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TERMS & CONDITIONS

  1. Brokerage Fee Eligibility :

    The Fees: The Magnet Partner is eligible for a brokerage fee in respect of the property transaction carried by property buyer ("Customer" or "Client") referred by the Magnet Partner , provided that all necessary supporting documents are submitted by the Magnet Partner.

    Exclusions: Magnet Partner shall not be entitled for any brokerage fee for bookings made/done  directly by Platform’s in-house sales team.

    Documentation: The Magnet Partner must include Platform's name and relevant RERA Registration ID in all client applications and visit forms.

    RERA Registration Nos.:


    • Maharashtra: A51900000136
    • Karnataka: PRM/KA/RERA/1251/310/AG/230313/003487
    • Uttar Pradesh: UPRERAAGT25373
    • Telangana: A02500002981
    • Haryana: HRERA-PKL-REA-2034-2023


  2. Brokerage Fee Payment

    Conditions for Payment: The brokerage fee is payable only after the successful completion of a property sale, i.e on successful transfer or conveyance of ownership papers.


  3. Digital Marketing Services

    Availability: Magnet Partners may avail digital marketing services offered by Platform,  by making an online payment to Platform.

    Payment Terms:The Digital marketing services are subject to a 10% service fee, in addition to applicable GST.
  4. Revenue Sharing Breakdown

    1. The revenue-sharing ratio depends on the services selected by the Magnet Partner. The ratio is finalized when the lead is added and is based on the specific service selected.
      Service Option Revenue Sharing Ratio
      All Services (Lead Qualification, Lead Servicing, Post-Sales Collection, including Portal Leads via API) 50%
      Paid Digital Leads (via Meta/PPC, Google, API) 60%
      Post-Sales & Collection Service (for selected projects) 80% or Flat Brokerage
      Note: The revenue-sharing ratio applies to the brokerage as per MBSE product on Platform for a specific project and is valid only if the client books within the same project.
  5. Brokerage Slab Calculation

    • The applicable brokerage slab is determined at the time of lead addition based on the My Magnet Brokerage Slab Exchange (MBSE).
    • If a client books a different project, the brokerage will be based on the base invoice of 2 %, and not the specific project’s slab.
  6. Client Attribution and Duration

    Client introduced by the Magnet Partner remains associated with the Magnet Partner for a maximum period of 30 days from the closing of the lead. Post the 30 days period, the Magnet Partner shall not be entitled to claim any interest in the client.
  7. Invoice and Payment Processing

    • Invoice Requirement: The Magnet Partner must issue invoices via the mymagnet platform for any amounts payable.
    • Platform Acknowledgment: Platform agrees to must acknowledge and process all the eligible invoices.
  8. Payment Terms

    • Payment Release: Payments of the brokerage fees to the Magnet Partner will be processed  within 30 days, provided Platform has received corresponding amounts from the concerned builder or developer.
    • Payment Schedule: Payments of the brokerage fee will be processed according to the tranches received from the builder or developer.
    • Subject to applicable Tax:- The brokerage  fee shall be paid after the deduction of all applicable taxes.
  9. Refund on Cancellations

    • Client Cancellations: If a referred Client cancels its/their sale agreement or allotment, the Magnet Partner shall refund the brokerage fee paid by Platform within 15 days. In case of any further delay additional interest at 18% per annum will be payable on the same.
    • Late Refunds: If the refund is not processed within the stipulated period, Platform reserves the right to deduct/ adjust the refundable amount from future payments due to the Magnet Partner.
  10. Site Visit Expenses
    • Any costs associated with arranging Client site visits shall be borne entirely by the Magnet Partner. These expenses may be deducted from the Magnet Partner’s payouts.
  11. Discounts & Adjustments

    • Adjustment on Discounts: If any discounts, benefits, or pass-backs are provided to the Client, the final brokerage fee payable to the Magnet Partner shall be adjusted accordingly.
  12. Background Verification

    The Magnet Partner agrees to undergo a background verification process, including checks on personal, educational, and professional details. If any inaccuracies are found, Platform reserves the right to cancel the Magnet Partner’s registration without any liability for any further payments of whatsoever nature.
  13. Legal Compliance

    The Magnet Partner must obtain all necessary licenses and approvals to operate legally. The Magnet Partner agrees to indemnify and keep Platform indemnified for and against any legal claims arising from non-compliance.
  14. Dispute Resolution

    Any disputes arising from this agreement or arising out of the covenants of the transactions contemplated under this Agreement shall be referred to the courts located at Mumbai, India only.
  15. Misrepresentation & Data Breach

    In the event of misrepresentation or data breaches caused by the Magnet Partner (e.g., hacking or copying Platform data), Platform reserves the right to terminate the agreement without any liability for further payments. Legal action may also be pursued.
  16. Personal Information :

    The Magnet Partner explicitly consents for the usage of personal data in furtherance of this Agreement. If the Magnet Partner intends to withdraw its consent for the use of personal data, it shall reach out to the Support, provided hereinbelow.
  17. Confidentiality

    • The Magnet Partner agrees to maintain confidentiality regarding all aspects of Platform’s business, including payment structures, marketing strategies, brokerage information, and proprietary details.
    • Post-Agreement Obligation: The confidentiality obligation of the Magnet Partner shall remain effective for two years following the termination of the registration of the Magnet Partner.
  18. Modification or Suspension

    Platform reserves the right to modify or suspend these Terms & Conditions at its discretion. The Magnet Partner is encouraged to review these Terms periodically to stay updated.
  19. Declaration Regarding Legitimacy of Leads and Indemnity

    I, [Full Name], son/daughter of [Parent’s Name], residing at [Full Address], holding valid registration as a Real Estate Broker under the Real Estate (Regulation and Development) Act, 2016 (RERA), and operating under the business name [Broker’s Firm Name], do hereby solemnly affirm and declare as follows:

    • Legitimate Sourcing of Leads
      • I confirm and undertake that all client leads shared by me on your real estate aggregation platform (“Platform”) have been sourced through legal, ethical, and legitimate means and are free from any form of misrepresentation, data theft, unauthorized access, or unlawful practices.

    • Compliance with Applicable Laws
      • I affirm that the collection, use, and sharing of such leads are in compliance with all applicable Indian laws, including but not limited to the Information Technology Act, 2000, the Real Estate (Regulation and Development) Act, 2016, and any rules or regulations thereunder.

    • Assumption of Liability
      • I agree and acknowledge that in the event of any dispute, claim, loss, or damage arising out of or in connection with the sourcing, authenticity, or use of any lead provided by me, I shall be solely and fully liable for the same.

    • Indemnity Clause
      • I hereby unconditionally agree to indemnify and hold harmless the Platform, its parent company, directors, officers, employees, agents, and affiliates from and against any and all losses, claims, liabilities, damages, expenses (including legal fees), or reputational harm arising out of or in connection with:
      • The leads sourced and provided by me;
      • Any breach of the representations, warranties, or obligations under this declaration;
      • Any violation of applicable laws in the course of sourcing or sharing such leads.

    • No Liability of the Platform
      • I further acknowledge and accept that the Platform shall not be held responsible or liable in any manner whatsoever for the source, authenticity, legality, or consequences arising from any lead shared by me.
      This declaration is given in good faith and with full understanding of its legal implications.
  20. Support : For any issues, please contact support at [email protected]. We aim to resolve issues promptly.



    21. Note : These Terms & Conditions are subject to change at the discretion of Platform. Magnet Partners are advised to review them regularly to stay informed of any updates.
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