Real Estate Industry Sales Commission

Overview

QCommission enables you to quickly calculate commission, verify results and distribute this information to your agencies, agents, brokers and staff. You can present the commission information in such a way that the sales people clearly understand what they are being paid and why they are being paid at a very detailed level. Excel and manual calculations can introduce a lot of errors into your calculations and cause your sales people to lose trust in you. QCommission can help avoid that by calculating all commissions systematically and reliably.

QCommission provides a lot of flexibility to set up commission plans that are unique to your company and your staff.

• Pay against Property Sales, New Leases and Lease Renewals.
• Pay against Commercial and Residential businesses.
• Pay commissions against Sale amount, Net Sale amount, Units of sale.
• Deduct various fees such as desk and marketing fees from commission.
• Pay flat amount of commission per Sale.
• Pay different commission rates by tiers of revenue attainment.
• Pay Referral Fees.
• Pay employees, agents.
• Credit sales by specific property to payees.
• Credit sales by branch office, by specific deals to payees.
• Split commissions between multiple Payees.
• Pay different commission rates for Sales Reps
• Provide splits and overrides to Branch Managers and Regional Directors.
• Pay weekly, bi-weekly, twice-monthly, monthly, quarterly and annual.
• Pay various bonuses.
• Calculate commission on sale but pay out at time of close, move-in etc.
• Make adjustments to payouts.
• Pay draws or guaranteed payouts.
• Track commission calculations across terminations and job changes.

Import/Export

QCommission is designed to integrate with QuickBooks®, Salesforce.com, Sage Peachtree, MS Dynamics GP, MS Dynamics Axapta and many others. QCommission can also accept Excel, fixed file and delimited format files. QCommission can also process some PDF format files. QCommission can also operate stand-alone.

• Import data from QuickBooks including Invoices, Expenses, Payees, Customers and Products.
• Import from third party systems sale, leases, close and move-in data.
• Restrict Transaction import using a date range.
• Export Commissions directly to QuickBooks Accounts Payable and Payroll.
• Export data to Excel, and fixed or text-delimited file formats.

Plan Setup

The QCommission Plan describes an individual’s sales commission plan in detail.

• Calculate payouts weekly, bi-weekly, monthly, bi-monthly, quarterly , etc.
• Have multiple commissions and bonuses per plan
• Create unique plans for every payee.
• Share plan calculations among payees.

Reporting

QCommission stores all data entered and all payout calculations.

• Produce detailed commission statements by payee.
• Reproduce commission statements for prior periods.
• Report on split credits and un-credited transactions.
• Analyze historical transaction and payment Information.
• Email commission statements to payees.
• View commission statements through the web

Customer Profile

NV Real Estate Academy is one of the most well-known companies that teach people the ins and outs of a career in real estate investing. They provide a whole range of services from educational resources to active investing.

NV Real Estate Academy was founded and is run by Nick Vertucci, “one of the nation’s most prolific and successful real estate investors”.

The Problem

NV Real Estate Academy processes sales commissions for more than 60 payees on a weekly basis. With Excel as their main tool for this process, it proved to be time consuming, confusing, and unreliable in the long run. NV Real Estate Academy’s Jeff Wilson spent an average of 5-10 hours per week just processing sales commissions.

When we asked what made them decide to automate their sales commission process, Jeff explained that, “[The] main issue has always been crediting payees with additional sales collected after they were paid for an event. Also, the payouts of reserves held after 6 months”.

With this problem in mind, they searched online and found QCommission. “[QCommission] seemed to be the most prominent and best reviewed [software] during internet searches”, Jeff said. 

The Project

As soon as the QCommission team received NV Real Estate Academy’s request for a demo, they quickly got together and created a demo version of QCommission which was tailored to all the parameters that Jeff Wilson provided during the needs analysis call. The demo was presented, and upon deciding that QCommission was the perfect fit, Jeff and the rest of the NV Real Estate Academy team gave the go signal for the project.

The QCommission team made sure to tailor the QCommission software to NV Real Estate’s needs:

•  Different plans were set for specific sales reps
•  Exceptions like cancellations and refunded amounts being deducted from the sales res’commissions were automated
•  The scenario where collecting a part of the sales rep’s commissions and paying  them in the future was also automated

QCommission isn’t a one-size fits all kind of software. It is always tailored to do what the customers and their sales compensation plans call for.

To date, NV Real Estate Academy has been a highly satisfied QCommission customer for 1.5 years.