Agents on split-check transactions experience a slightly different setup for their Tax Planning Account compared to single-check agents. While 95% of the process is the same, the remaining differences are important to understand. This article breaks it down for you.
What is a Split-Check Agent?
- A split-check agent is paid directly at the closing table by the title company. This means:
Commission payments go directly to the agent. - Funds are not routed through Real before reaching the agent.
Key Differences for Split-Check Agents
Tax Planning Account Setup
When a split-check agent creates a Tax Planning Account, they’ll see only one account available under the Commissions section.
- Single-check agents can choose between accounts.
- Split-check agents will only see the Tax Planning Account, since Real doesn’t handle the commission deposit directly.
How Transactions Appear
If you’re a split-check agent and you’ve opted into the Tax Planning Account:
- You'll see a ledger entry labeled “Tax Planning Deposit.”
- This entry represents Real reserving a portion of your commission to help you save for taxes.
If you’re a single-check agent and you’ve opted into the Tax Planning Account:
- You will not see a ledger entry for the Tax Planning account contribution, as the earnings are sent to Real, and Real will distribute your contribution to your Tax Planning Account.
Commission Flow Breakdown
Here's how commission is split:
| Recipient | Amount |
| You (Agent) | Paid at the table directly |
| Real | Receives the reserved tax amount |
- The tax planning amount is deducted from your total commission split.
- This reserved amount is paid to Real and deposited into your Tax Planning Account.
You'll also see this breakdown reflected in your commission reports and closing disclosures (CDs).
Can I access Real Wallet Capital with just a Tax Planning account?
No, split check agents are not able to access Real Wallet Capital. It is required to have a Real Wallet Business checking account to access Real Wallet Capital.
If further assistance is needed, please reach out to wallet@therealbrokerage.com.
The Real Brokerage is a real estate technology company and is not an FDIC-insured bank. Banking services provided by Thread Bank, Member FDIC. FDIC Insurance available for funds on deposit through Thread Bank, Member FDIC. FDIC deposit insurance covers the failure of an insured bank. The Real Wallet Visa debit card is issued by Thread Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used anywhere Visa cards are accepted. Certain conditions must be satisfied for pass-through deposit insurance coverage to apply.
Your deposits qualify for up to $3,000,000 in FDIC insurance coverage when Thread Bank places them at program banks in its deposit sweep program. Your deposits at each program bank become eligible for FDIC insurance up to $250,000, inclusive of any other deposits you may already hold at the bank in the same ownership capacity. You can access the terms and conditions of the sweep program at https://thread.bank/sweep-disclosure/ and a list of program banks at https://thread.bank/program-banks/. Please contact customerservice@thread.bank with questions on the sweep program. Pass-through insurance coverage is subject to conditions.