Agent and Manager Commission Plans
An agent and manager commission plan has additional fields to enter the manager’s commission split on the agent’s deal. The manager earns a net commission on every deal that is closed by his reporting agent. In this example, the agent receives 70% of the deal, the manager receives 10% of the deal, and the brokerage receives 20% of the deal.
The basic steps are: create a plan > enter the plan details > add the split levels > add members to the plan.
Click on the down arrow next to the Commission Plans tab and click New Commission Plan.
2. Select “Agent and Manager Commissions” and click Continue.
3. Enter the structure for the Commission Plan:
- Commission Plan Name: Enter a Plan Name (i.e. ‘Senior Manager’).
- Record Type: Leave the as “Standard Commission Plan”.
- Calculate Splits: Choose when the net commission should be calculated:
Received – Calculate Splits when payment is received and allocated to agent’s gross commission.
Booked – Calculate Splits when a deal is booked and corresponding invoice is created.
- Calculate Commissions For: Select the record types for which this commission plan applies to. In order to create two different plans for sale and lease, create a plan for Specific Record Types and include Sale and create another plan with Specific Record Types and include Lease. If you have one commission plan that applies for all deals, simply select All Closed Deals.
- For the Period: the period for which the broker split is calculated. Plan start to end date calculates the splits based on the range you specify. The default is Year to Date.
4. Click on Add Split link to add a split.
- Manager Split
- Agent Split
- Gross Commission To (Recommend to leave it as blank for the last split level)
- Gross Commission From (Recommend to leave it as 0 for the first split level)
- As you add rows to add splits, the From value will default to the previous level’s To: value. You do not need to change this value to add the penny (i.e. $50,000.01 in the example).
5. Click Add Member link to add a members to the plan. Select the appropriate users and
then click Add Agents.
6. Enter Member information
- Previous Gross Commissions - used in calculating the net commissions
- Date for Previous Gross Commissions
- Plan Start
- Plan End - leave it blank if the plan applies forever
Note: If a new agent starts in the middle of the year, you can add the agent to a new plan with a start date and end date and add them to another plan in the beginning of the next year.
7. Click Save.