Browse


Narrow Search

Feature
Role
Can't find what you need?
Contact Us

Reset Search
    Search Knowledge Base
 
Article

Booking a Sale

« Go Back

Information

 
Summary
-

Once the deal is ready to be booked, go to the comp detailed view and click the “Book Sale” button.

Sale Details .jpg

 

Step 1: Confirm Sale Details

All the fields that are already available on the comp will be filled in automatically. Enter the missing fields and hit the next button.

Sale Details 1.jpg

Step 2: Confirm Sale Summary

This step gets all the information related to the sale. Enter the following information

  • Close date - Date the deal is closed

  • CAP Rate - Capitalization rate

  • Cash-on-Cash (%) - Annual before tax cash flow / total cash invested

  • Occupancy at Close - Percentage of the property that is occupied at the time of close

  • Net Operating Income - Income from property minus the financing costs and taxes

  • Sale Price - Closing price

  • Asking Price - Seller’s asking price

  • Down Payment - Initial payment based on the agreement

  • Mortgage Amount - Mortgage financed portion of the sale price

Confirm Sale .jpg

Step 3: Commission Items

This step allows you to create multiple line items for commissions that are part of the deal. These commission items are shown in the “Sale Commission Items” section in the invoice

  • Type - This is the type of the commission item. We have included the most common types that we have come across.You can add custom values to this picklist. This field is for reference only.

  • Area - This field would be filled in automatically if the area is already filled in.

  • Amount - This field is used in scenarios where the commission is calculated as a % of an amount or $/SF

  • Total - Read only field that shows the total that will be used in calculating the commission

  • Rate Type - Select how commission is calculated from the total.

  • Commission - This field takes both percent and $ values based on the selected rate type as per the table below.

  • Commission($) - Provides the actual commission value for the line item

 

Type

Prefered Rate Type

What to fill in Amount?

What to fill in Commission?

% of Sale Price

% of Total

Sale Price

Commission %

% of Flat Fee

% of Total

Flat Fee

Commission %

Negotiated Fee

Flat Fee

This field is not applicable in this scenario

Negotiated commission in $

Other Brokerage Fee

Flat Fee

This field is not applicable in this scenario

Other fee in $

Bonus per Sq.Ft

Amount/SF

Bonus amount per Sq.Ft

Bonus $/Sq.Ft

 

Sale Commission Items.jpg

Step 4: Commission Splits

This step allows you to review all the agents and their percentage of gross commissions. You cannot navigate to the next step unless the percent allocated is equal to 100%.

 
  1. To add an internal agent

    1. Click on the “Add Internal Agent” link to add a new line.

    2. Click on the search icon and select the agent. Note: The internal agent must be added as a user in the Apto org to add them to the deal.

    3. Select a role. A role can be buyer rep, seller rep or any role that you would like to track.

    4. The commission can be either entered as a percent or amount. Apto would auto calculate the amount when a % is entered and vice versa. Selection is saved and later used when the data is retrieved again via Edit Commission page or via opening the Book Sale wizard again.

      1. To enter a percent, click on the % button and enter the split percent that applies to the agent.

      2. To enter an amount, click on the $ button and enter the amount that applies to the agent. 

  2. To add an external agent

    1. Click on the “Add External Agent” link to add a new line.

    2. Click on the search icon and select the agent.

Note: The external agent must be added as a contact in the Apto org to add them to the deal.

  1. Select a role. A role can be buyer rep, seller rep or any role that you would like to track.

  2. The commission can be either entered as a percent or amount. Apto will auto calculate the amount when a % is entered and vice versa.

    1. To enter a percent, click on the % button and enter the split percent that applies to the agent.

    2. To enter an amount, click on the $ button and enter the amount that applies to the agent.

 

Sale Commission Splits.jpg

Step 5: Holdbacks

This step allows you to enter any holdbacks that need to be taken out of the commissions at different levels. Holdbacks can be created directly from the comp detail page or can be created at the time the deal is booked. Types of holdbacks supported are

  1. Deal level - the expenses is taken out of the total deal commission and it impacts all the internal and external agents gross commission.

  2. In-House level - the expenses taken out of the In-House gross commission and it impacts only the internal agents participating in the deal.

  3. Agent level - the expenses taken out of an Agent’s net commission and it impacts only the selected agent.

 
  1. To add a holdback click on the “Add Holdback” link under the respective category to create a line item in the table

  2. Pick the type of holdback. This picklist can be customized

  3. Provide a text to describe the expense

  4. Pick a user if the holdback is taken out of an Agent’s net commission

  5. Enter an amount or percentage of gross commission

Step 6: Invoices

This step allows you to enter all the details needed to generate the invoices.

Select all the fields that are common to all the invoices

    1. Recipient - Click the search icon to pick the contact you would like to send the Invoice to.

    2. Recipient Account - Click the search icon next to this field to pick the account related to the recipient contact.

    3. Bill To - The invoices could be billed to either the recipient account or property ownership entity.

    4. Default Invoice Template - The invoice template applied to all the invoices related to this comp.

  1. Default Payment Information - Payment information applied to all the invoices related to this comp.

To add invoices

  1. Click on the Add Invoice link under Set Up Payments

    1. Due Upon - This field is used for reporting and pick the stage at which the amount is due.

    2. Due Date - The due date that is displayed in the invoice

    3. Notes - Additional text that is displayed under Notes section of the invoice

    4. Enter the commission due in either percent form or amount.

Repeat the above step to setup multiple invoices but make sure that the unbilled gross commission is 0 before moving on to the next step.

 

Sale Add Invoice.jpg

Step 7: Summary

Review everything that was entered and confirm. You can go back to any step by using the edit link in each section of the summary or by using the navigation bar.

 

Clicking Book Deal will update the comp, insert, update or delete anything related to the comp and mark the comp as booked. If any of the internal agents have a commission plan that calculates upon invoice booked, then commission payments will calculate net commissions at this point.

 

Sale Summary .jpg


Next: Booking a Lease
 

Feedback

 

Was this article helpful?



   

Feedback

Please tell us how we can make this article more useful.

Characters Remaining: 255

 

Apto