Teams and Team Deductions

Creating a team

Once team deductions are created as a Brokerage template, you can apply them to specific teams. 

Go ahead and create a team in the Brokerage Menu under 'Teams'. Click on the '+New' option to create a new team.

Enter the primary Agent on the team, the team start date and the team name. An Agent can only be a part of one team at a time, so start and end dates are important here. 

If you are with a Franchise, make sure the External ID is their Franchise Team ID and the Start and End dates must respect the franchise team dates. If you are an Independent Brokerage, type the common team name in the External ID field. The Team Leader is in name only, so don't worry too much who you pick if they are all equals. 

Once the team is created, select it.

Add other team members by clicking the “+ New” option (as shown below).

Note: The team members’ default % will only apply to deal allocations when the entire team is selected on the People page.

Add team deduction

When you have all of your team members set up, you can go ahead and add the Team Deduction. Note that only those deduction templates that are flagged as 'team deduction' will be available in this drop down list. 

When you have a deal in Loft, you will be able to let the system know if this is a team deal or not by using the toggles provided in the People Page of the deal.

Manage Team

On Deal > People > select 'Manage Teams' if it's team deal. 

Once you have all of your team members on the deal, Loft will calculate the correct splits as per the Team Deduction applied to the team profile.

Team Fee Calculations

Team deductions are calculated based on the total commissions earned or fees paid to date for the entire team. Once the team cap is reached, fees are prorated and allocated to each team member according to their split percentage.

Example: If the total fee applied is $5,000:

• Eric: $5,000 × 75% = $3,750
• Rebecca: $5,000 × 25% = $1,250 

Once the deal is paid out, you can view the total earned or deducted in the Team Financial Summary on the Teams page.

You can also review individual agent performance in their respective profiles.

RE/MAX Franchise Teams

The following fields must be filled correctly:

External ID = The RE/MAX Member Team ID must be in this field.  The number typically starts with 20xxx...

Start and End dates must respect the franchise team dates

• Related Articles

• Deductions 101

  Creating A Deduction Most deductions are straightforward and can be created by following the tooltips next to their corresponding fields. Important Tip when setting up a new Deduction Template! Deductions may be scoped according to whether the deal ...

• Changing your team leader

  Head over to your team's menu, under your brokerage menu and click the pencil next to the agent's name who you want to be the new team leader In the popup, click make team leader Save for this change to take effect!

• Managing Deductions

  How the deduction amount is calculated When a deal and/or agent matches a deduction's settings and the deduction is applied the amount will be calculated automatically. Let’s say we have a deduction with the amount based on the agent YTD commissions ...

• Lofty Teams Training

• Lofty Teams Overview and Settings