What is a CDA? How Do I get paid?

What is a CDA?

A Commission Disbursement Authorization, also know as a CDA, is the invoice to the title company of the commission you are owed. Whether payable by the Buyer or Seller. 

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How Do i obtain a CDA for a transaction?

CDA's are created by the Brokerage. To get a CDA for a transaction you must upload the transaction into backagent (View the video above). 

This is what a CDA looks like:

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What do I do after i get my CDA?

Once you enter in all the information in Backagent, the transaction will be reviewed by our Legal Team to ensure you submitted all the correct documents with signatures and execution dates. If your CDA submission gets denied, you will get an email noting what you did wrong and an opportunity to fix it and resubmit. 

Once your transaction is approved, you will be emailed your CDA. You will then send the CDA along with a .pdf of your bank account instructions to the Escrow Officer at the title company that you have been working with the entire transaction. The image below shows how to properly send the CDA and bank account instructions. 

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 If you only send the CDA without the bank account instructions or instructions to the Title Company on where to receive your funds, then the entire commission check gets sent to the brokerage, OnDemand Realty will need to wait for it to clear the business account and then we can cut you the check. This can take up to 7 business days. We dont want you all waiting on money. You earned it, you should get it immediately! ENSURE YOU SEND YOUR WIRING/BANK INSTRUCTIONS TO GET PAID IMMEDIATELY.