Insert Agent's Current Split % with the office.

If an agent split on an individual commission is varied (e.g. 50, 55, 60, etc. on the same commission), you will need to calculate the split % manually. The example below assumes this is the Agent's first transaction and they are starting at a 50/50 split as per the ICA.

To calculate the Agent Current Split % field percentage in this example, you divide the amount the agent is receiving by the gross commission. Let's go through the calculation step by step:

• Gross commission: $500,000
• Agent's split on the first $100,000: 50% = $50,000
• Agent's split on the next $80,000: 55% $44,000
• Agent's split on the next $80,000: 60% = $48,000
• Agent's split on the next $60,000: 65% = $39,000
• Agent's split on the remaining balance of $180,000: 70% = $126,000
• Agent's split on the remaining balance of $180,000: 70% = $126,000
• The total amount the agent receives is $50,000+ $44,000+ $48,000+ $39,000 +$126,000 = $307,000.

To calculate the Agent Current Split % field, divide the amount the agent is receiving ($307,000) by the gross commission ($500,000):

Agent Current Split % $307,000/$500,000 ~ 0.614 = 61.4% Therefore, the Agent Current Split % field should be manually entered as 61.4%.