How To Find The Best Commission Advance Company
Updated: Dec 6, 2020
Stuck in a financial pickle? It happens to the best of us. But what are you to do if you’re a real estate agent who needs liquid cash on an urgent basis? In such situations, a commission advance can be a godsend.
A commission advance allows real estate agents to obtain their cut of a sale on an expedited timeline, so they don’t have to wait for weeks or months for the payout. This enables them to control their cash flows, become more cost-effective, and invest in other businesses.
But getting a commission advance can be a complicated process, and most real estate agents go about it by hiring a specialized commission advance company. There are several factors to consider when making the decision to hire a company, so take a look at this list of questions that you need to ask.
Do they require a credit check?
Some advance commission companies ask for a personal credit and financial history for the purpose of approving you for the commission advance.
Look for a commission advance company which makes their decision based on the success and quality of your real estate deals and your contracts, as opposed to your finances.
Do they have limits on the commission advance amount?
Leading contenders in the real estate commission advance community don’t impose a maximum limit on a commission advance.
The company should be able to match your demands depending on your contract and the size of your business, whether you prefer to receive a portion of your commission or the full amount.
Are they transparent with their fee charges?
Before you decide on a company, make sure you’re aware of every fee they charge. Not only will this give you more confidence in the deal, but also save you money in the long run.
If the company’s sliding fee charts don’t clarify the rates, always inquire about them from their representative. Keep in mind that the charges should reflect the size of the commission.
Do they have good customer service?
Since a real estate commission advance is a financial transaction, it’s likely that you will have some questions about the process. Opting for a company with good customer service will come in handy if you find yourself struggling to understand something in your contract.
Do they have experience and references?
When it comes to financial transactions, experience makes a massive difference. If the company you’re considering has several years in the business, it means that they offer top of the line services.
You can also ask the company to provide you with some references and testimonials so you can inquire about the quality of their services from third party individuals.
If you’re looking for a company which checks all these boxes, visit Silver Advance in New York and make them your strategic partner. Their smooth application process is free of any hidden costs. They process your real estate commissions at a quick pace too, so contact them today!