Opportunities received a big update! We have combined the Offers and Commissions tabs, and now attach Commission requests to accepted offers. In this way, if a deal falls through you can submit a Commission Termination request, start receiving/submitting new offers, and submit a new Commission request when ready.
- Click here to learn how to submit a Commission Termination request, if a deal falls through after the Commission Request was approved.
The new workflow does require agents to create and accept an offer before being able to submit a Commission request.
Once you submit a Commission Request for an Opportunity, you will no longer be able to make certain edits:
If you needed to make any of these changes after the Commission Request has been submitted, reach out to your MCA and have them return the request, which allow you to make full edits.
To submit a Commission Request for an Opportunity:
1. Log in to https://agent.kw.com with your Keller Williams login credentials.
2. Click the Opportunities icon, , on the left sidebar.
3. From the Opportunities Dashboard, click on the phase, where your Opportunity is located, then click on the Opportunity Title.
4. Once in the Opportunity, click the Offers & Commissions tab, at the top of the page.
5. Find your accepted offer and click Manage Commission.
You must create and accept an offer to see this option. Use the links below to learn how to do this:
1. The Commissions page will auto-fill with the data you entered into the accepted offer. In the General Information section, you can make any last minute adjustments by clicking Edit General Information.
2. A window will appear where you can edit the Sales Price, Commission Rate, and also the Contract Date. Click Save Changes once you're done.
If you need to make a change to the Closed Date, you will have to go back to the Offer, change the response, and you will be able to change the Closed Date from there. Once the Closed Date is changed, you will also need to re-accept the Offer.
Add Co-Broker Payment
1. If you need to add a Co-Broker payment you can do so by clicking Add Co-Broker Payment right above the commission details. If not, you can skip this section.
2. Enter the information in all of the required fields and click Save Changes.
Add Another Agent
1. If you need to add an agent split, you will enable this functionality, by clicking Add Another Agent.
2. In the Add Agent form, start typing the agent's name and select the name from the drop-down list. You will only see a list of agents from your Market Center. If you are adding someone outside your Market Center, see the Agent Payment section to learn how to add that.
3. Now you can distribute units and commission totals to the secondary agent. When you make the adjustment to the unit, click Calculate Commission and the Agent Gross Commission will update.
Repeat this process to distribute the unit and commission totals to as many agents as you need. As you add secondary agents, the unit totals must equal 1 and commission totals must add up to what is shown in the the Pricing Details section at the top of the page.
4. Enter the additional deductions as needed, then click Save Changes.
1. If you need to make any adjustments to your deductions, click Edit Agent Payment. If you have split a unit with another agent, make sure you've distributed the other half of the unit properly.
2. When you make the adjustment to the unit, click Calculate Commission and the Agent Gross Commission will update.
Deductions, Concessions, Bonuses, and Referrals
1. Each agent will have a financial breakdown details section. In the Deductions section, there are spaces provided where each agent can donate to KW Cares, KW Kids Can, and the BOLD Scholarship fund.
If there is anything else that needs to be deducted from the total, click Add Item, below the Net to Agent amount.
2. In the Add Item form, first select the type of deduction:
E&O (Errors and Omissions insurance fee): This field will not be an option when adding an item, but will always be a field that shows above KW Cares. Not all Market Centers collect this fee through closing, so you might need to keep this at $0, though talk to your MCA to be sure.
Outside Referral - referral fee that is sent to another broker. It is leaving my brokerage and paying for a lead.
Use Case: When an agent needs to pay out a referral fee to another brokerage.
Inside Referral - a portion of the commission that is sent to an agent inside your MC
Use Case: As an agent, I would like to send a referral fee to an agent inside my Market Center.
Deduction (debit) - payment for an expense incurred by the agent, paid from the agent’s net commission by the MC
Use case: As an agent, I contract with a transaction coordinator for $X for closing. The MC deducts $X from my commission and cuts a check directly to the transaction coordinator.
Bonus (credit) - an additional fixed amount added to the standard commission amount normally to incentivize offers in a specified time frame.
Use case: A home builder might pay X % commission, however when close to selling out a subdivision may offer an additional amount if a contract assigned by a particular date.
Concession - an amount of the commission generally owed to the agent but waived in order to get the deal to close.
Use case: An agent could waive a portion of the commission to cover a home warranty to alleviate buyer fears from the results of an inspection. It’s a tracking mechanism, not everyone uses it.
3. Once you select the type, complete the corresponding form. Click Add when finished.
4. Click Save Changes when you're finished.
Add Notes and Submit Commissions
1. Before you submit, you can click + Add Note, on the right side of the page, to leave a note for your MCA or Compliance Coordinator. They will see this note as they are reviewing the Commission request for this Opportunity.
2. Once your unit and commission totals are balanced and each agent's deductions have been entered, click Submit, on the right side of the page.
3. If you have not already opted in to donating to either KW Cares or KW Kids Can, a pop-up will appear giving you the option of doing so. Either click No, Not This Time, or select a donation amount for either organization, and click Donate and Continue. This will appear for each agent added to the Commission Request.