How Do You Know When Offer Was Presented in Dotloop

Using Dotloop at Primal and Purchase Agreement Review

How to utilize Dotloop at Key Realty including submitting for review, loop set and folder due dates as well as an overview of your local board contact/purchase agreements

Understanding Dotloop Terms

Setting Up Your Loop Templates

How to set up your loop for DUAL BureauSubmitting your Loop Folders for Review

The Review Process

Dotloop Tips To Remember

Key Realty Commission Disbursement Policy

Common Transaction Scenarios and What To Do

Dotloop Help & Support (Videos)

• Part one - Getting Started and Business relationship Settings
• Part 2- Loop Creation and Direction
• Function 3- Managing the Documents
• Part 4- Finishing upwardly
• Office 5 - Using Dotloop Mobile
• Part 6 - Contracts (Local Contract Preparation)
• FAQ's

At Key Realty we use Dotloop to streamline the certificate submission process and expedite commission payments to our agents. It provides Primal Realty the opportunity to spot contract errors, verify State and Central Realty compliance and to help our agents from getting defenseless up in a potential liability result.

Understanding Dotloop Terms

Loop - An private loop inside your Dotloop account

Folder - A folder lives inside a loop and merely inside loops. You may have multiple folders inside a single loop.

Why do forms say they are optional?

When Dotloop forms are created in the Dotloop templates, nosotros have two choices: i) Optional 2) Required to Submit. We cannot create documents as 'required to submit' because they would not apply to each deal. Nosotros create all forms available in the templates equally 'optional' and provide to the agents the Amanuensis Processing Checklists for listing, sales, and endmost as a guide for what is required or not required for each stage.

If a required form is not in your folder or if you have additional information about this bargain that you can provide that will assist the Support Team with processing your loop, please be sure to add together a comment on the Agent Processing Checklist.  This greatly helps the support team while they are reviewing documents.

Setting Up Your Loop Templates

Information technology's important to think when setting upward a loop that y'all apply a loop template then that all of the documents and folders yous may demand throughout the grade of the transaction are available and organized. Keep in mind that each Listing, Auction and Closing folder each have a folder checklist that is required to be completed and signed past each agent BEFORE submitting for review.

1. Click Create a Loop
2. Enter the property address equally the loop name
3. Click continue and select the listing loop or ownership loop template.
4. Click continue. Yous may choose to upload a photo of the property but information technology is not required.
5. Click washed. Your loop is at present created and you may click on the loop accost or the view loop push button to proceed.

The Listing Loop

Your list loop volition contain 4 folders outlined below. Each folder is DUE inside 48 Hours after the documents for that specific folder are signed according to the folder checklist.

Listing Processing -  This is where your listing agreement and other documents get when you are listing a house for sale.

Sale Processing - This folder is where the sale documents become when your list goes under contract.

Endmost Folder - This folder contains all of the closing documents after the home has airtight such equally sale addenda, Inspection Release Forms, Disbursement sail, copies of the check and the HUD/CD/Settlement Statement, etc.

Misc - This folder is available to keep any documents that are not role of the checklist in the other folders. Items such as a abode inspection study or quotes for the transaction are some examples of items that would be kept in the misc folder.

The Ownership Loop

Your listing loop will contain 4 folders outlined beneath. Each folder is DUE within 48 Hours after the documents for that specific folder are signed according to the folder checklist.

Sale Processing - This folder is for the purchase documents for the transaction.

Closing Folder - This folder contains all of the endmost documents subsequently the home has closed such as sale addenda, Inspection Release Forms, Disbursement sheet, copies of the check and the HUD/CD/Settlement Statement, etc.

Misc - This folder is available to proceed whatsoever documents that are not function of the checklist in the other folders. Items such every bit a home inspection report or quotes for the transaction are some examples of items that would be kept in the misc binder.

How to Set Up Your Loop for Dual Agency

(both sides of the bargain)

Practice NOT Create a separate loop for the buyer

When you are using the listing loop you lot will accept three (three) folders:  Listing, Sales, and Closing. Follow these steps below to gear up your loop when representing both sides of the transaction/deal.

1. In the Sales Processing - Listing Folder, add the following required documents for the buyer to sign from the Dotloop Templates:
   1. Consumer Guide
   2. Anti-Fraud Advisory Form
   3. Buyer Advisory
2. Utilize the Sales Processing checklist to ensure that BOTH Buyer and SELLER have signed the required documents for all transactions and that the buyer has signed the boosted required documents when representing the buyer.

Submitting your Loop Folders for Review

Our goal as a company is to protect the client, agent, and brokerage by overseeing document compliance and to go our agents paid quickly.

When do I need to submit my folders? ⏰

Submit for review listing, sales, and closing folders inside48 hours of completion.

Do not await to submit a list and/or sales folders until the endmost.  Submitting all folders at the time of closing could delay payment and reduces the risk of obtaining compliant documents.

Tips for submitting your folders

• Proofread your documents for accuracy and utilise the checklist to make up one's mind the required documents prior to submission.
• Add a Dotloop message or a annotation on the checklist of whatever exceptions or comments.  Please notation that the messenger characteristic of Dotloop is only used for outgoing communication from our compliance squad to you lot the agent.  For help with your questions, reach out to your regional helpline to contact your local manager.

