Default Value for Commission Summary Now Available to All Accounts
To help meet recent NAR Settlement requirements and simplify tracking compensation sources, all Pipeline accounts may now set a default value for the Commission Summary field. Once set, the default value will automatically populate in the Commission Summary field for each new transaction, prompting team members to enter Buying side sources.
Previously, this option was limited to Commission Module accounts.
The Commission Summary field is commonly used to store and share compensation details with everyone who has access to the transaction. It allows agents to easily add any negotiated compensation figures or specifics, making them visible to admins for better transparency.
Here's how to set it up:
- Go to Company Settings by clicking your name in the upper right corner, then [Admin / Settings].
- Scroll to the Transaction Settings section and locate the Pre-filled default value for Commission Summary field.
- Enter your desired default information and save to apply it to all new transactions.
Commission Module
Set a Default Value to Prompt Entry of Buying Side Sources
When managing commissions, you now have the option to distribute Buying Side commission between seller and buyer sources. As a result, the old commission fields have been renamed Commission (Paid by Seller), so that the source is clear.
Buyer-sourced commission can be entered into a new, optional Commission (Paid by Buyer) field by clicking [+] next to the Commission field.
Learn more about Managing Commissions →
Commission Disbursement Authorization is Now Compensation Disbursement Authorization
The term "Commission" has been replaced with "Compensation" throughout the CDA to clarify that it includes various sources of compensation.
You’ll see this change in the document name as well as in the fields and labels within the form.
This update will help ensure consistent terminology and a clearer understanding of the complete compensation picture for each transaction.