There are a few reasons you might have an outstanding balance on your account:
1. Did you include all commission in your fee calculation?
Opcity’s fee is based on gross commission paid to the brokerage, which includes administrative fees and bonuses. If your brokerage charged an administrative fee or received a bonus and did not include it in Opcity’s fee calculation, there will be an outstanding balance on your account until full payment is received.
2. Please ensure that you have calculated the fee correctly.
Referral fees vary based on final sales price. Transactions with a final sales price of less than or equal to $150,000 have a lower referral fee than homes priced greater than $150,000. If your brokerage is part of the Broker Lead Accelerator program, the fee may be different. For specific details on your referral fees please refer to your Cooperative Broker Participation Agreement. If you're an agent, please contact your broker for referral fee details.
3. Have you sent the closing statement showing broker commission earned on the sale?
Opcity assumes broker commission of 3% if the agent or broker does not indicate otherwise in their Referral Manager. Sending all closing documents to email@example.com with broker commission data will allow Opcity to recalculate its fee to the correct amount. If the closing statement does not list commission, please provide a copy of the broker commission check(s) or an escrow letter stating gross commission paid to the broker. Please be sure to enter the correct gross commission amount into the Referral Manager prior to the close date of the transaction.
Still Have Questions?
For accounting-specific questions only, please contact Opcity Accounting Support at firstname.lastname@example.org. With the exception of weekends, you can expect a response within 24 hours.