Overview

This entry explains how to set up commissions in NexOne (formerly Faltour) when a team member is involved.

Who is this for?

This is for all team members who have contact with our NexOne documents and trade processing system.

Process and Notes

• All team member commissions are net of the team split with the brokerage, and the amounts are dictated by what is in the agent’s contract and what is in the current splits chart.

• As of 2023, all team members are paid as if the current split with the brokerage is 90/10 for the team. In reality, this number fluctuates through the year because the first 10 trades of the year all have a $1000 per-deal fee applied that Nick absorbs, and trades beyond $200,000 for the year (Team Gross Commission) have a more beneficial brokerage split and smaller deal fee. The reason for this is to keep pay splits consistent for team members throughout the year and not unfairly bonus or penalizes agents based upon current per-deal fees or what order their closings occur based upon other closings for the year.

• The HUB has been notified that Nick will be absorbing all per-deal fees and will calculate these post-NexOne. All team members involved in a trade should have a look at each trade record to ensure that it’s accounted for properly.

• Team members should always be named as “Selling Team Assist” or “Listing Team Assist” and not “Selling Agent” or “Listing Agent.” This is as directed by the HUB.

Example

Below is an example of a trade for 2 The Parkway Park:

• Selling Price: $625,000

• Commission to Selling Side (Buyer’s Side): 2.25% total

• Gross Commission for our team on this side: $14,062