The Review Process

Sales & Listing Folders

• If a correction is needed, we will approve the sales and/or Listing folder pending the correction. Do Not resubmit for review. Your Sales and/or Listing folder should only be submitted ONE time.
• Ensure you upload the corrected documents to your sales and/or listing folders that were requested if your binder was returned pending corrections prior to submitting your closing folder.
• It is your obligation equally a licensee to provide the brokerage with a complete and compliant file.  E & O may not cover damages if the amanuensis-provided documents are non compliant.

• Once more, do Not resubmit the corrected folder for review.  We are counting on you as professionals to ensure that corrections are made in a timely mode, prior to endmost.

Closing Binder

• Ensure y'all accept uploaded any missing or incorrect sales and listing documents before submitting your closing folder for review. This is when the compliance team will recheck your sales and/or listing folders for the requested corrections.
• If your closing binder is returned, brand the necessary corrections and re-submit for review. The closing folder is the simply binder you may submit for review more than once.

What order folders are reviewed in?

There is a sure club in which folders are reviewed.  Each solar day, closing folders are reviewed offset for those loops that take a compliant and canonical listing binder (if applicative) and a sales folder.   Proceed in mind, nosotros cannot procedure and approve your closing folder if your sales and or listing folders have non yet been approved.  After closing folders are approved and the commission payout process has been completed, we will then review sales folders in the review queue and lastly list folders. Please note that it may have 2-3 days for your listing folder to exist reviewed. You do non need to resubmit your list binder.

Recap of the order in which folders are reviewed:

• Closing Folders with approved sales and if applicable, listing folders
• Sales Foldersin the social club of submission
• Listing Folders(It may take ii-3 days for your list folder to be reviewed, don't worry, we volition review your list folders )

What Labels to apply when submitting for review

When you are ready to submit a folder for review Dotloop volition enquire you the folder blazon and give y'all a list of options from a drib-down menu. Here are binder types explained and when to use:

List - Only for the Listing Processing Binder

Buying - Auction Processing (Listing or Buying Side) and Closing Processing (Listing or Buying Side)

Listing Processing - (If Applicable) List folders are reviewed equally fourth dimension permits depending on the volume of closing and sales folders that need to be reviewed.

Sales Processing - If you are on the listing or buying side of the sale, your sales folder will need to be reviewed before your closing folder can be candy.

Closing Folder - This is the final folder to be reviewed. Your sales (and if applicable, Listing) folder must be reviewed earlier your endmost folder can be reviewed and canonical.

File Bombing - A term used when all folders are submitted on the same day. This will crusade delays in the amanuensis getting paid for their closed sale. It also creates issues for the amanuensis trying to get signatures from clients after the sale has closed.

What happens when you lot submit your closing folder belatedly

• Your Endmost Binder will exist processed no later than the next concern 24-hour interval after information technology is submitted for review OR Within 3 BUSINESS DAYS OF REVIEW OF YOUR SALES FOLDER AND (if applicative) List FOLDER.
• For example, if y'all submit your Sales Folder and your Closing Folder for review on the same day, your Closing Folder may not be processed for 3 business organisation days.
• The commission ACH transfer will be initiated once ALL required folders are reviewed and compliant.
• To ensure your committee payments are not delayed, please submit your completed Listing and Sales Folders inside 48 hours of having a completed file/binder.
• If you have any questions, please contact your regional manager directly.

Our goal as a company is to protect the client, agent, and brokerage past overseeing document compliance and to go our agents paid speedily.

Dotloop Tips To Remember

• List documents are only to exist submitted under "Listing" for review

• Sales and Closing docs are only to be submitted nether "Buying" for review (fifty-fifty if it was your listing)

• Brand sure your folders are named properly:  Listing, Sales Processing - buying side  or  Sales Processing - listing side, Closing

• You lot volition have up to three folders in your loop that will be individually submitted for review

• Y'all may have a Miscellaneous folder for additional documents that are not required to be submitted for review:  ie. Pb-Based Pigment Brochure, Home Warranty Brochure

• Add together a role to people in your loop, particularly yourself:  either ownership amanuensis or the list agent

• The Amanuensis Processing Checklist must be completed and signed for each folder before submitting for review

• The Disbursement Form is required to be fully completed and in your closing folder, signed past all agents receiving committee on your side of the deal.

• Do NOT add the task checklists.  Only Admin. adds those for processing

• Review your file prior to submitting it for review.  Information technology should exist complete and compliant.

• Always add a Dotloop message to the Admin when submitting a folder for review to explicate whatever unique circumstances/paperwork, etc.

• The Authoritative staff does not encounter Dotloop messages unless nosotros are actively reviewing a folder.  If you have a question, only email information technology to your regional managing director.

