Setting the Base Commission Format
You can express the Commission Income in either Dollars or Percentages:
- By default, it is set to Dollars.
- To switch to Percentage, use the dropdown menu next to "Commission Income."
Once you've selected your preferred format:
- Enter the appropriate dollar amount or percentage in the text box under "Gross Commission Income."
Applying Credits and Deductions: This field appears in multiple places on the Base Commission tab:
Affecting Gross Income
Before/After Split
Affecting Broker Net Income
Under Credits and Deductions Affecting Gross Income, you can add line items that apply to the gross commission, which will be shared with agents participating in the transaction.
Adding a Line Item:
- Click on the blue text:
- "There are no line items to display. Click here to add a line item."
- Enter the details of the line item as needed.
Upon clicking the link, a new line will appear with various dropdown menus and an empty text box that you can edit to enter the necessary details.
The dropdown menu on the far left allows you to select the line item type as either a "Deduction" or "Credit."
This selection determines whether the amount will be deducted from or credited to the transaction.
You may optionally specify a memo for the line item by clicking on the Memo Icon to the right.
If you must delete the line item, click the three dots and select Remove.
If you need to add additional line items, you can click “+Add Line”.
If you are co-representing a party in a transaction, you can adjust the Commission Splits shared between you and the other agent(s).
Before modifying the split percentage, ensure all collaborating agent(s) have been added to the transaction's People tab.
Managers can view all agents, while agents can only see their information within the box.
After confirming that all co-representing agents have been added to the transaction, simply click "Edit Splits" to make changes.
At this stage, you'll select whether to split the gross commission among agents using a Percentage or Flat Amount.
Enter the appropriate split for each agent in the text box next to their name.
After entering the percentages or flat amounts, click the blue "Submit" button to apply the changes.
Note: When editing Credits and Deductions Before and/or After the Split and the Split with the Broker, you can customize this information for each agent.
To edit the appropriate information for each agent, click on the Agent Name and edit the particular information accordingly.
Please scroll down and click the blue “Save” button at the bottom of the page.