Q. If I have a transaction that is a lease, and the building is not ready, how do I pay the associate? I have only received half the commission because the tenant has not moved in and will not pay the associate the full amount until that time. The associate is not expecting the other half of the commission any time soon, but would like to get paid for the half they have now.
A. This is considered a Note Payment. There is a special procedure for payments for Note DAs. The first note payment is assigned a DA Type L (listing sold), S (sale), or B (both sides) with full price and unit and the amount of commission received. Subsequent DAs(Payments) are assigned a DA Type of NL (no-unit listing), NS (no-unit sale), or NB (no unit, both sides) with zero unit and zero price and the amount of commission received.