When we were first licensed....and you got an accepted offer..the closing file had a checklist...you made sure everything was in order...signed, initialed and dated and turned it in to the Admin person at the office.
In a number of our brokerages in southeastern Wisconsin...it is still done that way. The next thing the agent does is show up at closing...and once again...turns in a check so the Broker can take their share and days later...the agent gets their portion.
The mysterious magic is some shuffling of paper that is not explained...you don't know (or usually care) what the title company does...you just know in the end, there is a check. The documents...what numbers go on what lines and what they mean remains part of the magic....and what they 
mean...eh....doesn't matter...you got paid. You are made to feel in some cases that whatever happened "behind the curtain" was not for you to know.
We chose not to use the brokerage owned title company much to the dismay of the brokerage...which they could not legally require us to do. We learned what numbers went on what lines...why ...how those numbers were determined...and we knew how to spot errors in other title company's paperwork.
Knowing how to read a title policy...a CD (Closing Document) and statement are part of what every agent should know...it's a part of being a knowledgeable professional.
If you or anyone you know is looking for Realtors who know how to find the t's crossed and i's dotted...Call the Hansons...we are honored to be of service for all things real estate in southeastern Wisconsin.
Comments(6)