How much do Agents get paid?
Agents who join AAN will be awarded a contract percentage based on their past and current performance. AAN provides a Cross Equivalency Chart to determine the entry level of a new Member. Commissions range from 60% of Field Commission to 85% of Field Commission plus they will receive Bonuses on the production of their Team Members.
Top Producers have an option of joining and enjoying 100% of the Field Commission. However, while at the 100% contract level, the agent will not be able to earn Bonuses on his or her team.
What is Field Commission?
Using an example of a $300,000 home being sold with a 3% side of commission:
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Gross Income Resulting from a Sale
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$9,000.00
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Company and ROC Portion (6%)
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$540.00
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Transaction Fee (Up to $350)
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$350.00
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Field Commission
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$8,110.00
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Who pays me when I close a sale?
AAN Agent Members who close transactions will be required to sign a Commission Disbursement Authorization (CDA), prepared by the ROC, using the AAN System, prior to closing. The CDA will outline all commissions to the ROC and any agent within the ROC Office who is an AAN Agent Member. The CDA is sent to the Closing Attorney or Escrow Company handling the closing. The CDA will provide written instructions to the Closer to pay the amounts indicated to the ROC (Transaction Fee and 1% GCI) and to the agent and/or any other AAN Agent Members involved in the transaction and/or those who are to receive Team Bonuses as a result of this closing (those agents must be within the same ROC Office in order to be paid at closing). The remainder of the Commission will be sent to AAN Realty Company to be disbursed to the upline team members.
How do you determine what I get paid or what level % I get when I join?
AAN HQ has created a Compensation Plan, Cross Equivalency Chart, and Promotion Guidelines that are presented at the time potential members fill out the application for Membership in American Agent Network. The Cross Equivalency Chart will identify the agent’s specific commission level that will be awarded based on the agent’s production over the prior 12 Month Period. Your ROC will work with you and verify you production from written records of past production then notify AAN HQ so we can pay you to the proper level. Higher Promotions Levels %s are paid on contracts dated AFTER the date of Promotion, they are not retroactive.
What are Production Bonuses?
“Production Bonus” are paid on the production of your team and is calculated based you your contract level and the contract level of your recruit.
When an agent that you have recruited into AAN closes a sale, they will be paid in accordance to their contract level with AAN. The remaining portion will be paid out to the “upline” of the agent who closed the sale.
There are two types of Bonuses:
- Production Bonuses
- Team Bonuses
A Production Bonus is based on the individual agents’ contract levels. For instance, if you are an AAN Agent with an 85% Contract, and you have an agent who you directly recruited that has closed a sale at a 75% Contract, you will be paid the difference in your contract level minus their contract level, which is 10%. For agents in your second generation and further, you will be paid the difference between your contract level and the next highest contract level in that team.
A Team Bonus has nothing to do with your or your downline’s contract level. If you recruit an agent (1st Level) who closed a sale, you will be paid a Team Bonus of 7% of the Field Commission. If your recruit then recruits an Agent, then that person would be your (2nd Level), and you will be paid 4% on that agent’s Field Commission, and so on. American Agent Network pays 5 levels of generational overrides.
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