DA Process - Contact Verification + Split Confirmation
Contact Verification
The purpose of this process is to confirm that our agents are properly documenting their clients in FUB, leaving contact information for important parties, and complying with the company's process.
Step 1 - Open RealScale "Closing Reports"
Click on a closing report and ensure that the agent has all of the following in the closing report
Clients
-name
-phone
-email
Look at the contract for the report, and make sure that both clients on the contract are ALSO listed on the closing report and have FUB accounts.
Cooperating Agent
-name
-phone
-email
Edge Cases:
The only time there is not a cooperating agent is if the seller or buyer represent themselves.
Escrow Officer
-email
Lender
-email
If the agent is missing any of the following under "notes" fill out what they are missing in the description box and notify the agent by clicking "notify team" then select the agent. After doing this change the status of the closing report to "rejected"
Step 2 - Split Verification
This next step can be done on the same closing report immediately after completing step one above.
- Click on "edit" in the closing report and then on the left collum click on "financials"
- Reference the agent's name on the Google Sheets to see what their split percentage is and confirm that it is correct. If the agents split is 80% on the spreadsheet but 90% on RealScale then change the percentage in RealScale.
- If it is a "company lead" then the split is automatically 50%, look down one scroll at "fees" if there are any fees with a "company lead" then all fees are "before split"
- If "company lead" is "no" then all fees are "after split" - if the agent is reimbursing their client this would be "before split"
- Sometimes will see "inside payee" and it is almost always "after split". If you see this, contact the management team and we will document it
- Once this process is done "update transaction" and in the description box under "notes" leave a note along the lines of "split is audited all is good"
- "Outside Payee" is usually "after split" but can be "before split" if they're paying out a referral partner.
COMPANY LEAD TO AGENT GENERATED LEAD
-18 months after closing a company generated lead turns in to an agent generated lead
-6 months after closing a company leads REFERRAL turns into an agent generated lead
TEAM SPLITS:
If there is a team split, for example 50/40/10, this is how it is broken down.
50% to agent 40% to team leader and 10% to Bramlett
"after split" for this
When Eric says "Increase "teams split by 5%" and "give Bramlett 5%" he means the following:
Original split: 80/10/10
Updated split: 80/15/5
THE TEAM = TEAM LEADER
PERSONAL TRANSACTION:
- Each agent is allowed 5 per year
- Agent commission is $-250
Out-of-Office Payee:
When an agent pays a referral fee, it's before split.
In-Office Payee:
If an agent is giving a referral to an in office payee then this is "AFTER SPLIT"
Referrals between in-office payees do not need a separate transaction.
DA's
-Send out DA for all agents highlighted in green = don't take leads
-Send out DAs for any agent's that need a revised DA unless split changes (takes company leads)
-Be cautious of Dochen group
Agent Cap
All agent's that cap out have their splits reset to normal on January 1st.