For appraisal teams, manually tracking fee splits and commissions is a time consuming and error-prone process. In the age of the bifurcated appraisal, there might be a primary appraiser, a trainee, a data-entry or research assistant and an internal reviewer on a single assignment. Additionally, the appraiser and trainee may earn a percentage of the appraisal fee while the research assistant and reviewer are paid hourly. To calculate all of these splits and commissions manually, no less than four separate calculations are required (and later reconciled across all the appraisals completed during the pay period for payroll - per assignee).
Appraisal Inbox automates this process by allowing you to configure a team member's default fee split. And as an option, a team member's fee split can be configured based on a specific user role (appraiser, data entry, scheduler, etc) and property type (industrial, multi-family, land, etc). For example, if a specific team member with the role of appraiser always receives 60% of an appraisal fee specifically for Industrial appraisals, this can be configured. Additionally, if that same team member always acts as a reviewer on industrial appraisals but is paid by the hour, that can all be set up. The neat part is, when adding an assignee to a new order - Appraisal Inbox knows which commission calculation to apply based on the subject's property type!
The fee splits can either be flat (i.e., hourly rate) or a percentage of the assignment's fee (with the option of Net or Gross an order's Expenses). And since the commission's are automatically saved in the system, running payroll (and slicing and dicing as needed) is easy as just a couple clicks and exportable to csv format (which can be imported to Excel or your accounting software).
