How to Setup Transaction Fees Collected from Agents

How to Setup Transaction Fees Collected from Agents

If transaction fees are collected from the seller and buyer in addition to the commission, it is often the case that the agent has to pay the fees if they do not collect them from the seller or buyer.

A very typical use case is that the office has some fixed amount the agents should collect (this may vary per agent) and the agent is only charged if the amount they collected is less than the minimum determined by the office.

To setup this deduction rule, follow these simple steps:

  1. Go to People menu
  2. On the People basics screen, click search
  1. Filter the type to Agent
  2. Enter a portion of the agent's name
  3. Click search; or hit enter from your keyboard
  4. Click on the person name hyperlink

Set up the agent's commission profile.

  1. Go to the Commission submenu
  2. On the table, enter the minimum amount to collect on the agent profile on the amount column

The next step is to set up the deduction rule. To set up a rule:

  1. Click Formulas menu
  2. Click Deduction rules submenu
  3. Select the deduction type
  4. Click new
  1. Click next
  1. Enter the name of the deduction rule
  2. Adjust the sort order as needed
  3. Click next
  1. Select which side this deduction rule applies to
  2. Click next
  1. Select which commission plan or subplan this deduction rule applies to
  2. Click next
  1. Select which commission subplan based on sides this deduction rule applies to
  2. Click next
  1. Select which transaction types this deduction rule applies to
  2. Select the accounting code this deduction rule applies to
  3. Click next
  1. Select whether if the deduction rule is for agent generated, office generated, or unknown
  2. Select which seller source this deduction rule applies to
  3. Click next
  1. Select which offices this deduction applies to
  2. Click next
  1. Enter the advanced criteria as needed
  2. Click next
  1. Select the formula type
  2. Click next
  1. Set the percentage to 1 (which means 100%)
  2. Set the formula as: [Agent profile - Coordinator ($)] - [TransFee List]
  3. Click next
  1. Select the CAP deduction basis of the rule as needed
  2. Click finish

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