RealtyBackOffice allows the admins to create Transaction Types for each Company. *** Note that once you add a Transaction Type, you can’t delete or remove it. ***
The video above will show you how to create Transaction Types in the Admin App Settings.
The Admin needs to go to Menu > Settings > Admin App Settings > Company/Office Settings > Select the Company > Transaction Types. By default, the system provides you with five transaction types; Residential Sales, Residential Leases, Commercial Sales, Commercial Leases, and Referrals.
To add another transaction type, click “Add Transaction Type” at the top right corner.
On the display window, enter the name of the new transaction type, select if it is a sale or rental, and change the Status to Active. Click Save to create the transaction type.
The new Transaction Type will be in the middle panel along with the default transaction types. You can drag and drop the transaction type to rearrange the order.
To Edit the transaction type, hover over the transaction type, click on the three dots on the right-hand side and click on Edit. You can edit the name, Transaction type, and status of the transaction type. Click Save to save the changes.
Note that you can not delete the transaction types. However, you can always change the Transaction Type Status to Inactive if you no longer use a Transaction Type.
After adding the new Transaction Type, you would need to create a Compensation Plan for Agents for the new Transaction Type. When an agent creates a transaction and selects the transaction type, the compensation plan will auto-populate in the financials tab. To set up this feature, the Admin would need to go to Menu > Admin App Settings > Company/Office Settings > Compensation plan for agents.
If you need to create a new Compensation Plan, please watch this video https://www.realtybackoffice.com/docs/admin-app/on-boarding-videos-admin-app-settings/compensation-plans-for-agents/.
If you already have the compensation plan set up and the Admin wants to add the new Transaction Type to this plan, hover over the compensation plan, go to the three dots on the right side and click on Edit Plan. Once inside, go to the scroll-down menu and select the Transaction Type. In the columns below, set up the commissions for the specific transaction type. Then click Save to save the changes.
Remember that you need to set up the compensation plan for each Transaction Type by clicking on the drop-down menu and setting up each window.
You need to create or add a checklist for the new transaction type. To do this, the Admin needs to go to Menu > Admin Add Settings > Company/Office Settings > Automated Transaction Task Templates.
To add a new Transaction Task Template, please see this video https://www.realtybackoffice.com/docs/admin-app/on-boarding-videos-admin-app-settings/automated-transaction-tasks-templates/.
If you already have an Automated Transaction Task Template that you can use for the new Transaction Type, you need to locate the template, hover over it, and go to the three dots on the right side. Once inside, go to the bottom of the window and select the transaction types that this template applies.
If you have any questions, please email us at firstname.lastname@example.org or call us at (305) 517-3836.