How to calculate Commissions amount and Agent Revenue Totals with Workflow Toolbox.
Accurately monitoring total revenue generated is essential in the sales domain for both individuals and organizations.
Utilizing tools like the Workflow Toolbox can streamline this process, as seen in the case of real estate agents handling property sales.
By customizing objects and properties like "Total Real Estate Sold" and "Total Revenue," and setting up automated workflows triggered by successful deals, users can effectively track revenue and sales performances.
This approach enhances performance evaluation and financial management throughout sales operations.
Real Estate Agency Scenario
Imagine a scenario where real estate agents are managed as a custom object within the HubSpot platform. Each agent operates within a real estate agency, responsible for facilitating property transactions.
In this setup, the HubSpot platform acts as a centralized system where crucial information about agents, deals, commissions, and revenue is stored and managed efficiently. This allows for seamless tracking of each agent's performance, commission calculations, and overall revenue generated from property sales.
By customizing objects and properties within the platform, real estate agencies can streamline their operations, enhance transparency, and make informed decisions to drive business success.
How to Achieve This
To effectively manage commission calculations and track total sales revenue, follow these steps leveraging the Workflow Toolbox app.
If you have already set up a custom object to track the performance of your Sales Representatives, you can skip the step #1.
1. Custom Object Creation: Real Estate Agents
Begin by creating a custom object named "Real Estate Agents" within the HubSpot platform. This custom object will store pertinent information about individual agents.
2. Custom Properties on the Real Estate Agents Object
Within the "Real Estate Agents" custom object, establish the following custom properties:
- "Total Revenue": Aggregates the total revenue generated from property transactions by each agent.
- "Total Real Estate Sold": Tallies the count of properties sold by each agent.
To maximize the benefits of this tool, consider creating an additional calculated property for Real Estate Agents called "Total Commissions Due" to automatically calculate the total commission based on the Total Revenue and commission percentage for each agent.
3. Workflow Automation
Utilize the Workflow Toolbox to design workflows triggered by deal wins (i.e., property sales). Configure these workflows to execute the following actions:
a. Add the deal amount to the "Total Revenue" property of the agent.
b. Increase the "Total Real Estate Sold" property count for the agent by one.
4. Generate Reports
Utilize reporting tools to monitor top-performing sales representatives and evaluate their performance effectively.
By implementing these steps and leveraging the capabilities of the Workflow Toolbox, real estate agencies can streamline commission calculations, accurately track total revenue from property sales, and gain valuable insights into agent performance and business profitability.
This integrated approach enhances efficiency, transparency, and financial management within the real estate sales process.