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Commission & Reporting Module Updates

May 16, 2018:

  • View Transaction Gross Commission and Franchise Fee on Agent Income Report: The Agent Income Report now includes Transaction Gross Commission and Franchise Fee amounts, allowing you to see the total commission produced by the agent before the franchise fee has been deducted.
April 1, 2018:
  • Receive assistance with multi-tier commission splits: When entering commission information for a transaction, you will receive a warning if any agent is about to surpass their commission split threshold and needs to be processed on multiple tiers of splits. 

  • Look up agents' year-to-date and previous month's commission figures:Admins can access agents' YTD and previous month's commission figures directly from the Reports section. Agents will continue to receive their YTD and previous month's commission figures monthly by email for offices that have turned on that setting.

  • View in-house referral commissions during CDA generation: An agent's in-house referral commission figures will now be included in the YTD totals box displayed on the right hand side during CDA generation.

  • Plus dozens of little fixes and improvements.
  • Visit the blog for more details →

October 8, 2017:

  • Drill down Commission Summary data: Click figures on the Commission Summary report to see the Pending or Closed Transactions that were used to calculate those figures.

  • And scores of small improvements.

June 29, 2017:

  • Filter the Pending Commissions Report by acceptance date.

  • Commission Disbursement Authorizations and Financial Info now saved within monthly backups and downloaded transactions: Monthly backups and downloaded transactions will now include CDAs and all other financial info.

  • And many small improvements.

April 2, 2017:

  • Agents can receive a monthly commission report that summarizes their year-to-date and last month's production numbers: Turn this feature on or off from the Admin Settings page using the checkbox "Email monthly production summary to agents".
  • Generate reports based on any date range: From a report's "period" drop-down list, select the option "Custom Date Range", then specify the desired start and end dates.

  • Search transactions based on whether they have commission data entered or not: From the Transaction's page, go to the Advanced Search section and use the new "Commissions" filter.
  • The "Generate CDA" option has been renamed to Manage/Update Commissions: How you enter a transaction's commission data hasn't changed. Just the menu option now appears as either Manage Commissions or Update Commissions.
  • Rename franchise fee to match your company's naming conventions: If your office pays a franchise fee but calls it by a different name, now you can specify that name.

December 26, 2016:

  • View Year-To-Date production numbers for agents when generating CDA: Calendar years as well as years based on the agent's start date are both supported.

  • When generating CDA, jump to an agent's Edit User page to update their commission notes, splits and other data conveniently.

  • And a few general improvements.

December 12, 2016:

  • Download PDF financial statement for in-house deduction recipient: When an in-house user now receives a deduction on a transaction, you can download their financial statement as PDF from that transaction.
  • See "Brokerage's Commission" on Agent Production Report.
  • And several general improvements.

November 13, 2016:

  • Disburse in-house deductions to transaction's agents: Now a transaction's agent can pay another agent on the same transaction from her own commission. Previously, in-house deduction could not be paid to the transaction's own agents.

  • View Commission Notes and Agent Start Dates in the downloadable User List.

  • And several general enhancements.

September 6, 2016:

  • Disburse payments deducted from a transaction's agent to an in-house agent: Now you can use an in-house deduction to pay from the brokerage or the agent to any other in-house agent, assistant, or TC who is a part of your company. Watch this quick video to see this feature in action >>

  • View a breakdown of fees on financial reports: Previously you could only see the total fees charged to agents. Now you can see each individual fees as separate columns.

  • And several general enhancements.

August 2, 2016:

  • Calculate agent / brokerage commission split as a dollar amount: Previously, you could only specify this split as a percentage. Now you can choose each agent's split with brokerage as a dollar amount or a percentage. Watch this 90-second video to learn how this works >>

July 3, 2016:

The revamped CDA generation feature now allows you to:
    • Specify listing and selling commission disbursements separately.

    • Calculate multi-agent commission splits automatically: Say goodbye to your calculator.

    • Allocate units and sales volume accurately for each side of a transaction.

June 14, 2016

  • New Agent Production Report: See pending and closed transaction stats for all agents. To rank agents by a stat, just sort the downloaded report by that column in your spreadsheet software.

  • View transaction commission notes on Generate CDA page: Now during CDA creation, you can view as a "sticky note" the commission notes that agents or staff have added to a transaction.

May 15, 2016

  • Mark users as assistants on a transaction so they don't show up on commission reports for that transaction: See details here >>
  • Specify a custom commission basis when the payable commission is based on a number other than the sales price: See details here >>

  • Track sales volume and close date on the Agent Units Report.

  • Track total closed units on the Aggregate Performance Report.

April 13, 2016

  • Distribute commissions to in-company (in-house) referrers: Now, during CDA creation, you can distribute commission to an in-house referring agent without assigning that person as an agent on the transaction. In-house referrers may also be charged fees and their commission amount shared with the brokerage.
  • View referral contact info during CDA creation: Just add the referring agent as a transaction contact with the role "Referrer". Now when you create a CDA, this referrer's information will be displayed in the appropriate step.

March 6, 2016

  • Regenerate a CDA: You can now Regenerate a CDA without having to re-enter data that was previously entered.

  • Download a Pending Commissions Report:  See how much commission and fees your company will collect on all scheduled closings over the next 30, 60, and 90 days.

February 14, 2016

  • Download a Financial Info doc for accounting: Transactions for which you've generated a CDA now include a downloadable Financial Info doc that gives a line-by-line breakdown of numbers for your accounting system.

  • The Generate CDA page has been simplified: Enter and account for money coming in from transactions like BPO's and incoming referral commission.

