For reality business, revenue can be recognised when following conditions met:
1. The sale is consummated
2. Initial and continuing investments by the buyer in the property are sufficient;
3. All the risks and rewards of ownership reside with buyer;
4. There is no continuing duty or involvement by the seller post-sale (after closing); and,
5. There is no future subordination of any buyer receivable
This is applicable for a realestate developer, but if you are just an agent and earn commission of sales, i think you need to concern about commision only in your books of accounts. i.e.
Commision receivable A/c Dr.
To Commision
cash a/c Dr
To Commission Receivable
If the party do the deal through you then:
Cash A/c Dr (Gross Amount)
To party (net amount due to client i.e. less commission)
To Commission
To charges (If any)