Enter a DA - DA Entry Part 2

DA #

The DA number and the street name will pull automatically from the DA Entry – Part 1 screen.

Comments

Click the Comments button to enter any comments about this DA that you would like to save.

NOTE: These comments appear on the printed DA.

Price

Enter the sale price of the property as shown on the contract. At closing, update the sale price to reflect the actual amount on the closing statement. This amount is printed on the Closed Volume Report. For personal transactions with no Company Dollar (class O), enter zero for the price.

NOTE: For a lease or referral, enter the price volume as per your Market Center’s guidelines and in accord with your state’s rules and requirements.

NOTE: For note payment or adjustment DAs, enter the price the property was sold for only in the first DA. Enter zero in the price field for all subsequent note payment or adjustment DAs on the same property transaction. If the price was entered incorrectly on the first DA, enter only the correction amount in the adjustment DA.

NOTE: Please refer to the KW Policies & Guidelines Manual for guidelines regarding personal transactions.

Concessions

Enter the total amount of concessions-to-close approved by the Team Leader to be shared by the associate and Market Center. If an associate pays the concession, skip this field.

Entering Concessions on a DA - Approved

Units

The total number of units will auto populate. A Type B DA is 2 units. Type L and S DAs are 1 unit. Personal transactions and subsequent note payment DAs are 0 units.

NOTE: Please refer to the KW Policies & Guidelines Manual for guidelines regarding personal transactions.

Listing %

If this DA is a Type B or L, enter the commission rate for the listing side of the transaction. If this transaction is a referral, skip this field. If the listing commission is a flat fee (i.e., a lease), skip this field.

<Listing Commission>

If you entered a listing %, WinMORE automatically calculates the listing gross commission. If this transaction is referral income, skip this field. If the listing commission is a flat fee, enter the dollar amount.

Outside

Enter the total amount of outside referrals paid by all associates participating in this DA.

NOTE: If you want to remove an outside referral from a DA, go to the Agent Detail screen Outside Referral pop-up screen and delete it there first. Then come back to this field to zero out the outside referral.

Sales %

If this DA is a Type B or S, enter the commission rate for the sales side of the transaction. If this transaction is referral income, skip this field. If the sales commission is a flat fee (i.e., a lease), skip this field.

<Sales Commission>

If you entered a sales %, WinMORE automatically calculates the dollar amount of the sales gross commission. If this transaction is referral income, skip this field. If the sales commission is a flat fee, enter the dollar amount.

Other

If this transaction is referral income, enter the amount of the gross referral commission.

Bonus

Enter the total amount of bonuses earned by all associates participating in this DA.

Bonus and Royalty

Total

Commission

This field will auto populate and will be the total of commissions, other, and bonuses.

Tax

This field is not currently active.

Gross

Commission w/Tax

This field will auto populate with the total commission + tax. As tax is not currently active, it will be the same amount as the total commission.

Co-broker ID

Enter the co-broker in the transaction’s ID as entered in WinMORE. If you do not know the ID number, double-click the Co-broker ID field or press Alt + down arrow key to choose a co-broker.

For detailed instructions on adding a co-broker, see “Enter Co-brokers.”

Company Name

Click on this field and the co-broker’s company name will auto populate.

Amount

Only enter a co-broker amount if your Market Center received the total gross commission for the co-broker and it must be reflected on the DA to be disbursed to the co-broker.

Occasionally, and in some areas regularly, your Market Center will receive your Market Center’s gross commission as well as the co-broker’s gross commission. In the United States, paying the co-broker requires the Market Center to send the co-broker an IRS Form 1099.

If a co-broker’s commission is paid by your Market Center and not the closing entity, enter the tax ID number, name and address information accurately and completely into the co-broker record in compliance with Unites States IRS Form 1099 reporting requirements.

Agent Name

Enter the associate’s name who is working this transaction at the co-broker's office.

Mortgage Company ID

Press Alt + down arrow to search for the appropriate vendor. If this is a cash transaction, select “Cash.” If the vendor is not listed, select Setup a New Mortgage Vendor for this DA.

Name

The name of the mortgage company will auto populate.

Loan Amount

Enter the loan amount.

