If you charge a flat fee in addition to percentage- based commission, you will need to adjust the total commission amount when you enter the deal in reZEN - or edit the commission amount after the transaction is created.
Please note:
- You must check with your State Broker to confirm this is allowed. It is not allowed in all States.
- Flat fee income is treated the same as any other commission income. It will be subject to the same splits and fees charged on other income.
How to enter - Buy Side
If you are representing the Buyer and need to pay a flat fee (e.g. MLS fee) to the List Side, you will need to enter the gross commission in reZEN as a flat dollar amount.
You can do this when entering the transaction or edit the transaction.
- Click Edit Transaction
- In the module that opens, click Edit Deal Information
- Toggle next to Sale Commission from % to $
- Then enter the commission less the fee (you will need to manually calculate)
- In this case, the total commission is $30,000 LESS $495 = $29,505
- Click Save in the bottom right corner.
That’s it! The deal will be updated to reflect the reduced commission, less the fee.
- If you are on a team, all splits/fees will be updated per the new commission amount.
How to enter - Listing Side
If you are representing the listing side and will receive the fee, you need to add it as additional commission on the deal:
- Click + Add Fees & Rebates on the transaction
-
In the module that opens:
- Enter additional commission as the fee type
-
Select who will receive the fee (you can only select one person; if you need to split the fee, you will need to manually calculate the amount and enter multiple fees).
- Example: If you are allocating $247.50 to Agent 1 and $247.50 to Agent 2, you will need to enter each entry separately as additional commission allocated to the appropriate agent.
- Enter the amount
- Type a description
- Click Save.
That’s it! You are done. The fee will appear under Additional Fees & Rebates in the transaction and the additional commission will be added to the appropriate participant’s side of the deal.