The CommFact Application is a brand new application, and was created exclusively for
TheCommissionFactor.com. TheCommissionFactor is a small start-up company that advances
real estate commissions for agents. They needed a working solution as quickly and cheaply
as possible and wanted to be sure that the application would not require a lot of back-office
staff to manage.
TheCommissionFactor home page
The CommFact application is used by the real estate agents and brokers employed by
TheCommissionFactor.com as well as their clients. The program allows them to request
an advance on their real estate commission. TheCommissionFactor staff review the applications
and either approve the request and send the money out, or decline the request. At the close of
escrow, the escrow closing office uses the agent’s or broker’s commission money to repay the advance
to TheCommissionFactor.
An agent or broker begins by registering on the application’s main web page. The
application collects their personal information including license number, agency information,
and personal residence owner information. Once the information is submitted, a user account is
created but remains “inactive” so the agent or broker can not access the system yet. They automatically
receive an email notification to this effect. TheCommissionFactor staff also receives
an automated email that a new user has registered. They log on, see the “pending” users and either
activate or lock the user’s account depending on if the submission is valid. An email notification is
sent to the user with their user name and password and how to access the site and submit applications
if they are approved. The client requested this type of verification process to prevent competitors
from viewing a majority of the site, making it hard for them to duplicate the application.
The Edit Application Submission screen allows administrators to modify submission details, as well as manage checklist To-Do’s
Next, the user completes an application submission in order to request an advance of
funds. After filling out the online form, much like a loan application, TheCommissionFactor
staff is notified via automatic text message that a new application needs processing. PDF documents
are automatically created when a new application is submitted and automatically emailed to the requestor
to “wet-sign” and fax or mail back to TheCommissionFactor. Also, when the submission is saved to the
database, a configurable Checklist of To-Do items are applied to the new application, each of them marked
as ‘Undone’ and in a specific to-be-done order. TheCommissionFactor staff can then simply follow the To-Do
list, performing each back-office task, such as ensuring a signed document is received by the broker via
fax or mail, ensuring the agent actually owns the commission on the property that will soon close, etc.
As each item is completed, they check off the item. This process could take a full day to several days,
depending on how speedy the requestor is at providing the needed documentation.
Finally, while the requestor is waiting for their application to be approved, they can access
the site and view their submitted applications and details. Although the requestors cannot see
the To-Do checklist details, they are able to clearly see the calculated percentage of completion
for that submission. This keeps everyone informed of the progress as it changes.
The View Detail of an application submission allows Administrators to review a checklist To-Do items
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