Learn What Each Item in Your Fee Schedule is and What it Means
As an agent with our company, it's essential to understand the various components of our fee schedule. This article will define and explain each section of your fee schedule to help you better manage your financial expectations and obligations.
Agent/Team Lead Split (Personal Leads): This refers to how commissions are shared when you generate and close a lead independently without the direct involvement of the Team Lead.
Agent/Team Lead Split (Leads Provided By Team Lead): This refers to the commission distribution when you close leads provided by your Team Lead. These leads typically come from the Team Lead's network, referrals, or resources.
Commission Split Cap: This is the maximum dollar amount in commission you’ll share with Radius. Once you reach this cap, you will keep 100% of your earnings until the end of your fiscal year. At the conclusion of your fiscal year, the cap will reset.*
Audit Fee: This is a fee for auditing your transactions to ensure compliance with company policies. Audit fees are applied per transaction.
Monthly Support Fee (if applicable): This is a recurring fee agents may pay that covers support services like tools, marketing materials, and administrative assistance. Please refer to your specific ICA verbiage for more details on what this includes.
E&O Terms: Errors and Omissions (E&O) insurance specifies the conditions and coverage of your professional liability insurance as an agent. This section indicates which E&O payment plan you are on.
*Once you reach your cap, Radius will no longer collect any percentage of the total commission. For any subsequent transactions closed after reaching your cap, you may still be responsible for paying your Transaction Coordinator (if applicable), E&O insurance (if applicable), as well as any overdue or unpaid support fees owed to Radius.”
Note: For specific questions prior to acknowledging your Fee Schedule, please contact your Recruiter. For specific questions that arise after acknowledging your Fee Schedule, please contact Brokerage Support or your Account Manager directly.