Are you looking for a way to track your real estate commissions? In this post, we’re diving into a simple commission tracker spreadsheet, how you can build your own or get a copy of our simple commission tracker.
The spreadsheet we’re sharing is a simplified version that was used inside of our comprehensive real estate scorecard spreadsheet which tracked our leads, appointments, production, marketing channels, and more.
This commission tracker allows you to pull gross commission income by any twelve month period and project your cash flow by looking at pending and closed deals.
A good spreadsheet can help you make better decisions, evaluate your real estate career, estimate your earnings, and properly budget.
You need a way to track what has happened and what’s GOING to happen. The sooner you see problems, the faster you can solve or avoid them. Too many agents are “putting out fires” and by then, they’re left with their backs up against the wall and few good options.
Build Your Own Commission Tracker
You can build a fully customizable commission tracker to match your real estate business or team. We’re listing example functions we use inside of our spreadsheet to add up the gross commission income for closed and pending deals in a given month.
- COUNTIF: We used A TON count-if-statements throughout the spreadsheet to pull certain data from our sales input spreadsheet. The dashboard counts transactions that meet specific criteria, such as month and year.
- ARRAYFORMULA: Our formula allows for more efficiency within our spreadsheet rather than creating multiple columns of data that don’t need to be viewed.
- SUMIF: Similar to our count-if-statements, we used sum-if-statements to add up the total volume in GCI based on specific criteria.
- EOMONTH: This formula is used to give us a set standard date where we can compare months. In other words, we want a transaction that closed on the 14th of April 2023 to be included in transactions that occurred in April of 2023.
Here is an example formula in the commission tracker:
=SUM(ARRAYFORMULA(COUNTIFS(‘Sales IP’!$A:$A,”Closed”,’Sales IP’!$D:$D,”Buyer”,EOMONTH(‘Sales IP’!$E:$E,0),EOMONTH(G16,0))),ARRAYFORMULA(COUNTIFS(‘Sales IP’!$A:$A,”Pending”,’Sales IP’!$D:$D,”Buyer”,EOMONTH(‘Sales IP’!$E:$E,0),EOMONTH(G16,0))))
With Google Sheets, there are plenty of solutions for the same problem. Perhaps you can write a more efficient formula or know a better way to track your gross commission income.
Let’s dive deeper into what a good commission tracker spreadsheet needs to include while using ours as a reference.
Sales Input Tab
Every commission tracker spreadsheet starts with a raw data or sales input tab. In this section, you enter in all of the information about your transactions, such as close date, gross commission income, broker splits, and whatever other information you want to track.
We recommend when building your commission tracker, that you fill the sheet with some of your past transactions. At least three to size months of data is preferred.
This way, you have some historical data to analyze and can get value from the sheet immediately. If you wait to enter data when you have a transaction, it will take some time before you get value from your commission tracker.
As a result, you may find yourself feeling like the tracker is a waste of time.
Filtering Data
Since your input tab can get lengthy, it’s a good idea to build and create filters.
Let’s say you do 50 transactions per year. After two years, your input tab would have 100 rows of transaction data.
Most real estate agents overcome this data overload by creating a new spreadsheet. That’s a shame since it doesn’t allow you to analyze past data in the same sheet.
For example, an agent who wants to compare a previous year to a current year would need to open a new spreadsheet.
By creating filters, an agent can look at transactions with a certain status and within a specific calendar year. That way if they need to make changes to the data, they are only looking at a few rows of data rather than endless rows or creating new spreadsheets.
Current & Projected Commissions
It’s important to track gross commission income from the past. However, most real estate agents really wish to track (or project) commission income.
In other words, most real estate agents wish to know how much money they can expect in the future. This often helps with back of the napkin calculations in budgeting and finances.
For example, if you know you have $10,000 in gross commission income pending for next month, you’re likely to make different decisions and have different levels of anxiety than if you had no clue the amount that was pending.
It doesn’t turn out good when you overestimate your commissions and make a large purchase. Then you find yourself scrambling to get the money to cover those expenses.
Most commission trackers will start at the beginning of the year and end at the end of the year. We recommend a spreadsheet that allows you to track your commission at any start date.
In February, you probably want to know how you’ve done over the last few months while also being able to project. When you start a tracker at a fixed date, you only really have information and insights for half the year.
Plus, when you combine that with a goal tracker, you can adjust your goals every month to account for seasonality.
Dashboard
Lastly, it’s important to have your data in a dashboard. This way, you can quickly analyze and visualize your data. Looking at raw data sucks.
We created a simple dashboard to show gross commission income by month. In this case, you can analyze trends and seasonality of your gross commission income.
There is also a simple numbers dashboard to help you compare how you are doing against your goals.
To get this spreadsheet, visit our Etsy shop and access the commission tracker today.
How Get A Real Estate Agent Commission Tracker
Using some of the formulas above, you can develop your own commission tracker, look for a free one, or take a look at the one we’ve developed for real estate agents.
To get this spreadsheet, visit our Etsy shop and access the commission tracker today.
