What to Submit to the MCOM?

What to Submit to the MCOM...and when to submit it.

Follow these steps to ensure all necessary documents are turned in:

☑️ Escrow Deposit: Sumbit a cashier's check and a completed Escrow Deposit Form.  You can scan the QR code on the drop box to fill out online.  Submit as soon as you receive the check or the following business day, latest.

TIP:For faster service, be sure the property address is written on the memo line of the check and it is properly addressed and in the correct amount.

☑️ Escrow Withdrawal: Submit the completed Escrow Withdrawal Form at least 5 business days prior to the settlement date.  You may submit by scanning the QR code or by emailing the completed form to infosheet@kw.com.

TIP: For faster payment upon closing, be sure your opportunity is updated and submitted at this time with the CORRECT closing date.  

☑️ Termination/Release: Submit the completed Escrow Withdrawal (Termination) Form and the Termination and Release (TERAREL) or (TER and AREL).

TIP: Escrow cannot be released without the executed Termination and Release Agreement - that means signed by ALL parties. 

☑️ Lease/Rental Commission: Submit the commission check (cashier's check) and Page 1 of the executed lease. 

TIP: As with other checks, for faster service please be sure to add the property address to the memo line and make sure your opportunity in Command is updated.

☑️ Settlement: Submit the commission check and  the Settlement Statement (HUD, ALTA). 

TIP: You can't get paid until you submit this information and as always, be sure your opportunity is completed in Command.

Other items that go to the MCOM...

☑️ Referral Documentation: 

Referring Agent: If you are the referring agent, submit a copy of the completed PAR Referral Agreement.  The KWNC W-9 form goes to the brokerage who will be sending the commission check.

Referring Recipient: If you have received a referral, submit a copy of the completed PAR Referral Agreement along with a copy of the referring agency's W-9 (unless they are from KWNC) or are a referral partner in our system.

TIP: Referrals get lost more than any other type of commission.  Check with the agent sending the referral to determine the timeline and the method of the payment and be sure they reference the property address. 

☑️ Changes to Account: 

Direct Deposit Authorization Form : This form allows KWNC to deposit your commission checks directly into your authorized checking account.  If you need to make a change to your deposit account, fill out a new form.

Credit Card Update Form: The credit card on file can be used to pay your monthly technology fees or to pay for supplies purchased through the office.  Changes to the card on file can be accomplished by submitting this form.

TIP: If you form an LLC or S-Corp and wish to get paid via that entity, follow the directions on the LLC/S-Corp Checklist and then submit a new direct deposit authorization form with the LLC or S-Corp account information.  The same can be done for a corporate credit card.