How do I request a Disbursement Authorization (DA) with the Commission Wizard?
First, create a “Loop” in Dotloop if it hasn’t been created already. Access Dotloop through your LPT Connect homepage, select “Add a Loop,” and enter the property address or MLS number. After the loop is set up and you have added your required documents, click the “Add Transaction” tile in LPT Connect.
What should I do if I don’t see my transaction listed?
If the transaction doesn’t appear, select “Add New Transaction”. Enter the property address and connect it to the correct transaction in Dotloop. You may also search for the loop with the Dotloop Id. To find the dotloop ID, click “View Details” when viewing the loop. The Dotloop ID will be located at the top left.
What should I do if I don’t see my transaction in the dropdown menu from Dotloop?
<Submit a ticket here to Compliance Support.>
What information is required for the property and transaction Details?
You’ll need to confirm the property’s location (address, city, state, zip), select the transaction type (e.g., Residential Buy Side), and provide the closing date, contract execution date, and MLS number.
How do I enter Sales Information in the Commission Wizard?
Under Sales Information, input the list price and sales price. Select the commission type (percentage or flat fee) and add any additional fees, such as transaction or MLS fees, if applicable.
How do I add or manage client information?
In the Clients section, add or manage any client details by clicking “Add New Client” if needed. Confirm all client information before proceeding.
How do I include other parties involved in the transaction?
Use the “Parties” section to verify all involved parties, such as co-agents, referral agents, transaction coordinators, brokerages, and lenders. To add new parties, select “Add New Party” and fill in their contact details.
What is the “Fees Due” section, and when do I use it?
The Fees Due section allows you to indicate if any fees are owed to opposing brokerages (e.g., MLS fees). Toggle the Yes/No switch to specify if fees are due and enter the type and amount if applicable.
How do I handle credits owed to buyers or sellers?
In the Credits section, specify if any credits are due to buyers or sellers. Select “Add Credit” if applicable, then choose the client and credit type. If no credits apply, check the box to confirm.
How do I add a referral source if commission is owed to one?
In the Referral Source section, choose “Add Referral Source,” select the party, and input the referral details, including percentage or flat fee. The referral source must first be added as a party in order to populate. If no referral commission applies, check the confirmation box.
What is the Primary Commission setup, and how do I complete it?
The Primary Commission setup involves adding your main commission details, including the required transaction fee ($195.00). Review the commission splits, ensuring they reflect the gross commission, fee adjustments, and other splits as required.
How do I finalize and submit the DA?
After reviewing all sections for accuracy, click the green button to submit the file for compliance review. Make sure any “Transaction Fee Not Met” warnings are resolved before submission.
How do I request changes after submitting the DA?
To make changes after submission, select the “Request Change” button. Enter your updates in the input box provided and resubmit as necessary.
Who should I contact if I have issues or questions?
If you encounter any issues or have questions about the Commission Wizard, submit a ticket or consult the Commission Intake Wizard folder in the Knowledge Base.
Why is the Dotloop Commission Intake Form going away?
Using the Commission Intake Wizard allows agents to submit their files directly in to Connect, streamlining the process and allowing them to get paid faster.
If I represent both the buyer and seller for a transaction, how should I submit in the wizard?
First, determine if you are enrolled in double sided opt-in. Doing so will ensure all your double-sided transactions are treated as two separate files, with two separate company comps and transaction fees. If it is core, it will be counted towards core twice as well. If you would like to opt-in, please submit a ticket to compliance.
If you are not enrolled and would not like to be, both seller and buyer documents can be in one dotloop file and you will complete the wizard once. Please be sure to include a note that you represent both sides when you submit.
If you are enrolled, please create two separate files, one for the listing side and one for the buy side with all the documents. You will complete the transaction wizard twice- once for the buyer and once for the seller. Please be sure to include a note that you represent both sides when you submit.