Good morning. Good morning. It's Wednesday. We are going to get started in just a second. I'm gonna allow some time for a few more people to join as this is an important session of Connect two point o and all the things we're rolling out. Hopefully, you all have been able to be a part of our meetings, previously with RP and the rest of the team to go on the tours. I was on the ten o'clock call last night, which was great. I know a lot of you were. The tech is super exciting. We've continued to make updates throughout the day yesterday, and it's gotten to a really great place. So super, super fun. Today, we're gonna this session, we're gonna talk about how to get paid in the new commission intake wizard. Good morning. Yeah. Let me know where you're joining from in the chat. That would be great. We're gonna get started in just a couple of minutes. Orlando, Miami, Texas, South Carolina, Virginia, Texas. Awesome. Georgia. Go, dawgs. Love to see it. Uh-oh. We've got some Longhorn fans on here. Love it. Awesome. Right. See. Real life. Gonna put my phone on mute, guys, and we're gonna get going. Otherwise, I feel like we're gonna get it going to get interrupted on the regular. Okay. So my name is Natalie Cox. Welcome if you're just joining. We're glad to have you all here. I am VP of agent community for LPT Realty and also Florida broker and Mississippi broker. Love this company. Very passionate about it and the strides that we're making. So if I haven't had the chance to meet you before, hopefully, we'll get that opportunity soon, and I'm just thankful to be here today. Can't believe it's December. So, this session today is about the new commission intake wizard, and I do wanna be a little bit detailed in what it's replacing and the process for how it works because I think more information the better. Please feel free to put your questions in the chat. We do have some of our executive team as well as our VPs in the chat who's gonna be here to help answer your questions too live as I walk through this. I wanna make sure that everyone gets their question answered. It's important. Make sure too that you submit a ticket if you have specific questions to two point o at l p t realty dot com. You'll see that marquee as you're as you're logging in to connect two point o. That way if you have specific questions, we can get back to you as soon as possible. So first things first, I wanna start with Dotloop. Right? We all love to hate it. Some of us love it. Some of us don't. It's okay. I know some of you have started using SkySlope, which is great. And that's one of the options we have as well for our compliance management. And as we're moving forward into these next few weeks, SkySlope will be able to be utilized and talk with Connect just like Dotloop does. As of right now, though, Dotloop is the primary transaction compliance management system that we have in place for our compliance team. So let's say you do like to use SkySlope or FormSimplicity or some other signing software, esignature software, and form software for your clients and customers. That's fine. Just make sure that once you have the executed package that you are uploading those documents into Dotloop, into a loop, so compliance can go in and and it will talk to Connect, and we can get it cleared and get you a DA. So like I said, in the future, there will be a build out for SkySlope to function this way as well with Connect, but right now it is Dotloop as our primary software we're utilizing. So I have made a test loop here, like you all do when you create a transaction within Dotloop. You can see that I have put the status to under contract, the price, the close date, like I would typically do. And what we're really focusing on replacing in Connect two point o is the re release of our commission intake wizard. So our commission intake wizard is going to replace the LPT commission intake form. So this is the form here that we're all used to filling out to submit to compliance with our documents so we can get paid and get our DA. Now we're going to be moving this process over into Connect, and it's going to be an expedited way to get your DA processed, get your payment faster, so it is super exciting. So that's what we're replacing in this process. So one thing I do wanna point out is that in order for Connect to recognize your transactions and import them from Dotloop, your name does have to be on the file. So because I've created this loop, obviously, my name is already populated here. But, for example, if you have a TC, your TC will need to make sure to add you as the agent on the file as well. It's really important that you have your roles and your parties listed in here. You see I have a fake buyer here, and we'll see how this imports into Connect. So all you need to do, all that said, once you have your documents uploaded and you're ready to submit a file for review to compliance and or submit it for a DA request, you're going to go to your Connect two point o, which will look something like this. Don't you guys love the new layout? I think it looks so nice. You come up here. You can there's a couple of ways. You can click add transaction, or you can click on my business here and click add transaction, either way. So, again, I haven't submitted my documents for review in Dotloop. I haven't done any of that. I just have them uploaded, and I'm ready to