How to add or modify the realtor commission on a real estate sale transaction
To add or modify the commission amount on a real estate sale
- Open the Sale Closing Form
- On the General tab of the form, enter the total percentage charged as real estate commission, exactly as it appears on the Commission Statement
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- Once the realtor commission is entered, Nojumi will complete the required calculations for the trust ledger. Specifically, Nojumi will calculate the commission amount, add 13% HST to it, and compare it with the deposit amount. If the total commission is greater than the deposit amount, it will add a line item to the trust ledger for the difference between the total commission after tax and the deposit to be paid to the broker. If the total commission is less than the deposit amount, it will include a note in the trust ledger informing the seller that they should expect to receive the difference between the total commission after tax and the deposit from the listing brokerage after closing.