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. Click [Admin/Settings] to access the Admin page.
2. Click "Commission Basis" from the Financials section of 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".