When a deal has gone firm and all of the conditions have been waived it can be very frustrating to have to wait for your commission to come through from the sale. If you are sick and tired of waiting for deals to close so that you have access to the money that you have worked so hard to earn then guess what? You don’t have to.
With a real estate commission advance, you will be able to unlock the money in your commission before the close of the sale. Having access to this money sooner rather than later can help to ensure that you are able to pay bills on time and not have to worry about any late fees. You can now relax, safe in the knowledge that you have taken control of your finances and are not left waiting months for your payday to arrive.
A word of warning though, when you are looking for a real estate commission advance company you need to do your due diligence. You need to be certain that you are dealing with a reputable company. Here are 6 tips to help you choose the best one for your needs:
1. Do they have a good reputation?
Google is your friend here, you can easily search online for reviews of the company that you are looking at working with. You will be able to read a number of reviews on the company to make sure that you are dealing with a company that can be trusted. You are trusting them with your income, so you’re going to have to make certain that they are the right company for you.
2. Are there any hidden fees?
There should be no other fees other than the discount fee. If there is even the hint of any additional fees then you should simply walk away. will not try to hide anything from you as you are discussing the terms of the arrangement that you are entering into.
3. No credit checks
There should be no need for a credit check as there is no real risk involved for the commission advance company. They are providing you with the funds based on a contract of sale that has a pending commission. To all intents and purposes, you are effectively selling this to them. If a commission advance company is asking to perform a credit check then you should feel free to ask why it is needed.
4. Do they have instant approval?
As mentioned above, there is little to no risk involved in the commission advance, so why should you wait any longer than you have to. With any commission advance company, the approval process should be quick and painless allowing you to get the money that you have earned as soon as possible.
5. There shouldn’t be a limit on the amount you can receive
It would be unusual for a commission advance company to put a limit on the amount that you can receive. It would simply be bad business for them to miss out on a potentially very large deal. If they are unable to provide the commission advance that you are owed, then simply look elsewhere for a commission advance company that is able to play with the big boys.
6. More pending sales, more money
There is no reason at all why a capable commission advance company would not be able to handle multiple deals at any given time. A commission advance company that is in good standing financially will be able to provide you with all of your outstanding commission amounts in one fell swoop. It is worth noting that each deal will be dealt with independently as they are in effect completely different contracts.
