Real Estate & Channel Partner PropTech Glossary
The definitive industry dictionary for Indian developers, channel partner principals, brokers, and sales teams. Clear definitions of key legal, sales, and technology concepts.
Showing 17 real estate and PropTech terms
Channel Partner (CP)
An authorized corporate real estate brokerage firm partnering with developers to market and sell property inventory.
In Indian real estate, a Channel Partner acts as an institutional sales agency for developers. Unlike individual freelance brokers, CPs run organized sales forces, digital marketing campaigns, and site sales teams, handling mandates for multiple builders simultaneously.
60-Day Lead Lock
A digital protection rule granting a broker exclusive attribution over a registered client lead for 60 days.
When a broker registers a client's 10-digit mobile number in the Channel Partner CRM, the system timestamps the first touch. If the buyer visits the project site or interacts with other brokers within 60 days, the commission remains protected for the original sourcing broker, eliminating deal poaching.
Mandate Channel Partner
A channel partner firm given exclusive or semi-exclusive rights to manage marketing and sales for an entire developer project.
In a sole mandate or co-mandate structure, the developer outsources the entire commercial sales operation to the CP firm. The mandate CP sets pricing strategies, manages sub-broker networks, and guarantees target sales velocity in exchange for higher commission slabs (often 3% to 6%).
First-Touch Attribution
A tracking policy crediting the broker or marketing campaign that initially logged the buyer's enquiry.
In real estate sales where multiple agents may contact the same prospective buyer, first-touch attribution creates an immutable digital record of who logged the prospect first. Verisure's Channel Partner CRM uses timestamped logs to ensure fair attribution without broker disputes.
RERA Section 10
The clause in the Real Estate (Regulation and Development) Act governing the legal functions and duties of real estate agents.
Under Section 10 of RERA, real estate brokers and channel partners must be registered with their respective state RERA authority (e.g. MahaRERA, HRERA). Agents are prohibited from facilitating sales in unregistered projects, making false representations, or engaging in unfair trade practices.
MahaRERA Form 4
The statutory architect's certificate submitted quarterly to MahaRERA documenting construction progress.
Developers in Maharashtra must upload Form 4 certified by an empanelled architect. Modern real estate CRMs sync with quarterly milestones to notify channel partners when construction stages trigger buyer installment payments and broker commission releases.
Expression of Interest (EOI)
A refundable token amount collected from prospective buyers prior to the official launch of a real estate project.
During a project pre-launch, channel partners collect EOIs (typically ₹1 Lakh to ₹10 Lakh) along with priority unit preferences. EOIs gauge market demand and grant early buyers priority allotments at inaugural pricing.
Token Deposit
The initial non-refundable or conditional booking amount paid to confirm a specific unit reservation.
The token payment locks the chosen apartment, villa, or commercial unit in the developer's inventory grid. Once the token clears, the CRM changes the unit status from 'Available' to 'Blocked', preventing duplicate sales.
Agreement to Sell (ATS)
The legally binding contract executed between the developer and the buyer detailing unit specifications and payment terms.
In India, an ATS is typically signed upon payment of 10% or 20% of the total property value. RERA mandates that developers cannot collect more than 10% without executing a registered ATS. Signing the ATS is standardly the milestone that triggers the first 50% commission release to the channel partner.
Builder Buyer Agreement (BBA)
A standardized developer contract governing the sale, construction schedule, and possession timeline of a property.
Predominant in North India (NCR), the BBA sets out terms of delivery, penalty clauses for delays, carpet area definitions, and payment milestones. CRMs track BBA execution to verify broker commission eligibility.
Sourcing Broker vs Closing Manager
The two distinct roles in channel sales: the broker who sources the client versus the developer executive who closes the deal.
The sourcing broker generates the enquiry, handles initial nurturing, and brings the client to the site. The closing manager (developer sales team) conducts the sales gallery presentation, negotiates discounts, and executes the booking voucher.
Dynamic Screen Watermarking
A security feature that renders the viewing user's name, employee ID, and IP address faintly across client data screens.
High-value real estate lead databases are vulnerable to staff photographing screens with smartphones to sell to rival brokers. Dynamic watermarking identifies the exact source of any leaked image, acting as an active deterrent against data theft.
Unit Stacking Grid
A digital visual representation of a high-rise tower showing live availability, floor-by-floor unit status, and pricing.
Replaces static printed price sheets. Real estate agents consult the stacking grid to see in real time which 3BHK or 4BHK units are Available (Green), Blocked with Token (Yellow), or Sold (Red).
Geo-Verified Site Visit
A site visit check-in validated using GPS coordinates or on-site QR codes to prove actual buyer presence at the project.
Eliminates fraudulent site visit claims. When a broker brings a client to the project sales gallery, the mobile app captures the exact GPS location and time, creating verifiable proof for developer attribution.
Commission Slab
A tiered brokerage percentage structure rewarded based on sales volume or project speed.
Developers incentivize channel partners with escalating tiers: e.g., 2.0% for 1–3 units, 2.5% for 4–7 units, and 3.0% for 8+ units in a quarter. Verisure automatically tracks cumulative volume and calculates the correct slab upon each booking.
Carpet Area (RERA Definition)
The net usable floor area of an apartment, excluding walls, balcony, and common service shafts.
Under RERA, all properties must be sold strictly on carpet area rather than ambiguous super-built-up area. Real estate CRMs store verified carpet area and internal balcony area to ensure marketing brochures adhere to state regulations.
TDS on Real Estate Commission
Tax Deducted at Source mandated by Section 194H of the Indian Income Tax Act on brokerage payments.
Developers paying channel partner commissions must deduct TDS (typically 5% for PAN-verified entities). Verisure's automated billing calculates net payout amounts after deducting 5% TDS and adding applicable 18% GST.