To set up a closed transaction commission plan, start by going to Settings > Commission Plans on the side menu. Click the Add Plan button.

  1. Give your plan a name.

  2. Select whether this plan is active or not. You can turn old plans off but leave them in the system by selecting Inactive.

  3. Select Closed Transactions from the Type of Plan drop down.

4. Select a rollover date for this plan. The rollover date is when this plan will reset and the agent will start over from the beginning. 

If you choose Start date, the plan will reset on the anniversary of the agent's start date (the start date for each agent can be entered into their Agent Profile page). 

If you choose Custom Date, you can select a date of your choosing and the plan will rollover one year from that date.

If you choose Calendar Year, the plan will always rollover on January 1st.

And if you choose No Roll Over Date, the plan will never reset.

5. You can add a pre-commission credit/debit to the plan. If you charge a franchise fee off the top of each deal you can enter that fee:

Learn more about pre-commission credit/debits by clicking here.

6. Next we'll set up each level of our commission plan. In the example below, the agent will move from level 1 to level 2 when they exceed 3 closed transactions and from level 2 to level 3 when they exceed 6 closed transactions.

If you want to charge a fee for each level of your plan you can enter that info into the Closing Fee Item and Amount fields. This feature allows you to adjust your fee based on the level of the commission plan. You can choose a dollar amount or a % of the gross commission, agent's commission, or sales price.

7. Next, do you have a cap on the fees?  If you have a cap on fees in each level, these fees will be applied towards that cap. This fee will be automatically deducted from the agent's commission when you create a commission disbursement.
For example, if you charge 1% of the sales price but only until the agent has paid $1,000, you can set that up by adding the 1% fee based on the sales price, and select Yes to Cap on Fees, and then enter $1,000 in the Cap Amount field. 

Click Save Commission Plan

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