Category: BrokerSumo Product (page 1 of 2)

Introducing Caps on Fees

Introducing our latest commission plan feature, caps on fees. If you charge fees per transaction but you have a cap on those fees, you can now create commission plans that automatically calculate when the cap is met.

For example:

You charge a fee of $100 per transaction but only until the agent has paid $1000 in fees during a set period. For the first 10 transactions the $100 fee will automatically appear on the commission disbursement, but once they’ve paid in $1,000, the next transaction will not apply the fee. When the commission plan resets, based on the criteria you select (agent’s start date, calendar year, custom date) the fee will start again and cap will need to be met again.

To add this feature to a new commission plan, you’ll see a question, Cap on Fees?, select Yes and then you can add the cap amount.

This feature can only be applied to new commission plans, so if you want to move existing agents into this type of plan, you’ll need to create the new plan, and then assign the commission plan to that agent.

Try BrokerSumo free for 14 days. Click here to sign up.

Our Latest Product Update

Here’s what has recently been released:

SkySlope Integration
We are now integrated with Skyslope so you can sync your transactions into BrokerSumo to make it easier to close out your files and avoid double entry of data. Read about how it works here.

Commission Detail Report
This is a very detailed commission report and can be utilized in a variety of different ways. It will show you all the credits or debits on a deal. It has a column called Broker Commission after Agent Split. This is the company dollar paid, the amount that would go towards an agent’s cap. It’s the difference between the Brokerage Gross Commission and the Agent’s Gross Commission excluding any fees.

In Settings > Agent Permissions you’ll see an option to turn this report on in your agents account. We know that some of you prefer to not share all the details of a transaction with the agents so you have the flexibility to turn this report on for them if you want.

You can also download a copy of the commission disbursement from this report as well, there is a download button in the Action column. If you’ve turned on this report for the agents and you’ve also selected the agent permission allowing agents to view disbursements, they will also be able to download a full copy of the disbursement here.

Agent Billing

If you send out an agent invoice, and the agent’s credit card is declined, the billing log shows this item as unpaid. Now you can click the credit card icon to re-charge the agent’s card without having to enter the item again on an invoice.

In addition, you’ll see a pop up where you can add a late fee to this charge. The agent’s card will then be charged for the original fee plus any late fee you add on to it.

If the card is processed successfully, the log will be updated with the new amount you just charged so you won’t have a duplicate entry in the log and the memo will be updated as well.

The memo portion of the invoice can now be seen in the agent’s billing log in their agent portal. The agent’s can’t edit or delete the memo, they can only view it.

Invoices that have been emailed can now also be re-sent in the billing log. You’ll see an email icon in the Action column. Clicking that will re-send the invoice to the agent.

Collect Unpaid Billing Balances on the Commission Disbursement

You can now collect unpaid billing balances on the commission disbursement. If your agent has an unpaid balance, when you run a commission disbursement for one of their transactions you’ll see a line in the Additional Agent Closing Fees section that says:

To collect just click the Collect Now button. This will add an entry to the memo for those billing items that make up the outstanding balance showing that this item was paid for from a transaction and the item will be marked as paid in the billing log. If you delete the disbursement, this item will be returned to unpaid in the billing log.

If you are syncing to QuickBooks, we advise that you don’t sync this item from the billing log as that will create a double entry in QuickBooks of this item being paid since it’s already been paid on a transaction.

Transaction Status Types

You can now add a status type to a transaction. We’ve kept it simple for this initial roll out so your options are Active, Pending/Under Contract, Closed, Cancelled, as these can be applied to most scenarios. We will look to expand the options in the future. All your currently closed transactions will automatically have their status type updated to Closed. All your transactions without a disbursement created will be automatically updated to Active. All transactions at 25%, 50% or 75% complete will be changed to Pending/Under Contract. To change the status to Closed, you must complete the Pay Agent task. When this is complete, the status will be automatically updated to Closed.

Cancelled status type transactions will be filtered out of the main view transaction page, but you can always access them by clicking the Filter button and updating your filter criteria. You can see all your cancelled deals on the Pipeline report by filtering by the Cancelled status type.

Vendor Section 

You can now add, edit and delete vendors and their information in the Settings > Vendors section. Vendors are used for pre-commission and post-commission credit/debits on the commission disbursement and for paying vendors using the direct deposit feature.

Try BrokerSumo free for 14 days. Click here to sign up.

NextHome, Inc. partners with BrokerSumo to bring commissions and accounting solution to its franchise network

The system will facilitate agent billings and reporting for NextHome brokerages

Pleasanton, CA — May 17th, 2017 National real estate franchisor, NextHome, Inc., announces new partnership with BrokerSumo, provider of the industry’s leading back office, commission management and accounting platform. The companies join forces to provide NextHome franchisees a modern and affordable solution for automatically calculating commission splits, creating disbursements, paying agents and managing office accounting.

“I have researched a variety of back office solutions for our real estate network. In the end, BrokerSumo’s platform offers the perfect blend of efficiency, accuracy and ease of use,” said Keith Robinson, Chief Strategy Officer of NextHome. “As you manage your brokerage, your back office solution should ‘just work’ and allow you to be a better leader for your agents. BrokerSumo does exactly that.”

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BrokerSumo to Exhibit at Inman Connect 2017 in San Francisco

We’re excited to announce that we’ll be exhibiting at Inman Connect 2017 in San Francisco as part of Startup Alley. Come visit us on August 7-11. We’ll be exhibiting along with a lot of other awesome real estate tech companies. Take a look at the entire roster here.