Loan Officer

Enter the loan officer.

Loan Type

Select the loan type: Conventional, FHA, VA, Cash, or Owner Carry.

Closing Company ID

Press Alt + down arrow to search for the appropriate vendor. If the vendor is not listed, select “Setup a New Closing Vendor for this DA."

Name

The name of the closing vendor will auto populate.

File #

Enter the closing entity file number for this transaction.

Closing Officer

Enter the name of the closing officer.

Fax

Enter the fax number for the closing entity.

Warranty Company ID

If a home warranty is purchased for this transaction, press Alt + down arrow key and choose a home warranty company. For detailed instructions on adding a home warranty company, see

“Enter Home Warranty Companies.”

Name

The name of the warranty company will auto populate.

File #

If a home warranty is purchased for this transaction, enter the home warranty company’s transaction ID number.

Type

Select the type of transaction:

L: Listing Sold

S: Sale

I: Inside Referral

O: Other – Referral Income

NOTE: Please refer to the appendix for a list of valid DA Type/Class combinations.

Class

Select the DA class code:

P: Property

L: Lease

R: Referral Income

O: Other (personal transaction with zero company commission)

NOTE: Please refer to the appendix for a list of valid DA Type/Class combinations.

NOTE: Please refer to the KW Policies & Guidelines Manual for guidelines regarding personal transactions.

Agency

Enter the agency code for this associate:

B: Buyer Agency

S: Seller Agency

D: Dual Agency

O: Other

Unit

Enter the unit or portion of a unit assigned to this associate for this transaction side. Enter zero for personal deals and subsequent note payment DAs.

NOTE: Please refer to the KW Policies & Guidelines Manual for guidelines regarding personal transactions.

Gross

The total gross commission for this associate for this side of the transaction auto populates based on the unit entered.  However, if this is a zero unit DA, you must manually enter the gross commission amount for this associate.

Outside

If there is no outside referral paid from this associate, skip this field.

If there was an outside referral and an amount was entered for the Outside field on the DA Entry – Part 2 window, the Outside Broker Detail screen appears.

Enter WinMORE’s ID number for this outside broker. If you do not know the ID number, press Alt + down arrow to find it. If this outside broker has not yet been entered, you can enter it now by clicking on the Start window, then selecting Enter, then Outside Brokers.

For detailed instructions on entering an outside broker, see “Enter Outside Brokers.”

NOTE: When there is more than one outside referral for the same associate, enter both referrals here, making sure to allocate the money accordingly.

Bonus

If this associate did not receive a bonus, skip this field.

If this associate received a bonus on this transaction, enter the amount of the bonus. The following message will appear:

Click Split It or Associate as per your Market Center’s policy.

NOTE: Bonuses are usually split until the associate has capped.

Bonus and Royalty

Concession

If the associate paid all of a concession, skip this field.

If the Market Center is paying some or all of the concession, it must be approved by the Broker. See Entering Concessions on a DA - Approved

A series of questions appear designed to determine if the associate and the Market Center are sharing the cost of the concession based on the associate’s commission split percent if the Market Center is bearing the entire cost of the concession, whether the concession is reflected on the closing settlement statement, or whether the concession is paid “off the top.”

Gross

Commission Income

Gross commission income is the commission amount after outside referrals, bonus, and concessions. WinMORE automatically calculates this figure.

Tax

This field is not currently active.

Check Amount

Check amount is the amount of gross commission income after outside referrals, bonus, and concessions. WinMORE automatically calculates this figure.

Associate Split %

This is the percentage of gross commission that is disbursed to the associate based on the percentage entered into this associate’s record. See “Enter Associates” for more information.

Royalty Split %

This is the percentage of this associate’s share of the Franchise Royalty for this transaction based on the royalty split % entered into this associate’s record. See “Enter Associates” for more information.

Associate Commission

This is the amount of the associate’s share of the gross commission income after any bonuses, concessions-to-close (either shared by the associate and the Market Center or paid by the Market Center alone), and outside referrals, but before deducting E&O, associate royalty, inside commissions, and paid out. This amount is shown as “Associate Gross” in various WinMORE production reports.

