Free Real Estate Agent Credit Note Template
Generate credit notes for real estate commission adjustments, retainer refunds, and marketing fee corrections. Free PDF.
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About Real Estate Agent credit notes
Real estate agents issue credit notes when a property sale falls through after a marketing retainer has been paid, when a commission is recalculated because the final sale price differs from the estimate, or when a landlord is overcharged a management fee and the correction needs to be documented. These billing adjustments come up regularly in both sales and property management.
The credit note references the original invoice and property reference, lists each adjustment clearly, and provides the client with a formal document for their records. It also supports accurate VAT or GST reporting when fees are subject to tax.
When to issue a credit note
Issue a credit note when a vendor pays an upfront marketing fee and the property is withdrawn from the market before the campaign ends. Use one when a property management fee is calculated on projected rent but the tenant leaves early and the actual rent collected is lower. It also applies when a commission is subject to adjustment under a scaled fee structure and the original invoice used the wrong tier.
Frequently asked questions
A vendor withdrew their property from the market after paying the full marketing fee. What should I credit?
Credit the portion of the fee that covers marketing activities not yet carried out. If the campaign was two-thirds complete when withdrawn, credit the remaining third. Itemise what was delivered and what was not so the vendor can see exactly how the credit was calculated. Check your agency agreement for any clauses on early withdrawal fees.
If a sale falls through at exchange, is any part of my commission refundable?
This depends on your agency agreement and local regulations. In many markets, the commission is earned on exchange and is not automatically refundable if a sale subsequently collapses. If you choose to return a portion as a goodwill gesture, document it with a credit note. Otherwise, no credit note is needed.
Do I need to include GST or VAT on a credit note for real estate services?
Yes, follow the same tax treatment as the original invoice. If you charged GST or VAT on the original fee, the credit note should show the net credit and the tax amount separately. This allows both parties to adjust their tax records correctly. Check the rules in your jurisdiction, particularly for mixed commercial and residential transactions.