When an associate is approved as a member of KW Commercial, they will begin paying a monthly membership fee. This monthly fee will be billed by the market center on the associate’s monthly market center invoice. The market center will then pay these fees to KWRI during transmittal, as associate tech fees currently are.
When an associate is in two market centers, there is not a way to designate which market center they want to pay through. The most recently joined market center will be billed even if the associate does no commercial closings in that market center.
Verify Commercial Associates on Monthly Billing
Download the “Commercial Associate Fee Billing” report on the 10th of each month to verify which commercial associates need to be billed for that month. This report is found on KWConnect>Reports> MC Financials.
For each associate on this list to be billed, add the KWC Membership Dues to their monthly invoice and book this amount to the Commercial Membership liability account.
The commercial membership fees for each commercial associate in the market center, will be added to the KWRI invoice during the transmittal process. The Profit Share calculation page shows the full Commercial fee amount in the ‘Total to KW” section.
When processing the KWRI invoice for transmittal, compare the profit-share calculation report to the Commercial Membership Fee liability account. This should match. If it doesn’t, review your transactions with commercial agents as well as the Commercial Associate Fee billing report to determine the error.
Compare the Profit Share Calculation Report (above) to the trial balance (below).
Hint: Is your Profit Share calculation report different from the Commercial Membership Fee liability account in your accounting software by a multiple of the monthly Commercial membership fee? If so, this most likely indicates the error is in the monthly membership fee billing to your associates.
When creating the invoice to KWRI, be sure to include the commercial fee.
What to do when an Associate is no longer a Commercial Member
In order for the market center to avoid being charged commercial fees, the Commercial associate will notify KW Commercial via email at email@example.com.
Have Questions? Please email MCASupport@kw.com