*Set minimum exchange commission/fee - configuration option

This guide has been reviewed against our global client base and classed as relevant to the following regions: UK, APAC, UAE

A configuration option is available which, when enabled, allows a minimum exchange commission/fee to be specified for all properties

To enable this configuration option, click here to contact Reapit Support

1. Minimum commission/fee configuration

When enabled, your business can decide how the minimum commission/fee configuration will work:

It can be set to a specific figure
OR
It can be based on the property exchange price, for example: 1% of the property price
It is also possible to allow a user, or group of users, to be able to change the minimum fee value (per property)

2. Minimum fee amount

Access the property financial screen:

On the property record, click Financial
The Min Fee field displays the minimum figure that will be used on exchange

A configuration setting may restrict access to edit this field, as outlined in step 1

In this example:

Minimum fee configuration is set to 1% of the property price
This user is allowed to edit the Min Fee field
(Where not enabled, the field is greyed out)

3. Property exchanged

When the property is exchanged and when the Commission Details stage of the Exchange Wizard is reached

If the fee the agent is due to charge is less than the minimum fee permitted:

The Company's fee figure will use the Min Fee value

In this example, the fee was due to be £4,500 (i.e. 0.75% of the property price) and the minimum fee configuration is set to 1% of the exchange price

For this scenario, the Company's fee is automatically changed to 1% of the price (i.e. £6,000)

4. Changing the Company's fee at exchange

If the user processing the exchange attempts to change the Company's fee figure:

A prompt will be displayed

*Set minimum exchange commission/fee - configuration option

Related articles