“Additional commission” is the term used by Side to describe a fee collected from the Client and paid to the Agent, Team, or TC. These may be listed as a “transaction fee” or “processing fee” on the contract.
This fee needs to be added onto the commission form to ensure the settlement company collects this amount from the client and sends it to Side in addition to commissions.
Bonuses (BTSA) would also be added in as “Additional commission”.
Additional commission is located in the drop down menu under the “fees” section of the form.
Complete the following fields to add Additional commission on the commission form:
- Fee Type: Select Fee type as Additional Commission
- Amount: Enter the $ value of the fee
- Paid To: Select the correct Agent, Team or TC name
- Paid By: This will default to the contact entered in the Settlement Company section.
Note: Additional commission is different from Reimbursements for specific services paid for by agents. Reimbursements should be collected directly from the client.