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Processing Touchpoints to Agents
The Processing Team consistently communicates with agents to ensure timely submission of paperwork, ensuring compliance and prompt processing of agent payments.
Below are the common emails that are being sent to agents:
Active Status
New File for Your Listing – When the Processing Team identifies a listing as Active or Coming Soon in Bright, a new Paperless file is created. The team then contacts the agent to request the submission of listing paperwork.
Pending Status
New Pending Transaction – Paperwork Request – The Processing Team continuously monitors newly ratified contracts and proactively contacts agents to remind them of paperwork submission and the EMD due date. This ensures timely contract review and helps maintain compliance.
Congratulatory Email – When a contract is received, the Processing Team sends a congratulatory email to the agent, acknowledging receipt of the contract. The email also includes a list of any additional paperwork needed to complete the file, as well as any documents that require revisions (if applicable).
EMD Letter – When Redwood is the designated Escrow Agent and receives the EMD, an email is promptly sent to the agent to confirm its receipt.
NOTE: Click here to view the guide: Redwood is Holding Earnest Money Deposit (EMD), What is the Next Step?
Pre-Close Reminder – To ensure all paperwork is submitted before closing, an automated email is sent five days prior to the scheduled closing date. The email includes a list of any missing documents, giving agents sufficient time to submit everything before closing.
Closed Status
Post-Close Reminder – After closing, the Processing Team proactively contacts the title company to request the Settlement Statement (except for TC Files). However, if contact information is unavailable or the title company is unresponsive, the team will reach out to the agent instead to request the Settlement Statement and any other necessary paperwork to complete the file.
Have Funds Cannot Pay – If commission funds have been received but the Processing Team is unable to close the file or process the agent’s payment due to missing documents (e.g., cover sheet, settlement statement), the team sends an email notifying the agent that funds have been received, but the necessary paperwork must be submitted to process the commission.
The Transaction is Processed but we are holding pay – Commissions team processed the transaction but is holding the agent’s payment for one of two reasons: either required transaction documents are missing, as mandated by state law or Century 21 Redwood Realty, or the commission funds have not yet been received. This is communicated immediately to the Agent.
Post Closing Process:
Click here to view the guide on Commission: Payout Process, Breakdown, and Deductions.