move forward for document submission and also to request a DA to get paid. So I'm gonna come and connect and click add transaction. You notice here that pop up is going to appear. That's a dot loop importer. So here, I'm going to type in the name of my loop. And I think today, compliance loves me because I just keep making these test loops. Natalie's test loop, Wednesday. Right? So I can see it here. It's going to import the information run dot loop. Some of it, you will notice, will be prepopulated, and some of it won't, and you will need to fill it out, but it's very simple. So first, it's going to ask me for the address. It's going to have one here. Easy peasy. I get to move on to my next step. My next page in the transaction wizard is going to ask me for the transaction details. Notice it did import the transaction type from dot loop. But if this isn't correct for whatever reason, I can click my drop down box here and select the type of transaction that it is, and all the options should be here for you. So this is going to be a residential buy side. I have my close date. I'm going to add my contract execution date, which we'll put for today, and then the MLS number. This would be the MLS number of the property that you have listed as the listing agent or of the property that your buyer is purchasing, whichever one is applicable. You'll notice here, it's going to ask you, if you do not get paid at the closing table, how would you like LPT to receive the funds? Now we know that it's different in different states. Some states are split check. Some states are single check. If you are not a single, if if you're not a split check state, if you're a single check state, how do you want us to receive the funds so that we can turn that money around and pay you as quickly as possible? You have options. The first option would be that you could have the title company ACH these funds to us directly. If you would like to go that route, there's a ten dollar fee for that, and there's a link that you would need to complete with the title company. You can opt to have it mailed to LPT, and then we can turn it around and pay you. I don't recommend this method because we don't have a lot of control over the mail, right, and how fast things arrive. Sometimes things can take up ten days to two weeks for us to receive a paper check, but that is an option if you would choose that. You have the option to, have it sent to LPT via wire. There is a thirty dollar fee for that. However, wires take about, as we all know, about thirty minutes. There is a wire form that would need to be completed with a title company or closing attorney in that instance to get us those funds. Or you have check pickup where you are able to actually pick up the check from the title company or attorney at closing, and then you can take it to a Truist or Chase Bank branch and deposit it into our account so that we can turn those funds around to you. Now what I would say about that method, it's great. Although it takes about twenty four hours for us to see those funds within our account to be able to turn the funds around to you. So if you have a closing on a Friday morning, for example, and you choose this option, we likely aren't gonna see those funds in our account until Monday. So that's just something to keep in mind. There is another option for you that I would like to point out within Connect, and that is if you go to user preferences, you can actually sign up for our, JPMorgan Access mobile app, and there you can download and register for an app on your phone where you can actually take a picture of the check at closing, and that will upload to our commercial bank account, and we will receive that within minutes. So if you are in a single check state, I would highly recommend that you do enroll for that JPMorgan access app. Again, you're gonna find that under user preferences within LPT Connect. Now these are your options. Let's say and if you do choose the JPMorgan Access, you are going to check this check pickup option because you're still picking up the check. If you're in a split check state where you're paid by DA, then this is really not applicable to you, so you can leave this section without selecting anything and move on to your next step. In our next tab, page here, we have the sales information regarding the property. So let's say our sales price is five fifty, and I really got my clients a deal. And then my commission type, I have the option to put in a percentage or a flat amount. In this instance, I'm going to say it's a percentage, and I'm getting paid three percent. You notice here there's an option for, is your commission being paid in installments? This really is referring to commercial transactions and or builder transactions where the build is being done in phases and commissions are being released in phases. First, I I know some people have had questions like, well, can a consumer, can a seller or a buyer pay my commission in installments? That, unfortunately, is not an option just because it's not enforceable. The mechanism to enforce that should the seller or buyer just decide to not pay that moving forward is very problematic. So this type of installment would apply to only commercial and new new builds. So just wanna clarify that. It's also asking us here to include any fees that we are collecting, okay, that we are collecting as