Like most people, real estate agents and brokers are often in a position where they need money quickly, despite having a big sale with a large commission waiting to be paid out. In such instances, it is possible to turn to an advance company in California to get the money quicker. Essentially, the advance company pays the money immediately in exchange for a small percentage of that commission and a small fee being paid to them. It is not a loan, so the agent will not have to pay the advance company later. He’s just getting the money that he earned for his commission a little bit early. The hard part often is finding the right company with which to do business. Choosing the Best Advance Company The best-case scenario is that the agent knows others in his field who have done business with advance companies and can vouch for the reliability of one or more in the area. Word of mouth is the most helpful form of reference, because it enables the agent to ask follow-up questions about the experience of dealing with the company. Whether or not these kinds of reviews are available, the agent should also research the company online to check on the legitimacy of the company and hear about them from a variety of sources. When the agent has narrowed down the list to a few candidates for an advance company in California he can use, he can then start contacting them to find out specifics of the company to see where he would get the best deal for what he needs. Fees are the biggest part for most people, of course, and they often take some calculation. While some advance companies do give a flat fee, it’s usually better to look for one that calculates percentages on a case-by-case basis. These companies will often charge lower rates for agents with a solid history and for sales that seem fairly definitive. Other matters to discuss are transaction limits that the company may have and what sort of agreements they have the agent sign. These agreements, which the agent would sign after deciding on a company and settling all the details, typically state that the agent is selling part of his commission and allow those funds to go to the company, along with any additional fee. It can take as little as one or two business days to get the requested money, or sometimes a few days longer, depending on the company.
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