If you are a real estate agent or a broker and are in need of an advance on a pending commission you will earn from a house closing, you are in luck. California commission advances are available to qualifying agents and brokers. Why wait for escrow closing day to get your commission when you need the money now?
What Is a Commission Advance?
A commission advance is a financial service provided where you sell a portion of an upcoming commission and in exchange, the funds are advanced to you immediately. It is not a loan. It is simply access to the commission you’ve earned without having to wait for closing. It is simply getting money you will earn a little bit early. When you need money now, why wait?
How Does One Qualify for a Commission Advance?
In order to get an advance on your commission, you will need to apply. The whole process takes about one business day. You will need to fill out a request and upload the Purchase Agreement. Your request and transaction will be reviewed, and if approved, you will have to sign a couple of things and then you will have your money. Your credit won't be checked, so as long as you meet the other requirements, you should be able to get an advance easily.
What if the Sale Falls Through?
Not every sale will go as planned. If the current home sale falls through, you can transfer your advance to a different property commission.
Is It Worth It?
Yes! It is much more sensible to get a commission advance than to put your own home on the line, lose out on investment opportunities, or to not be able to grow your business because you are waiting for funding.
California commission advances are available today for real estate agents and brokers, so there’s no reason to wait.
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