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Steven, a compliance broker, discusses a lesser-known function in Dotloop that allows users to split a single file into separate documents. In this case, a 33-page sales file called sample contract is used as an example. By going to the "More" section at the top of the screen and selecting "Split Document," users can divide the file into as many separate documents as needed. This feature is useful for organizing counter offers, purchase and sale agreements, and buyer representations within the file.