By oluwatope Lawanson
A leading real estate developer, Gtext and Associates has announced an increment in its commission structure for its realtors to maximise profits and cope with current inflationary pressures.
Mr Farouq Usman, the Public Relations and Communications Manager made this known in a statement on Saturday in Lagos.
Gtext and Associates is a subsidiary of Gtext Holdings created with the aim to build wealth for people through real estate and investment sales.
According to the National Bureau of Statistics (NBS), inflation rates for Dec. was pegged at 21.34 per cent.
Therefore, Usman explained that the change in its commission structure was necessary to further reward its ever growing pool of realtors.
According to him, the change had resulted in the increase of the existing commission structure by three per cent.
“In addition, nine commission outlines were adjusted including 13 per cent on direct commission on pre launch land sales, eight per cent on direct commission on offplan housing sales.
Similarly, 2.5 per cent on direct commission on secondary market, one per cent on UK property sale commission and one per cent on US property sale commission.
Others are: two to three per cent commission on Dubai property sales, two per cent on Gvest sales and three per cent on Gvest sales higher than N50m or 100,000.
Meanwhile, already launched estate land sales would get ten per cent direct commission, while ready to move in Gtext Housing sales would be paid on basis of five per cent commission.