Are you a broker-owner that’s tired of commission tracking, accounting, and paying out your agents? In this video, I’m going to show you how we automated our commissions here at Sweet Assist. We’ll look at how our system works to see if this can solve your commission frustrations.
Let’s be honest: one of the least exciting things for all of us brokers to do is commission tracking, accounting, and paying out our agents. At Sweet Assist, one of the biggest pain points that we have as a broker-owner with 1,100 agents is commission tracking, payouts, and accounting on the backend.
Let’s be honest: it’s not a lot of fun. Before Sweet Assist, we had four or five different individuals with their hands on transactions, making sure that we were able to go ahead and connect all of the dots. This means that we had four payrolls just to handle this problem. However, Sweet Assist solves all of that—and here’s how it works.
Renewing Commission Caps
Commission tracking is key. We have lots of different systems with lots of different commission plans that can be flat fees, percentages, tiers, and referrals. If you don’t have that automated, as I mentioned, it can take a tremendous amount of bandwidth.
With Sweet Assist, all of that is done automatically. For example, if you have an agent that’s capping at $5,000 or $10,000, the system will do all of that automatically for you. It will also renew that cap on an annual basis. This has saved us a tremendous amount of money, not to mention a whole lot of time.
Pay Outs And Accounting
On top of that, after you’ve gone through all these commission plans, it’s really a pain in the neck to go ahead and pay those agents out. With Sweet Assist, you can set up an ACH free of charge and pay your agents directly from the system. They will get paid within 24 hours, as long as that ACH is initiated before 2:00 pm central that day.
This has saved us a tremendous amount of money. People would always have to cut those checks, and this allows us to be way more efficient in time. The biggest pain point was at the end of the year when we had to reconcile everything. Imagine how much work it takes to manage 1,100 agents and 6,000 transactions annually if you don’t have an automated system where you can click a button and take care of everything.
With Sweet Assist, we have a QuickBooks integration that allows you to migrate all of the data directly from Sweet Assist into your QuickBooks Accounts. At the end of the year, you can go ahead and pull those 1099s and any reports that you want very easily. It will save your accounting team a bunch of time, effort, and energy.
While most of you will probably look at this as just regular day-to-day operations, what is the one thing you can’t get back? It’s time. So if you want to learn more about how Sweet Assist can save you time, a whole lot of energy, and give you peace of mind, be sure to visit our website.
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