In the world of real estate, every dollar counts. But too many brokerages are still losing thousands because of simple commission mistakes. These aren’t just small errors, they can create serious financial headaches, upset your agents, and even hurt your reputation.
Let’s break down the most common commission mistakes and how a software like Loft47 helps you avoid them completely.
Mistake #1: Miscalculating Commissions
Manually calculating commissions can open the door for human error. One wrong number in a spreadsheet can throw off your books for months. And if your deals involve tiered plans, fees, or special splits, the math can get messy fast.
How Software Like Loft47 helps:
Our software automates commission tracking. Once you enter the deal, the software does the heavy lifting for you. It applies your brokerage’s plan, calculates fees, and keeps everything accurate. No more spreadsheets. No more stress.
Mistake #2: Misapplied Splits Between Agents
Commission splits can sometimes be complicated. Depending on the parties involved, a commission split can be between teams, mentors, or multi-agent deals, which can ultimately complicate things. One small misstep and someone isn’t getting paid what they earned.
How Loft47 helps:
Loft47 lets you build customized commission plans that match your brokerage’s model, no matter how complex. With advanced commission structures built into the software, you can set up rules for splits, bonuses, deductions, and more. Loft 47 automates it all, and is user-frienldy.
Mistake #3: Missing or Delayed Payments
Missing a commission payments don’t just look bad, they create tension and trust issues with your agents. If payments are delayed or forgotten, you risk losing top talent, or straining professional relationships.
How Loft47 helps:
Loft47 keeps everything on track. With real-time updates and smart automations, you’ll know when payments are due, who needs to get paid, and how much. The platform even tracks cash flow so you can forecast future payouts and avoid surprises.
Mistake #4: Manually Managing Accounting
Manual accounting is slow and leaves room for human error. Manual accounting like reconciling your books, chasing down receipts, or correcting journal entries eats up valuable time.
Here’s how Loft47 helps:
Loft47 automates ledgers and connects with your accounting software. It tracks every transaction in real-time, keeps you audit-ready, and gives your accountant everything they need to close the books.
ALSO READ: I Have Hundreds of Agents and Too Many Split Plans. What can automate this?
Why Loft47 Is More Than Just a Commission Engine
Loft47 isn’t just here to fix mistakes it’s designed to help brokerages grow. It’s a full transaction management system built for the real estate world.
With Loft47, you can:
- Track commissions from contract to close
- Create customized fee and commission plans
- Forecast revenue and measure performance
- Automate accounting and stay compliant
- Sync with your favorite real estate tools (no double entry!)
Mistakes do happen, but they don’t have to anymore. Loft47 gives you the tools to stay organized, pay accurately, and focus on what really matters: closing deals.
Start managing your transactions with more confidence and less chaos. Learn more at Loft47.com