TRANSACTIONS & COMMISSIONS
Getting Paid
It is highly recommended to apply for direct deposit. You can do this in two easy steps:
Contact Us
1. Email finance.chicago@compass.com noting you’d like to be set up with direct deposit
2. When prompted via reply email, click on the link from finance.chicago@compass.com and enter your banking information
Alternatively you ask your Agent Experience Manager to submit the request to Finance to start the process for you!
How to Get Paid
Once the deal closes:
UPLOAD FINAL FILES - Upload a copy of the final executed ALTA to Business Tracker. Make sure all of your documents are uploaded to the correct Checklist Tab in Business Tracker for our Transactions team to review.
SUBMIT CHECKS - Commission checks can be dropped off in our Check Drop Boxes at any of our main offices or wired directly to Compass.
Wiring instructions
JP Morgan Mobile App (New User Signup)
SUBMIT COMMISSION REQUEST via your Business Tracker file.
Direct deposit is the required method of payment. Once you complete your W9- you will receive an email from accounting with instructions on how to submit for direct deposit!
Earnest Money
Compass can hold earnest money deposits for any listing or transaction.
WIRES and Earnest are currently recommended for all EM deposits. Please talk with your clients about this. If they are comfortable with wiring funds, they can confirm the Wire Instructions (see below in the Helpful Links section) with your Transactions Team.
Release of EM:
You are responsible to request your Escrow Release one week before settlement. Please have the title companies wire instructions available.
If your deal is terminated and Compass is holding earnest money, submit the Termination & Release Request to the transactions team. Please have the buyer’s mailing address available if requesting a check, and banking information available if requesting a wire.