Congrats on that signed Purchase Agreement!
Now we need to get the deal into reZEN to manage the deal process.
You must enter the deal no later than 2 days after the agreement is signed.
If you are trying to enter a listing or refer a client to another brokerage, the process is a little different. Please check out the links below:
How to Enter your Deal in reZEN
It's easy to add your deals to reZEN (the Real App) - and once you enter your deal, the Road to Success & Checklist make it easy to manage the transaction process.
- Pro Tip: manage your deals on the go with the reZEN mobile app. Haven't downloaded reZEN on your phone? How to Install reZEN (Real's Mobile App)
- Enter Transaction Address
- Transaction Information, Price, Commission, and Dates
- Seller & Buyer Information
- Transaction Participants
- Other Side Representation
- Referrals
- Allocate Commission
- Personal Deal Option
- Fees, Rebates, Reimbursements, Additional Commission
- Where to Send Commission Document
- Review & Create
- Review & Adjust Team Split to Team Leader(s)
Get started by logging into reZEN, click My Transactions on the left side, then click + Create Transaction in the top right corner.
Step 1: Transaction Address
The system will walk you through a couple of steps. Start by entering the property address, year built, and MLS Number, then click Next.
Step 2: Transaction Information, Price, Commission, and Dates
Enter Deal Type, Sales Price, Property Type, Representation Type, Listing Commission, Sale Commission, Acceptance Date, and Closing Date. Then click Next.
**If you are the listing agent, you need to create a listing first.
See: How to Create a Listing - US / How to Create a Listing - Canada and Put a Listing Under Contract
Step 3: Seller & Buyer Information
Enter the Seller & Buyer Contact Information and click Next.
Step 4: Transaction Participants
Since this transaction is affiliated with a Team, select the Transaction Owner from the top dropdown.
The Transaction Owner should always reflect the “main” agent representing the client(s) on the transaction.
The Team dropdown section will be filled with the Team Name.
The Team Leaders for the Team will auto-populate here.
The Transaction Coordinator(s) connected to the Team and/or Agent will auto-populate here.
Co-Agents: Next, you can search for and add any other Co-Agents that are going to receive a portion of the commission on this transaction.
Lead Source: At the bottom, the agent can select the source of the lead (as long as the Team Leader/Team Manager has set these up within the Team settings first).
In our example below, Jane Team Member is the main agent on this transaction and is entered as the Transaction Owner. Anna Leader and Jordan Leader auto-populate, as does John Admin. We then manually added Charles Team Member as a Co-Agent since he will also receive a portion of the commission. You will designate the amount to each in future steps.
Note: Be sure to add other Real agents under the appropriate role:
- If the other agent referred the business to you, do not add the agent as a "Co-Agent." Wait and add them as a Referral in Step 6 below.
- If the other agent is co-representing the same side of a transaction, add them here under Co-Agents.
- **Note: If the existing Real agent is part of another Team at Real, please add them as an internal Real Referral under Step 6. This will allow them to pay a Team Split to their Team Leader, if applicable.
Step 5: Other Side Representation
If the other side is represented by a Real agent - select Real Agent, search in the dropdown, then click the agent's name. This will save you time and help our team process your transaction faster.
Otherwise, enter the information for the other side's brokerage, then click Next.
Step 6: Referrals
If you have a Referral for an existing Real agent or an external agent/company, or OpCity Referral, enter it here.
**Note: If the existing Real agent is part of another Team at Real, please add them here as a Real Referral.
Step 7: Allocate Commission
Only the Team Member(s) will show on this screen since the Team Leaders will auto-populate on the transaction once it is created (more on that in Step 12).
The total amount on this screen must add up to 100%. So the full GCI is allocated first to the Team Member(s) and then the Team Member(s) pay the Team Leader(s) from their portion(s).
Step 8: Personal Deal Option
If this is a personal deal, select Yes.
Otherwise, keep No and click Next.
Step 9: Fees, Rebates, Reimbursements, Additional Commission
If you have fees, rebates, reimbursements, enter them here.
Note: If the Team Leader(s) is not the Transaction Owner but is receiving additional commission, they will be unable to enter that here and will need to wait to enter it until after the transaction is created (see below).
If you miss this step or the fees change after the transaction is created, you can follow the steps in the "How to Enter Fees & Rebates" tutorial below:
Step 10: Where to Send Commission Document
Please indicate who will process the commission payment (typically Title / Escrow). You can select the person from the dropdown menu, enter their information, then click Next.
Step 11: Review & Create
Review all the information, then click Create Transaction.
Step 12: Review & Adjust Team Split to Team Leader(s)
Now that the transaction is created, you will see the ProTeam Leader(s) have auto-populated into the transaction. The amount that is allotted to them is determined by the Team Split Default Setting per Team Member.
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This can be manually adjusted by clicking the Edit button under each Team Member's Payment Participant card and then editing the Team Settings for the transaction in the module that opens on the right.
**See also: How do I adjust ProTeam Transactions?
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That's it! You are done. Once you've entered the transaction in reZEN, go to Step 2: Upload Transaction Documents
Need to make a change? View the resources below:
For additional assistance, please contact Teams@therealbrokerage.com
If you are entering a lease transaction, you can find additional information about how to enter the transaction here: How to Create a Lease Transaction