E O Insurance

The default is the EO.INS value entered from the Start window under “Setup,” then “System Defaults.” If your Market Center bills your associates for E&O through AccountEdge, nothing will show here.

Associate Royalty

If your associates contribute to the KW Franchise Royalty Fee (most do), royalty is due from the associate based on the following formula: Associate’s Royalty Base Cap x Royalty Split % x KW Franchise Rate.

Usually this is: $50,000 x 100 % x 6% = $3,000

If in the rare event an associate does not contribute to the KW Franchise Royalty Fee, skip this field.

Inside Paid

Enter the total amount of inside referrals to be paid out of the associate’s commission to another in-house associate. Inside referrals do not earn the recipient any volume, GCI, or unit credit. WinMORE tracks this amount in order to accurately report the associate's income for tax purposes.

If an amount is entered, remember to add this associate on the Associates Participating on this DA window.

NOTE: Refer to the KW Policies & Guidelines Manual for guidelines on inside referrals. A referral from an associate who has capped to one who has not capped should be handled as a split transaction rather than an inside referral.

Concession Adjust

Please do not use this field.

Net Commission

WinMORE automatically calculates this field. Net commission is the amount of the associate’s commission for this transaction that will be included on their IRS Form 1099.

KW Cares

WinMORE automatically calculates this field showing the KW Cares deduction for this transaction based on the information entered into the associate record. However, if the associate desires to change this dollar amount, simply change this dollar amount in the KW Cares field.

NOTE: Always make sure you have written authorization for all deductions from an associate’s 1099 income.

KW Family Fund

Please do not use this field at this time. Encourage associates to donate to KW Cares, KW Kids Can, or the BOLD Scholarship.

BOLD

Scholarship

WinMORE automatically calculates this field showing the BOLD Scholarship deduction for this transaction based on the information entered into the associate record. However, if the associate desires to change this dollar amount, simply change it in the BOLD Scholarship field.

NOTE: Always make sure you have written authorization for all deductions from an associate’s 1099 income.

Deductions

WinMORE automatically calculates this field and displays a pop-up window showing the deductions for this transaction based on the information entered into the associate record. However, if the associate desires to change or add a deduction for this transaction, simply change the information in the Deductions Detail window.

NOTE: Always make sure you have written authorization for all deductions from an associate’s 1099 income.

To edit a deduction, change the amount and the Deductions Detail window for this associate’s deductions can be viewed and edited.

Entering Concessions on a DA - Unapproved

Concession to Buyer Not listed on HUD

Associate Check

WinMORE automatically calculates this field. It is the amount paid to the associate after all deductions.

NOTE: Sale of an associate's personal property can be processed at 100 percent to the associate, less E&O insurance and Agent Royalty if applicable. Collect a transaction fee per your Market Center’s policies, or bill the associate through AccountEdge associate bills for the personal transaction fee. Do not enter this fee into WinMORE as commission income—enter it as a deduction if the agent desires.

NOTE: Please refer to the KW Policies & Guidelines Manual for guidelines regarding personal transactions.

NOTE: Verify that your E&O insurance carrier covers associate personal transactions.

Company Commission

WinMORE automatically calculates this field. It is gross commission income multiplied by the Market Center split %. It is the amount of Company Dollar paid to your Market Center.

Pay to KW

WinMORE automatically calculates this field. It is the amount of commission paid to your Market Center plus E&O and Agent Royalty, if applicable.

Written Volume

WinMORE automatically calculates this field. The written volume is based on the price of the property.

NOTE: Enter zero price or volume for an associate's personal property sale. Please refer to the KW Policies & Guidelines Manual for guidelines regarding personal transactions.

Closed Volume

WinMORE automatically calculates this field. If the sales price changes from the time the sale is first entered to the time it closes and is posted, make sure this field is recalculated. Production is based on the actual price at closing.

NOTE: Enter zero price or volume for an associate's personal property sale. Please refer to the KW Policies & Guidelines Manual for guidelines regarding personal transactions.

Adjusted Volume

WinMORE automatically calculates this field. The Keller Williams Adjusted Volume is calculated as follows: gross commission income (less outside referrals plus bonus less concessions)/0.03

This is an equalizing method of calculating closed volume credit for Keller Williams Realty International awards.