BrokerSumo and QuickBooks Are Now Synced!

We are excited to announce the BrokerSumo is now synced with QuickBooks making commission management and accounting even easier.

All your agents, commissions and billing data in BrokerSumo can be synced to QuickBooks and you have the flexibility to map your BrokerSumo data to QuickBooks based on your preferences.


The setup is simple and once you’re data is mapped, syncing takes about 2 seconds to complete.


Your brokerage commission data is synced into QuickBooks along with any credit or debits.


And your agent commission data is synced as well with all the credits and debits.


Making it easy to manage your commissions due, fees collected, agent commission payments and much more.

Try BrokerSumo free for 14 days. Click here to sign up.


New Features – Track Rental Transactions

You can now track rental transactions. There is a new option in the Add Transaction page for Rental. Check that box and you’ll see some of the fields change over to rental specific fields.

You can track the Rental Amount and Leasing Commissions fields in whatever format works for you. For example, if the commission was one months rent and the rent is $3,000 per month, you could add $3,000 to the Rental Amount, and for Leasing Commission you could enter 100%. If your agent is on a 50/50 split plan then when you run the disbursement, it will calculate the agent’s commission as $1,500. Or, you could put the gross annual rent amount $36,000, and for the Leasing Commission put whatever percentage 1 month equates to, in this scenario it would be 8.3%. This would calculate a gross commission of $3,000 on the disbursement.

Once you’ve closed out the transaction, the data will flow to a new report called ‘Rental Office Commission’ which is under the Reports menu.


The rental income will not show up on the Office Commission report. The rental income will show up on the Agent Commission report as well.

Try BrokerSumo free for 14 days. Click here to sign up.

New Features – Track Leads and Adjust Commission Plans in Transactions

You can now track leads for your transactions and also adjust an agent’s commission plan while adding or editing a transaction.

We heard from quite a few of you that you base the agent’s commission on the lead type and wanted an easy way to change it when working in a transaction. If your agent is on a flat fee plan, when you add a new transaction, or edit that transaction, you’ll see a Commission Plan field which will show the agent’s current commission plan and a list of all other flat fee plans along with the commission rate.

If you want to use a different plan on this transaction just select the plan you want and the agent’s commission will be calculated based on that plans commission rate. This will only adjust the agent’s commission for this deal. In addition, this will only work for new transactions, it won’t work on your old transactions.

You can now also add a lead source as well to a transaction and run a lead conversion report to see how many leads and how much income was generated from each lead source.

To add lead sources, go to Settings > Tags. Add a new tag and then check the box next to it to make it a lead source.

Once you’ve added some tags and made them lead sources they will show in your transactions and also on your lead conversion report which can be found in the Reports section.

Try BrokerSumo free for 14 days. Click here to sign up.


New Feature! Automatically Add Your Signature to Your Commission Disbursements

You can now add a default signature to your commission disbursements. In your Account Settings, you’ll see a field called ‘Signature’. Enter your signature text there. For example, ‘John Smith, Broker/Owner’. Below that you’ll see an option to upload a signature image. Click Submit at the bottom of the page and you’re all set.

Once you’ve added this info, your PDF disbursements will now automatically show your signature information at the bottom.

Try BrokerSumo free for 14 days. Click here to sign up.

New Features Friday. Customize Your Commission Disbursement!

Check out our new features that we’ve just released.

Customize your commission disbursements.
After you save your disbursement, you’ll see check boxes next to each line item on the disbursement.

To customize exactly which line items you want to display on your disbursement PDF, just check the boxes you want to show up on the PDF and then click the Generate Disbursement PDF at the bottom of the page. If you make a mistake, just go back to the commission disbursement page and check the correct boxes again, you don’t need to delete or re-create your disbursement to generate a new version of the PDF. Or if you are happy with the way the disbursements currently look, just leave the check boxes as-is and your disbursement will generate the same way it used to.

Preview Commission Disbursement PDF
In Firefox and Chrome browsers, when you click the Generate Disbursement PDF it will show your disbursement PDF in preview mode. If you are happy with it, you can download it from there by clicking the download button or if you want to go back and edit it again, you can close the preview by clicking the X at the top right corner in the row that says ‘Preview’. The screen shot below will show you where each of those buttons are on your screen.

If you use Internet Explorer, the preview mode doesn’t work and you’ll be prompted to download the PDF.

Try BrokerSumo free for 14 days. Click here to sign up.

New Features Friday! 4th of July Edition

In honor of America’s birthday, we’re giving out some gifts in the form of new product features! We hope you enjoy them.

Transaction Detail Report – This report will show you a list of all your transactions, their completion status, and the agent and broker net commissions. If you’ve run a disbursement for that transaction already then the commissions will be pulled directly from your disbursement. If you haven’t run a disbursement, the commissions will be shown as an estimate based on the agents commission plan and the gross commission for the transaction. You can also filter this report by agent to get a view of each agents transaction and commission volume. This report is also available in the agent portal for your agents to view. The agents will only see their specific transactions.


Transactions and commission disbursements are now viewable in the agent portal. Your agent will have access to see their transactions and the commission disbursement, if it’s been created already.

Documents that you’ve added to your onboarding template can now be viewed and deleted. To view a document just click the document name. To delete a document, just click the X to the right of the document. If you delete a document it won’t affect any onboarding packages you’ve already sent out.

Try BrokerSumo free for 14 days. Click here to sign up.

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