Here you can edit the Commission Income that your brokerage will be receiving on this transaction. This can be expressed in Dollars or a Percentage. The default option will be in Dollars, but if you want to change it to Percentage, you can click on the drop down menu next to Commission Income and choose the Percentage option. Once you have chosen how you want the Commission Income to be expressed, you can then type in the appropriate dollar amount or percentage number in the text box immediately right of Commission Income.
Under Credits and Deductions Affecting Gross Income, you can add line items that apply to the gross commission and will be split with agents participating in the transaction. To do so, click on the text in blue, “There are no line items to display. Click here to add a line item.”
Upon doing so, you will see a line with various drop down menus and an empty text box populate which you can edit.
The drop down menu to the far left allows you to choose the line item as either a "Deduction" or "Credit". This represents amounts being deducted from or credited to the transaction.
The next drop down menu will allow you to choose the type of “Commission Line Item” (Note: If you do not see a Commission Line Item populate in your drop down menu, you can add additional options by going to; Set Up > User Fields > and click View next to Commission Line Item > + Add Item > Then type in the new Commission Line Item option you want > blue "Save" button or Click Here).
The next drop down menu allows you to choose which Vendor from your Vendors CRM the item will be applied to.
If you are expressing the item as a "Dollar: amount, (which is the default option), then simply enter the "Dollar" amount in to the text box that is left of the Dollars drop down menu.
If you need to express the amount as a "% of Commission Income" or "% of Sale Price" instead of Dollars, click on the drop down menu on the right and choose "% of Commission Income" or "% of Sale Price" instead of "Dollars". Upon doing so, you can then enter the % amount.
You may optionally specify a memo for the line item by clicking on the Blue button to the right.
When clicked, an input should appear allowing you to enter the memo.
If you need to delete the line item, you can simply click on the Red “x” button.
If you need to add additional line items, you can simply click on the green “+Add a line item”.
If you are co-representing a party to a transaction, you can edit the Commission Splits that you and the other agent(s) will be sharing. Before editing the split percentage, make sure that you have added the additional agent(s) that you are working with on this particular transaction in the People tab of the transaction. Managers will be able to see all Agents. Agents can only see their own information within the box.
Once you have made sure that you have added all the agents that are co-representing a party in the transaction; simply click on “Edit Transaction Splits”.
At this point you are going to want to choose if you are splitting up the gross commission among agents using percentages or a flat amount.
Type in the text box under where is says Commission Splits next to each Agent name the appropriate split that each agent will be receiving. Upon entering the percentages or flat amount for each agent, make sure to click on the blue "Save" button.
If you need to cancel the editing you are working on, you can click on the white "Cancel" button.
Note: When editing Credits and Deductions Before and or After Split, as well as the Split with Broker, you can edit this information that is specific for each agent. In order to edit the appropriate information for each agent, make sure to click on the Agent Name (this will be located at the top left under the blue bar below Commission Splits) and the edit the particular information accordingly.
Under Credits And Deductions Before Split, you can add line items that apply to the gross commission for this split and will be shared between the agent and broker. To do so, click on the text in blue, “ There are no line items to display. Click here to add a line item.”
Upon doing so, you will see a line with various drop down menus and an empty text box populate which you can edit.
The drop down menu to the far left allows you to choose the line item as either a "Deduction" or "Credit".
The next drop down menu will allow you to choose the type of “Commission Line Item” (Note: If you do not see a "Commission Line Item" populate in your drop down menu, you can add additional options by going to; Set Up > User Fields > and click View next to Commission Line Item > + Add Item > Then type in the new Commission Line Item option you want > blue "Save" button).
The next drop down menu allows you to choose which Vendor from your Vendors CRM the item will be applied to.
If you are expressing the item as a "Dollar" amount, (which is the default option), then simply enter the "Dollar" amount in to the text box that is left of the Dollars drop down menu.
If you need to express the amount as a "% of Gross Commission" or "% of sale price" instead, click on the drop down menu farthest right and choose "% of Gross Commission", "% of sale price", or "% of Commission income" instead instead of Dollars. Upon doing so, you can then enter the % amount.
If you need to delete the line item, you can simply click on the Red “x” button.
You may optionally specify a memo for the line item by clicking on the Blue button to the right.
When clicked, an input should appear allowing you to enter the memo.
If you need to add additional line items, you can simply click on the green "+Add a line item".
For Agent Split, you can edit the percentage split that an agent shares with the Broker. If you enter 75%, that is the amount the Agent keeps. This is only configured by a manager.
For Broker's Fee, you can edit the flat amount that the brokerage is taking from the agents commission. The 250 goes to the broker here.
Under Credits And Deductions After Split, you can add line items that apply to the gross commission which applies directly to the agent's net income. To do so, click on the text in blue, “ There are no line items to display. Click here to add a line item.”
The drop down menu to the far left allows you to choose the line item as either a "Deduction" or "Credit".
The next drop d own menu will allow you to choose the type of “Commission Line Item” (Note: If you do not see a "Commission Line Item" populate in your drop down menu, you can add additional options by going to; Set Up > User Fields > and click View next to Commission Line Item > + Add Item > Then type in the new Commission Line Item option you want > blue "Save" button).
The next drop down menu allows you to choose which Vendor from your Vendors CRM the item will be applied to.
If you are expressing the item as a "Dollar" amount, (which is the default option), then simply enter the "Dollar" amount in to the text box that is left of the Dollars drop down menu.
If you need to express the amount as a %, you are able to use "% of Sale Price" "% of Commission Income" "% of Gross Commission" "% of Transaction Gross Commission" "% of Agent Commission".
If you need to delete the line item, you can simply click on the Red “x” button.
You may optionally specify a memo for the line item by clicking on the Blue button to the right.
When clicked, an input should appear allowing you to enter the memo.
If you need to add additional line items, you can simply click on the green "+Add a line item".
Then, press the blue "Save" button at the bottom of the page.
In the last section, Credits and Deductions Affecting Broker Net Income, you can enter line items that apply exclusively to the broker’s net income and are not shared with agents. Only managers and accountants can see this information highlighted by the red box.
To add a line item, click on the text in blue, “ There are no line items to display. Click here to add a line item.”
The drop down menu to the far left allows you to choose the line item as either a "Deduction" or "Credit".
The next drop down menu will allow you to choose the type of “Commission Line Item” (Note: If you do not see a "Commission Line Item" populate in your drop down menu, you can add additional options by going to; Set Up > User Fields > and click View next to Commission Line Item > + Add Item > Then type in the new Commission Line Item option you want > blue "Save" button).
The next drop down menu allows you to choose which Vendor from your Vendors CRM the item will be applied to.
In the next item, enter a "Dollar" amount, (which is the default option), then simply enter the "Dollar" amount in to the text box that is left of the Dollars drop down menu.
If you need to express the amount as a "% of Net Commission" or "% of sale price" instead, click on the drop down menu farthest right and choose "% of Net Commission" or "% of sale price" instead of "Dollars". Upon doing so, you can then enter the % amount.
You may optionally specify a memo for the line item by clicking on the Blue button to the right.
When clicked, an input should appear allowing you to enter the memo.
If you need to delete the line item, you can simply click on the Red “x” button.
If you need to add additional line items, you can simply click on the green "+Add a line item".
Please remember to scroll down and click the blue “Save” button at the bottom of the page.
The information in this tab differs from the saved information. This can be due to changes in the sales price, full-term rent, or the agents' commission plan. You are currently viewing the unsaved data. Save this tab to update the commission information.