FAQ For Agents considering Kenekt
What is Kenekt?
Kenekt is a house and land package distribution platform that is free for agents to use. You get access to an extensive database of ready-to-sell house and land packages, and we do not take a cut of your commission.
How much commission do I get?
These vary widely across the industry currently. You can negotiate your commission directly with the builder.
When do we get paid commission?
Timing varies from builder to builder, but the terms are always laid out in the contract you establish with them when you start getting serious about a specific sale. Most would pay a percentage of the commission on an unconditional contract. A few pay first on Slab. Stages thereafter are Frame, Roof, Lock up and Settlement. For example, a builder could pay 33% on Contract, 33% on Slab and 33% on Frame. The commission is paid directly to your account and does not go through Kenekt.
How does Kenekt get paid?
Kenekt does not take a percentage of commissions but charges the builders a small flat transaction fee.
Can I promote this stock on our website or social media?
Kenekt's guidelines with the agencies specify the following promotion restrictions. When publishing and promoting packages on an agency website, social media or email newsletter:
1. The exact lot number and property address must not be shown.
2. The builder’s name, logo and marketing collateral must not be used.
3. The floor plan and façade images may be used.
4. The price must be the one shown in the Kenekt portal.
5. An agency must not promote more than 5 packages at any one time.
6. Advertising on REA, Domain, and other similar websites is NOT permitted.
Where do you get your stock?
We have a selected group of builders that we have built relationships with, and carefully researched. We have checked their finances and seen their finished work. The builders are, in some cases, actively managing their stock database directly themselves. In other cases, we do this for them.
What will my relationship with the builder be?
Once you have a client seriously interested in a package, we introduce you to the builder and facilitate you establishing a direct marketing agreement with that builder. That contract would then stipulate all the details that can vary somewhat from builder to builder.
How will I view the stocklist?
You will get a login to a password-protected website that gives you access to a large stock database. You can search this database and apply filters and bookmarks, to narrow your selection to a shortlist for your client. You can drill into all the data for each property, and you can share each property individually with your clients without exposing the rest of the stock to them.
What if you don’t have what I’m looking for?
Whether it is minor tweaks to the product offering, like a different façade or an extra bedroom, or a completely different location or product type than you are able to find in the portal, please contact us with any other criteria, and we can work to source stock for you.
Do you have NDIS / Single Contract Properties?
We have these and many other types of properties and we are continually expanding the range of our offering. These are criteria you can filter for in our platform. We also work closely with builders who could deliver additional packages outside of those that are presented as available in the platform, so please contact us if you don’t find what you need.
Can the name of the builder be seen?
The builder's name is not shown on the Property Package share page. The builder name or logo is in the property pack, an extensive document the builders make, so if you are very concerned about hiding this, you can choose to download and share the flyer only. The online share pages benefit from more extensive information about each property, including SQM suburb-level data and graphs showing history and trends.
How does the Expression of Interest work?
The Expression Of Interest form captures data from buyers, such as their finance and conveyancer details. They can fill it in online directly, or you can do it with them. Any drafts they do not complete are captured and alerted to you. The product is put on hold once an EOI submission is approved by the builder.
How do I prove the sale came through me?
Submitting an enquiry or an EOI form with details of the buyer, and the property that they are interested in, is enough to prove that they found the property through you first.
How does invoicing work?
The holding deposit must go to the builder's trust account. Builders vary regarding when they will charge your buyer, but this will be detailed in the contract you establish with them.
Can you help me package a house on some land?
If you have access to some land for sale, we can help you package a house on that land so that you can exponentially increase the commission you earn. Contact us with information about the land and we can create the package you want.
I have a preferred builder, can I use them?
If there is a builder you want us to work with because you have an existing relationship, we would be happy to do so. To make it happen, please tell your builder about Kenekt and tell us about them via support@kenekt.com.au
When is the process completed?
As soon as the holding deposit is paid and the contract is signed, you will have fulfilled your obligation and you can leave the builder to manage the relationship with the buyer as they will have a direct relationship from there on. The builder will pay your commissions in stages, as the client follows through with funding.
How do I get assistance from Kenekt?
Email us at any time at support@kenekt.com.au or call 1300 KENEKT / 1300 536 358