A commission advance is a monetary transaction where realtors sell a portion of their pending commission at a discount in exchange for immediate cash. As we all know, real estate agents can wait for weeks or even months before closing. And because the real estate agents are only able to collect their commission at closing, there are bound to be some financial hiccups along the way. Fortunately, commission advance for realtors was created to allow the agents to have access to real cash without having to wait until closing.
If you are a real estate agent and you have been struggling financially, here are some advantages of real estate commission advance that you can look forward to. Mind you though, this is not a loan but just a financial service that allows you to monetize until closing. The advantages include:
Working as a real estate agent has its ups and downs, but one of the biggest challenges that you will ever have as a realtor is having to wait for weeks or months before receiving your commission. This can be really frustrating, especially these days when each transaction ends up costing you time and money.
And although you will have pending commission, you can only receive the commission at closing. Well, if truth be told, without the commission advance, real estate agents would experience downtime that could end up costing them a lot of money and huge opportunities.
2. Quick approvals:
With advance commission for realtors, there is no paperwork to deal with or meetings with the financial managers before you can be approved to sell. As a matter of fact, commission advance involves the simplest application and approval process and for that reason, you will have your money in the shortest time possible.
Most commission advance applicants get approved the very same day they submit their application and get paid right away. And the juiciest part in all this is that there is no credit check performed, so your credit ratings should be the least of your concerns when applying for a commission advance.
3. Reduced to no business debts:
When you have to wait that long before getting your commission, you may end up accumulating more and more debts, all because you are trying to keep the business going. This is not a good situation for you to be in, so why not find reasonable rates by applying a for a commission advance rather than getting into debts?
Truth is, accumulating debts will cost you more at the end of the day than the fee that you would have been charged if you opted for a commission advance. That said, choose wisely!
4. Improved cash flow:
Let’s face it; expenses are part of running any business. Like they say, you must spend money to get money. However, because of the money delays that you face every day, you can still keep your business afloat with a commission advance. The service will ensure that you have money when you need it and you don’t have to wait until closing.
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