Co-Brokering a Mortgage

You can co-broker a mortgage by "giving" the mortgage to another broker or agent outside of your firm. Co-brokering a mortgage is done through the Participants screen. Complete the following steps:

1. Open the Participants screen by clicking Participants in the Left Navigation Pane.
    

2. Scroll to the CoBrokering History section at the bottom of the screen and click the Co-Broker Now button
   
   
   
   
   Note: A shortcut exists to access the CoBrokering History section. From the left navigation pane, select Shortcuts > Co-Broker Deal.
    

3. Click OK to the confirmation message that appears. The Co-Broker Deal screen appears.
   
   
   
   
    

4. In the Mortgages section, check the Select checkbox of the mortgage to be co-brokered.
    

5. If splitting the commission with the other broker, select the Split option button and enter the appropriate percentage values in the Existing Agent % and New Agent % fields.
   
   or
    

6. If paying a flat referral fee to the other broker, select the Referral option button and enter the fee in the Referral Fee field.
    

7. In the Agent Search Criteria section, enter the search criteria in the available fields, and then click the Search button. The screen refreshes to display the search results.
   
   
   
    

8. Click the option button of the agent you want to co-broker with, and then click the Proceed button to submit the mortgage to the broker.
    

9. Click OK to the confirmation message that appears.
    

10. You are returned to the Participants screen, where the CoBrokering History section displays the details of the mortgage that has been co-brokered.
    
    
     

11. When the mortgage is sent to the other broker, the following occurs on that broker's side:

1. • The broker receives an e-mail notification informing him or her of the co-broker mortgage. The e-mail includes details that allow the broker to search for the deal.

   • The Participants screen shows the original agent or broker as the Referral Source.
      

12. Continue as normal with the submission and closing of this deal.
     

13. Upon completion, the Commissions Record for this deal can be completed. When splitting the commissions fee, you will be required to add the original broker/agent. See Splitting the Commissions Fee for more information.
    
    Note: You will continue to receive e-mail notifications on the deal.
     

14. See Things to Know About a Co-Brokered Mortgage