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Commercial Compensation Disbursement Overview

COMMERCIAL COMPENSATION  DISBURSEMENT OVERVIEW

We at eXp Commercial are agent obsessed! The Transaction Processing Team's mission is to provide superior customer service to our agents by ensuring compliant and accurate authorizations of payment.
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WE FULFILL THIS PURPOSE BY:
  • Reviewing agent data for accuracy.
  • Validating agents pay structure, fees and future performance.
  • Coordinating compensation disbursement instructions with closing entities.
  • Verifying accuracy of payments to agents and third parties.  
  • Agent education.  
WHAT TO EXPECT:
  • Agent to create a Skyslope file and upload all documentation associated with a transaction within two business days of execution. This includes, but is not limited to Listing, Purchase Agreement, Lease, and Referrals.
  • Transaction Staff will distribute the Compensation Disbursement Authorization (CDA) to the closing entity 7 to 10 days prior to closing. This ensures any changes from the time the file is uploaded to COE are captured.
  • Transaction staff will settle the Transaction within 48 hours after close of escrow, provided all  required documentation is received (Final Closing Statement, Copy of Compensation Check  and Referral Agreements with 3rd party vendor W-9, if applicable) and the file is Broker Approved.
  • All commission payments for eXp Commercial are Single Check (commissions are made payable to eXp Commercial) and are disbursed by eXp Commercial via direct deposit or Real Time Payment.
CHANGES TO COMPENSATION:
 
Changes to the commission breakdown should be re-entered in the SkySlope file under the COMMISSION tab. Changes to compensation include, but are not limited to, changes in the sales price, buyer credits,  inbound/outbound referral(s), compensation splits with co-agent(s), or additional compensation information.
 
SCHEDULED CLOSE DATE:
 
It is important to remember, change in a scheduled close date impacts when the Disbursement Authorization  gets released to the closing entity. If there is a change of closing date, it should be immediately changed in the SkySlope file under the TRANSACTIONS Tab.
 
LEASE COMPENSATION INSTALLMENT PAYMENTS:
 
For each installment, a transaction file in SkySlope is always required for the Transaction Processing Team to issue compensation payments to agents.