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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When does a real estate agent issue a credit note?
A real estate agent issues a credit note when a billed fee is reduced, such as a marketing fee for a property withdrawn mid-campaign or a management fee corrected against actual rent. The note references the original invoice, explains the adjustment, and lowers the client's balance.
Typical line items
- Original invoice number and date
- Marketing fee partial refund, property withdrawn mid-campaign
- Management fee correction, actual rent versus projected
- Reason for the credit
- Credited amount
- Adjusted balance due
- Tax adjusted in proportion
How the work is charged
Credit a withdrawn marketing campaign at the unused share of the fee on the original invoice. A management fee correction is credited at the difference between projected and actual rent collected.
Payment terms and deposits
Refund the credit to the original payment method or set it against the next invoice, quoting the original invoice number. State the revised balance after the adjustment.
Tax and compliance
If the original invoice charged sales tax or VAT, the credit note generally reverses that tax in proportion to the amount credited. Confirm the rules that apply where you operate.
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 If the campaign was two-thirds complete when withdrawn, credit the remaining third.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.
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Read the complete credit note guide to see when to issue one and how it adjusts an invoice already sent.
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