Central Realty Commission Disbursement Policy

When the Closing Section receives via Dotloop:

• A folder that is compliant with State license police force regulations and Key Realty's policies
• The funds have been deposited and posted within Key Realty's commission account and, if the commission has not been ACHd to the committee account, we also demand a bank stamped receipt for the commission check deposit.
• By the finish of the post-obit business mean solar day, we will take initiated an ACH deposit of those funds into your account.
• For example, if a folder was submitted on Fri, it will be reviewed no later than Monday and an ACH will be initiated on Monday if the folder(s) is approved and compliant.  If a folder was submitted on a Tuesday, it will be processed no later than on Wednesday.
• Key Realty banks with 5th Third bank.  When Key Realty initiates an ACH transfer, the effective date is e'er the post-obit business organization twenty-four hour period, and credit to your account will depend on your financial institution's processing time.

Common Transaction Scenarios and What To Practise

Sale Falls Through - If you correspond the seller and the sale falls through following these steps:

1. Add "Terminated" to the front of the sales folder (ex. Terminated - Sales Processing - Listing Side) This will allow you and the Support Team to know what folder contains the terminated documents.
2. Add your fully executed termination form to the folder and submit for review
3. Create a new sales folder in the loop and load the sale processing documents from the templates section to that folder. Now you have a new sales folder to first the next sale in when the listing goes back under contract.

Tip:  We suggest that y'all add the heir-apparent's proper name to the sales folder proper noun to avoid defoliation if in that location are multiple terminated deals.

Sale Documents in another Loop - When yous represent the seller, oftentimes y'all will receive an offer from another agent and it creates an entirely new loop. Before opening or modifying the documents see this dotloop article on how to merge a loop.

If you are unable to merge the loops, you tin can select the documents and copy them to the sales folder in your original loop. It's important that your sales folder is located in the same loop as your listing folder when you are on the listing side of the transaction. Click hither for instructions on how to copy documents to some other loop.

Dotloop Aid & Back up

If you need dotloop assistance for "Non-Key Specific Issues" yous need to contact Dotloop Back up. There are a couple of ways to access this support.

When y'all log into dotloop, on the top left side of the screen yous will encounter * NEW DOTLOOP FEATURES! Learn MORE.  Click on the  Acquire MORE link then type in the Search Bar. This should bring up some articles that explain how to do what yous are trying to do.

If yous demand boosted support, identify your cursor over the Profile Icon (the tiptop-right icon). A drop-down menu volition appear and the lesser item will be: FOR HELP VISIT Grooming Middle OR Telephone call: i (513) 257-0551 - ID:########. Telephone call the support number and be sure to requite them your user ID number. We are paid subscribers then they will answer your phone call much more quickly if you enter your user ID.

If you have any questions, delight reach out to your manager.

Function 1- Getting Started and Business relationship Settings

• Customize "my account" settings
• Overview of People and Contacts
• Manage notification settings
• Add your local association/ lath forms to your templates

Part 2- Loop Creation and Management

• Creating showtime loop- demand video
• Using the "search" characteristic
• Adding People- Create
• Assigning roles- need video
• Managing People
• Share Documents with other Agents
• Drag and Drop
• How to include a PDF when sharing
• How to Fax Documents
• How to give others the same level of access
• Make and offer on an existing loop
• Loop views
• Filters and Sorting
• Archive Loop
• Annal a document
• Annal/Delete a Loop
• Using activity log
• Using and managing notifications
• Copying Documents
• Merge Loops
• Submitting for review at Key- demand video

Role 3- Managing the Documents

• Document editing features- create video
• Adding Documents
• Sharing Documents

Part 4 - Submitting Your Loop for Endmost - Get PAID!

Function 5 - Using Dotloop Mobile

• Using the IOS app
• Using the Android app

Part six - Local Purchase Agreement (Contract) Overview

Delight meet your region below for a specific overview of your area's buy agreement.

• Ann Arbor (Dennis O'Hare)

  

• Columbus (Aaron Singerman)

  

• Ohio Southward (Erin Rickman) -Dayton Board of Realtors Contract

  

• Dayton (Erin Rickman) - Columbus Board of Realtors Purchase Agreement

  

• Hillsdale (Dennis O'Hare) - Hillsdale Purchase Agreement

  

• Findlay (Doug Finney) Heartland Purchase Agreement

  

• Jackson (Dennis O'Hare) Jackson Area Association of Realtors

  

• Livonia (Thuy Gimby) Michigan Association of Realtors

  

• Monroe/Downriver (Robin Heath)

  

• Toledo (Phil Navarre) Northwest Ohio Real Manor Information Service

  

• Cincinnati N (Roy Webb) Cincinnati Purchase Understanding Review

  

• Upper Peninsula (Nathan Brabon) Upper Peninsula Purchase Agreement Review

  

• Thousand Rapids (Chris Petter) Grand Rapids Purchase Agreement Review

  

• NE Ohio (Marcy Imperi) Northeast Ohio Purchase Understanding Review

  

• Traverse Urban center (Jennifer Hastings) Traverse Urban center Buy Agreement Overview

  

• Troy/Rochester (Thuy Gimby) GMAR Purchase Agreement Overview

  

FAQ's

• I misspelled someone'due south proper name or email.  How do I fix it?
• Resending a document
• How Do I Alter My Name, E-mail, And Password

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Source: https://support.explorekeyrealty.com/using-dotloop-at-key

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