Glossary

Every term below is defined once here, and every other article can link straight to the definition instead of re-explaining it. Look up a word you saw elsewhere and did not recognize.

Team Workspace

The single set of transactions, clients, and templates every member you invite shares with you. Invite someone as a member, rather than a team agent, from Manage Team when you want them working inside your own files — the same deals, the same clients, the same templates, with no separate workspace created for them.

TAW

Short for Team Agent Workspace. Inviting someone as a team agent, rather than a member, gives them an entirely separate workspace of their own, complete with its own transactions and clients, linked back to your Team Workspace only by a commission split and whichever templates you choose to share. You can see everything inside a TAW you own; a team agent cannot see your other TAWs or your own deals.

Cap

The point in a commission period where your broker split changes, common at brokerages that price against a company-dollar cap, eXp among them. Below the cap, your split can be one fixed percentage; cross it, and the split can become something different, sometimes a flat per-file fee instead of a percentage. Two deals with identical gross commission can close at different net figures for no reason other than where you stood against the cap on the day each one closed.

Split

The percentage, or past a cap sometimes a flat fee, your brokerage takes from a deal's combined gross income before it becomes your net income. KeyFlow applies your split to gross commission plus any admin fee, then subtracts a flat transaction fee, in a fixed order you can walk yourself on any deal.

Net income

What a deal actually pays you, after a referral fee is subtracted, an admin fee is added, your broker split is subtracted, and a flat transaction fee is subtracted, in that fixed order. Once a deal is marked Sold or Terminated, its net income is stored at the moment it closes rather than recalculated later, so reopening it months from now shows exactly what it earned the day it closed, not what the same commission would earn under today's cap position.

Referral Out

The transaction type for a deal you handed to another agent rather than one you are working yourself. It is deliberately barebones, with only two statuses, Prospect and Sold, and it zeroes the Admin Fee field entirely. Its Referral Fee field also means the opposite of what it means everywhere else: on a Referral deal, that field is the share of the other agent's commission coming back to you, not a fee you pay out.

Closing path

The fixed sequence of milestones a deal moves through between a signed contract and closing, laid out on the transaction's Overview tab in the same order on every deal of that type. Most of the dates compute automatically from the Contract Date instead of being typed in one at a time, and a milestone that does not apply to a particular deal simply does not appear.

Milestone

One step on a deal's closing path, such as Earnest Money Due, Inspection Period Ends, or Closing Date itself. Marking one complete updates the client portal, your dashboard's attention count, and any digest email still due, all at once; two milestones, Listing went live and Offer accepted, are treated as complete automatically and can never be marked or unmarked by hand.

Client portal

A last-name-protected link you share with a buyer or seller so they can check a deal's closing timeline, checklists, and files without calling you for an update. It stays hidden on an unsaved transaction and on any Referral-type deal, and regenerating it kills the old link immediately, even if only the expiration date changed.

Prospect

The first status in a deal's pipeline, before Active or Contract. Prospect is also one of only two statuses, along with Sold, a Referral deal can ever carry, since there is no in-between status list for a deal you are not personally running.

Income source

A payment recorded outside of a transaction closing, such as a referral fee or a bonus, that counts alongside your closed commission for the year. Linking it to the transaction that caused it, even a deal you did not personally close, keeps the entry from sitting unexplained a year from now.

Business partner

A lender, title company, or realtor you work with across multiple deals, added once from the Business Partners page or on the fly from inside a transaction that needs one. Both roads save to the same roster.

Archive year

A label like "Sold 2024," computed from a Sold or Terminated deal's close year rather than set by hand. The deal's own status stays Sold or Terminated; only the year bucket is derived, and a prior year's deals move out of the active pipeline into their own archived bucket automatically once the calendar turns.