1. Objective
This SOP defines how a Virtual Assistant (VA) tracks every commission from the moment a transaction goes under contract through the moment the commission is received and reconciled. Commission is the agent's revenue. Missing one, mis-calculating one, or failing to follow up on a delayed disbursement is a direct hit to the agent's income.
The VA's role here is bookkeeping and follow-up, not advisory. You document exactly what the agent has agreed to in the listing or buyer-broker agreement, log the expected disbursement, prepare any required brokerage invoice, confirm receipt after closing, and chase any payment that doesn't arrive when expected.
Where this SOP starts: A transaction (listing or buyer-side) goes under contract and the commission terms are documented in the executed contract.
Where this SOP ends: The commission has been received, reconciled against the expected amount, and the transaction is closed in the commission tracking log.Success looks like: The agent always knows what's owed, when, and from whom. No commission is ever forgotten. No payment is delayed without the VA having already started the follow-up. Every commission reconciles against the contract terms without surprise deductions.
2. Your Role & Boundaries
2a. What you handle independently
- Extracting commission terms from every executed contract (listing agreement, buyer-broker agreement) and logging them in the commission tracking log
- Calculating expected gross commission, deductions (co-op splits, referral fees, broker splits), and net commission based on the agent's documented splits
- Preparing brokerage invoices per the agent's brokerage-specific template and submitting per the documented process
- Confirming commission receipt after closing by checking the agent's designated bank feed, brokerage statement, or the agent's confirmation
- Flagging any commission that is overdue, short-paid, or differs from the expected amount
- Tracking outgoing and incoming referral fees per Section 7
- Producing the monthly commission status summary per Section 8
2b. What requires agent approval before acting
- Any change to how a specific commission is calculated (e.g., a verbal adjustment with a referring agent)
- Any communication with the brokerage's accounting or commission department beyond standard invoice submission
- Any dispute or follow-up with another brokerage or agent about a co-op commission or referral fee
- Entering non-standard deductions (fees, charges, advance draws) into the commission calculation
- Writing off an unpaid commission as uncollectible
2c. What you never do
- You never negotiate on the agent's behalf under any circumstances.
- You never provide pricing, legal, or strategic opinions to any party.
- You never sign or initial any document on behalf of the agent, client, or any party.
- You never communicate directly with the other party's client.
- You never advise the agent on whether a commission structure, split, or fee arrangement is fair, legal, or compliant — the agent and brokerage handle that.
- You never disclose commission amounts or splits to any party outside the agent's explicitly approved recipients (co-op agent's office for invoicing purposes is allowed; the agent's clients or other agents are not).
- You never alter the commission terms in an executed contract, even if the agent verbally tells you to — any change requires a written amendment.
- You never access or touch the agent's personal bank account directly — confirmation of commission receipt is via the agent's statement or explicit confirmation, never VA-initiated banking.
When in doubt: Log exactly what the contract says and what the agent tells you. Do not infer or reconcile on your own authority.
3. Schedule & Trigger
This SOP runs on two triggers — one per-transaction, one monthly.
Per-transaction trigger: Transaction goes under contract. This is typically the handoff from Transaction Coordination Kickoff — once the executed contract is filed, the VA extracts commission terms and creates the tracking log entry.
Monthly trigger: First business day of each month. Run the monthly commission status summary per Section 8 and flag any overdue items.
Expected turnaround:
- New transaction: Commission tracking log entry created within 24 business hours of the TC kickoff.
- Post-closing receipt confirmation: Within 5 business days of the scheduled closing.
- Overdue follow-up: Same-day notification to agent once a commission passes 10 business days overdue.
Sequence context: This SOP begins at contract execution (predecessor: Transaction Coordination Master), runs in parallel with transaction coordination SOPs (TC-02 through TC-14), and concludes after Closing Day when the commission is disbursed. Monthly totals from this SOP feed into Monthly Business Metrics Report.
4. Commission Calculation
4a. Extract the commission terms
For every transaction, pull the following from the executed contract and log in the commission tracking log:
| Data point | Source |
|---|---|
| Transaction side | Listing or Buyer |
| Property address | Executed contract |
| Client name | Executed contract |
| Sale price | Executed contract |
| Total commission percentage or flat fee | Listing agreement (listing side) or buyer-broker agreement (buyer side) |
| Co-op commission (the other side's share) | Listing agreement |
| Expected closing date | Executed contract |
| Agent's brokerage split | Agent's brokerage agreement — confirm during onboarding |
| Any referral fee | Referral agreement (if any) |
| Any other deductions (transaction fee, compliance fee, etc.) | Brokerage policy — confirm during onboarding |
4b. Calculate expected commission
Work through the calculation in this order for every transaction. Show your work in the commission tracking log so the agent can audit.
