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Step 7: Get Paid

  • Updated

It's time for the best part: you get your commission!

Just to re-cap, you've completed the following:

  1. Entered the Deal in reZEN
  2. Uploaded all Documents on your Checklist
  3. Calculated & Approved the Commission
  4. Broker Approved the Transaction
  5. Sent the CDA
  6. Confirmed Funds Sent to Real

Once we receive the funds from closing, our team will balance the funds in the transaction, close the file & issue payment to you. Once your payment is processed by our team, you will receive an email letting you know your payment has been processed. The Subject is: Payday! Your Payment has been scheduled.

Contents:

 

Step 1: Upload your final settlement statement and proof of payment to your Transaction Checklist. 

This is the same process as Step 2: Upload Transaction Documents

 

Step 2: Real's Transactions Team matches funds received in our bank account to your transaction. 

  • Reminder: this is why the reference number is so important. It helps the team match funds received in our account to your transaction. 

Once your transaction is closed please ensure the status of your transaction is Commission Document Sent so the Transactions Team can process you transaction and approve it for closing.

If your transaction has been in Commission Document Sent status for more than 3 days and your file has not been approved for closing and please check the following:

  • If the commission payer (Title/Escrow/Attorney) sent a wire: 
    • Please reach out to Closing/Title/Escrow to verify the wire was sent successfully; and
    • obtain a wire confirmation to upload to “Proof of Payment – REAL” on your checklist. Need help uploading documents? Check out: Upload Transaction Documents
  • If the commission payer (Title/Escrow/Attorney) sent a check, please confirm: 
    • (a) where the check was sent; 
    • (b) the check number & amount; and
    • (c) when the check was sent.
    • Please comment this information and upload a copy of the check if available under “Proof of Payment – REAL” on your checklist. Check out: Upload Transaction Documents.
    • If the check was not sent to our CA Office, please have the Commission Payer (Title/Escrow/Attorney) resend the check (or issue Wire or provide copy for Mobile Deposit) --

CA Office Address:

Real Broker, LLC,

39899 Balentine Dr, Suite 200

Newark, California 94560
 

  • If you used Real’s Mobile Deposit:

    • Your Deposit should be confirmed within 24hrs.
    • If it is not showing confirmed in the deposit tab after 24 hours, please contact Real Support.

How to Contact Real Support

 

For our transactions team to settle a transaction, the deposited commission amount must match the expected payment to Real.  

If the amounts do not match, you will see a message on your Deposits page that says There's a difference between the expected and confirmed deposit.  Please review the details and make any necessary adjustments.

If you see this message, you have two choices:

  1. Contact your closing company to settle the discrepancy if they made the payment incorrectly.
  2. If the amount deposited is correct, you will need to edit your transaction so the amount we received matches the expected payment amount.  Learn how to edit your transaction here: How do I edit a Transaction?

Need help balancing your transaction? Contact Real Support — they can help make sure the numbers match and everyone is paid correctly!

How to Contact Real Support

Step 3: Once your closing funds are matched to your transaction, our closing team will close your file and update the status to Approved for Closing. 

Please allow 3-5 days for the file to close and funds to transfer to your account.

 

Step 4: The transfer to your account is in progress. 

You will see one of the statuses below (depending on your State). You will also receive an email letting you know your payment has been processed. The Subject is: Payday! Your Payment has been scheduled.

 

Step 5: Payment arrives in your account. 

Standard bank processing times apply. It may take up to 3-5 business days before funds reach your account, depending on your financial institution.

  • You can also click on the Outgoing Payments tab of your transaction to see the amount paid and the status. 

    • Paid at indicates the date we sent the payment to our payment processor. It may take up to 3-5 business days from the Paid At date before funds reach your account, depending on your financial institution.
    • Sent to Payment System indicates the payment was sent successfully to our payment processor. 

You can click on the Outgoing Payments tab on the transaction to see:

  • Amount paid
  • Date payment made
  • Confirmation code

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