As an agent, you may have access to linking to listings based on a few sources: RETS MLS feeds, dotloop active listings, and more, which you can find more detail on HERE. This however can cause some confusion with all the available sources. Which one do I choose? How do I avoid having duplicate loops? Well rest assured that we are here to help with some tips and best practices for these scenarios!
note: at the bottom of this article is a handy PDF download with all this information labelled Co-op Best Practices.pdf
- If you are a Listing Agent you will want to only be linking to listings that are Source: MLS.
- If you are a Buying Agent you will want to usually only be linking to listings that are Source: dotloop.
- If you already have duplicate loops, communicate with the other agent, and agree on a loop to work out of moving forward, copying any documents needed from the unwanted loop, and archiving that loop.
Table of Contents
- Linking to a listing as a Listing Agent
- Linking to a listing as a Buying Agent
- Combining duplicate loops
As a Listing Agent, your goal is to fill out your loop as quickly, and efficiently, as possible. You also will want to make your listing available to be actively linked to within dotloop, allowing prospective Buying Agents to submit offers to you. There are a few steps you want to take to ensure that this is done as efficiently as possible.
- When creating your loop, we will want to see if an MLS RETS feed is available for your listing. This will be the case if your MLS has an agreement with dotloop, and the listing is set as active in the MLS. To search if your listing is available in dotloop, simply create a loop, and begin by typing the MLS number or address of the property in the loop name field. If available, you will see a listing appear below the text field, and it will show the source as MLS: (your MLS name). However, if the source is dotloop, as a Listing Agent, you most likely will not want to choose this option. Why you ask? Well, a dotloop listing is simply a loop that a listing agent has set as active, and thus, you will be telling the system that you are wanting to link to another agent's loop to make an offer. Chances are, this is an old loop that the last agent who listed this property forgot to make inactive. It is also possible that you have already made this listing an active listing. In this regard, you especially do not want to link to your own dotloop listing, as this will result in some most likely undesired results.
- Now that we have our loop created, let's navigate to the loop details section. Here, we will want to make sure that our role is set to Listing Agent, that the loop's transaction type is set to Listing for Sale, and the loop status set to Active Listing. Navigate down to the property address section, and simply make sure that the address and MLS number are there. These steps ensure that your loop will be able to be searched by a prospective Buying Agent to make an offer right into your loop!
note: although your listing is active, we promise total security and privacy for you and your client. By making this listing active, we are simply providing a quick way for another agent to make an offer to you. The only things the Buying Agent will receive on their end are: The property address, any Easy Offer documents you have set up, and you as the Listing Agent will be added to their loop so that they can submit an offer to you when ready.
- At this time you can leave the loop as-is, or go a step further and provide the Buying Agent with some offer documents via Easy Offer. By setting up and Easy Offer folder, these documents in the folder will be added to the Buying Agent's loop, pre-filled out, for them to make an offer directly to you, with documents of your choice! More on Easy Offer HERE.
As a Buying Agent, your main goal is to make an offer on a prospective property. To do this, we do suggest that you create a loop for each property you are making offers on, as this will keep your loops organized, and ensure your clients, and the agent's you are making offers to, only see the things you need them to see. Let's walk through some steps to make this process as smooth and efficient as possible!
- Before even creating a loop, let's navigate to the People section of your dotloop account, You can find this icon at the top right of the screen. Once here, add your clients, making sure to fill out their NAME, EMAIL ADDRESS, ROLE, and any other additional information. Why do we do this? Well, this ensures that every time you add your client to a new loop, you are adding them in quickly, and will all their information pre-filled for the loops!
- Now, let's create our first offer. So we have found a home for our new buyer(s) and want to get started. Let's create a new loop first. On the loop creation screen, let's start by searching to see if this listing is available in dotloop. We can search by MLS number, or property address. If we see the property in question, we want to look for an option that says Source: dotloop. We always want to select the dotloop source as opposed to the MLS source because this will ensure that you are linking directly to the Listing Agent's loop, and this will result in no duplicate loops, as well as if that agent has any listing documents prepared for you, they will automatically be added to your loop! However, if there is no dotloop source listing, it is still okay to link to the MLS source.
- Now that we've linked to our dotloop source listing, we will have the Listing Agent added to our loop, the property information already filled out for us, and any listing documents the agent has included! As an additional step for loop organization, you can go to the loop details, and add your client's name to the loop name. For example: Betty Buyer - 123 Main Street. This way, when you are on your main loops page, you can quickly search for all loops with your buyer's name!
Sometimes we end up with duplicate loops, and that's okay, accidents happen, but worry not! We will go over the most efficient way to remedy this situation.
- The first step to combining these duplicate loops is to start with communication to the other agent. You can always message the agent in the undesired loop via the Notes section of a loop (the message bubble to the top right of your documents in the loop). Here, we can speak with the agent and agree to work out of the main loop moving forward, this way you will not wind up with things being shared to the wrong loop.
- Next step, we will want to rename the loop so there is no confusion. This step is suggested for both agents. Go to the loop's details section, and rename the loop to add something like DO NOT USE to the name of the loop (still leaving the original loop name as well, in case you need to search for it in the future).
- Now, we will want to determine if we have any documents in the loop that we want in our main loop. If so, simply check the box to the left of each document, and choose the COPY option that has appeared above all the documents. Now just search for the correct loop, select the folder we wish to place the documents in, and choose to copy. Easy enough!
- Lastly, let's change the loop status to ARCHIVED so that the loop is effectively removed from our workspaces.