How to setup and process a referral commission: KBA

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Article ID: 4134

Subject: How to setup and process a referral commission

Last Modified: June, 8, 2013

Applies to: Pro Gold i2 2.0, 3.0

Purpose: A referral commission earned typically results from the original commission closing and is processed as a unique transaction event.

Procedure: Setup/enter a property to process the commission

• Step 1: Open a new record and enter the Address One field:

- Recommend using following format: Ref: property address or name of referral company if address is unknown (e.g., Ref: Blue Sky Realty)

- Crest clients should use O/I category in Crest EDG which allows for address to be entered or none at all; when no address info is entered the Crest EDG import will populate the Crest Transaction ID as the address

• Step 2: Enter Sale Date, Projected Close date, Sale Price and Pending status:

- Sale Date will typically be the day you received the check

- Projected Close Date will be day you are going to process the transaction

- Sales Price is typically the amount of the check received

• Step 3: Enter property type as Other or Exempt if transaction does not count towards commission level:

- Re/Max clients must use Referral box near Property Type field in Properties Tab

• If checked, Volume and Units of this property are “not” included in the Frames Export file

• To be used when transaction is a referral commission only

• Step 4: Assign agent to side:

- Typically will be a buyer referral so use Selling Side for “all” events

• Step 5: Verify Gross Commission Amount on the Comm Tree Tab:

- Gross Comm Amount on the Comm Tree Tab will typically be the Sale Price entered (i.e., the

amount of the check received)

• Step 6: Verify the Side GCI:

- The Side GCI will be the Gross Comm Amount (you will have to manually override the default

calculation)

- Apply company deductions as necessary (Franchise clients may apply company level franchise

deductions)

- Select the Auto Calculate button to calculate the split

• Step 7: Go to Agent Tab and verify the split results

- Verify % (Can manually override percentage if the plan split does not apply to this transaction)

- Verify Units and Volume (zero out these parameters at this point if the transaction does not apply to production figures)

• Step 8: Process the commission:

- Return to Comm Tree Tab and select the Process Commissions button

- Complete as normal

References: Below is a link you can use to access Enhancement HelpNet Center resources, which includes the Knowledge Base Article (KBA) Library, Pro Gold i2 Documentation, and Training Webcasts:

http://secured.progoldi2.com

• The Enhancement HelpNet links are located on the right side of the web page.

Related articles: N/A

Keywords: Referral, Commission, Closing, Setup, 4134