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COMMISSION GUIDELINES
COMMISSION GUIDELINES
•
Up to $150,000
- 7%
•
$150,000 - $750,000 - 6% of sales price
•
$750,000+
•
Minimum commission - $2,500 or above, percentages detailed above, greater
of either
- 5% of sales price
Bonus and marketing fee earned on a transaction are all yours when your side
meets half the above guidelines. Also, bonus will be paid to selling associate if
commission is a minimum of 3% on sales price of $150,000 or less.
Commission agreements on unlisted properties (FSBO):
•
Commission of 4% or more – The in-house bonus will be paid on half of
commission.
•
Commission of less than 4% will be paid at co-op level.
As a courtesy, please talk to your manager prior to committing commission
concessions involving the company portion of the commission.
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9.8.2014
COMMISSION SCHEDULE
2014 COMMISSION SCHEDULE
Let’s grow together. At ReeceNichols, the more you sell, the more you earn.
It’s simple; your earnings determine your commission rate for the following year. The
earning schedule below is for individuals; see team plan for additional details. On
August 31, the CPI-U 12-month average is used to determine the schedule for the
following year.
As a thank you for being on the ReeceNichols team, we have a detailed Loyalty
Program. Please reference the Agent Service Loyalty Program document for
additional information.
EARNINGS
SELLING
$0 - 17,590
LISTING
CO-OP
57.5
50
50
60
52.5
52.5
$29,979- 41,041
62.5
55
55
$41,042 - 52,766
67.5
60
60
$52,767 - 76,216
72.5
65
65
$76,217- 99,778
77.5
70
70
80
72.5
72.5
82.5
75
75
95
95
95
$17,591 - 29,978
$99,779 -134,954
$134,955 - 164,377
$164,378+
See 95% Bonus Plan
Looking for options? See the 95% Commission Plan
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9.8.2014
95% COMMISSION PLAN
2014 95% COMMISSION PLAN
Your opportunity to earn more.
To earn 95% on all transactions, you simply sign up during open enrollment on or before
January 1 or July 1. Below is a summary of the rates payable to ReeceNichols the first
day of each month. The company portion of commission is 5% of GCI with a minimum of
5% of a 3% side. Contracts written before enrolling in this plan will be paid out on the
Commission Schedule Plan in place when the contract was written.
Monthly Rates
Annual adjustment based on August 31 CPI-U 12-month average
Primary Licensee
$998
Paperwork Assistant
volume in prior year
First Selling Assistant
Additional Selling Assistant
Office Space
Team leaders take an override on all transactions
$268 No charge with more than $25 million closed
$497
$720
Based on office space needed at $5.25 per foot
January 1 or July 1 are also the dates you may withdrawal from the 95% Plan and return
to the Commission Schedule; written transactions will pay on the 95% plan. Your
commission schedule will be based on your earnings calculated as they apply to the
schedule. Please note, once you withdrawal from the 95% Plan, you’ll need to wait one
year before re-enrolling.
95% BONUS PLAN
The best of both worlds.
95% Commission Bonus Plan starts at $164,378 in earnings for both individuals and
teams - team here is defined as a team leader, one paperwork assistant and one
licensed buyer agent. A contract must be written within the year and closes in the
same calendar year for the 95% to apply.
Instead of paying monthly fees, this plan increases the $164,378 threshold by $50,000
for each additional person added to the team. For example, in addition to you and one
selling assistant you added 2 additional selling assistants, your threshold would be
$164,378 + $100,000 = $264,378.
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8.15.2014
95% PLAN REGISTRATION FORM
95% PLAN REGISTRATION FORM
To:
Accounting
Date: __________
Re:
_____________________________ ________________________________
Agent Name
Office
M onthly Rate
Monthly Rate is due on the first business day of the month. Current Agent
Service
Fee will be collected from sales upon closing.
Office Space – ($5.25) x ( _____ sq.ft)
=
$ _________
Primary Licensee
=
$
Administrative Asst. $268.00 x ______ (# of assistants)
Must have less than 2 transactions per year
=
$ _________
1st Selling Asst. $497.00
=
$ _________
Each Additional Selling Asst. $ 720.00 x _____ (# of assistants)
=
$ _________
=
$ _________
Total Monthly Fee
Effective Date
998.00
_____________________________
Agent Signature _____________________________
Date ______________
Manager Signature_____________________________
Date ______________
Accounting Signature __________________________
Date ______________
Contracts written before enrolling on the 95% Plan will be paid at current level.
Team leaders must override on all transactions. The company portion of
commission is 5% of GCI with a minimum of 5% of a 3% side. Team is not
approved until all the above parties have signed the form.
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8.15.2014
95% PLAN REGISTRATION FORM
Team Roster
Split
Team Leader
Paper work Assistant
First Buyers Agent
Buyers Agent
Buyers Agent
Buyers Agent
Buyers Agent
Buyers Agent
Buyers Agent
Buyers Agent
Buyers Agent
Buyers Agent
Page 2 of 2
8.15.2014
AGENT SERVICE LOYALTY PROGRAM
AGENT SERVICE LOYALTY PROGRAM
In recognition and appreciation for continued loyalty to ReeceNichols, we offer the
Agent Service Loyalty Program. This rewards our valued team members for their
commitment to their real estate careers and the Company.
