Please Read Before You Submit a Request:
All royalty adjustment requests are time sensitive and must be submitted to firstname.lastname@example.org within 6 months of the royalty error or variance to be reviewed.
- All requests must be submitted from the market center's official email address (email@example.com) with an explanation and complete, current reports by the last business day of the calendar month by 5 pm CT in order to be reviewed before transmittal. Any request received AFTER 5 pm CST on the last business calendar day of the month will be deferred for consideration in the following month's transmittal.
- Franchise Royalty exceptions occur due to an overpayment or underpayment of royalty to KWRI and must be reviewed for approval. Not all exceptions qualify for an adjustment.
- Franchise Royalty adjustments can be entered during transmittal ONLY if written approval has been provided by KWRI. The adjustment will decrease or increase the amount of royalty due to KWRI during transmittal in the month the adjustment is entered. There will be no draft withdrawal from or refund deposit to the market center bank account for the adjustment amount.
- If a FR adjustment is needed due to an associate being in multiple market centers, the associate's current Anniversary DA Royalty reports (with details, not totals only) from BOTH/ALL market centers are required before the FR adjustment can be reviewed and approved/denied. You can find how to track royalty between several market centers here!
- If a FR adjustment is needed for a couple sharing a cap, they must meet the criteria hereand both associate's Anniversary DA reports (with details, not totals only) are required. Please confirm all criteria has been met prior to requesting an adjustment for this situation.
Qualifying Reasons for a Royalty Adjustment:
There are six qualifying reasons for requesting a royalty adjustment. Reminder: adjustments may qualify only when the original DA is within the 6 months time period.
- Prepaid Royalty - must be clearly shown on the DA and follow Adjustment DA - Prepayment of Market Center Cap (U.S. and Canada)
- Personal Transaction - must identify the amount of commission paid to KW listed on the HUD; only 2 per 12 month period allowed
- Married/Overpaid - issue the refund using Adjustment Da - Overpayment of Royalty and send the required reports; when a married couple is sharing a royalty, be sure to follow the steps in Married Couples - Syncing Royalty Anniversary Date and Sharing Caps to properly track their caps and prevent overpayments moving forward
- Overpaid in One or More Market Centers - both market centers must issue the appropriate refund using Adjustment Da - Overpayment of Royalty and supply the required reports; when an associate is dually affiliated or has transferred mid-royalty year, be sure to follow the steps in Tracking Caps Across Multiple Market Centers to properly track their caps and prevent overpayments moving forward
- Processed an Outside Referral or Corrected the Associates on a Closed and Transmittal Transaction - add/remove the outside referral using Adjustment DA - Outside Referral or correct the associates paid on a DA using Adjustment DA - Correcting Split between Associates and send the required reports; adding an outside referral affects royalty by appearing to issue a refund (a negative number in the royalty field); this is correct.
- Company Dollar Transfer - while the steps in the articles for Adjustment DA - Company Dollar Transfer (Sending) and Adjustment DA - Company Dollar Transfer (Receiving) include how to address the resulting royalty exception, please always report this to firstname.lastname@example.org for tracking purposes.
To request a Franchise Royalty Adjustment:
Please send an email to email@example.com with an explanation as to why you need a FR adjustment. If this is due to an overpayment of royalty by the associate, you must first refund the royalty to the associate using an adjustment DA (instructions here), then request the adjustment for the market center with all reports included in the email.
A royalty adjustment is requested in the amount of $XXXX.XX for associate FIRST LAST (MORE ID ###*####) for [insert one of the qualifying reasons for an adjustment].
This is for DA##### and is a personal transaction. The commission amount of $475.89 is listed on the HUD.
Attach the following reports in PDF format and including all pages:
1. Royalty Anniversary DA Report detailed report (this report is required and must be submitted for each associate and each Market Center involved with details, not totals only) .
Here are the step-by-step instructions to pull the Anniversary DA Royalty report
- Go into Winmore
- Click on Print/Associate Reports/Anniversary DA List
- Select Royalty Anniversary
- Click Individual
- Search for the associate’s name and click ok
- Say NO to print agent totals only question
- Say NO to new page for each agent question
- Click on "a file"
- Save it on your desktop as a text file
If this involves transactions in a prior anniversary year (still required to be within 6 months), see the ad-hoc report below.
For married couples, the Royalty Anniversary Report for BOTH members of the couple are required.
For an agent dually affiliated or transferred during a royalty year, the Royalty Anniversary Report from BOTH market centers is required.
2. Closed Sales Volume by Associate report (this report is optional and may be requested by KWRI if needed as additional supplement report for all parties involved and all Market Centers involved). This is located under WinMORE/Month End/EOM Reports.
3. If this adjustment request is for a personal transaction, you will need to send the Closing HUD. This is required for all personal transactions to verify the associate as either the buyer or seller and to verify the amount of commission listed as paid to Keller Williams.
4. If this adjustment request is for a married couple sharing a royalty cap:
- Validate that criteria for sharing a cap has been met: i.e. must file joint federal tax return. (Be sure to let us know if you have verified that they are indeed filing a joint federal tax return--no documentation is necessary).
- Verify that their royalty anniversary dates have been synced
You can find more information here.
Prior Year Anniversary Ad-Hoc Report (if applicable):
This Ad Hoc is designed to pull the exact same information that is listed on the Royalty Anniversary DA report for the prior anniversary year data for that associate. Below are instructions on how to pull that report if this applies to your request:
Copy and Paste the below ad-hoc "as is" into the List Command field of the ad-hoc window in Winmore/Other/Ad Hoc Reports. DO NOT modify the ad-hoc script.
- Select Other
- Select Ad Hoc
- Copy the script to the List Command field: LIST AGT_TRANS BY NAME_L BY CLOSE_PERIOD WITH STATUS = "P" AND WITH DATE_CLOSED BETWEEN '%FROMDATE%' AND '%TODATE%' AND WITH AGENT = '%MOREID%' BREAK-ON NAME_L DA AGENT_ID2 AGT_ROYALTY_DATE DATE_CLOSED FULL_STREET TOTAL GCI TOTAL ROYALTY_BASE TOTAL TOT_ROYALTY TOTAL AGT_ROYALTY
- Click Go
- When prompted, select the Agent
- When prompted, provide the start and end dates for the Associates Prior Anniversary Year (not calendar year, royalty anniversary year) in the following format for Enter Starting Date and Enter Ending Date: MM/DD/YYYY. You will need to do this only when prompted and will not change anything in the Ad Hoc script below.
Note: If you get errors about a field not being recognized, please confirm the ad hoc script is copied and pasted directly from the knowledge base to WinMORE with no extra spaces or missing the first or last character. Double check any " or ' as these can be interpreted incorrectly particularly when coping the text from the internet and pasting into WinMORE's ad-hoc window. Erase and retype any ' or " punctuation.