Real keeps a record of all approved commission calculations on your file so we have a record of all changes. There are a couple items to take note of:
- Invalidated: Any old CDAs will be listed as Invalidated. This simply provides a record of previous commission calculations.
- Approved: The Approved CDA is the one that will be sent to Title/Escrow/Closing before closing. This is the final, approved commission calculation and is accurate for all parties. But - if anything changes and Real owes you money or you owe Real, we will adjust after Closing.
- Closing: The Closing CDA is created after closing, based on the actual date of closing. This identifies any amounts Real owes you or you owe Real based on anything that changed between the time the Approved CDA was submitted and closing.
What is the closing CDA?
The Closing CDA is the final and most accurate calculation of all amounts owed on the transaction. You will see this appear on your transaction after the transaction is closed by Real. This is what our team uses to pay you (or issue a refund, if needed).
The closing CDA is calculated based on the closing date. Any amounts that appeared on previous versions of the CDA that are no longer relevant will be removed.
You may go to Closing with a CDA that says “Approved” and in some states, you can be paid your commission at closing based on the Approved CDA. We will generate the “Closing CDA” afterwards to see if any amounts need to be refunded to you.