A Quick Start Guide to a Real Estate Commission Advance
The real estate business is a money-intensive business. There is a lot of upfront money needed to keep things going. There are so many real estate agents out there that you can’t afford to hold out on advertising and other ways of getting new business. Commissions may be tied up with some sales taking months to close. This is where commission advances are of help as they ensure you have the cash to operate your business instead of waiting on a commission payout later on.
- Workings of a commission advance
To receive an advance, the agent will fill out an application and send it to us along with documents that offer proof over the transaction. At CommissionAlly, in a matter of hours, your application will be processed. Once you sign the contract, the advance is wired to you by the end of the following business day. When the transaction closes, the real estate agent pays back the advance.
- Cost of a commission advance
Real estate commission advances usually cost a small percentage of the sum being requested. At CommissionAlly, our rates start at 5%. The good thing is that there are no hidden charges and its a simple flat fee.
- Perks over other funding sources
Another alternative to seeking funding during downtimes is taking out a conventional loan. There is less paperwork in real estate commission advance and no credit checks. You might be unable to get a bank loan if you have bad credit history. Commission advances use your sales history to qualify you for an advance, so your credit is not taken into consideration.
As a real estate agent, don’t have your business grind to a halt due to lack of funds. We will ensure that you are able to continue doing business by giving you a commission advance.