There are two purposes for generating a CDA on a transaction. 1) Generating a document that can be sent to whoever is handling the closing. This document, also known as a Commission Disbursement Authorization or “CDA” instructs the closer on how to pay out commissions. 2) The commission numbers you enter there are used to compile commission reports.
Generate a CDA
1. Start within the transaction by clicking [GENERATE CDA].
2. Once on the Generate Commission Disbursement Authorization page, any information that is already available in the transaction that matches what’s needed will auto populate.
Step One: Escrow and Title
If a contact has been added to the transaction with the role Escrow, Title, or Settlement, that person’s contact information will auto populate into step one.
Step Two: Sale Info, Buyer’s Name and Sale Price
1. Fill in the required information. Sale Info, Buyer’s Name and Sale Price will also auto populate assuming those were already filled in on the transaction.
2. Enter any commission or referral commission due to the selling agent.
3. Click [CALCULATE AND CONTINUE].
Step Three: Commission Split
1. The Commission Summary will be displayed if it was filled in within the transaction, otherwise fill in this information manually.
2. Verify the commission amount as a percentage or dollar amount. This would be the amount due to your company.
3. Express the referral to be paid out as a percentage or dollar amount.
4. Click [CALCULATE AND CONTINUE].
To learn more about this feature, see our help article: How to set up Deduction Types >>
5. Click [CALCULATE AND CONTINUE].
The next page will present a breakdown of all of the commission numbers entered.
6. Verify the information and make sure everything is correct.
7. Optionally, check the “Co-op Brokerage Commission & Special Instructions” box and fill out the fields below if the CDA should include how much to be paid to a co-operating brokerage. Any CDA instructions that were set up on your CDA template or CDA Settings Page for the selected office location will show up here.
8. Revise or add any additional information to show up on the CDA.
9. Click [GENERATE CDA] to complete the process. That generates the commission disbursement authorization document which is automatically added to the transaction. Just like any other document, it can be reviewed and emailed out of the transaction to whoever is handling the closing.
Financial Info on Transactions
Generating a CDA creates a new section in the transaction called Financial Info. Staff with access to the commission module will be able to see the brokerage’s share of the commission while agents will only be able to see their own commission numbers as well as the ability to download an agent commission statement.