3.1: Transaction Type and Status

Each loop has a Transaction Type, followed by a Loop Status. It is recommended to set these during the first steps of any loop you create. 

The transaction type tells the loop how to react and will set the loop to function by providing the proper roles and loop details for people in the loop. Loop statuses display which stage of the transaction you are currently on and how your filters decide which loops to display.

Transaction type

There are a few options to choose from for each loop. Knowing which one to choose before making a selection is extremely important, as this selection will tell the loop how to autofill documents, what roles will be available for people, as well as what additional fields will be available to fill out in Loop Details (link to View Details Page article). 

• Purchase: use this option if you are a buying agent who is making an offer to purchase a listing.

• Listing for sale: use this option if you are a listing agent who is creating a listing for sale.

• Listing for lease: use this option if you are a listing agent or landlord creating a listing to lease.

• Lease: use this option if you are a buying agent who is making an offer to lease or rent a property.

• Real estate other: use this option if your transaction does not fit the standard listing, leasing, or renting types.

• Other: use this option for non-real estate loops. This selection, however, will have very limited role choices and loop details fields.

Where to choose your Transaction type

You can choose your Transaction type in a few places, however, any of these places will result in the same outcome.

Option 1: While creating a loop

At the last step of the Loop Creation, you can choose this by selecting the loop Type.

Option 2: Choose while on the My Loops page

Depending on which View you have chosen to display your loops, each will have a different method of selecting this option. The Grid View will allow you to make your selection next to the Type heading.

The List View will allow you to make a selection under the Transaction Type heading. The Compact View will require you to go into your loop to make the selection (See option 3).

Option 3: Choose within the loop

If you are currently in your loop, you can click the Select transaction type option to open a dropdown menu.

Note: if you already have a transaction type selected, you can click on its name and choose a new selection.

Option 4: Choose within the loop details

If you navigate to the loop details, via the View details link within the loop, you can select or change the transaction type in a few places. If you have never selected a transaction type, dotloop will present a quick bar asking “What type of transaction is this?” with every option available to click. You can also make this selection from the Select transaction type dropdown menu.

Note: be sure to click one of the Save buttons at the top or bottom of the loop details page to commit your changes.

Loop status

There are a few options to choose from, but depending on your choice of Transaction type, these options will change. Knowing which one to choose before making a selection is extremely important, as this selection can make some drastic changes to your loop. Below are the choices available for every transaction type. Under the proper loop setup, the status is actually used to make your loop searchable for other dotloop users to submit offers directly to your loop (link to Autofill - linking to a listing article).

Purchase

• Pre-offer

• Under contract

• Withdrawn

• Sold

• Terminated

• Archived(legacy)

Listing for sale

• Pre-listing

• Private listing

• Active listing

• Under contract

• Withdrawn

• Sold

• Terminated

• Archived(legacy)

Listing for lease

• Pre-listing

• Private listing

• Active listing

• Under contract

• Withdrawn

• Leased

• Terminated

• Archived(legacy)

Lease

• Pre-offer

• Under contract

• Withdrawn

• Leased

• Terminated

• Archived(legacy)

Real estate other

• New

• In-progress

• Withdrawn

• Done

• Terminated

• Archived(legacy)

Other

• New

• In-progress

• Withdrawn

• Done

• Terminated

• Archived(legacy)