What is a sale of my future commission receivable?
A sale of your commission receivable is when you decide to sell your future real estate commission to Silver Advance in exchange for cash today. When working with Silver Advance, you will sell your future commission at a discount so you can have access to funds today.
Why should I choose Silver Advance?
Silver Advance offers a personalized and boutique service in which you will be treated with the highest level of customer service and where Silver Advance will work with you with flexibility to meet your goals. Silver Advance views itself as your strategic partner to help you meet specific cash flow goals.
Is a sale of my future commission right for me?
Silver Advance recommends using our service when you are looking for a short-term solution to manage your cash flow from month to month. Selling your commission for cash now can allow you to manage the unexpected cash flows involved with being a real estate agent or for any other personal matter that requires you to need cash now.
How long before closing do you recommend to sell my commission?
Typically, Silver Advance recommends terms of 30-45 days in order for you to properly manage your cash flow and get your funds in your account today.
What is the maximum amount of my commission that I can get today?
Silver Advance typically offers to purchase your commission anywhere from $1,000.00 up to $10,000.00. If you have a commission which exceeds this amount, then please reach out to us and we can work to meet your needs.
What is a SOFT credit check?
A soft credit check is a credit check on you which has ZERO cost to you and has ABSOLUTELY NO IMPACT to your credit. This helps us to give you an instant decision about your approval and speed up the process so you can get your funds faster.
Why does Silver Advance use an identity check?
Silver Advance verifies every client's identity to protect both parties against fraud. Additionally, an identity check ensures anoter layer of security and frequently can expedite the application process. Silver Advance will also confirm that you have not filed for bankruptcy recently.
What is the maximum amount of my commission I can sell?
You can sell up to a total amount of $10,000.00 dollars of your commissions to Silver Advance at any given time. For amounts higher than this, please contact us.
How long does it take to get approved?
Typically, you can be approved within one hour from applying. We can do this by using our proprietary technology which at times can approve you instantly.
What happens if the closing date of the rental or sale of the property delays?
Silver Advance is flexible and work with you to find terms that will continue to help you. There is an automatic 15-Day grace period built into your agreement. Additionaly, you may choose to extend terms of the agreement for a fee into a new property or you may buy back your receivable.
How will Silver Advance protect my information?
All of your sensitive information is collected and stored in encrypted files and databases with a high level of internet security. Your privacy is of our utmost concern and we do everything in our power to treat your information with respect. We do not give out or sell your information to any third party.
What do I need to apply to sell my commission?
You must be a licensed realtor.
How much will it cost to sell my commission to Silver Advance?
Typically, for 30 days, one can expect to pay anywehre from 5% - 7%. However, this depends on your professional history. Additionally, our SOFT credit check, with ZERO impact to your credit score, may qualify you for improved pricing.
What is my broker's involvement in this process?
Your broker has minimal involvement in securing you your funds. Your broker must agree to sign a commission reassignment agreement and they must have their license up to date. Beyond that, they do not have any liability, and you are solely responsible for the repayment of the commission.
Do you offer commission advances for active listings?
Silver Advance approves active listings on a very strict basis. You must meet the highest of standards as a client and have the ability to prove a long-term real estate track record.
Do you offer commission advances to brokers?
Yes, Silver Advance does offer commission advances to brokers. However, as a broker you will be held to higher standards and you must have a proven record as a broker.