Sales price and commission price boxes

Most of the time it is a % of the price, but it is calculated on a price other than the sales price. which we call the Commission Price   (usually due to a concession/give back/ seller credit  on the deal).  In looking at our deals from last year,  22% of the deals were not calculated on a sales price but on a price less than the actual sales price that is agreed upon.  

There are very, very few incidents where the commission may be just a flat negotiated rated. 

currently the way we are handling this is that in the comments,  our staff will put in  the commission comments the following note. 

Sales Price $ xxx.

Commission price $xxx

MLS $ adjustment 

this is needed for when the commission statements are prepared, we know what price the commission is being based on and don't have to go back and review attorney letters or contracts (which is very time consuming, if we can even find the information).  

Just some further info is that when the agent is putting the transaction in, they will put in a %, but after the deal closes, I put the actual $ amounts based on the the HUD/ALTA statement . This could be because of the commission price being different than the sales price and MLS fees that may be added or subtracted from the commission.  

I hope this info is helpful. 

Hi Debbie,

I responded to your concession request on the other post. Thank you for the feedback on this one also. Can you provide more details on how a commission price, other than the sale price, is typically calculated and how often (rough percentage of transactions) this happens?

-Buck, VP of Product