When you enter a deal in reZEN, you will see a question asking if this is a personal deal. If you, your Spouse, or an entity controlled by you or your Spouse are on either side of the transaction, you may select Yes for this question. This will mark the transaction as a Personal Deal and apply a $250 personal deal fee on the transaction instead of the Split to Real.
- What is a personal deal?
- How to enter a personal deal.
- How to change a deal to a personal deal.
- How to adjust a personal deal if you are not collecting commission
How to enter a personal deal:
Step 1: Login to reZEN. Click Create Transaction and go through the normal process to Enter a Deal in reZEN. If you need help:
Step 2: When you arrive to the question "Is this a personal deal..." select Yes.
Step 3: Click Details on the transaction and scroll down to the Payment Participants section. Click to expand the fees next to Real. Here you will notice instead of the 15% Split to Real, the $250 Personal Deal fee was applied.
- Note: other fees will still be applied as normal. For example, if this is one of your first three transactions, the Brokerage Fee is still applied.
If you are collecting a commission (e.g. you are purchasing the property), no further action is needed. If you are not collecting commission on this deal (e.g. you are listing the property), please go to the next step - How to adjust a Personal Deal if you are not collecting commission:
How to adjust a personal deal if you are not collecting commission:
Step 1: Take note of all fees to Real on the deal. Even on a personal deal, you still need to cover all the fees to Real. Write down (or remember) the total fees to Real.
Step 2: Click Edit Transaction. This will open a module.
Step 3: Click Deal Information. The module will update.
Step 4: Toggle off the Sale Commission (so it's no longer percentage based). Enter the total fees to Real as the commission for your side. Then, click Save.
- $530 covers the $250 Personal Deal Fee + $250 Brokerage Fee + $30 BEOP Fee
- If you already paid the Annual Brokerage Fee, $280 will cover the $250 Personal Deal Fee + $30 BEOP Fee.
That's it! You're done. Return to the Details section of the transaction and scroll down to Payment Participants. Now, you will see the total commission is equal to the total fees paid to Real, resulting in a net payout of $0.