How to process a closing folder for a referral check received
Processing a referral check you receive is a simple process and very similar to processing a closing folder just as you would for a commission check.
Q: Who should the check be made out to?
A: The referral check, just like any other commission check should be made payable to Key Realty.
Q: Where should the referral check be sent to?
A: The referral (or BPO, CMA) check should be sent to your home address or, if being paid from another Key Realty regional office or a title company, it can be ACHd or wired to the Key Realty Commission account. If by chance the referral (or BPO, CMA) check has been mailed to the regional Key Realty office, you will receive an email when it arrives along with copies of the check, deposit slip, deposit receipt and any documents it came with so you can process your referral folder as outlined below.
Processing a Referral Check in Dotloop
Step 1: Create a new loop using the Referral/BPO/CMA Processing Loop template for the referral you received
Step 2: In the Referral/BPO/CMA Processing folder you will complete the following documents:
- Agent Processing Checklist - Referral which includes all required documents needed to process your referral.
- Disbursement Request Form
Step 3: Submit your Referral/BPO/CMA Processing folder for review under the "Buying" label just as you would a normal closing folder.