Real Estate Overview

Real Estate 

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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.

Calculate Accurately with Flexible Rules

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 QuickBooksTM, Salesforce.com, MicroSoft Dynamics, SQL Server and other data formats. QCommission can also accept Excel, fixed file and delimited 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

Case Studies

QCommission Automates Commissions for UFM

Union Fidelity Mortgage (UFM), is a mid-size mortgage firm based in La Jolla, California. With the volatile changes in housing prices in California and the rising interest rates, there has been a lot of activity in the house lending marketplace. UFM has been right in the middle of it, covering the San Diego area.

UFM is a sophisticated mortgage operation with about 90 Loan Officers and 20 Loan Processors. The firm is used to a high level of automation including a comprehensive web site that helps in the sales process. Randy Martin, the President of the firm said “Commissions had been a nightmare for us. We had an extremely complicated commission structure that used data across multiple periods. Using Excel to calculate commissions for the number of people we had was a real problem. I was looking for a robust and flexible solution and was willing to change business processes to automate the sales commission process.”

Bernadette Thibodeau, the Controller for UFM, identified QCommission as a potential solution for her needs. She was particularly impressed with the high level of integration that QCommission provided with QuickBooks. After a detailed evaluation of the software and discussions about how the software would be integrated into her environment, she recommended that QCommission be the product of choice. Randy agreed and the deal was closed within two weeks of initial contact.

The QCommission implementation team initiated the project and analyzed the customer requirements at a very detailed level. The key complexities emerged as follows:

  • the loan income data had to come from QuickBooks and income for a single loan could be recorded in multiple periods and paid in the same period
  • the loan expenses data had to come from QuickBooks as well and expenses for a single loan could be recorded in multiple periods and paid in the same period
  • the calculation had to keep track net income for each and every loan individually across multiple periods
  • loans could be split between officers and this needed to be indicated in QuickBooks itself
  • if the split is known at the time of closing, the application had to back retroactively split any incomes/expenses for the loan
  • loans had to be backdated into prior periods and calculated with the prior period rates
  • expenses could be deducted at the loan officer level as well
  • additional fixed amounts could be provided
  • there were many bonuses such as Car Allowance and Vacation bonus that had to be provided

There were many other requirements such as these.

After analyzing all the changes the implementation system suggested a few business changes to streamline the business process and reduce manual work. UFM was more than happy to put those recommendations in place. The implementation team then proceeded to set up every one of the payees and plans, tested the integration of data with QuickBooks, ran all the calculations for multiple periods and verified the results with UFM.

UFM wanted to test the calculations in parallel with their existing processes. Even though the project was a fixed fee, the QCommission implementation team worked with the customer to support the parallel test of calculations for multiple periods. Bernadette said, “Even though it was a lot of extra work, the QCommission team, stayed with me and helped me through the calculation of every period. We found the results calculated through QCommission to be more accurate than our manual calculations. We were also able to change our plans rapidly with the use of the system.”

Randy concluded, “We didn’t think we could find a system that could solve our complex needs for a reasonable price. But QCommission not only provided a system but an excellent implementation team to make sure we were successful. I don’t think we could have been successful without the implementation team’s understanding of our business process and assistance in setting up our initial process. Their business process recommendations helped us tremendously. I would recommend them to any one else without reservation.”


NV Real Estate Academy

NV Real Estate Academy Automates their Sales Commissions Using QCommission

 

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.

 

Quote

“[QCommission] completely streamlined my payroll process. I was looking for an automated commission software that would fit our specific needs. I met with the QCommission team over the phone and they tailored the software to do exactly what I needed. After doing commission by hand, QC saves me probably an entire day’s worth of work each week. Highly recommended!”

    - Jeff Wilson, NV Real Estate Academy

 

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Zenith Mortgage Service- Sales Commission Statement

Payee YTD Incentive Summary

Payee YTD Incentive Summary

Payee YTD Incentive Summary

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Payee Commissions Report to Manager

Payee YTD Incentive Summary

Payee Commissions Report to Manager

Payee YTD Incentive Summary