Estate agency commissions earned on the sales of properties and land and auction income are recognised on the date<br>contracts are exchanged. Property management income is recognised when the cash is received, which reflects the<br>point at which income is earned and contractual obligations have been fulfilled. Insurance commission is recognised<br>upon fulfilment of contractual obligations with a provision for future clawback repayment in the event of early termination by the customer. Survey and valuation revenue is recognised on the date the survey or valuation report is completed,<br>which reflects the point at which all contractual obligations have been fulfilled. Mortgage origination income is<br>recognised on completion of the mortgage transaction.
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