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Bank repossessions - how to add a commission % range
Bank repossessions - how to add a commission % range

Some banks offer varying commissions dependent on the purchasing conditions. You can add a commission % range to these properties.

Updated over a week ago

If you add a commission range, eg: a range of 3% to 5%:

  • The commission range will display on the search results page and you should find information on the offered percentages in the property's Commission Notes.

  • The commission monetary amounts displayed on the Agent Info tab of a bank property will be calculated using the lowest commission offered.

If a commission range applies then you must add it to the listing to allow for complete transparency to your collaborating agents. Some of you will already know that collaborating agents will not be happy if a commission is not clear and they think they are going to get a share of a certain percentage that is stated on the system, only to find that they will be sharing a lesser commission.

How can I add a commission range to my Bank Repossession properties?

  1. While either Editing or Adding a new property

  2. Click the [Pricing] tab

  3. Enter the LOWEST commission percentage achievable in the [Percentage] field

  4. Enter the percentage splits for Listing Agent and Selling Agent

  5. In the Commission Notes text box, add the HIGHEST commission percentage achievable in the following format [x%] - you must use the square brackets and replace the x with the commission percentage number.

  6. Start a new line in the Commission Notes text box and add the relevant explanation about the different commissions.

For example:

  1. If the commission range for your property is between 3% and 5%, then you would have added 3 to the Percentage field, and [5%] in the Commission Notes field.

  2. If you enter the percentage range correctly, then the commission 3% - 5% will display on the search results page.

  3. The Agent Info tab on the property will display the percentage range, but show a monetary calculation based on the lowest commission achievable.

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