  • Agents can now see their total year-to-date sales volume and total commission received: Just download the Agent Commission Statement found within an agent’s transactions.

  • “Attorney” roles auto-populate on CDA: If a Contact in the transaction contains the role "Attorney" that contact will auto-populate into step 1 of the Generate CDA page.

  • Agent commission split statement is displayed: The agent commission split is now displayed on the Downloadable Agent Commission Statement found within transactions.

  • The Agent Income Report now tracks the agent's sales volume:  If an agent is on one side of a transaction her sales volume equals the sales price. If an agent is on both sides of a transaction her sales volume equals sales price x 2. The sales volume an agent is credited with is not affected if there is another (or multiple) agents on the same side of their transaction.  In other words, sales volume is independent of number of agents on either side of the transaction. Each agent's sales volume on a given transaction is equal to the sales price of that transaction. If an agent is on both sides of the transaction, then her sales volume equal sales price x 2.

January 31, 2016

  • Hold earnest money deposit at closing: Turn this option on from the CDA settings page and deduct an earnest money deposit from your company's share of the commission on any transaction.

  • Search for transactions that don't have a CDA: Do this by clicking in the Global Search bar and then select "Has no CDA".

  • A column for Charitable Contribution was added to the units closed report.

  • “Settlement” contacts auto-populate on CDA: If a Contact in the transaction contains the role "Settlement* that contact will auto-populate into step 1 of the Generate CDA page.

January 11, 2016

  • Units closed report: This new report tracks the number of units your agents have closed.

  • Track detailed commission splits and individual agent fees: The new "Commission Notes" field on agent user profiles is a great place to track detailed commission splits, unique agent fees, and other financials that are unique to each agent.

  • Pay commissions to an agent's company: A new "Payable to" field on your each user profile allows you to pay commissions to an agent's company.

  • Total Agent Fees added to Commission Summaries: A new row has been added to the Commission summary report for tracking total Agent Fees paid to your brokerage

December 19 & November 21, 2015

  • Account for buyer and seller fees: If your agent or brokerage collects a transaction fee from buyers or sellers, you can now customize client fees and add them to any CDA.

  • Download a printable Agent Commission Statement from any transaction that has a CDA:  The Agent Commission Statement shows a line-by-line summary of how the agent's commission was calculated.  

  • Track agent fees and client fees: You can now track agent and client fees in the broker section of the Aggregate Performance Report.

  • Transaction label filters: Add transaction label as a filter to the commissions and closings report page AND filter for transaction Sides.

  • Add a START DATE for each agent: User profiles now include a start date field.

November 8, 2015

  • Deduct 3rd party payables right from an agent or brokerage’s commission: If your agent or brokerage is contributing a portion of their commission to a 3rd party (such as client rebate, charitable contribution, or home warranty), you can now account for these deductions.

September 27, 2015

  • Franchise fees: If your company pays franchise fees, you can now setup franchise fees as a dollar amount or % on the CDA settings page for each office location.

  • View all fees collected by your company: Accessible in the financial info section of transactions for which a CDA has been generated.

  • Track referring brokerage commission in the financial info area of transactions: Located under the financials section of a transaction’'s view, show each referrer's name along with their address and net amount.

  • Know what franchise fees to pay: See how much franchise fees your company owes by downloading the Commission & Closings Report.

August 23, 2015

  • View all agent splits: The Manage Users page now includes a column for agent split.  Quickly see which agents have been setup on a split and which ones haven't.

  • Update all agent commission splits with a single upload: Send us your Pipeline user list and include a column for commission split.  We'll upload the spreadsheet and update all agent commissions splits for you.

  • Filter the Commission & Closings report by transaction label.

  • Update agent commission splits with Enter Financial Data permission: Staff with the *Enter Financial Data permission* can now edit / update agent commission splits and update CDA settings for their office location.

July 28, 2015

  • See which office CDA settings have been configured for: On the manage locations page see which offices you've configured CDA settings for and which offices you haven't.

  • Commission summary display changes: The commission summary (which is pulled from the transaction) is now displayed in parenthesis above the commission % field on the Generate CDA page.

  • Instruct escrow to send referral commission directly to the referring brokerage: This allows having all remaining commission sent to your company.

  • Add cooperating brokerage to CDA's: On the Generate CDA Page you can now enter the cooperating selling brokerage and the amount of commission they should receive.

  • Update special instructions for any CDA: Special instructions for your CDA's can now be updated or changed for any transaction.

  • Additional CDA Improvements: CDA's now include agent's name, office affiliation, and commission percentage being paid to your brokerage

Commission Module V 1.0 - Launch Day - June 2015

  • Aggregate Performance report: Track number of closings, commissions earned, and your top producing agents.

  • Commission and Closings Report: This report shows you which transactions closed along with the sales volume, commissions & fees for those transactions.

  • Disburse commission direct to your agent: Customize the Generate Commission Disbursement Authorization page so that the CDA instructs the closing company to cut a check direct to your agent.

  • Generate a CDA: The Generate CDA page allows you to create a CDA in less than a minute.

  • Agent Income Report: This report (which can be downloaded for any agent in your company) shows the agent's closed transactions, sales volume, and commissions received.

  • Agent Commission Statement: Download a report from any transaction that shows you how the agent's commission was calculated along with her year-to-date sales volume and commissions received.

  • Commission Summary Report: Get a quick snapshot of your company's closed and pending transaction revenues.

  • See all CDA's requiring review: You can see all of the CDA’s that need to be reviewed right from the Unreviewed page.