The Most Reliable Commission Advance Company…Period
When a real estate agent or broker is seeking a real estate commission advance, there are a few aspects of the company and the terms that are very important to obtain the commission advance. These items can differ for different agents but usually are related to the cost of the advance, the timing and the flexibility of the terms. Here we will break down each of these items and explain how Silver Advance compares to the other commission advance companies and how to read through the fine print and choose the company that best suits your needs.
1. The agent is usually in need of the funds within a fairly quick amount of time. Now this is relative and for some agents they need the cash the same day and others would request the funds within a few days. Silver Advance is exponentially better than other advance companies to expedite an agent’s transaction suited to their needs. Some applicants want their funds within hours and others want it by the end of the week. Whatever the need is, we strive to meet each applicant’s request for a speedy and successful real estate commission advance.
2. The cost of the advance for a commission advance is a very important factor when choosing a commission advance company. The issue with many companies is knowing what those costs will be in every possible situation. Many companies are not fair but Silver Advance is honest, fair and extremely transparent. You will have one upfront cost which will cover a flexible grace period if the commission advance doesn’t pay out as originally planned. Check out our rates to get an idea of what an advance will cost you. Of course, each transaction is different, and pricing is based on a multitude of factors.
3. The flexibility of each commission advance company is incredibly crucial when choosing a company for an advance on commission. As many real estate transactions are delayed for whatever reason, if you choose a company which has unfavorable late or extension fees, then you will receive bills that can quickly exceed the value of the advance itself. Silver Advance is extremely flexible! When we offer a commission advance, it means we believe in the transaction and we have trust in the applicant. Since we are real estate professionals ourselves, we understand how deals may delay and we consider that in our pricing. If a deal delays, don’t worry, we will work with you to make a win-win situation so that you see Silver Advance as an asset in helping to grow your business.
Whether the real estate agent needs the cash immediately or not it is crucial that they understand how each company works and set their expectations accordingly. Some companies advertise that they offer funds within 1 hour of applying. This has proven to be false time and time again. Even if there is a company that would offer a commission advance within one hour, there is a serious trade-off…THE COST. There are many aspects of a real estate transaction to understand before a commission advance company can grant an advance. For instance, they should be able to verify that the property is actually for sale, that all of the provided information is correct and that the terms of the deal are strong.
If a commission advance company struggles to verify these features, then the transaction may fail, and they may experience a default on the advance. If you are a mortgage officer, then you know that defaults are more expensive for everyone. So, if a company offers an advance within one hour, then you can be sure that their costs are exorbitantly higher than the other commission advance companies. Silver Advance prides itself on being extremely efficient and thorough when reviewing different applications. This proves to be a formula that pays out to our clients over and over again. The reason for this is that we keep our failed transactions to a very low level and then we are able to offer extremely attractive and better rates for all of our applicants.
A major component of the cost is based on the flexibility of the commission advance. This is a feature that other companies play on in order to raise the cost of the advance. They may offer a two-week or even a 20+ day grace period. Beware! The day that you exceed this grace period, you will be hit with extremely high fees. These companies will not take a holistic approach and they will not be flexible with you. When you are growing your real estate business, the cash flow fluctuates, and you cannot afford to let an advance company have its fees rack up. Silver Advance works transparently and fairly to ensure that you can afford the advance and that you will not regret that you chose to take out a commission advance in the first place. We accomplish this by taking a more personal understanding in our clients’ workflow and what becomes a realistic payback scenario if the agent finds themselves in a bit of a temporary rut.
Silver Advance is certainly the most reliable commission advance company to help you grow your business. We are fast, honest and offer low rates for commission advances. We have flexible terms and we are able to approve the majority of applicants in a timely manner and send them the funds in less than 24 hours. Don’t hesitate to apply now! It’s a click away and you won’t regret choosing the best commission advance company on the market.