the agent. So I'm collecting three percent commission, and I'm also going to collect a transaction fee from my buyer. So in this instance, I'm going to say and notice you have options here. You can be you can collect a transaction fee, an MLS fee, or, you could be collecting money in the form of a bonus. Right? Sometimes that is applicable. Let's say here that my transaction fee, I'm going to charge three hundred and ninety five dollars to my buyer, and then I'm going to submit that information. You see that it adds it here, and then it's going to keep an ongoing tally on the right hand side of the screen as we move through these questions. Once I confirm that there's no other fees that I'm collecting as the agent, I check this box and move on to our next step. Now we come to the client's page. And I would say the important thing to know about this is that when we get further in the wizard and it's asking us questions like, do you wanna give a buyer or seller credit to your client? Right? In this case, it's a buyer. Do I wanna give Casey Haas, let's say, a thousand dollar credit for my commission? I would have to make sure that the client's name and information is added on the client's page in order to allocate that money to her moving forward. So it's important that you do add your client's information here. Notice that it did automatically import me, although I am the agent. I am not a, quote, unquote, client. That's okay. We're aware of that. We're working on that. Notice maybe Casey Haas has a spouse, and I didn't add him in dot loop, and now I need to add him. You can manually do that by clicking add new client. Notice that it will ask what their role is, similar to dot loop here, And then their name, address, you this information is optional. But I would wanna say at minimum that you would want to I'm gonna delete this one because I didn't fill it out. At minimum, you wanna make sure that you have your client's name, email address, and their role. So I'm gonna tell the system that Casey Haas is my buyer. Again, you can fill in this additional information if you like, and then it's going to label her here as the buyer. You wanna make sure anyone whose name is on the contract involved in the transaction is added on your clients tab. Moving on. Parties. Okay. So notice here it directs us that all parties involved in the transaction should be included or listed here, such as the opposing agent and or broker, the title company, if it's a referral agent, a mentor, a lead source, and any other relevant entities. So I'm going to say here that this, is a buyer lead from Zillow. K? So I'm going to add a new party. The party type is referral. Notice how when I click referral, it populates. Is it an existing referral partner? We do have these options hardwired in for you. So if it is a lead you're working from Zillow, Opsview, or Home Value, you can come in and simply select them, and it will prepopulate the information. Let's say this referral partner wasn't an existing referral partner. It was just Jane Doe at Keller Williams. Then I can simply come down here and put in Jane Doe's name, put in the information. She's with Keller Williams. However I like, she is party to the transaction. I'm going to add that party, and you see that Zillow is now populated there. Same concept here. When I get to my subsequent pages that we're gonna look at, it's going to ask me about referral fees. And when I go to add referral fee, if I don't have that party added to the transaction, I won't be able to assign that referral fee to a party. So it's very important to make sure that all your roles are filled out here just like you do, in Dotloop, just to keep it clean and neat. Keep in mind, this is replacing the commission intake form. So any information that you would put on the commission intake form, we wanna make sure that translates here as well so that we can calculate your payment correctly and have all the correct information. Okay. So I have my party's page. I'm gonna move on to the next step. It's going to ask me, are there any fees owed to the opposing broker from your commissions, such as an MLS fee. Again, love to hate it. When we have those MLS fees pop up. Right? Here, I'm gonna put yes just for demonstration purposes. Let's say that the listing agent is charging an MLS fee out of the commission, and let's say that MLS fee in this instance is two hundred dollars. There again, you will see it memorialized and tallied on the right hand side, and we're gonna move on to our next step. Credits. K? Now we get to say, hey. Are you giving any credit to your buyer or your seller from your commission? Yes or no? Let's say that I'm going to give Casey a thousand dollar credit. Notice when I click yes and I add the credit, I have to select the client who is getting this credit, and it's pulling this information from our client's page, which is why it's important to fill that out. And the son is not gonna be my friend today, so I'm gonna move a little bit. Okay. So, Casey, what type of credit am I giving her a percentage or a flat amount? I'm going to give her a flat amount of one thousand dollars and add that to my transaction. You'll see here the information. Again, it has the breakdown on the right hand side, and we're gonna move on. Okay. Do you owe any of your commission to a referral source? Now the party's page is where we