The 'Payment Status' column of Payments Center is a useful way to see the current status of in-progress commission payments.
Transactions progress through the following payment statuses after the commission form is submitted:
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Awaiting Form: The close of escrow(COE) date is today or prior, but the commission form has not yet been submitted. These transactions will be flagged as ‘Needs Attention’.
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Closing Soon: The COE date is approaching, and the commission form has already been submitted successfully. Side will generally process commission payments within 1 business day of the COE date.
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Awaiting Payment: The COE date has past, but Side is awaiting commission funds from the settlement company.
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Awaiting Certification: For Instant Pay eligible transactions (only), the COE date is today or prior, but the transaction has not yet been ‘certified’.
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By certifying a transaction, you are confirming that the closing has completed and the commission statements are accurate - this allows commissions to be paid in advance of Side receiving funds from the settlement company. These transactions will be flagged as ‘Needs Attention’.
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By certifying a transaction, you are confirming that the closing has completed and the commission statements are accurate - this allows commissions to be paid in advance of Side receiving funds from the settlement company. These transactions will be flagged as ‘Needs Attention’.
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Payment Initiated: The COE date is today or prior, and Side has already received funds from the settlement company. Commissions are usually paid within 1 business day of funds being received.
- Paid: The COE date has past and all commission payments have been distributed.