Who It’s For:
The Agent or User Accounting Setup is for all agents and users who will receive payments (like commissions) or make payments (such as subscriptions or monthly fees) within My Broker Cloud. Each user must complete this setup to enable secure financial transactions.
Video Walkthrough
What it Does
Agent Accounting Setup connects an individual’s payment and payout accounts through Stripe.
It allows users to:
- Receive commission payouts directly to their bank.
- Pay subscriptions or office fees automatically.
- Operate as an individual or company (LLC/PLC) depending on how their business is structured.
This process ensures that every financial transaction between agents and their brokerage is handled seamlessly and securely.
Where to Access
You can start the setup in one of two ways:
- From your dashboard notification prompt — click Setup Now.
- Go to Profile → Financials → Accounting Setup.
Either option will bring you directly to your personal accounting setup screen, where you’ll connect both:
- Payout Account – for receiving money.
- Payment Method – for sending money.
Setting Up Your Accounting
Step 1: Connect Your Payout Account
This account is used to receive commissions or other payments from your brokerage.
- Click Connect Payout Account.
- Enter your Business or Individual Details:
- Legal Name (personal or company).
- Business Structure (Individual, LLC, or PLC).
- Industry: Select Consulting Services (closest match for real estate).
- Website: Enter your business website, or provide a short product/service description if you don’t have one.
- Search for and select your Banking Institution (e.g., Chase, Wells Fargo, Bank of America).
- Log in securely through Stripe’s connection portal.
- Select the specific bank account you want to receive payments into.
- Verify your information, agree to the terms, and click Submit.
- Once connected, you’ll see your payout bank account listed and active.
Tip: Payouts are typically deposited within a few business days after being sent by the brokerage.
Step 2: Connect Your Payment Method
This account is used to make payments such as office fees, subscriptions, or other charges.
- Click Connect Payment Method.
- Choose your preferred option:
- Bank Account (ACH) – Recommended for lowest fees.
- Manual Bank Entry – For banks not supported through instant login (may require micro-deposit verification).
- Credit/Debit Card – Fastest setup, but may include higher processing fees.
- Follow the on-screen steps to search for and connect your bank or enter your card details.
- Once complete, your payment method will show as connected and ready for use.
You can add multiple payment methods if desired and choose a default for ongoing payments.
Step 3: Confirm and Refresh
Once both accounts are connected:
- The setup reminder at the top of your dashboard will disappear.
- Your profile will show Payout and Payment accounts as active.
- You’ll now be able to:
- Receive commission payments.
- Pay any subscriptions or brokerage-related charges.
FAQ
Q: Do I need both a payout and a payment method?
A: Yes. Both are required — one to receive commissions, and one to pay brokerage fees or subscriptions.
Q: Can I connect a company account instead of a personal one?
A: Yes. If you operate under an LLC or PLC, you can connect your business account instead of a personal account.
Q: What if I don’t have a business website?
A: Enter a short product or service description instead (e.g., “Residential real estate sales and marketing”).
Q: Are there fees for bank or card payments?
A: Bank (ACH) payments have the lowest fees and are recommended over credit or debit cards.
Q: How long do payouts take to reach my bank?
A: Typically 1–3 business days after the brokerage initiates the payment.
Q: Why do I still see a setup reminder?
A: The reminder remains until both your Payout and Payment Method connections are successfully verified.
