Once team deductions are created as a Brokerage template, you can apply them to specific teams. 

Go ahead and create a team in the Brokerage Menu under 'Teams'. Click on the '+New' option to create a new team.

Enter the primary Agent on the team, the team start date and the team name. An Agent can only be a part of one team at a time, so start and end dates are important here.
 
If you are with a Franchise, make sure the External ID is their Franchise Team ID. If you are an Independent Brokerage, type the common team name in the External ID field. The Team Leader is in name only, so don't worry too much who you pick if they are all equals. 

Once you have created the team, you can now select it and enter the other team members by selecting the '+ New' option as shown below. Note: the team members' default % will apply to deal allocations only when you're selected the whole team on the people page.  

When you have all of your team members set up, you can go ahead and add the Team Deduction. Note that only those deduction templates that are flagged as 'team deduction' will be available in this drop down list. 

When you have a deal in Loft, you will be able to let the system know if this is a team deal or not by using the toggles provided in the People Page of the deal.

If this is a team deal, you will select 'Manage Teams' and go ahead and enter the applicable team members to this deal.

Once you have all of your team members on the deal, Loft will calculate the correct splits as per the Team Deduction applied to the team profile.

Team Fees Calculations

Team Deductions are calculated on the total Commissions earned or Fee paid-to-date for the whole team. The fees will prorate once the cap is hit for the entire team and the fees will be allocated to each team member based on their split percentage. 

In the example above, if the total fee to be applied was $2000, it would be applied as follows:

Stephan: $2,000 * 33% = $660
David: $2,000 * 34% = $680
Mary: $2,000 * 33% = $660

Once the deal is paid out, you can view the total amount earned or deducted on the team financial summary on the teams page.

You can also view the personal performance for each Agent in their profiles. 

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