Agent Account

Broker utilizes a management account to keep a record of all its fees, fines and penalties assessed to its salespersons.  Each salesperson is assigned its own independent account, which is referred to as an “Agent Account”.  The “Broker Income Settlement Sheet” located in Agent Forms is used to both (1) Calculate the commission owed on a closed transaction and (2) Update a salespersons running balance, where applicable, based upon the following:

Referral Fee

Mentorship Program

Broker Fee

Errors & Omissions Insurance

 

Mill Tax 

Compliance Review Penalty

MLS Fines

Broker Involvement

 

Commission Demand Unauthorized Signature

Unauthorized Commission Deposit

Yard Signs/Broker Credit

Orientation Deadline 

 

Salesperson will receive a copy of its breakdown at the close of each transaction.  

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