A significant amount of money changes hands throughout the course of a real estate transaction, and it's essential to ensure that all agreements properly recorded. The Commission page of a SkySlope Transaction file serves exactly that purpose. In this article, we will breakdown the Commission page, what each field means, and how to best enter Commission data in your SkySlope files. 

Where is the Commission page?
The Commission page is the third tab of a SkySlope Transaction file. After you fill out the first two tabs (Transaction and Contacts) and click Submit, you will be taken to the Commission page. 

What is the Commission page used for?
The answer might be simple; "it's used to track commission, of course!" But that's not all the Commission page is for. It's also used to track referral agents and fees, earnest money deposit information, and can be used to generate Commission Disbursement Authorizations (CDAs)!

Let's break down each section of the Commission page...

Standard Flat Transaction Commission Information:

If you've selected Flat Commission, you will see these fields. In the upper left corner, the Sales Price is pulled over from the Transaction tab. Beneath the Sales Price, you will enter the Listing Commission and Sales Commission as either a percentage or dollar amount. Required fields are labeled with a red asterisk (*), and are set to required by your brokerage.

Tiered Transaction Commission Information:

If you've selected Tiered Commission, you will see a more specified commission section. Tiered Commission allows you to enter different commission percentages on different parts of the purchase amount for the Listing side and the Sale side. For example:

• Sale Price: $700,000
• 5% Commission on the first $100,000
• 2% Commission on the balance of $600,000

The Sales Price in this section is auto-generated based on the sale price entered on the Transaction tab. The rest of the information (Listing Commission and Sales Commission) will need to be entered manually. Required fields are labeled with a red asterisk (*), and are set to required by your brokerage.

Office-specific Payment Information:

In the upper right section of the Commission page, we have the above fields. The Personal Deal (Y/N) is used to notate whether or not the agent is listing or buying the property themselves.

Office Gross Commission is automatically calculated based on the file type (selected under "Type" on the Transaction tab) and the Listing and Sale Commission.

The only way to manually enter an amount for the Office Gross Commission is to select Other as the file type. The Office Gross Commission will not account for any separate deductions.

The TC Fee/Admin Brokerage Commission and Transaction Coordinator Name are two fields used to track if anyone is serving as a TC for that file and how much they are being paid. You can enter the payment amount and the name in their respective fields.

Deductions:

Other Deductions can be used to record any deductions not listed in the above sections that will be subtracted before commission is paid, such as tax deductions or charitable donations. 

Earnest Money Deposit:

Next up is any Earnest Money Deposit (EMD) information, which will include different fields depending on what you select. For the question Will Your Brokerage Hold Earnest Money, you are required to select an option. You can select either Yes or No. 

- If you select NO, you will see these options:

The Deposit Amount is the amount of the deposit paid by the buyers to show that they are genuinely interested in purchasing the property. Date of Check can be used to track the date that the EMD was paid. Date Posted to Log Book allows your office to track the date the check was posted to their internal log book (if funds are being held internally). 

- If you select YES, you will see these options:

The Deposit Amount is the amount of the deposit paid by the buyers to show that they are genuinely interested in purchasing the property. Date of Check can be used to track the date that the EMD was paid. Date Posted to Log Book allows your office to track the date the check was posted to their internal log book (if funds are being held internally).

The Additional Deposits section below can be used to track the Additional Deposit Amount and the Due Date for Additional Deposit.

Referral Information: 

The Referral Details section can be used to track any referrals for the file. For the Referral Type drop-down, you can select No Referral, Internal Referral (from within the same brokerage), or External Referral (from another brokerage). The Referral Agent can be added by clicking on Add, and then manually entering the agent's name and contact details. Then you can enter the Referral's Brokerage Name, the Referral Amount as a dollar amount or percentage, and upload a W-9 Form for the referral.  

 
Additional Commission Split/Breakdown Information:

At the bottom of the Commission tab, there are three more sections. The Additional Commission Information section can be used as a comment log. After a comment is entered, you can click Save. Any following comments will be saved in the Comment History; comments can't be deleted. When a co-agent is added onto the file, the Commission Split will auto-populate and allow for split commission (by amount or percentage) between the primary agent and the co-agent. The Commission Breakdown can be used to log any commission payments that are due to anyone other than the primary or co-agent. You can enter their name, contact information, and the amount they are due. 


If you have any additional questions about the Commission tab that aren't answered here, please reach out to our SkySlope Support team and let us know!