Office Commissions and Basis Of Calculation

Purpose

This section describes how the company calculates the commissions for property sales.

Scope

This procedure applies to all property sales.

Procedure

Company commission for sales

All sale commission incur two levies prior to the sales persons commission split.  These are as follows:

3% of the total commission to cover corporate marketing

$350 to cover customer service

Commission Splits

All sale commissions are divided into four categories:

Lead (10%) 

This is payable to the sales person who generates the lead for this property.  In the case of company telemarketing and property management leads this commission will be retained by the company.

List (10%)

This is payable to the sales person who physically signs up the authority to sell with the vendor.  In the case of a trainee agent who finds the lead and is then accompanied by a senior agent, the senior person would get the list commission.

Manage (10%)

This is payable to the person who handles the sale file from the time of listing to the sale being made.  In the case of a listing being assigned to another agent the new agent would earn this commission.

Sell (10%)

The agent who shows the property to the buyer or refers them to an open for inspection would earn this commission

See salespersons commission policy for more information.