Advanced commissions for realtors, USA are advances on pending commissions for real estate agents. An advance is similar to a loan, although an advance is meant to be paid back at closing once the commission comes through rather than over a period of months or years like a loan. Read More It is possible to get fast real estate commission advance in USA if you know how to apply and are ready to take the necessary steps for preparation to make things run more smoothly. Let’s take a closer look at how to apply for advanced commissions for realtors, USA.
Why get an advance on a commission?
Cash flow for realtors can fluctuate throughout the year, which makes it difficult when you have monthly reoccurring bills and other regular expenses. An advance on a commission will allow you get the money when you need it.
What you’ll need to apply?
Most companies require documentation which will include but is not limited to your:
- Driver’s license
- Contract of sale
- Commission report from previous year
- Voided check from current bank account
- Proof of deposit/escrow instructions
- MLS listing printout
You will also need to report information such as what company you work for, how many years of experience you have, and other relevant information that can help them determine your likelihood for approval.
How to apply?
Most real estate advance companies today offer online applications with pre-made forms that make it easier than ever to apply for a commission advance loan. You will need to answer the questions provided on the form and, if applicable, submit the required documentation electronically. Some companies may not require this documentation until they have approved your application past the first stage, while others may require it upfront to get a complete picture of your financials and the pending commission.