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Article ID: 4182
Subject: How to Setup and Use Contact (Prospect) Referral/Relocation Fees
Last Modified: January 13, 2009
Applies to: Pro Gold i2 3.0, 2.0
Issue: An outside referral occurs when a contact (prospect) is referred from another real estate office or relocation company and a percentage of the commission is paid to referring company/agent. When a referral/relocation contact (prospect) is tracked in Pro Gold i2, referral fees can be added to the contact (prospect). When the contact (prospect) is linked to a property, the referral fee will be automatically added to the transaction.
Resolution: Setup Referral Fees and assign them to referral/relocation contacts (prospects).
• Setup Referral Fee Deduction
- In the Properties Tab, select “Company Deductions”.
- Select “LS Professional Referral Fee” from the drop-down at the top of the screen.
• If “LS Professional Referral Fee” is not in the list, it can be added by selecting “New” at the bottom of the screen to create a new deduction.
- Make changes to the deduction (Name, Amount/Percent, GL Account, etc) that will be used when the deduction is taken on the Listing Side of a transaction.
• The “Vendor” field should be set to “Select Vendor” so that the appropriate company can be selected when the referral fee deduction is used.
- Select “SS Professional Referral Fee” from the drop-down at the top of the screen and make the changes that will be needed when the deduction is used on the Selling Side of a transaction.
- Click “Save” to save the changes that were made and “Done” to return to the Properties menu.
• Set the Referral Deduction as Default.
- In the Setup Tab, select “Change Company Info”.
- Select the “Default 2” tab.
- Set the “Default Seller Referral Deduction” to the “LS Professional Referral Fee” deduction.
- Set the “Default Buyer Referral Deduction” to the “SS Professional Referral Fee” deduction.
- Click “Save” to save the changes and “Done” to return to the Setup menu.
• Create a Referral/Relocation Contact (Prospect).
- In the Contacts (Prospects) Tab, select “Contact Manager Professional (Work with Prospects)”.
- Click “New” to add a new contact (prospect).
- Enter the contact (prospect) information and make sure to select “Relocation” as the “Origin” to classify the contact (prospect) as a referral/relocation contact (prospect). When the contact (prospect) is linked to a property, the referral fee will automatically be added to the transaction as a deduction.
- Select the “Referrals” button and fill out the “Referral Co.” and “%” fields. This information will be used to create the deduction.
• Link a Contact to a Property
- In the Properties Tab, select the “Work with Properties” icon.
- In the “Property Search” screen that appears, retrieve the desired property.
• Use the search options at the top of the screen to select what criteria to use in searching for a property.
• Type the criteria in the field at the bottom of the “Property Search” screen.
• Highlight the desired property and click “Retrieve”.
- Select the “Buyer/Seller” tab at the top of the property.
- Next to the “Salutation” field of both the “Buyer Information” and “Seller Information” areas is a binoculars icon. Select the binoculars icon next to the side that the contact (prospect) will appear as (IE: Buyer or Seller).
- The “Contact Search” screen will appear.
- Search for the contact (prospect) that will be linked to this property.
- Pro Gold i2 will ask “Do you wish to replace the current data with the data from the contact record?”. Click “Yes” to link the contact (prospect) to the property.
- The contact information will be added to the property record.
• To edit the contact (prospect) record, use the “Hands” icon next to the binoculars to access the contact (prospect) record in the Contacts (Prospects) Tab.
• Note: The referral fee will be added to the “Company Deductions” list in the Comm Tree Tab of the property when “Populate Commission Tree” is selected. The Vendor will be the Referral Co. that was selected in the contact record and the % that was entered is used to calculate the referral fee.
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:
• The Enhancement HelpNet links are located on the right side of the web page.
Related articles: N/A
Keywords: Referral, Relocation, Commission, Lead, Contact, Prospect, Setup Fee, Company Deduction, 4182