Begin tracking GCI (Gross Commission Income) as well as NCI (Net Commission Income) by adding in custom financials for your Company Fees, any Team Fees you have, and any Agent Fees your team may have. These will auto-calculate your agent’s NCI.
Soon, Brivity will also have reporting to aggregate your total transaction GCI and NCI.
To set in basic company Financials, follow these steps.
Step 1: Click on your Name in the upper right of your account then select Settings.
Step 2: Click on the tab Financials.
Step 3: Select the EDIT button in the upper-right of the page.
Add Company Base Fees
Add in your company’s average commission fee as the Office Fee. This setting makes every transaction default to a percentage of flat fee to start the transaction, but can easily be edited in the transaction if a different commission fee is negotiated.
Click Add Expense. Here you can add any other office fees, like a percentage 6% franchise fee or a flat $295 office admin fee. There’s no limit to the number of fees you can add.
Update Commissions and Fees per agent
Once your office fees are set, update each agent’s commission split with the office in the next few steps. Moving forward, as new agents are added to your team, come here to add their negotiated commission split and fees.
Select an agent on the team. There you can update their negotiated Commission Split, Brokerage Cap Rate, the royalty fee will transfer from the Office Fees area, but can be changed here), update the Royalty Cap, and the date the Cap Rate starts over.