Some transactions have different fees, rebates, additional commissions, reimbursements, etc. These need to be added before you approve your commission calculation to make sure everyone is paid correctly.
If you need to enter a referral or commission split to a co-agent, team member, or team lead, the process is a little different. So check out:
For all other types of fees, here is some guidance:
|Fee Type||When to Use||What happens:|
|Payment Participant||To pay part of the gross commission income.
||The gross commission will be split according to the % or $ amount you enter.|
|Rebate||You pay money to the buyer or seller at closing out of your commission. This will appear as a credit on the settlement statement.
||This will be deducted from your gross commission and the buyer will receive a credit (discount to purchase price) and/or the seller will receive a credit (additional funds due at closing).|
|Unlicensed Assistant (Called Transaction Coordinator in reZEN)||
You pay an unlicensed assistant
Always confirm you are paying transaction coordinators in accordance regulations.
This will be subtracted from the net commission income of the agent.
This means that first the split or post cap fee to Real will be deducted, and then the amount to the transaction coordinator will be paid out by Real.
How to enter fees in reZEN:
Login to reZEN
Go to My transactions > and click the transaction you need to edit.
Scroll down to the Additional Fees & Rebates section and click + Add Fees & Rebates.
This will open a popup. A couple notes:
- Fee Type: Reference the guidance above - Fee Types, Rebates & Additional Commission
- Participant: Select the person who will pay the fee or receive the rebate / commission
- Amount: Amount of fee / rebate
- Description: Explain the purpose of this entry. If it's an admin / transaction coordinator, please provide the name.
Click Save when you are done
Your fee or rebate will be listed in the Additional Fees & Rebates section:
Once you have completed inputting your Additional Fees & Rebates, you can again approve, generate and send your CDA.
If you need any help, reach out to email@example.com.