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Published On: Thu, Jan 18th, 2018

Commission advances: The only help a real estate professional needs to grow and succeed

When you want to get your hands on your commission sooner than later, you need the magic of advance commission in your life. More numbers of people are opting for commission based jobs every day. This primarily includes real estate professions. Becoming a realtor takes quite a bit of studying, practical experience and communication skills. However, while preparing for this job, very few people understand that they might have to wait for months on end for their rightful commissions. This is usually very frustrating for the new realtors and even for the veterans at times.

photo 401K 2012/2013 via Flickr

How is commission factoring helping realtors around the world?

Real estate commission factoring can help you bridge the gap between listing the property or closure and payment of the commission. This process can help you access your cash instantly. The application process is fast, and you can even enjoy the perks of the advance commission factoring in less than 24 hours in case of online applications. This fund allows agents and brokers to continue with their marketing endeavors and promotions. Cracking the real estate market is not easy, and the lack of funds can make it extremely difficult for the professionals to approach new clientele.

What is the reality of commission factoring?

The term commission factoring makes it apparent that all advance commission companies catering to realtors and brokers use a kind of factoring. Let us simplify this with an example – Sam is a great real estate agent. She has closed a sale, but her commission won’t come in until the end of the next month. She can approach a commission advance company for buying her receivables. Once the contract comes into action, she gets 90% of the payment, and the company waits for the final payment. The rates are that simple. The 10% of the capital is the company’s fee for the advance.

What kind of fees can you expect?

The rate of the fee is usually variable. While it can depend on the amount of the commission, it also definitely depends upon the number of days till the contract closing date. The further away the date is, the higher the interest rate. This is quite standard for almost all realtor commission factoring agencies. They do not need to check your credit score or your history of loans. They just need to know that you are capable of closing the deals you are promising against the commission advance.

How will you receive the money?

These companies usually maintain a certain level of discretion. You can opt for receiving the money from the provider by check, or the provider can wire the money to the address you provide. What you use the money for is entirely your choice, and the provider will not take an interest in your expenses.

The idea is to choose a company that offers fair rates so that you can make most of the advance. You will have more capital left over, and you will receive the money just in time for essential expenses. Never miss out another opportunity for the dearth of money, as long as you have the option of taking a commission advance.

Author: Charlie Brown

About the Author

- Outside contributors to the Dispatch are always welcome to offer their unique voices, contradictory opinions or presentation of information not included on the site.

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