Boost - Frequently Asked Questions
Boost is a rewards program by Lyte, where you can enjoy Cash Rewards of up to 6% on the Boosted Commissions upon completion of a Commitment Period.
As long as you have at least one upcoming Resale and/or Project transaction, and do not have any outstanding cash outs due to Lyte, you will be eligible to participate in Boost.
Yes. You have a choice to Boost for a commitment period of 90, 270, or 365 days (the “Commitment Period”).
The Cash Rewards are quoted based on 365 days, and will be prorated based on the selected commitment period, as follows:
- 90 days: 4% Cash Reward
- 270 days: 5.25% Cash Reward
- 365 days: 6% Cash Reward
Please note that these Cash Rewards amounts are only valid for commissions received by 13 March 2024.
The Cash Reward of 4-6% is based on the amount you choose to Boost and the commitment period. It will then be prorated over the commitment period up to 365 days.
For example, if you choose to Boost an amount of $100,000, which gives 6% Cash Reward for a commitment period of 365 days, you will receive $106,000 at the end of the commitment period.
If you wish to withdraw your Boosted commissions before the end of the commitment period, the principal amount that was Boosted will be subjected to an early withdrawal fee of 3% and your Cash Rewards will be forfeited.
After you submit your Boost early withdrawal request, you will receive the funds in your Lyte-registered bank account within 3 business days.
The minimum amount to Boost per transaction is $20,000.
This means you must have at least one upcoming Resale and/or Project transaction with more than $20,000 in commission to be received after deducting your agency and other fees.
You will have to meet all the below eligibility criterion in order to participate in Boost:
- be a Registered User of a LytePay Account;
- have fully complied with our account opening criteria (as set from time to time), including our know-your-customer procedures;
- be a registered real estate salesperson as defined in the Estate Agents Act (Cap 95A, Rev Ed 2011) of Singapore, with a property agency which has an existing contract with LytePay;
- be offered to participate in the Boost Program by Lyte, which shall be offered to Registered Users at Lyte’s sole discretion; and
- have at least one upcoming Resale and/or Project transaction
- do not have any outstanding cash outs due to Lyte.
Provided you fulfil the abovementioned criterion, you may submit your interest to participate in Boost via the Typeform.
For more details, please refer to the full Boost Terms & Conditions.
Your Boosted Amount and Cash Rewards will be transferred to your Lyte-registered bank account within 3 business days after the Boost End Date.
You will also receive an email upon successful completion of the bank transfer.
Yes, you may. Please email firstname.lastname@example.org as soon as possible, so that the necessary changes can be made.
There will be no fees as long as you submit your cancellation request prior to the start of your Boosting period.
No, you will not be able to Advance from any transaction(s) once your Boost commences.
If we receive your commission within 30 days of receiving your Boost request, you will receive an email upon commencement of your Boost transaction.
However, if we receive your commission 30 days after receiving your Boost request, we will email you to confirm if you would like to proceed with your Boost transaction. Please note that the Cash Rewards for Boost may or may not change if we receive your commissions after 13 March 2024.
If we receive your commission 30 days after receiving your Boost request, we will send you an email to confirm if you would like to proceed with your Boost transaction.
If you decide to cancel your Boost request, we will transfer your commission to your Lyte-registered bank account within 3 business days.
Please note that the Cash Rewards amounts are only valid for commissions received by 13 March 2024.
If you choose to only Boost a portion of the transaction, the remaining will be paid to you by ERA the usual way.
Yes, you may Boost more than 1 transaction as long as each transaction is at least $20,000. Simply submit a request via this Typeform by 13 March 2024.
Once we receive the full commission amount that you would like to Boost, we will start Boosting your commissions by the next business day.
You will also receive an email upon commencement of your Boost transaction.