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How do I pay my Debt Repayment or Active Debt in reZEN?

  • Updated

If your profile in reZEN is displaying a Debt on your account or on a transaction, this is due to one of the following: 

  1. Past Due Invoices for Board or MLS Fees
  2. Underpayment adjustment from a Closed transaction
  3. Garnishment or Legal Repayment
     

 Good to Know: 

  • What is reZEN Active Debt?
    • If you owe money to Real or another party, then Active Debt will be applied to your reZEN account to coordinate payment
    • Real uses Active Debt in reZEN to facilitate the payment of the money owed
    • Active Debt can occur if you have unpaid Board of Realtor/MLS Dues, underpaid Real's Splits/Fees on a closed transaction, or have a Garnishment or Legal Fees from another party.
       
  • How does it work?
    • If money is owed, reZEN Debt will be added to all of your active transactions in the system or any revenue share payments, until it is paid
    • The Active Debt will automatically be deducted and paid from the first transaction that closes out in the system or your next revenue share payment, whichever comes first
    • After the Debt is paid, the Debt will be removed from all your other active transactions and future revenue share payments in reZEN
       
  • Why does Real use reZEN Active Debt?
    • Moving invoices to reZEN Debt enables Agents to stay in good standing with the brokerage while unpaid invoices payments are coordinated through our internal systems
    • It also enables Real to track and monitor agent unpaid invoices efficiently

Debt FAQs:

  • Can I pay Active Debt in a different way?
    • No, once an Active Debt has been applied to your account, it can not be removed until it is paid through your next transaction that closes out in reZEN
       
  • How do I remove the Debt from my other transactions?
    • Once the reZEN Debt is paid, it will be removed from your other active transactions automatically
    • If any of your other transactions are closed out by the Commission Payer before the Debt is removed, the reZEN system will automatically correct this
    • Once your Debt is paid, you will be reimbursed for any duplicate Debt payments if they were applied to your Commission Documents - when the additional transactions are closed out in our system
       
  • I have already paid my Debt. How do I get this resolved?
    • If you have already paid your Invoice or Debt - please submit a Support ticket
    • The Support team can assist you with this request
       

  • How do I view my Active Debt? 

    You can view your Active Debt in your Dashboard and also in your Transactions in reZEN:
     

    • To view your active debt in your reZEN Dashboard:
      • Click on My Dashboard in the left side navigation in your Desktop computer
      • Click on the Overview tab
      • Then scroll down to the Debts section on the bottom of the page
      • Your active debts will display here - click on the View All button for additional details:

        Active Debt 1- done.png
         
      • When you click on the View All button, a summary of your Active Debts and a History of previous Debts will display:

        debts history.png

     

    • To view your Active Debt in your Transactions in reZEN:
      • Open your transaction
      • Click on the Details tab
      • Scroll down to Payment Participants
      • Under your name, click on the down arrow next to to Real
      • Your Active Debt will display as a Debt

        Active Debt 3- done.png
         
      • The Debt will be listed in your active transactions - here are examples of how the Debt will be displayed in the Details tab / Payment Participants section of your active transactions in reZEN:

        Debt 1.png
        MLS Fee REpayment.pngDebt 4.pngDebt 3.png

 

Past Due Invoices for Board or MLS Fees:

  • How it works:
    • If you have a Board of Realtors or MLS invoice that is not paid in Stripe by the invoice due date, it will be converted to Active Debt in reZEN
    • The Stripe invoice will be voided after the invoice due date, and the invoiced amount will be added to reZEN as Active Debt in your profile - the day after the due date on the Stripe invoice.
       
  • To resolve the Past Due Invoice:
    • This debt will be applied to your account profile as an Active Debt
    • The Debt will be added as a "MLS Fee Repayment" or "Debt Repayment" to all of your active transactions in the system

    • It will display in your active transactions in the Details tab / Payment Participants section in reZEN - here is an example of what it may look like:

      MLS Fee REpayment.png
      Debt 1.png

    • This Debt will be deducted from the next transaction that closes out in the system
    • Once the Debt is paid when your transaction is closed out, the debt will then be removed from all your other transactions in reZEN - automatically
       
  • If you have already paid the Invoice:
    • Please submit a Support ticket and provide a receipt of your paid invoice
    • The Support team will work with the Enablement and Finance teams to remove the debt from your account and your transactions
       

 

Underpayment Adjustment from a Closed Transaction:

  • How it works:
    • Real is collecting the difference between the commission document at closing and the previously approved commission document
    • If the Transactions Team needed to recalculate a commission before your transaction was closed out in the system - due to unpaid Real Splits and Fees, then an Underpayment Adjustment is applied and this is converted to Active Debt in your reZEN profile
    • This can occur if there were changes in Capping, Pre/Post Cap Equity Contributions, Debt Repayments, unpaid Personal Deal Fees, and other adjustments that needed to be applied to your account profile at the time the transaction was closed out in reZEN
       
  • To resolve the Underpayment Adjustment:
    • This debt will be applied to your account profile as an Active Debt
    • The Debt will be added as a "Debt Repayment" to all of your active transactions in the system
    • It will display in your active transactions in the Details tab / Payment Participants section in reZEN - here is an example of what it will look like:

      Debt 1.png
    • This Debt will be deducted from the next transaction that closes out in the system
    • Once the Debt is paid when your transaction is closed out, the debt will then be removed from all your other transactions in reZEN - automatically
       
  • If you have additional questions:

 

Garnishment or Legal Repayment

  • How it works:
    • If you have a Garnishment or Legal Repayment, it will be converted to Active Debt in reZEN
    • This can occur when a court orders a third party to withhold money from a person's wages or other assets to pay a debt they owe to a creditor. This process allows creditors to collect on debts such as: unpaid taxes, child support, or student loans.
  • To resolve the Garnishment or Legal Repayment:
    • This debt will be applied to your account profile as an Active Debt
    • The Debt will be added as a "Garnishment" or "Legal Repayment" to all of your active transactions in the system

    • It will display in your active transactions in the Details tab / Payment Participants section in reZEN - here is an example of what it may look like:

      Debt 4.png

      Debt 3.png

    • This Debt will be deducted from the next transaction that closes out in the system
    • If the Garnishment or Legal Repayment Debt exceeds the Commission payment, then the remainder of the Debt will be applied to your active transactions until the Debt is fully paid
    • Once the Debt is fully paid, the Debt will then be removed from all your other transactions in reZEN - automatically
       
  • If you have additional questions:

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