Memo : Updated Transaction-File Submission and Review Process

May 30, 2025

We’re updating how transaction files are processed as part of our ongoing efforts to improve response time and ensure efficient, compliant file reviews. Register here for more information and discussion on the Broker Insights Zoom Tuesday, June 10th at 10 am.

Please review the changes below and implement them immediately:

1. “Supplemental Docs” Flag for Non-Required Documentation

• What’s Changing:
  Any document not mandated by the Real Estate Commission or by Platinum Realty (to reduce liability) will no longer be reviewed as part of the core compliance package.
• How It Works:
  • Non-required documents will receive a “Supplemental Docs” flag in the file.
  • Flagged items will be stored but not included in your primary compliance review.
  • If supplemental documents impact compliance, they will be reviewed. We may also require you to provide additional documentation to ensure you are compliant.

2. Accurate Commission-Collection Fields under “Edit”

• New Requirement:
  Under the “Commission” section in Paperless Pipeline → Edit → Other Information, you must now specify the exact dollar amount you intend to collect from the Seller and/or Buyer. PLEASE do not list what is agreed to in the Buyer/Seller agreement, as we need to know the exact amount you want us to ask for from the Buyer and Seller at Closing.
• Review Process:
  • Our team will cross-check these entries against your Buyer/Seller Agreements and Purchase Agreements.
  • This ensures you have contractual authorization to collect exactly what you report.
• Why:
  • Agreements don’t always match actual payments.
  • Example: A Buyer’s Agreement might state a percentage, but the Seller may agree to cover half. You need to indicate the net you intend to collect from the Buyer.
  • Similarly, you may collect less than the Listing Agreement amount from a Seller—you will report the actual amount the Seller is paying you or the Buyer’s Brokerage on behalf of the Buyer.
• Critical Rule to Remember:

You MAY accept less than your Buyer/Seller Agreement specifies, but you MAY NEVER collect more than agreed.

Thank you for your attention to these updates. Adhering to these procedures will help us streamline reviews, reduce liability, and maintain the highest standards of compliance. If you have any questions, please contact the Transaction Review Team at transactions@movewithplatinum.com.

Regards,

Michelle “Shelby” Briggs Austin
Director of Broker Services |Platinum Realty
p: (888) 220-0988