just added our parties. Now we get to say who is receiving what. Well, notice that it has pulled over Zillow automatically because I added them under parties as referral. So here, I'm going to toggle over to yes. I'm gonna take a look at Zillow. Notice that it has hardwired in thirty percent because that's what Zillow charges. So I'm just checking that. Also, make note that if here let's say it said Jane Doe here. Right? Because I added her as a referral partner. You would go here to edit when it populates and make sure you have the correct percentage in. But I also like, I recommend in any scenario, whether it's hardwired in or whether it's somebody you're adding, that you make sure that percentage is accurate. Notice you have an advanced options button here, and let me just briefly touch on this. So referral splits, how they're calculated can vary, and here's what I mean by that. So for instance, when I am giving a referral fee to Zillow, they're going to take the total commission amount, so the commission plus the transaction fee, any bonuses, anything that I collect as an agent, Zillow wants thirty percent of that, and that comes off the top. It's the first thing that is deducted when the transaction closes and when we're calculating these splits. So in the instance of does the referral split exclude the fees listed below, meaning is my transaction fee, am I giving thirty percent of that to Zillow? Yes or no? Well, I already know with Zillow you have to. That is what they require. But if I'm giving a personal referral to Jane Doe, typically, Jane Doe would take twenty five percent, if that's what we negotiated, of my three percent commission, but not necessarily on the three ninety five transaction fee. So if this was a referral between agents and not to a referral source lead company, typically, I'm going to be excluding that amount so that it doesn't get calculated. Thirty percent of that does not get taken as well. You also have the option for the MLS fee and the credit to be included or excluded here too. Keep in mind, if you don't know, if you have questions, that's perfectly fine. This is just an intake form so that we can process it on the back end compliance and our DA team is going to be looking at all the numbers, matching everything up. So if you have questions or you aren't sure, just make sure you put it in the notes for our team, and we'll work with you to make sure we get to the correct number. Moving on to our next step here. Okay. So notice how we have two red boxes over here. It's talking about the transaction fee hasn't been met because on LPT, we have a transaction fee on every transaction of one ninety five. So it's saying, hey. Where is that money coming from? Who is it coming from? And then it automatically calculates that I charge a three ninety five transaction fee. So after the one ninety five is paid, who is getting that additional two hundred dollars? Is that gonna be you? Is that gonna be a coagent on the deal? How will that be calculated? So here is where you're able to calculate in splits. Okay? So if you're on a team, for example, and you owe a team lead twenty percent or ten percent of the transaction, this is where that can be addressed to. And for TCs, we'll talk about some of that in just a moment. But to move through this, when you get to this page, and I wanna make sure the language is clear and it doesn't confuse, It wants to know who is the primary commission going to. Who's the agent on the deal that's receiving the money and how much of it? So when I click add primary agent commission, notice it has my name hardwired in here because I'm entering the info, so it's assuming I'm the transaction owner. Right? Then it's going to give me options. It's going to say I can designate this as a twenty percent low GCI opt in, so I could check off that box if I'm choosing not to pay this per my comp plan with the one ninety five transaction fee. And then it's also gonna give me the option to designate this as a personal transaction. Keep in mind, personal transactions are if your name is on the deed, and it, you know, it can't be, like, for your mother, for instance, where your name is not actually on the deal. But if it is, you can designate it as a personal transaction. Then it's going to ask you the split type. How much of this commission are you receiving? Now of this three percent plus the three ninety five that I'm collecting, am I receiving a hundred percent of this, or am I splitting this with another agent? Who is paying the transaction fee? Notice it currently says zero. Just for demonstration purposes for now, I'm gonna say that I'm getting a hundred percent. Let's say that I am also paying the one ninety five, and notice how when I type that in, it's allocating those funds from my commission to the one ninety five, the LPT collects. And then it's asking me to allocate the excess, the two hundred dollars. Right? Because after the one ninety five, I still have two hundred. Who is that going to? If I'm collecting that, then I'm putting two hundred here. Notice there's gonna be a note section. There's gonna be a note section in almost every pop up tab that we have. So if you have questions or you aren't sure, type in as much detail as possible. We'll be happy to work it out and answer, the team will get with you just like on the commission intake form. So here, I'm going