Enter Sale Price & Commission Information

There are two ways to enter the Contract Price (Sale Price) of a property.

1. When you change the status of the property to Contract, Sold or Settled
2. By entering it on the Edit >> Commissions tab.

(If you upload to iDashboard/iProperty from a third party software provider the Contract Price will automatically be set for you, as long as you enter it into your software)

First, we will cover how to enter the Contract Price (or Sale Price) by changing the status, and then we will move on to adding these details along with the Commission information from the Commissions tab.

Changing a Property Status from Listed to Under Contract

1. Open the Listed Property.
2. Click on the Status dropdown located in the top right of the listing and select the Contract status.
3. A dialogue should appear asking for the Selling Agents, Contract Price and Exchange Date.
4. Enter information into every field.
5. Click on Advance to Under Contract.

You have now entered your basic sales information, the same dialogue box will appear when you move the property to Sold or Settled, so this information can be updated at each status change.

Now that we know how to add the basic sales information, let's move on to editing (or adding) a Sale Price and Commission from the Commissions Tab.

Enter Sale Price and Commission Information from the Commissions Tab

1. Open the property.
2. Once you are in the property Overview screen click on the Edit tab.
3. Click on the Contract & Commissions sub-tab.
4. Enter the Contract Price (if not present) and tick the box to Disclose contract price to portals if you would like to advertise the contract price online.
5. Enter either a Dollar or Percentage figure as the 'Gross Selling Fee'
6. Next, enter the Tax percentage, by default this is 10%.
   
7. Now that we have our Contract Price and Commission total entered, let's move on to the Commission Breakdown.
8. Click on the arrow for Commission Breakdown to expand the card.
9. Here we can apply a pre-set commission structure (if already set in the system), by selecting the structure and clicking Reapply.
10. To edit the commission breakdown, start by adding the allocated percentage totals to each component e.g. Set Total Commission for Listing = 20% of total commission.
11. Next, we need to assign how much of the Component Commission is going to each employee (or office).
12. Select from the drop-down list which employee should receive a portion of the relative Component. By default the listing agents will be prefilled in this section. If you would like to add additional agents to a section click Add Additional Recipient.
13. Repeat this for each component and then select Update Property.
    

Totals for the listing agents, selling agents, and the agency can be viewed via the Total Commissions card at the bottom of the page.