Adding Deduction Fees to Agents Profiles and Overriding levels

Adding Deduction Fees to Agents Profiles and Overriding levels

In order to automate fees on commission earnings you'll need to add fees to an Agents' profile in Loft. 

Open the Agents profile and scroll down until you see the deductions section. From here you will be able to add any of the Brokerages deduction templates you have previously set up. 

  • Please note that archived fees will not be available and team fees will only be accessible to those Agents that are currently active on a team

These profile fees will now populate on the Agents open deals once they are updated and recalculated. 

  • Please note that profile deductions cannot be deleted from deals until they are removed from the profile - they can be overridden to $0 if they don't apply to any specific deal

If you need to override a fee for a specific Agent you can click on the pencil to edit the fee. 

This will open the fee settings for your review. You will see the Brokerage default values as well as the option to override the default levels by clicking on "New".

Be sure to enter the description of the override, the new value and the range for which it applies. 

Click save and you're done! 


To remove a Deduction Fee from an Agent profile simply click the trashcan icon.


    • Related Articles

    • Agent Advances set up as a deduction

      Scenario 1.  Use the Deduction Fee called Third Party Payment. Fill in the Payee field with the name of the Advance Company to be repaid. When the deal is closed and paid out, Loft will generate a payable in Xero. Scenario 2 - Advances provided ...
    • Adding mentor fee income to an Agents profiles for 2019 tax reporting

      A mentor fee is defined as fees to an internal agent as a deduction from other Agents commissions.  See this article for how they work!  Since Loft didn't recognize Mentor fees prior to December 2019 you'll need to gather, sort and total these fees ...
    • Creating Deduction Templates

      BE THE MASTER OF YOUR DEDUCTIONS In this article, you’ll learn how to set up common fees and deductions for your Brokerage; additionally, we’ll walk you through each type your Brokerage might utilize, and the three areas you will have to set up when ...
    • The anatomy of an Agent profile - Understanding each section and how you can tailor your agent's profile.

      Agent Profiles  *do not change the above email in the Agent profile, this is the email used to connect to all usable integrations. If have to add an agent profile, visit here. Account Management  Here you can change the email that your agent wants to ...
    • Adding an agent

      You have two ways to add an agent to your brokerage.   Via the People's page First way is to click 'New' in your Brokerage People's page: 2. Make sure Type is Agent, you chose their office, Add their name, and if they are paid out as a corporation, ...