to add split because I'm saying that a hundred percent of the commission is going to be. You can see that it shows here. Let's say I am co co, brokering this deal with another LPT LPT agent. Let's say I'm working it with someone else, and we need this transaction commission to be split. You can toggle over to yes, select add split. Notice here that when I select agent, it's going to ask me to type in the name. I'll see if Meredith comes up. Not that's okay. Alright. So I'm gonna type in her name. I'm gonna say that, hey. Meredith worked with me on this deal as a co agent. She's receiving actually fifty percent of this. K? Then I'm going I have the opportunity. Let's say I only wanted to pay on my end as the primary agent a hundred dollars of the one ninety five and Meredith was gonna pay the ninety five. You're able to split that up between the two agents by filling in these boxes like so. So on my box, I would have filled in a hundred. On Meredith's box, I would have filled in ninety five dollars. Same thing for the two hundred dollars if there was still a balance there, which it will tell you here. Again, you can write your notes to your specialist. So this would be how you can add a team split as well. If you're on a team and you owe a percentage to your team lead, you would type in their name, also if it's a percentage or a flat fee that you owe them and how much that is. K? I'm going to click add split, and you'll see that here when I click edit now, it defaults my percentage to fifty percent because I added in a split for fifty percent. So it's gonna calculate that and update it automatically. You just have to click on it to see the update. Now my two red boxes, they're green because I have designated who's paying that one ninety five and then who is receiving that excess two hundred dollars. And then you see my ongoing tally over here of all of the fee breakdown. Now what I do wanna say about this ongoing tally on the right. So this remember, this isn't like a one and done. We aren't just sending out a DA from here. We're still doing some work on the back end. You're still submitting your forms through this wizard so we can make have you clear compliance. We're still calculating all the fees to make sure everything's correct. So notice here that it does say in red your LPTR comp plan fees are not included in this calculation to the right. It will be calculated on the back end like the transact or like the income the commission intake form always has been because this is just a mechanism for us to receive the information faster, faster for you to put it in, cleaner, so we will be calculating it and getting you the information for the final DA. Another kind of point I want to to make, you have noticed two buttons up here. You can choose to come in here at any time and submit your documents for review just by clicking this button. So you can opt to not fill out the commission intake form right now and go through all of these steps. Maybe you just want compliance to review your file. You can come in just like we did at the beginning. At any point because it's just your compliance files without completing the wizard, you can just click the submit for review. That means your documents in Dotloop will be pulled over to a compliance specialist for them to go over your documents. Opposite of that, you could come in and just fill out the commission intake form, and maybe you don't want to submit your documents yet. Maybe there's a lot of changes and you're not ready to go through with actually having someone review them. You can click submit intake form, which is all of this information about how funds are going to be calculated and split. So you can choose to do one or the other if you like. If I fill this out and I get this is my last page of the commission intake wizard. I enter all my information. Notice here it says submit file for review. Once I click this green button down here and I fill out the wizard with the preliminary info, it's going to have a box for me to, again, write more notes, right, which I'm a huge fan of. Once I click submit, it's going to send the intake form, and it's going to send compliance my files from Dotloop for review. So there's two things we're replacing in Dotloop, the commission intake form and the submit file for review process. That is what the commission intake wizard replaces. So once I click submit here, I then know that compliance has it. I can also come to my transactions here, and I have a lot of different let's see. Test loop Wednesday. So it's not populated in here yet, but you will be able to come back and find it in here, and it will have a status. Like this one, it's submitted for review and, pending compliance. What if I wanna make a change? That's kind of what I'm getting to. Right? What if I have a change to the file that I need to address? Maybe I submitted my forms for review and the commission intake wizard, but now I'm giving a two thousand dollar credit, not a one thousand dollar credit. I come into my transactions. I find the transaction, and I go to the intake wizard again inside the transaction. And you'll notice here it says your file is currently being reviewed by our team. To update your transaction, please submit a change request. So I'm gonna come over here to request change, click on this button, and then I'm going to list out the notes I have