Open a new Google Sheet and create the following headers in row 1: "Deal Type", "Purchase Price", "Commission % 1", "Commission Amount 1", "Commission % 2", "Commission Amount 2", "Total Commission", "GST", "Total Commission + GST", "Agent Split %", "Agent Commission", "Brokerage Fee", "Net Commission"
In cell A2, input the deal type (either "selling" or "buying")
In cell B2, input the purchase price of the property ($928,000.00 in our example)
In cell C2, input the first commission percentage (3.5% in our example)
In cell D2, use the following formula to calculate the first commission amount: =IF(B2<=100000,B2C2/100,100000C2/100)+IF(B2>100000,(B2-100000)*C2/100,0). This formula checks if the purchase price is less than or equal to $100,000, and if so, multiplies it by the commission percentage. If the purchase price is greater than $100,000, the formula subtracts $100,000 from the purchase price and multiplies the remainder by the commission percentage.
In cell E2, input the second commission percentage (1.5% in our example)
In cell F2, use the following formula to calculate the second commission amount: =(B2-100000)*E2/100. This formula simply multiplies the remaining balance (after the first $100,000) by the commission percentage.
In cell G2, use the following formula to calculate the total commission: =D2+F2. This formula adds the first and second commission amounts together.
In cell H2, use the following formula to calculate the GST: =G2*5/100. This formula multiplies the total commission by 5% to calculate the GST.
In cell I2, use the following formula to calculate the total commission + GST: =G2+H2. This formula adds the total commission and GST together.
In cell J2, input the agent split percentage (34% in our example)
In cell K2, use the following formula to calculate the agent commission: =I2*J2/100. This formula multiplies the total commission + GST by the agent split percentage to calculate the agent commission.
In cell L2, input the brokerage fee percentage (20% in our example)
In cell M2, use the following formula to calculate the brokerage fee: =K2*L2/100. This formula multiplies the agent commission by the brokerage fee percentage to calculate the brokerage fee.
In cell N2, use the following formula to calculate the net commission: =K2-M2-IF(A2="selling",1000,0). This formula subtracts the brokerage fee from the agent commission, and if the deal type is "selling", subtracts an additional $1000.
Copy and paste the formulas from cells D2 to N2 to the rows below to automatically calculate commissions and splits for multiple deals.
To allow for adjustments in commission percentages and split percentages, simply change the values in cells C2, E2, J2, and L2.
To remove the brokerage fee when you cap out, you can add an IF statement to the formula in cell M2 that checks if the agent has capped out. For example: =IF(K2>=50000,0