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How do I add Gross commission and Outgoing Referrals to a Transaction

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Our Listing - CoBroke sale

For a transaction that is Our Listing - CoBroke sale, the checkbox next to our seller is checked off, and the checkbox next to our buyer is not checked off

  1. Click Properties menu
  2. Open the Commission submenu
  3. Use the search button to locate a property
  4. Enter the selling price
    • The commission price will automatically filled in. But you can change its value by typing in the comm price field
    • For instance, the commission price was changed to $490,000
  5. Enter the percent value for the listing commission in the % field and the gross commission will compute automatically  - or enter the gross commission in amount in the field and the percent value will compute automatically
    • for instance, 3% is the commission and will automatically compute the 3% of the commission price of $490,000 which is $14,700
  6. Click the save button

You can enter co-broke commission information by following the instructions below

  1. Fill in the value and the dollar amount will compute automatically or the other way around
  2. Click the box for pay cobroke if the office will pay a check with the amount stated to the cobroke office. Otherwise, uncheck the box
  3. Click the save button

Agents might already have been added

Before user started working on the Commission page, someone may have entered all your agents on the Agent submenu page - using these steps:

  1. Click the Agents submenu
  2. To add an agent, click the + symbol button
  3. Search for the agent by clicking the field or magnifying glass button
    • another window will show to select an agent
  4. Enter the percent of award
  5. Enter the percent of adjusted gross
  6. Click the save button
  1. The agent added to the Agents page will be also be added to the list of agents in the Commission submenu

To add an agent to the adjusted list commission

  1. Click the symbol button
  2. Search for the agent by clicking the magnifying glass button
  3. Enter the percent of adjust gross in % or amount
  4. Enter the percent of award
  5. Click the Add button

If agents were not already added, you can add / modify agents on the transaction here on the Commission page - using these steps:

As new agents are added to the list, the $ % column and award % column will adjust and keep a total of 100% allocation for both the amount and the award

  1. The list of agents in the Commission page will be the same list of agents in Agents page.

To add a CoBroke office in the list,

  1. Click the + button in cobroke commission
  2. Search for the cobroke office by clicking the magnifying glass button
  1. Type a part of the cobroke office name
  2. Click the search button or press Enter on keyboard
  3. Click the cobroke office
  1. Click  the add button
  1. The cobroke office will be added on the list.

CoBroke Listing - Our Buyer

In the Commission page for a CoBroke listing, the values on the commission submenu are usually set to $0.00 when user first opens the page. The page may already have a list of agents that are involved in the transaction with the given $ % and award % values for each agent.

  1. In a CoBroke listing, the box our seller should not be checked off
  1. Enter the selling price
    • The commission price will be filled in automatically
  2. Enter the cobroke commission % value and the $ value will compute automatically or vice versa
  3. Enter selling commission % value and the $ value will compute automatically or vice versa
  4. Click the save button
  1. The selling commission of $24,000 is repeated at the top of the adjusted sell commission and
  2. Distributed to the agents on the list with an amount based on the $ percentage values

To add a CoBroke office to the transaction

  1. Click the small + button
  2. Search for the cobroke agent by clicking magnifying glass button
  1. Type a part of the cobroke office name
  2. Click the search button or press Enter
  3. Click the cobroke agent
    • The co broke office will auto populate
  4. Click the add button

In House - meaning Our Listing - Our Buyer

When user first opens the Commission page, the values for our seller (1) and our buyer (2) may all be set to $0.00. The page may already include list agent (3), sell agent (4) that are involved in the transaction with the given $ % and award % values in each agent.

The listing agents (1) and buyer agents(2) in Agents sub menu are the same on the Commission submenu.

  1. Enter the selling price
    • The commission price will be filled in automatically
  2. Enter the listing commission % value and the $ value will compute automatically or vice versa
  3. Enter the selling commission % value and the $ value will compute automatically or vice versa
  4. Click the save button
  1. The listing commission of $42,000 is the same as the adjusted list commission and distributed to the agents on the list with an amount based on the $ percentage values
  2. The selling commission of $55,000 is the same as the adjusted sell commission and distributed to the agents on the list with an amount based on the $ percentage values

Paying Referrals Off the Top

  1. Referrals are taken off, on the amount on top of the commission $ values. This will be given to different referral companies listed.
  1. Enter the referral % values and the values will compute automatically or vice versa
    • For instance, $14,700.00 will appear automatically after entering 35.00 as the % values
  2. Click the save button
  1. The referral of $14,700 is the same as the referral commission and distributed to the referral companies on the list with an amount based on the $ percentage values.
  2. The adjusted list commission of $27,300 is distributed to the agents on the list with an amount based on the $ percentage values.

Add Transaction fees collected

If your office charges a transaction fee:

  1. Enter the transaction fee that is charged to the seller
  2. Enter the transaction fee that is charged to the buyer
  3. Click the save button
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