Step 3: Calculate & Approve Commission

Once you enter your deal in reZEN, you must review the transaction to make sure everyone who needs to be paid is listed & approve the commission calculation. For best results, approve your commission once all financial terms are confirmed (i.e. after inspections and all negotiations are finalized). 

You can approve your commission in 30 seconds - watch the video below - or keep reading for more details:

Contents:

• When to Approve Commission Calculation?
• How Do I Calculate & Approve the Commission?

See also: How do I edit the Commission Calculation after I Approve it?

When to Approve Commission Calculation:

• Have you already entered your deal in reZEN? If not, see Step 1: Enter your deal in reZEN.
• Confirm all financial terms are finalized. This is the step where you will finalize the commission payment. Once you complete this step, you will need to Edit and Regenerate the CDA if anything changes. Learn more: How to Edit Commission Calculations & Re-Send a Commission Document

If you see this status on your transaction, you need to approve your commission calculation:

How do I calculate & approve the commission?

This is all a fancy way of saying: make sure everyone who should be paid on the deal is listed on the deal. For each deal, you should check three things:

1. Confirm everyone who should be paid is listed on the deal and the splits are correct
2. Confirm all fees, rebates, and reimbursements are entered.
3. Confirm your net payout is correct. 

Check #1: Confirm all splits are correct

In most cases, you already entered this information when you entered the deal in reZEN. If you need to make an update, click below for step-by-step instructions:

• Make sure all co-agents, team members, and team leads are listed with the correct split. How to add a co-agent, team member, or team lead.
• If you need to pay a referral, it should appear here. See: how to pay an agent for a referral.
• If you need to pay OpCity / Referral Central, add them here. How to add OpCity / Referral Central to a Deal in reZEN

Check #2: Confirm all fees, rebates, and reimbursements are entered.

Enter any transaction coordinator fees, rebates, reimbursements, and additional commission amounts need to be entered here. See: how to enter additional fees & rebates.

Check #3: Confirm your net payout is correct.

Check your net payout and make sure it looks correct. If you have any questions, please reach out to support@therealbrokerage.com so we can help you understand the fees.

If everything looks correct, you can click Approve Commission Calculation.

• PRO TIP: Wait until all financial terms are finalized to Approve the Commission Calculation. Typically, this is after inspection. If anything changes after you approve, you will need to Edit your Commission Calculation and reapprove.

Once your commission is approved, go to Step 4: Broker Approval.