To close an application, first navigate to the lettings application's detail page.

Click the Completed/Cancelled stage at the pipeline and select "completed".

Next, input the agreed rent, Commission Revenue, Commission Splits, and adjustments. The total payment will be calculated. 

There are three (3) stages of commission splits:

• Add/Deduct Before Splits:
  • These are additions to or deductions from the total amount, before the commission split.
  • These adjustments affect the amount everyone can be paid.
• Splits:
  • This is where the commission splits are entered.
  • If additional agents are receiving a split, they may be added here.
• Add/Deduct After Splits:
  • These are any adjustments that individually apply to the team/agency OR a particular agent, from their own share of the commission.
  • Use the "Paid From" and "Paid To" columns to indicate which side the payment is coming from. 

LoftyWorks Lettings allows Contractor, or anyone who is not a member of the LoftyWorks account, to be included in the commission split on an application.

When clicking the "Paid To/From" box, the drop-down menu will display some suggestions, which include the following: 

• The owner's Team
• The party that was recently searched (displaying a maximum of 6)
• A “Temporary Entity” that can be added to this application.

If the party who should be included in the Commission split is not a Team member or a Contractor on the account, they may be added:

A summary has been added after each Split, so you can see the commission split results in real-time, as you are closing the application.

Questions?

If you have any questions about this topic or anything else, please get in touch with our Support Team. You can email us at <Support@LoftyWorks.com> or call us on +44 330 321 3500.