to the transferring attorney.
  • Users undertake to constantly update their statuses with regards to the availability of properties offered or intention to purchase properties. Failing to do so, would authorise Privatebuyer to amend these statuses accordingly and act against these transgressors by charging a R500 fee.
  • Should there be a dispute regarding the payment certificate, PrivateBuyer provides an arbitration process to deal with it.
  • PrivateBuyer reserves the right to amend or change these terms and conditions at any time. The last date of an update is displayed at the bottom of the Terms and Conditions page and users should check it on a regular basis to keep themselves up to date.

Capacity to enter into Agreements

You need to be at least 18 years of age to make use of the Web-app.

You warrant that you have the required legal and contractual capacity to enter into and be bound by our contractual terms. Should you not be sure whether you have the legal capacity to enter into contracts, you must contact someone who is able to provide you with this information before you continue using this Web-app.

Breach or failure to comply with terms and conditions

Should you commit any material breach of these Terms and Conditions, or if you use the Web-app in an unauthorised manner or interact with the Web-app in any unlawful or unauthorised manner, PrivateBuyer will be entitled to immediately terminate your access to the Web-app without prior notice to you, and without prejudice to any other rights we may have.

PrivateBuyer’s chosen address for any legal notice or process is:

2 Frank Smuts Street, Heuwelsig, Bloemfontein, South Africa

DETERMINATION OF DISPUTES

All disputes between users will be adjudicated by an independent arbitrator appointed by PrivateBuyer from time to time after receiving written statements from all parties involved. The determination by the arbitrator appointed by PrivateBuyer will be final and binding. The arbitrator will have the authority to determine if any of the users will be liable to pay the costs for appointing the arbitrator.

Disputes between users and PrivateBuyer and vice versa

  1. Any disputes arising out of or in connection with the terms and conditions must be determined in accordance with these terms and conditions, except where an interdict is sought for urgent relief which may be obtained from a court of competent jurisdiction.
  2. On a dispute arising (not moneys or a debt to PrivateBuyer), the parties who wish to have the dispute determined must notify the other party thereof. Unless the dispute is resolved among the parties to that dispute within 14 (Fourteen) days after such notice, either of the parties to the dispute may refer the same for determination in terms of paragraph 3 hereunder.
  3. If a party exercises his right in terms of Clause 2 above to refer the dispute for determination, such dispute shall be referred to a person who shall in each case have a minimum of 10 (Ten) years’ experience in his or her field:
  4. If the dispute is primarily an accounting or financial matter, a practicing chartered accountant.
  5. If the dispute is primarily a legal matter or a matter relating to the behaviour and or conduct of a member, a practicing attorney or advocate.
  6. If the dispute primarily relates to the nature of buildings, structures, installations or equipment, a practicing registered Architect.
  7. If the dispute primarily relates to the size of form of the Land or the position, height or size of buildings, structures, installations or equipment, a practicing registered Land Surveyor.
  8. If the parties are unable to agree on the appointee as provided for in Clause 3 within 3 (Three) days of being requested to do so, then PrivateBuyer will determine whether the dispute must be referred to an accountant, an attorney, an advocate, an architect or a land surveyor and PrivateBuyer will facilitate the process to appoint such objective and independent person.
  9. The person appointed as provided for in Clause 3 shall in all respects act as an expert and not as an arbitrator.
  10. The proceedings shall be on an informal basis, it being the intention that a decision should be reached as expeditiously as possible, subject only to the due observance of the principles of justice. The process will be guided by the appointee.
  11. The parties shall cooperate fully with the appointee to enable the appointee to decide within 21 (Twenty-One) days, or so soon thereafter as possible.
  12. The decision of the expert shall be final and binding upon all parties and capable of being made an order of court on application by any of them.
  13. The costs of and incidental to any such proceedings, including the fees of the expert, shall be in the discretion of the expert who shall be entitled to direct the allocation of the costs, and on what applicable scale such costs will be determined, if necessary, by the controlling body of the expert.
  14. The provision of this Clause constitutes the irrevocable consent of the parties to any proceedings in terms thereof and none of the parties shall be entitled to withdraw from or claim in any such proceedings that they are not bound by such provisions.
  15. The provisions of this Clause shall be deemed to be severable from the remainder of the terms and conditions and shall remain binding and effective as between the parties notwithstanding that this term or condition may otherwise be cancelled, amended, or declared of no force and effect for any reason.
  16. Notwithstanding anything to the contrary contained in this, the parties shall be entitled to institute legal proceedings of whatsoever nature on behalf of the Company by way of application, action or otherwise in any court having jurisdiction for any purpose whatsoever relating to any matter in respect of any of the provisions of this agreement.

Information Feeds

  • Take note that we may use the services of other organisations, or allow other organisations, to provide information on the Web-app.
  • While we take reasonable care in selecting such other service providers and in monitoring the information such organisations provide on the Web-app, we are not responsible for the provision of this information, and we make no representations or warranties of any nature as to the accuracy or appropriateness of any such information.
  • You acknowledge and agree that we will not be directly or indirectly liable or responsible for any damage that you may suffer if you choose to rely on such information, and you understand that you act or rely on such information at your own risk.

Links to Third Party Web-apps

  • You acknowledge and understand that this Web-app may contain links to other Web-apps.
  • While we do take reasonable care to provide links to reputable Web-apps, we have no control over the content of and on such other Web-apps and we cannot accept responsibility or liability for the information provided or made available on these Web-apps. You acknowledge and understand that a link from our Web-app to any other Web-app does not mean that we have checked or endorsed the owners or administrators of that Web-app, or their business practices and operations.
  • Links to other Web-apps which may be provided on our Web-app from time to time, are for your convenience only, in respect of matters and services that we think may be useful or interesting to you. You are responsible for complying with the terms and conditions applicable to such third-party Web-apps (if any).

