April Update: These Commission Management Tools are Game Changers!
One thing that is constant at Brokermint is our endless pursuit of creating better ways to run your real estate business and achieve enhanced efficiency, accuracy, and reporting. With these seven new Commission Management updates, you can start to improve how you manage commission splits today! Below is a brief run down on each update and how they can be game-changers in your business!
Override (Pro-rated) Sales Volume
Tracking sales volume is important, right? With a team or multiple agents on the same deal, you need the ability to either split the sales volume or assign credit to one agent only. With the new update you can either auto-calculate sales volume or override it any way you need. This tool is invaluable to brokers and agents – enabling more accurate reports showing pro-rated split sales volume.
Team Commission Plans
Now it’s possible to create teams in the system and track team commissions. Once you set up your team, and assign quota, you can now apply a sliding scale commission structure. The sliding scale option tracks commissions for the team and, when a team member closes a deal, it can be attributed to team quota. Go team!
Pro-rated Agent Deductions
When it comes to splitting agent fees, we have made it easier for you. If you have multiple agents on the same deal and they have to pay a fee, for example a transaction fee, the system can automatically split amount between agents based on their award allocation. Useful, right?
Min/Max for Deductions
Good news! We’re extending ways to track deductions by setting limits to cap deductions. From now on, when you deduct money from your agents, the Min/Max functionality allows you to manage deductions by establishing caps or other limitations.
Sliding Scale: Based on Acceptance Date or Month to Date
We’re developing new ways to calculate commissions! With the sliding scale, you can now calculate commission by month of the Acceptance Date, which creates a process to track deals under contract. Additionally, Month to Date allows you to track how many deals you closed this month. Then, the system automatically resets the counter of deals each month. Sweet!
Commission Statement: Save to Unsorted
Everyone relies on reporting, and we just made it better! With commission statements, you can now Save to Unsorted, which allows the file to be saved to the system so you can take further action on it, including signing, attaching to your checklist, or emailing to an agent.
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