Create a Lease Transaction (Landlord/Tenant) in CommandMC

While agents can create and submit Commission Requests within an Opportunity, Market Center leaders have the ability to directly create Transactions in CommandMC on behalf of agents.

• When the MCA creates a Transaction, it will not connect back to an opportunity. There is no two-way communication between Transactions and Opportunities.
• This also allows you to create and process a Transaction for an agent who has been removed from the MC.

There are 5 types of Transactions you can create in CommandMC: Sale, Lease, Referral Received, Company Currency Transfer, and Cap Pre-payment. This article is focused on Lease Transactions, in which you can create Transactions for Landlords, Tenants, or both in the same Transaction.

To create a Lease Transaction in CommandMC: 

Access

1. Log in to https://agent.kw.com with your KW login credentials.

2. At the top of the page, click CommandMC.

3. Click to access the Transactions Applet, , on the left side of the page.

4. Click Create Transaction, at the top right of the page.

5. Select Lease, then click Start Transaction.

 

General Information

1. At the top of the page, click in the Side field and select Landlord, Tenant or Both.

• Selecting "Both" denotes that both sides of the Transaction are being managed by agents in your Market Center. This gives you the ability to enter full agent details (units, commission, deductions, etc.) for both sides of the Transaction.

2. Next, start typing in the Address field and select the listing associated with this Transaction.

• Landlord and Both Sides - the listing must be in the CommandMC Listings database (either pulled from the MLS or entered manually by leadership or the agent).
• Tenant - select the address from the general address search or create the address manually (at the bottom of the results drop-down).

3. In the Clients section, enter the Tenant Name and Landlord Name.

• You can click Add Tenant or Add Landlord to add additional clients, if needed.

4. In the Property section, select the Property Type (Residential, Commercial, Land), Classification, Price (Rent Amount), and Unit of Measurement Per Side (Units, Square Footage, Acreage).

• Depending on the Property Type you select, you will see different options for Classification and unit of measurement:
  • • Residential - you will see classifications specific to this property type (Resale, New Home, etc.) and will use Units as the unit of measurement.
    • Commercial - you will see classifications specific to this property type (Office, Industrial, etc.) and will use Square Footage as the unit of measurement.
      • Lease volume is not taken into account for awards purposes, and there are different ways to calculate lease volume (first months rent, total rent over term, etc.). The most important piece here will be the Commission amount, on the next page, but the best practice is to choose a volume calculation method and be consistent.
    • Land - you will see classifications specific to this property type (Agricultural/Livestock, Agricultural/Farm, etc.) and will use Acreage as the unit of measurement.

5. Use the Calendar Widget to select (or type) both the Contract Date and Closed Date.

• When typing these dates, the system uses the DD/MM/YYYY format.

6. Click Next to Commission Details, at the bottom right of the page.

 

Commission Details

As you start entering Commission Details, you will notice "Out of Balance" errors will start to appear on the left side of the page. Don't worry about these in this section, we will balance all of that out in the Agent Details section.

1. Now we need to enter the Commission Amount. You can either enter the direct Commission Amount, or enter the Commission Percentage (%) and the system will auto-calculate the Commission Amount.

2. If there is a Concession in the Transaction, enter the amount in the corresponding field. By default, the "Take Off the Top" toggle is selected, which takes the Concession total off of the Gross Commission in general.

• If you deselect the "Take Off the Top" toggle, you will need to select which party (Agent or Market Center), using the drop-down that appears, will take specific responsibility for the Concession.

3. If there is a Bonus, enter the amount in the corresponding field, then use the Split with MC toggle to determine how it should be paid out.

4. If there is an Outside Referral, click + Add Outside Referral in this section.

5. In the Agent Name field, search for and select the outside referral agent, which will autofill the Brokerage field.

The Agent Name field pulls from the Market Center's Vendor Database (Admin Applet). If you can't find the name you are looking for here, open a new tab in your browser (keep this up in the other), and add the new vendor (if this is the first referral from this brokerage), or add the additional representative to an existing branch. Once added, you should now be able to search for and select the new Agent Name in the drop-down, without having to refresh.

6. Now we need to enter the Outside Referral Amount (if applicable). You can either enter the direct Amount, or enter the Percentage (%) and the system will auto-calculate the Outside Referral Amount. Click Add Outside Referral, when ready.

7. Under the Total Commission, you can enter a Tax amount, if applicable. Enter the total amount, then you will see the Total Commission W/Tax reflect the new calculation.

• This is an optional field, as some localities require reporting that includes tax amounts.

8. If you need to add Co-Broker information, click + Add Co-Broker. In the Agent Name field, search for and select the Co-Broker agent, which will autofill the Brokerage field. Enter the Commission Amount, then click Add Co-Broker.

The Agent Name field pulls from the Market Center's Vendor Database (Admin Applet). If you can't find the name you are looking for here, open a new tab in your browser (keep this up in the other), and add the new vendor (if this is the first co-broker or referral situation with this brokerage), or add the additional representative to an existing branch. Once added, you should now be able to search for and select the new Agent Name in the drop-down, without having to refresh.

9. Click Next to Agent Details, at the bottom right of the page.

Agent Details

1. First, click + Add Agent, at the top right of the page, to add all of the agents, from your Market Center, who will be included in the Transaction.

• Once added, you can click Delete Agent, at the top left of the agent details, to remove an agent from the Transaction.

2. Use the Agent Name search to find and select each agent, from your Market Center, that needs to be added. The results will only include associates from your Market Center.

• If an agent you select is on a team, you will need to use the Team drop-down to denote whether the team is getting credit for the GCI, for this agent's part in the Transaction.
  • Leases don't contribute toward Awards for either Units or Volume, only GCI.
• Selecting a team here, or not, is what drives team reporting and KW Awards, make sure you make the correct selection here.

3. For the Side drop-down, if your agents are only handling one side of the Transaction, this drop-down will not be editable. If you selected Both, back at the top of the General Information section, use the Side drop-down to denote which agent is handling each side of the Transaction.

4. For each agent added, enter the number of Units/Square Footage/Acreage (depending on the property type), and the Commission amount. 

• In the Agent Commission Split field, if you need to distribute commission to another agent, select the percentage (or you can enter the flat amount in the Gross Commission field) you want for this agent, then you can distribute to another agent.
• Keep an eye on the number of sides involved and amounts to distribute, on the left side of the page. Each side added will need all of the Units/Square Footage/Acreage and Commission fully distributed.

5. Now, look at the left side of the page, in the "Left to Distribute" section. We need to distribute the balance amounts, for each of the 4 categories, to all of the agents who have been added to the Transaction, and ensure that each category shows a zero balance:

• Commission - either use the GCI Split Percentage field to enter the percentage split (e.g. 50% to Agent A and 50% to Agent B) or enter the flat Commission amounts for each agent.
• Concession - enter the flat Concession amounts for each agent.
• Bonus - enter the flat Bonus amounts for each agent.
• Outside Referral - enter the flat Outside Referral amounts for each agent.

6. In the Brokerage Fees section, enter any E&O fees (if applicable). The Royalty and Company Dollar amounts will auto-populate, based on what has been set up for each agent and how much they have paid in, to this point. But, you can edit these amounts, if needed.

7. In the Deduction section, any Recurring Deductions each agent has set up will auto-populate. You can edit any of these amounts, remove any deductions that have been added, and/or click Add Deduction to add any new Deductions needed.

8. On the left side of the page, ensure all of the totals have been balanced out to $0, then click Save Transaction.

Once saved, the Transaction will be in Approved status, where you will be able to close the Transaction once you are ready.