Compliance Playbook

Q: What is the role of the Compliance team at eHomes?

A: The Compliance team is responsible for ensuring that all transactions at eHomes are reviewed for completeness and accuracy. They make sure all files adhere to the Department of Real Estate's (DRE) rules and regulations, ensuring that compliance is the top priority. Tasks include managing virtual assistants, listing coordination, CDA preparation and clearance, file assignments, auditing files, and addressing agent questions and compliance issues.

Q: What systems and tools are used at eHomes for transaction management and compliance?

A: Several key systems are used at eHomes. SISU is the internal tracking system for agent, client, transaction, closing, and commission information. ZipForms is where contractual forms and templates are stored. G-Suite is used for email, Drive, Docs, and Sheets. Glide assists sellers with disclosures. Skyslope is the online transaction management program for submitting Broker Files for Compliance Review. Folio, Dotloop, and Slack are also utilized for various transaction-related tasks and communication.

Q: What is the TC Onboarding process like at eHomes?

A: New Transaction Coordinators (TCs) undergo a structured onboarding process, which includes creating accounts for various systems such as Skyslope, Folio, SISU, and Slack. They also gain access to shared drives and receive onboarding guides. The Chief Compliance Officer is responsible for tracking accounts and tasks in the TC Onboarding Spreadsheet. Training sessions cover TC SOPs, contracts, and disclosures to ensure TCs are equipped to manage files effectively.

Q: How are Transaction Coordinators (TCs) compensated and what are the bonus structures?

A: TCs are paid an hourly rate, and there is a bonus structure based on closed files. TCs currently receive $50 per closed file, paid monthly. Bonus payouts are contingent upon files being fully complete at the time of closing. There are different compensation tiers for Junior, Regular, and Senior TCs, based on experience and file capacity. Additionally, TCs may receive bonuses for training new TCs.

Q: What is the Commission Disbursement Authorization (CDA) process at eHomes?

A: CDAs are created before a file closes escrow to ensure accurate commission payouts. It's crucial that sales prices, referral fees, and credits are correctly noted in both Skyslope and SISU. The CDA process involves coordination between TCs, Compliance, and Finance to ensure all transactions are properly documented and payments are processed correctly.

Q: What are the key elements of eHomes file compliance?

A: File compliance involves ensuring all required documents are present and correctly filled out according to DRE regulations. Key documents include Agency Disclosures (AD), Seller's Affidavit (AS), Agent Visual Inspection Disclosure (AVID), Contingency Removals (CR), and Disclosure Information Advisory (DIA). Different checklists are used for various types of transactions, such as residential purchases, leases, commercial listings, and land listings, to ensure all specific requirements are met.