20 YEAR PROGRAM
Agents attaining 20 years of continuous service with ReeceNichols are recognized
with a lifetime commission percentage. The percentage is the highest earned level
from their 18th, 19th or 20th year of service. This percentage will never decrease but
may increase based on increased performance after the 20th year of service. Once
increased after the 20th year, that becomes the new lifetime commission percentage.
UP TO 20 YEARS
For our agents which have not yet attained 20 years of service, they can feel secure
that their commission levels will never decrease more than one-step per year if their
production has an unexpected down year. However, they will always enjoy the
ability to raise multiple levels each year based on increased yearly earnings.
As an added benefit, if an agent has a year which did not meet their goals, they may
keep their level provided that the commission level was previously earned over the
preceding two years.
In addition, agents may always “buy back” their last earned level by paying the
company dollar difference (for example if an agent on a 70% co-op commission level
falls $1000 short of retaining their level, they can pay the company $300 to “buy
back” their level).
*Earned Level is defined as actual earnings on current year’s schedule.
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9.8.2014
AGENT SERVICES FEE
2014 AGENT SERVICES FEE
Bundled services to keep you online and in business.
Instead of billing sales associates monthly for every service used, ReeceNichols
Realtors have an Agent Services Fee (ASF) which covers the systems, tools and
services needed in today’s fast paced real estate industry. The ASF is $198.00 and is
collected from every closed side. When you sell your own listing, only one ASF will
be collected.
P erso nal Ree ceN icho ls W ebsi te
Agent.ReeceNichols.com
Full IDX
Full Mobile Integration
Lead Management Integration
P erso nal Ree ceN icho ls Em ai l
[email protected]
Active Sync
To day S tudio
Customizable Agent Dashboard
Online Forms and eSignatures
Home Match
Reverse Prospecting
Listing Alert
Action Plans
e-Letters
Trendgraphix
Co a ching, Tra ining, Educa ti on
Continuing Education
Guest Speakers
Webinars & Archives
NT SERVICES FEE
E & O C ove rage
Ce ntrali ze d S how ing Se rvice
M obil e D ocum ents
Personal Fax Line
Scan to Email
Techni ca l Se rvice C ente r
Weekdays 8 am - 5 pm
Help.ReeceNichols.com
M ultifunction Devi ces
Full Color Copies in all Offices
A gent S ervice Ce nte r
Iron Port Spam Filter
Common Area Computer
• Microsoft Office Suite
• Outlook
Brand Ma rke ting
Television, Radio, and Online Advertising
Online Recognition
Discounts: For sales associates on the Commission Schedule, the ASF is discounted to
$100 after 75 transactions. For teams, the fee is discounted to $100 for the team leader
after 75 transactions and 30 per selling team member.
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10.31.2014
EARNINGS POTENTIAL
EARNINGS POTENTIAL
When commissions are calculated in a real estate transaction, you would consider
the brokerage fee of the property, amount received by your company and your
commission split with your company.
Exam ple:
Sales price of Home
Commission Rate
$175,000
x 7%
Gross Commission
$12,250
50% to Listing Agency
$6,125
50% to Selling Agency
$6,125
Your Share after splitting 50/50
with your company
$3,062.50
“In-House” selling Bonus
$3,522.00
*The commission schedule at ReeceNichols is in your favor, commencing with a 50/50
split. Your earnings will be considerably more due to “in-house” transactions which are
computed at a higher commission split. Your opportunity for “in-house” transactions are
greater due to the extensive ReeceNichols market share.
Planning Your Incom e:
Hom e Sold
Approx. Annual Incom e**
1 Home per month
$36,750
2 Homes per month
$73,500
3 Homes per month
$110,250
4 Homes per month
$147,000
**These amounts will be higher because of the ReeceNichols Graduated Commission
Schedule.
Note: Expenses are tax deductible and tax withholding is the sales associate’s
responsibility. Additional income may be generated from local and national referrals.
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8.12.2014
FOREFRONT
ForeFront provides you the insight into ReeceNichols, allowing you to use every tool,
resource, and person to your advantage. We are the market leader and we have over
1,900 agents that have perfected their business. We tap into those resources as much as
possible and will continue to offer them to you during ForeFront and every day after.
PHASE ONE
ReeceNichols Orientation and Digital Real Estate
Collective COI, family of services, corporate, more buyers for your sellers and more
sellers for your buyers, integration
Spend the day in the office, attend sales meeting, take a tour
Prospecting Protocol
Leveraging the data for consumer benefit, collective COI (Action Plan Manager),
exposure
Buyer Protocol
Listing Alert, Market Knowledge, mobile access, payments mobile
Seller Protocol
Collective COI, more buyers for sellers and more sellers for buyers, exposure,
and mobile
PHASE TWO
Focus on Opens, Expireds, FSBO, and COI
Set up your COI, visit with your HomeServices Lending loan officer, attend
additional classes, view webinars, make phone calls, attend sales meeting, create
flyers, host an open house, practice dialogue, much much more.
PHASE THREE
Continue building your COI, attend on-going training, activate your Annual
Prospecting Action Plan and ask lots of questions. Remember to view the Training
Calendar often to see what classes are available.
2014 ForeFront registration and scheduling details are online on the Training Calendar. All
sessions are at the Granada Conference Center; the week class is held each month is listed
below.
January 27
February 24
March 24
April 21
June 9
July 28
August 25
September 29
October 27
December 1
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9.8.2014