Eligibility for a Commission Advance
As a Real Estate professional, what is required to become eligible for a commission advance? Here are our requirements at CommissionAlly:
- Work history
Your work history will contribute to your eligibility in getting a commission advance. As a real estate agent, you must be in the real estate business full-time, averaging 12 or more closings in the past year.
- Driver’s license
We want to prove that you reside in the state and that is why we ask for a valid driver’s license that was issued to you by your state of residence.
- No active commission advances
To qualify for a commission advance at CommissionAlly, you should not have an active commission advance with another commission advance company.
- Active or pending transaction
In order to qualify for a commission advance, the transaction should be scheduled to close within 60 days from the day you seek an advance. It should also be in escrow with the title company.
At CommissionAlly when you qualify for a commission advance, you will receive the commission advance in your bank account. In most cases, you will receive the commission advance in 1 business day. Additionally, if the sale’s closing is delayed, you’ll get a 20 day grace period where you won’t be charged any penalties.