for the compliance specialist on how what I need changed. Okay? So it really is as simple as that if you have a change, you need to submit. The other thing, I will note is that, and I'm going to stop for a minute and go to the chat to make sure we can answer some questions. I know Shana's been in here helping. So TCs. Right? I know that's a big question. We will need to know if you have an outside TC. Right? If you have a contractor who is not part of your team, they're not with LPT, they're completely outside, then you will need to figure out how you're going to get those files submitted with them. Right? I know some people prefer to share logins, don't necessarily recommend that, so that your TC could come in and fill it out if you prefer. For TCs that are a part of a team that are with LPT, we actually have them designated as TCs within Connect, within the system so that they can enter these commission intake forms on behalf of the people on the team. So we do have a process for that, and if you have specific questions on TCs and how that's going to work, please submit a ticket so that we can get in touch with you. Going to the questions. If you're going to charge your clients the one ninety five transaction fee, Can you go over the steps for how to input this? So if you're charging a three ninety five transaction fee, LPT is going to assume that you are charging your transaction fee to your client. So if you're not and you are paying the transaction fee, I would make a note, Jared, in the note section that you are absorbing the transaction fee on behalf of your client. K. Let's see. I see Shane is giving great information about TCs. And this process, again, guys, this is to get us information faster and hopefully quicker as opposed to you having to fill out the commission intake form. As you know, we have to have that commission intake form from Dotloop to calculate your numbers and DAs in the past. This is just hopefully a cleaner, faster way to get us that info, do everything in one place. It will be expedited as opposed to being a manual form like it has been in the past. So I know it's not replacing the DA process. We still have to have the DA team. You still have to have a DA to get paid. However, it is helping you. It's helping us get the information faster. Yeah. Great question, Tony, on sharing a seat. If you can put in a ticket on that question specifically, and we'll get back to you on that. I just completed my loop and submitted yesterday. Do I still find this out on two point o? So, Cynthia, if you submitted through Dotloop yesterday, then we should already have that if you did it the old way. We're not abolishing the commission intake form yet. Right? We're not making a hard turn and being like everybody has to use the commission intake wizard starting today. However, we do want to move towards that process, because it is going to make it again much cleaner, much faster for all parties involved. So if you have used, the commission intake form in Dotloop and submitted your files for review that way, that's perfectly fine. You don't need to redo it within Connect two point zero, but I would say if you're able, if you have one you need to submit today or tomorrow, try out the process. Try to to fill it out, move through it, and and see how it works because I think it will be much faster. So if you think you filled it out wrong, Cynthia, you can submit a ticket, or in your dot loop, you can add a note to the file, and that note will ping the compliance specialist. We can talk through that. How can you find out if you're in a single check state? So, Suzanne, you can put in a ticket. You can ask your broker. That would just I I would have to look at your specific state and to answer that and find out as well. I don't have them all memorized. Okay. Awesome. Any other you guys have great questions. If we have a rush closing where the closing date has moved up, What is the best way to expedite getting your DA? It would definitely be Jonathan doing it through the commission intake wizard and also making a note. When you go to submit that, make a note like, hey. This is a rush. I need this turned around as soon as possible. Again, all the things you would typically do with a commission intake form. As an extra precaution, you could also, after you submit it that way, just put in a ticket with that urgent symbol. You guys know you're able to submit tickets with priority status. So if it is urgent, you can mark it that way. So when we receive the ticket, we can see it in two places. Like, hey. This is a rush. This is a nine one one. That would be the best way to cover all bases if I was had a rush I needed. So, I'm gonna go ahead and, wrap this one up. We have more classes coming up today, and unfortunately I'll probably get kicked off soon if I don't end this one. You should have an email that you had got last night or today that gives you the links of all the classes coming up today. It comes through our our Mailchimp, and we make sure we get those out as early as possible. Again we're teaching classes at eleven, four, seven, and ten p. M, so I think we have marketing coming up this afternoon. There will be more guided tours. Put in a ticket if you have question, guys. We're happy to assist you and learn this together. We appreciate you, and I hope you have a good Wednesday, and we'll see you soon. Bye.