“I’ve never done a commission advance. How does this work?”

We hear this from time to time from real estate agents as we work with local, regional and national brokerages across the country.   We understand that some agents may never need to utilize our service during their careers as real estate agents.  However, when we discuss with agents that a commission advance is a short-term solution for a short-term need they start to understand that there could be a need for it in the future.

We explain to agents that they should look at a commission advance as an insurance policy.  They may never need to use the policy, but it’s good to know it’s there if and when they should need it.   Also, we always make sure that the agent has enough volume to be able to support a commission advance, so the whole process will go smoothly.  For instance, we take a quick look at past transactions, current pending deals and active listings.

The most common question is “What happens if the sale falls through?” to which the answer is simple:  we just roll to the next closing.  This is why we ask how many pending deals an agent currently has and when are they scheduled to close.  We also have a complimentary 15-day grace period with every advance to cover any unexpected delays.

Ideally, an agent would have at least two pending deals.  We would provide a commission advance on the one that is set to close soonest. The second pending contract is considered a backup deal.  If the first deal is delayed or cancels, it can be replaced by switching to the backup contract if needed.

The ultimate goal is to bridge the gap between closings and to reduce stress for the agent.  And based on our 5-star Google Reviews and numerous testimonials, we have been able to provide quality customer service at affordable rates for our clients.

Of course, if you ever have any questions about our commission advance service for real estate agents, please call us at 888-610-0003 or quote@realcommissions.com.

Leave a comment