What is the Real Estate CDA and How Does it Work?

Curious about real estate commission disbursement forms? Wondering what a CDA is and how it works? Need software to open or run a CDA file? Get answers to your most common questions about real estate commission disbursement forms here.

What is a CDA in real estate?

Many people ask “what is CDA in real estate?” or “what does CDA mean in real estate?”. CDA stands for Commission Disbursement Authorization. It is a type of form that is filled out to allow real estate agents to collect their rightful commission for their work. It’s essentially the check that is cut out to the agents by the title company at closing. Trying to manage CDA forms manually is a pain and a hassle, which may lead you to ask the next question:

Who creates CDA in real estate process?

The commission itself is issued by the title company. The CDA real estate is one of the most important components of the overall process and being able to provide agents with their payment quickly and efficiently is vital to retaining the top performers and producers with your agency while closing more sales and making more money.
With that being said, creating CDA real estate forms can be a painstaking process since you want to be sure that everyone not only gets paid the right amount, but gets paid on time. Real estate agents understandably want to know, “when am I getting paid?” And in order to retain the very best, it’s imperative that they be paid on time, every time. To help with this, there are programs available that helps to simplify the release and disbursement of payments.

What software do I need to run CDA files?

If you have a “CDA file” and you’re wondering how to open or run it, the answers are as varied as the programs themselves. Some programs will let you create the necessary documents via Microsoft Word or another program, but this also means that you have to involve yet another program in order to complete the process.
In addition, switching back and forth between programs may cause you to run into compatibility issues in the future. And when you’ve got real estate agents eager to get paid, delays are the last thing you want to deal with!
For this reason, it’s recommended that you use CDA software to help create and maintain the respective files in the correct formats so that they can be easily tracked and managed from one centralized system.

What is CDA Software?

CDA software allows you to disburse money with ease, provide detailed branded instructions to your escrow, title or attorneys. With Brokermint, creating and managing CDAs is easy. In just seconds, you can:

Account for all nuances to make sure there is no miscommunication or delay.

Authorize commission disbursement with a single click.

Populate all contact and commission data within the system

Email statements directly from the system

Digitally sign statements electronically

Create and setup your own custom commission disbursement form template

Send the forms to your title or escrow company directly from the system

Leverage the detailed automatic log file to show all steps in case of an audit

Take advantage of reports that show transactions that have been processed or those that are still pending.

In short, the best CDA software allows you to turn what is ordinarily a complicated process of dealing with real estate commission forms, into something with cookie-cutter simplicity, freeing up your valuable time while still maintaining the highest level of accuracy.

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