As a freelance sales or real estate agent, you invest all of your time on day to day tasks like market research, networking, prospecting, and closing deals. So when it's time to request your commission payment, you want your invoices to reflect all your hard work and leave your client with an excellent final impression of your services. But with so much to take care of, you don't always have the time to sit down and create the perfect invoice.
Well, there's an efficient workaround that will surely save you time and improve your invoicing process; Create your own commission invoice template. By having all the basic but vital elements covered on a pre-filled form, you can quickly create the perfect invoice and minimize billing errors. A well-designed invoice can also help you strengthen relationships with your clients and even lead to more work.
Read on to find out what important elements your invoice template should cover.
Note: Time to get paid? Save time and create professional invoices with Bonsai's invoicing software. You'll find the best invoice templates and endless administrative tools to meet your business needs and step up your invoicing game.
Essential Elements of a Sales Commission Invoice Template
When creating your commission invoice template keep in mind your clients should be able to easily identify and understand the charges as well as payment instructions. Include all the necessary details (without going overboard) while making sure all business-related information is in place to help you keep clean accounting records for a smooth tax season.
To create a perfect real estate agent invoice every time, include the following elements on your template.
Real Estate Agent Information
Start your sales commission invoice template with a section for your full name (or business name if applicable), business address, phone number, email and website. You can also mention any specialized services you offer such as property inspection, professional photography, developer deals, etc., as well as your credentials or licensing information.
For more professional invoices, add your professional logo or any branding elements you consider appropriate which will make your invoices unique and easily recognizable for your clients.
Seller & Property Information
Next, add your client's (seller) information starting with their full name (or company name), phone number, billing address, and e-mail address if you send digital invoices. Add a few lines to provide any relevant information about the property such as the street address, asking price, and whether it's being sold or rented. If you are billing for multiple properties (i.e. if you're working for a developer) skip this information and list the properties sold/rented in the transaction section.
Invoice Number and Date
Don't forget to assign a unique invoice number to all of your invoices to help you keep your paperwork organized and make it easier to track your client's payments. This will also avoid delays in payments since your clients may return unnumbered invoices. Include the invoice date (when it was sent out, not created) to help you determine the payment due date and apply penalties to overdue invoices accordingly.
Commissioned Transaction
Provide all the details of the transaction you are requesting the commission payment for. Include the total sales or lease price, commission percentage according to the listing agreement, and the total commission due. Aside from your sales commissions, you may also include any extra charges such as property staging, valuation etc., providing a short description, unit price and the total cost. If you are billing for any of your services on an hourly basis, specify the amount of time spent on each task, the hourly rate and the total due.
Totals
On the totals section of your sales commission invoice template you want to specify the subtotal (sum of commissions owed plus extra charges), then add taxes if applicable, and the total amount due. If you offer any discount to your client (referrals, promotions, multiple homes, etc...), highlight it in this section by subtracting the discounted amount from the subtotal and then adding the tax. Don't forget to briefly mention what the discount is for so your client can easily identify it.
Payment Details
It's very important to provide clear and easy-to-follow payment instructions to make this process as efficient as possible. Start with a list of all accepted payment methods such as credit/debit cards, checks, cash, ACH transfers or online payments along with the corresponding payment links, account numbers and mailing address.
You also want to clearly disclose your payment terms including invoice due date, penalties for overdue payments and payment arrangements available as previously stated on your listing contract.
Notes
Finally, leave a section at the end of your real estate commission invoice template to write a thank you message for your clients or a personal note to let them know you appreciate their trust in you as their sales agent. This simple addition will convey a professional and caring image which adds to a great service and may lead to valuable referrals or good reviews for your service.
Free Commission Invoice Template for Real Estate Agents
Making sure every sale is a success requires all of your time and attention. You probably don't want another daunting administrative task on your plate like creating your own invoice template. Luckily, you can simply download Bonsai's free sales commission invoice template and easily customize every aspect of it to your liking.
Once you have your free invoice template ready, save it in your preferred file format (Microsoft excel, adobe pdf, etc...), to bill your clients consistently and professionally. You can also integrate different payment options and link your business checking account to have instant access to your funds when your clients pay. Want even more efficiency?
Use Bonsai to automatically send payment reminders, receive partial payments, get viewing notifications, and apply late fees. You can also use our accounting software to manage your business finances by getting income reports, get tax estimates, track your expenses and more. Come on board, we've got your back!