Sale price: $[X]
Total commission (%): [Y%]
Gross commission: $[X × Y%] = $[A]
Co-op commission (if listing side): $[A × co-op%] = $[B]
Agent-side gross: $[A - B] = $[C]
(If buyer side: agent-side gross = gross commission attributed to the buyer-broker)
Referral fee (if any): $[C × referral%] = $[D]
Post-referral commission: $[C - D] = $[E]
Brokerage split (agent's split): $[E × brokerage split%] = $[F]
Net commission to agent: $[E - F] = $[G]
4c. Document assumptions
If any deduction rate is agent-specific (e.g., a transaction fee that varies by brokerage tier) and not clear from the contract, note the assumption in the log and confirm with the agent.
NEVER: Calculate commission differently than what the contract and the agent's documented splits specify. If there is a verbal agreement with a referring agent or co-broker, the calculation does not update until a written amendment or referral agreement is executed.
5. Commission Tracking Log
Maintain a master log — one row per transaction — in a spreadsheet or the transaction management system per the agent's preference.
Required columns
| Column | Notes |
|---|---|
| Property Address | |
| Client Name | |
| Side | Listing or Buyer |
| Sale Price | |
| Gross Commission | |
| Co-op | Amount paid to the other side (listing) or received (buyer) |
| Agent-side Gross | After co-op |
| Referral Fee | If any |
| Post-Referral | Agent-side gross minus referral |
| Brokerage Split | Deduction to brokerage |
| Net Expected | Final commission to agent |
| Closing Date | From contract |
| Actual Close Date | Updated after closing |
| Expected Receipt Date | Typically closing date or within 3–5 business days |
| Actual Receipt Date | Updated after confirmation |
| Received Amount | Actual dollars received |
| Variance | Received minus expected |
| Status | Expected / In Progress / Received / Short-Paid / Disputed / Uncollectible |
| Notes | Any relevant detail |
Status definitions
- Expected: Under contract; commission has not yet been due
- In Progress: Closed but commission not yet received
- Received: Full expected amount received and reconciled
- Short-Paid: Received but less than expected — requires agent review
- Disputed: Agent has flagged a disagreement with another party about the amount
- Uncollectible: Agent has confirmed the commission will not be received (rare — typically a fallen transaction)
Update status in real time as events occur. Do not wait for end-of-month.
6. Invoice to Brokerage (if required)
Some brokerages require the agent to submit a commission invoice for each transaction before the brokerage releases the agent's portion. Confirm with the agent during onboarding whether this applies.
When an invoice is required
- Confirm the brokerage's invoice format — many brokerages provide a template; others accept a standard agent-generated invoice.
- Prepare the invoice within 48 business hours of the scheduled closing (some brokerages accept it after closing; others require it earlier).
- Include the following on every invoice:
- Agent name and license number
- Transaction address
- Client name and side
- Sale price
- Gross commission amount
- Deductions (co-op, referral, other)
- Net commission due to the agent
- Agent's preferred disbursement method (brokerage-approved options)
Invoice template
Invoice
To: [Brokerage Name — Accounting/Commission Department]
From: [Agent Name], License #[License Number]
Date: [Invoice date]
Re: Commission Disbursement — [Property Address]
Transaction Details
Client: [Client Name]
Side: [Listing / Buyer]
Sale Price: $[X]
Closing Date: [Date]
Commission Calculation
Gross commission: $[A]
Less co-op commission: $[B]
Less referral fee: $[D] (to: [referring party, if any])
Less brokerage fee/split: $[F]
Net due to agent: $[G]
Please disburse per agent's on-file payment instructions.
Questions: [Agent phone / email]
Submission process
Submit via the brokerage's required method — commission portal, email to accounting, upload to transaction management system, etc. Confirm receipt (acknowledgment email, portal timestamp, etc.) and log submission date in the tracking log.
When no invoice is required
Skip this step; the brokerage releases commission based on the transaction file. Still confirm the expected disbursement date with the brokerage's accounting practice during onboarding.
7. Referral Fee Tracking
Referral fees run in two directions — agent pays out (outgoing) or agent receives (incoming). Track both.
7a. Outgoing referral (agent paid a referral to another agent)
When the agent referred a client to this transaction from another agent or office:
1. Confirm the referral agreement is on file before closing. Flag to the agent if it is missing — referrals without a written agreement are a compliance risk.
2. Calculate the referral fee per the agreement (typically 20–35% of the agent-side commission).
3. Log the outgoing fee in the commission tracking log as a deduction.
4. After closing, confirm with the agent that the referral payment was made (either by the brokerage from commission proceeds or by the agent directly — confirm during onboarding which applies).
7b. Incoming referral (agent received a referral from another agent)
When the agent referred a client to another agent and expects to receive a referral fee:
1. Confirm the referral agreement is on file — date, parties, percentage, and the transaction it applies to.
2. Log the expected referral fee in a separate "Incoming Referrals" tab or section of the tracking log with: referred client, referring-to agent/office, expected fee percentage, expected transaction close date.
