On certain transactions the commission amount may be based upon a value other than the sale price. This is where the commission basis feature comes in handy.
To set up a commission basis
1. Go to the Admin page by clicking [ADMIN/SETTINGS].
2. Click [COMMISSION BASIS] from the Financials section on the left menu.
3. Type the name of the commission basis you would like to set up.
4. Click [ADD COMMISSION BASIS].
Examples of commission basis
A few examples where the commission may be based upon a value other than the sale price might be:
- New construction transactions
- Transactions where you have a seller or buyer concession
Using Commission Basis when generating a CDA
Once you’ve set up your commission bases, they will be available to use when managing commissions. Here’s how it works:
- From the Manage Commissions page, click the "Commission Basis" dropdown menu.
- Select the commission basis you’d like to use.
- Input the amount the commission should be based upon.
- Click "Calculate & Continue".