Booking a Personal Transaction (Royalty Only)
For more information, please visit the most recent Policy & Guidelines Manual section 188.8.131.52
If commissions are paid on the transaction (HUD), the sale or listing commission should be entered into WinMORE and match what is on the HUD just like a normal closing transaction. If commissions are not paid on the transaction (HUD), and the money to cover Company Dollar and/or Royalty is paid by the agent, the sales or listing commission amounts will be $0 as in the examples below.
- Complete page 1 of the DA as usual.
- Click Save/Part 2
- Since no commission is paid on the transaction (HUD), the sales or listing commission amount will be 0.
- On the associate detail screen, add the associate to the DA.
- Gross commission should 0.
- Associate splits will be 100%.
- Associate commission should be 0.
- Tab through the rest of the DA, ensuring you enter the royalty amount in the royalty field.
- The Pay to KW amount will equal the amount you collected for royalty.
- Post the transaction and process the deposit as usual.
- IMPORTANT: This will create a royalty exception, which will likely require a royalty adjustment from KWRI. Please refer to this article to resolve your royalty exception as soon as possible after completing this transaction: