Transactions can have many payment participants and inputting them is very easy to complete.
Log in either to your app or to the desktop version. This demonstration uses the desktop version at bolt.therealbrokerage.com. You will log in using the same email and password you use on the app on your phone.
When you log in, you come right into the transactions page. Find the transaction you are adding the payment participant to and click on the blue eye to the left of the transaction.
As you can see, there is only one payment participant at this time. You will need to edit this section to include other participants.
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- For example, if you need to change the sales price on the transaction, your commission amount, or add a fee that was not included when you originally generated the Commission Document.
Please make sure you see "Needs Commission Validation" in the upper right-hand corner before making a change to the transaction. This means you are ready to go ahead and make changes to that commission document.
How to add payment participants
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 a referral.
Scroll down and click on manage participants.
This will open up the add participant box. Click Add Participant.
You will come into a form that needs to be filled out completely for the participant you are adding. We are going to use Referral as the participant that we are adding.
Choose the appropriate role for your participant. In this case, we will choose Referral.
Complete this form with all the pertinent information and click save.
A new window will open to show your commission splits. It defaults to you at 100% and the participant and 0%. The payment participant you added is still at zero. So what you want to do is go in and edit them so the commission is correctly split. You can do a percentage or use the toggle switch to change it to a flat rate split. The totals must always equal 100% of your total commission.
Once your splits are set, click Update.
You now have two payment participants with the proper splits.
If you have additional questions, please watch this video.
You may also reach out to the support team if you need assistance by emailing us at supportCAD@therealbrokerage.com.