Need to pay someone associated with an upcoming transaction? Common examples include: referrals, team leads, team members, co-agents. Read this article to learn how to do it correctly.
- How to Enter A Payment Participant (team lead, referral, co-agent)
- Already Sent a Commission Document?
You can add someone to a deal in 30 seconds - check out this video or keep reading for details!
Step-by-Step Instructions
Step 1: Login to reZEN. Then click My Transactions on the left side. You will see your list of active transactions. Click on the view (eye icon) to the left of the transaction you want to edit.
Step 2: As you can see, there is only one payment participant at this time. Click Adjust Commission (%) / splits.
Step 3: Click + Add Participant in the module that opens.
What's a payment participant? It's someone who is participating in the transaction commission. The most common example is a team lead/member, co-agent, or referral.
It is the agent's responsibility to ensure only legally licensed individuals are to be paid.
Step 4: In most cases, you will add a Real Agent to your deal. Click Real Agent and search for the person you want to add.
If you are adding an external participant (someone outside Real who need to be paid on the deal), you will need to enter their information, EIN, and upload a copy of their firm's W9 so we can authenticate the participant and pay them.
Under Role:
- Team Leader: this is obvious, but it's your team leader! The default team member / team lead will be applied by default, but you can always adjust this later.
- Team Member: if you are working with another team member on a deal, select this option. Fees are split proportionally across team members.
- Referral: select this option if you are referring business to another Real agent and want to pay them on the deal. More here: How do I refer business to another Real Agent?
- Transaction Coordinator: if you pay a transaction coordinator, admin, or operations person on a per-deal basis, you can add them to the deal here. Note: this is only permissible in some states.
- Buyer, Seller, or Other Agent: typically added as the other side of the deal.
Step 5: Enter the commission splits according to your deal structure. This must add to 100% of the total commission. If you are paying a fixed dollar amount, you can click the toggle to enter a dollar amount instead.
You now have two payment participants with the proper splits and you can complete and send your CDA.
That's it! You're done.
If you already sent your Commission Document,
you will need to re-send it (now that the splits have been updated). You will notice the top right corner now says Needs Commission Validation. Click Approve Commission Calculation to approve the new split, then Send Commission Calculation to re-send the document.