Released: March, 2019
Summary
This document provides an overview of the rebuilt Deal Share form in the Closed Deal Workflow. The Deal Share form’s purpose is typically to allow a Broker or Admin to enter the anticipated allocation of the total fees by Contact. This form is still used as optional reference information, and does not impact items found or entered on following tabs within the workflow, i.e. final fee allocations are still entered onto the Defined Splits form.
Please visit our YouTube channel to see a brief video of this feature: https://youtu.be/PhFPv1W6ucs.
Note: Only the Closed Deal Workflow will receive the newly updated Deal Share form. Other workflows that currently contain the Deal Share form will retain the older version until a future release.
Deal Share Highlights
Ease of entry: In addition to the updated look and feel, we have also updated the way contacts are selected for increased efficiency.
New Fixed Net Fields: Calculated as a % of the Share (Gross), the Fixed Net fields apply only to internal fee recipients, and allow you to indicate that the Net Commission amount for this recipient has been pre-determined, i.e. is not based on that recipient’s YTD production total.
Reporting: The ‘Broker Deal Sheet’ has also been updated to reflect the Fixed Net data entered.
Deal Share Overview
To add a new allocation, fill out the required fields and click the green plus icon.
The Side Represented initially defaults to the Side Represented reflected on the Deal Information
tab. If you select a Contact found on the Contact tab it is updated based on the Contact’s role: ‘Listing Broker’ is set to ‘Seller/Landlord’, ‘Procuring Broker’ is set to ‘Buyer/Tenant’, or if the contact is found as both ‘Listing Broker’ and ‘Procuring Broker’ Side Represented is set to ‘Both’.
If you have a Contact designated as the ‘Primary Salesperson’, they will automatically be added as the first allocation.
Restrictions/Quality Control
The new Deal Share form does have some restrictions to ensure better quality data entry:
When you click or tab into the Name field, a list of current Deal Contacts will automatically display. You can also type a name into the field to initiate a search of the entire Contact database. Since a Contact is required, the system does not allow you to submit the form if a name was typed in but no Contact record was selected.
* Indicates a required field.
The Fixed Net value is calculated as a percentage of the Gross Share, and therefore cannot
be greater than the Share (Gross) value.
Overall allocations must always equal the Total Fees before the form can be submitted. Any
out of balance condition will be reflected.
If you have any questions or would like to schedule a detailed training on this feature, please contact [email protected].
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