Starting today Brokermint admins can now slice and dice commission data any way they want it!
Each real estate transaction (typically) has a handful of deductions such as the E&O fee, transaction fees, mentor or coaching fees, etc. At the end of the year, Brokers and office admins and managers want to learn more about these fees from their financial reports, like how much E&O they’ve collected year-to-date, or how much they paid their transaction coordinator. This type of information is powerful when running a thriving business as it helps your company know how best to utilize the budget.
With this in mind we added our latest feature, Commission Tags, to give our users a new level of visibility into their financial data. Via commission tags, Brokermint users can easily monitor all individual items, including income and deductions, without requesting for us to reconfigure the account!
- Use the custom tags feature to mark income & deductions
- Run reports by tag to see totals and filter to what you need to see
- Gain visibility into fee payments
- Generate a breakdown of all real estate transaction deductions
- Eliminate guesswork and know to the penny how much you paid and/or received
- See which customer/properties made the most money for your business each year
- Create a 1099 tag to monitor payments you want to report at the end of each year
Sounds great! How do I use the commission tags feature?
- Create a tag and assign it to any split or deduction
- Create as many tags as you need or assign multiple tags to a single item
- Un-assign tags you no longer need
- Run “Payments” report to access all tagged items
- Filter report by payer or payee or filter by date range, including predefined options (last month, last week, YTD, etc.)
- Automate the process by adding tags to commission templates
Want more details? Watch the video below.