Intellectual Property

  • You acknowledge and agree that we retain all copyright and other intellectual property rights in all content published or made available on the Web-app, including (but not limited to) software, written text, images, and design.
  • The logos and trademarks shown on this Web-app are our registered and unregistered trademarks or those of third parties. You may not use any such logo or trademark without our written consent or the consent of the relevant third parties (as the case may be).
  • You acknowledge that we own all content and material on the Web-app and that you have no right, title, or interest in or to any such content and material.
  • Users are prohibited from reverse-engineering or attempting to copy the Web-app in any way.

Transmission of Information Via the Internet

  • Although we take reasonable steps to limit the risks, you acknowledge and accept that information sent or transmitted via the internet may be unlawfully accessed, changed and/or monitored.
  • You understand that you will bear the risk of transmitting information in this manner and under no circumstances will we be liable for any loss, harm, or damage that you might suffer as a result.
  • PrivateBuyer reserves the right to request independent verification of any information you transmit to us via the Web-app or via email.
  • When submitting your personal information on PrivateBuyer’s Web-app – which may be submitted to a Bond Originator in order to conduct a prequalification assessment – you acknowledge and agree that the Bond Originator may share your prequalification results with PrivateBuyer in order to complete the profile information on your unique profile. The following personal information will be kept on PrivateBuyer’s Web-app until such time as you request that your profile be deleted / deactivated: Full name and surname, contact details (telephone number and email address), Identification number, and prequalification assessment results.

Hardware and Software

  • You should ensure that you use and maintain hardware and software of sufficient quality and performance to ensure that the functionality of the Web-app performs at its best state.
  • PrivateBuyer does not warrant that any file, document, download or application available via or from this Web-app is free from viruses, trojan horses, time-locks or any other code or data that could negatively affect the functioning or operation of your computer, or other device or network.

Termination, Suspension and Limitation

  • Where we choose to suspend or discontinue the Web-app, or to change the functionality of or services offered on the Web-app, whether temporarily or permanently, we will try our best, wherever possible, to provide you with some notice before we do so.
  • Notwithstanding this undertaking, you acknowledge and accept that we are entitled to modify, suspend, or discontinue the Web-app at any time and that we will not be responsible for any damage or loss that you may suffer if we choose to do so. We may also choose to restrict access to certain or all of the functionality or services offered on the Web-app.

No Warranties or Representations

  • To the fullest extent permitted by applicable law, the Web-app is provided on an “as is” and “as available” basis.
  • PrivateBuyer does not warrant or represent that the Web-app will be error-free, or that the content provided on or via the Web-app is or will be accurate, suitable, complete, or fit for or compatible with any particular purpose.

Disclaimer and Limitation of Liability

  • Except for any statutory liability that we may have towards you, and which cannot be disclaimed or altered by agreement between you and us, neither we, nor our affiliates, employees, officers or agents will be responsible or liable in any way for any damage or loss of whatsoever nature arising from the Web-app, your use of or reliance on the Web-app, or on any information provided on or via the Web-app.
  • This includes, without limitation, any direct, indirect, special, incidental, consequential or punitive damages, whether arising out of contract, statute, delict or otherwise and regardless of whether we were expressly advised of the possibility of such loss or damage.
  • You acknowledge and understand that use of this Web-app is entirely at your own risk.
  • Without detracting from the generality of the limitation of liability set out above, you expressly acknowledge and agree that we will not be liable for:
    • any interruption, malfunction or failure of or by our technical systems regarding the Web-app for any reason beyond our reasonable control, including (but not limited to) war, government action, industrial action or dispute or force majeure (acts of nature);
    • any damage to your computer or device (including hardware and software) as a result of your use of the Web-app; or
    • any loss of information or unauthorised use of data caused by your use of systems and/or encryption standards that are below generally accepted levels.

All Users Acknowledge That:

  • PrivateBuyer is not an estate agent, attorney, financial services provider, or other advisor, and makes no representation in that regard.
  • each user is responsible for the negotiation and conclusion of any agreement that may be concluded by virtue of access to a property listing on the Web-app.
  • PrivateBuyer is not responsible for the content, correctness, or completeness of the property listings on the Web-app, nor is it responsible for the security of user’s password access to the Web-app.
  • PrivateBuyer does not warrant or verify the correctness, completeness or accuracy of the information furnished in relation to properties listed on the Web-app, or any other information contained on the Web-app.

PrivateBuyer Gives No Undertaking or Warranty Regarding:

  • the properties listed on this Web-app.
  • accessibility or operation of the Web-app;
  • any listing, download, photograph or video or any other application are free of any virus or other harmful mechanism.

Personal Information

All users confirm that they have received written consent from buyers and sellers to disclose the personal information of the buyers and seller for the purpose of marketing their property or property to them.

General

The headings of the clauses in the Terms and Conditions are provided for convenience and ease for reference only and will not be used to interpret or attach meaning to the Terms and Conditions.

No failure or delay by us to exercise any of our rights under law or in terms of these Terms and Conditions will be interpreted as a waiver of any such rights, nor will it affect the validity of any part of these Terms and Conditions or prejudice our rights to take any subsequent action against you.

If any provision of these Terms and Conditions is held to be invalid, unlawful, or unenforceable for any reason at all, the relevant provision will be deleted from these Terms and Conditions and all remaining provisions will continue to be valid between PrivateBuyer and you, to the fullest extent permitted by law.

If you have any questions or do not understand anything in these Terms and Conditions, or if you want to send any comments or complaints to us, please send an email to gert@privatebuyer.com and we will respond to you as soon as possible.

Last Update – 8 April 2024