3. After the referred agent's transaction closes, follow up with the receiving agent or office to confirm the referral check has been issued.
4. Log actual receipt when the check arrives.
Incoming referrals are the most commonly missed revenue. The agent is not running the transaction, so it is invisible to them. The VA's tracking is the only safety net. Follow up within 10 business days of the expected closing if payment has not arrived.
8. Monthly Commission Report
On the first business day of each month, produce a brief status summary of all commissions in flight.
What it covers
- Expected this month — transactions scheduled to close in the current month, expected commission total
- Received prior month — commissions received in the prior month, count and total
- Overdue — any commission where actual receipt date is more than 10 business days past expected receipt date
- Incoming referrals pending — referrals where receipt is past due or expected in the month ahead
- Year-to-date — total commission received, year-to-date
This summary feeds into Monthly Business Metrics Report — the commission data is a major component of that report.
Summary template
Commission Status — [Month YYYY]
Delivered [Date]
Expected this month:
[Count] transactions | Total expected: $[X]
Top 3 by value:
[Address] — $[Expected commission] — Close [Date]
[Address] — $[Expected commission] — Close [Date]
[Address] — $[Expected commission] — Close [Date]
Received last month:
[Count] transactions | Total received: $[X]
Variance vs. expected: [±$Y]
Any short-paid or disputed: [List or "none"]
Overdue (>10 business days past expected):
[Address] — Expected $[X] on [Date] — [Status / last follow-up date]
(or "None currently overdue")
Incoming referrals:
Pending: [Count] | Expected total: $[X]
Closed but unreceived: [List, with follow-up status]
YTD commission received: $[X]
9. Escalation — When to Escalate Immediately
Most commission tracking runs quietly. The following require immediate escalation to the agent:
- Commission not received within 10 business days of expected date — send the alert after initial follow-up with the brokerage
- Commission received is materially different from expected — short-paid by more than a nominal rounding amount, or inclusion of unexpected deductions
- Brokerage or co-op agent disputes the amount owed — you learn of a dispute through a message, invoice rejection, or short-pay
- Referral fee does not arrive from another office within 10 business days of the referred transaction closing — after initial follow-up
- Brokerage accounting system or portal access is lost or malfunctioning — you cannot log expected commissions or submit invoices
Use this escalation template:
Hi [Agent Name] — commission issue on [Property Address]:
Issue: [One sentence — e.g., "Commission was expected $12,500 on [date]; received $10,200 on [date]. Brokerage deducted a $2,300 compliance fee that wasn't part of our standard."]
Status: [e.g., "I've emailed brokerage accounting to ask for an explanation; no response yet."]
What I need from you: [Specific — e.g., "Confirm whether this fee is expected on this transaction; I can dispute if not."]
Log entry: [Tracking log row number or transaction ID]
[VA Name]
If agent is unreachable within 2 business days on an urgent issue:
1. Continue to document all communications and follow-ups.
2. Do not initiate a formal dispute with the brokerage or another office on your own authority.
3. Log every attempt at contact with timestamps.
10. Completion Checklist
Per-transaction (when under contract)
- ☐ Commission terms extracted from executed contract
- ☐ Gross, deductions, and net calculated
- ☐ Entry created in commission tracking log
- ☐ Any brokerage invoice prepared (if required)
- ☐ Invoice submitted per brokerage process
- ☐ Referral agreements confirmed on file (if any)
Post-closing
- ☐ Actual close date updated in log
- ☐ Commission receipt confirmed (amount, date)
- ☐ Variance (if any) identified and flagged
- ☐ Status updated to Received / Short-Paid / Disputed
- ☐ Outgoing referral fee confirmed paid (if any)
- ☐ Incoming referral fee tracked for follow-up (if any)
Monthly (first business day)
- ☐ All expected-this-month transactions listed with values
- ☐ All prior-month received commissions reconciled
- ☐ Any overdue items flagged with follow-up status
- ☐ Incoming referral status reviewed
- ☐ Summary delivered to agent
- ☐ Data prepared for Monthly Business Metrics Report monthly metrics report
11. Tools & Access
| Item | Details |
|---|---|
| Commission tracking log | [Spreadsheet / transaction management system — confirm during onboarding] |
| Brokerage commission portal / accounting contact | [Confirm during onboarding — portal URL, email, phone] |
| Brokerage invoice template | [Confirm during onboarding — provided by brokerage or agent-generated] |
| Agent's brokerage split | [Confirm during onboarding — varies by agent and brokerage tier] |
| Referral agreement file location | [Confirm during onboarding] |
| Agent's receipt confirmation source | [Bank feed / brokerage statement / agent confirmation — confirm during onboarding] |
| Agent's preferred urgent channel | [Confirm during onboarding — WhatsApp, text, email] |