Enter the necessary data as described below:
Name The unique label you assign this commission rule. (ex. 5eq%)
**The label you assign cannot be used more than once.
Description A brief description of the residential commission rule. (ex. Selling 2.5%, Buying 2.5%)
Up to & = Four different levels of property sale prices allow for more complex commission rules.
Selling The percentage of commission owed to the Selling Broker for each of the levels of the residential commission rule.
Buying The percentage of commission owed to the Buying Broker for each of the levels of the residential commission rule.
Other Income (Shared) – This would represent any additional money collected through a transaction above and beyond the gross commission, example transaction fee or admin fee charged to the buyer or seller on the transaction, which is then shared with the broker and agent according to their commission split.
Other Income (Unshared)- Same as above additional money coming in above the gross commission however unshared means that dollar amount will stay with the Brokerage and not shared with the agent. Be sure to click the box to enable the other income shared.
MLS/Transaction Fee Rule Click the Look up button to select the MLS/ Transaction Fee rule, if applicable, to be used for this residential commission rule.
Click on the save icon when all the information has been entered.
Editing/Deleting a Residential Commission Rule
Select Commission Rules > Residential from the Set up menu, highlight the residential commission rule you wish to change in the database box and double click on it. Click Edit icon make the necessary changes and click the Save icon.
To delete the Residential Commission Rule, highlight the Rule and click Delete icon. A warning pops up to confirm. Click OK to accept the deletion, otherwise select cancel.