If you read our last blog on brand new disbursement authorization form (CDA) updates, you know that we recently made upgrades to the Brokermint system to make managing commission disbursement authorizations easier than ever before.
Need a refresher on real estate commission authorizations? A CDA is a form that guarantees real estate agents will receive the agreed-upon commission by the title company when the property closing occurs. Many brokerages and agents find this process difficult to manage. Brokermint strives to make the commission disbursement process easier for all parties involved. Our CDA software automates commission tracking for agents while offering the ability to brand CDAs and individual statement with elements like your own logo and company name.
Many real estate professionals end up attempting to manage custom commission structures and differing commission levels in spreadsheets, formulas, and a pile of paperwork. Disbursing those commissions on time and accurately can be even more cumbersome and time-consuming. That’s why so many agents rely on Brokermint’s CDA software and real estate commission forms to streamline this process. We’ve recently updated the commission disbursement authorization forms to add new features that our customers are loving. For a quick tutorial on how to use the forms, read below.
We updated the commission disbursement authorization form to match the structure of the new commission management module. Take the following steps to access the improved forms:
To generate a form you need to access your transaction and click on the Commissions link.
Double check if your commissions are calculated because this information is needed for the form. If they are not, click on the “Calculate” button. Once calculated, press the “Action” button and select the “Generate CDA” option.
Review all payments and contacts, uncheck if something is not necessary, populate notes and click on “Generate”.
The generated form can be downloaded as a PDF file or emailed from the system.
If you represent both sides, the form shows Listing side payments and Buying side payments as a separate line items.
More information is available in our detailed step-by-step video guide.
Remember, properly managing agents’ commissions will help your office to run efficiently, and retain the best talent. In order for your brokerage to grow and continue to scale while getting the best talent on board, you need to implement a system now rather than waiting until commission management becomes too large and tangled to deal with and do so accurately and precisely. That’s why you need more than just a tracker or a real estate commission calculation for your spreadsheet. You need a system that’s smart enough to be able to handle custom commission calculations as well as other related aspects regarding commission disbursement. The good news? That’s Brokermint!
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