Real estate advances are quickly becoming the go-to source for realtors who want to improve their cash flow and avoid the struggle that many realtors face due to the staggered nature of commission income. Unlike payday loans and other traditional loans, commission advances have relatively low fees and can be transferred almost instantly; they are a perfect option for realtors, whether they want an advance on one commission or multiple commissions.
How to Get Real Estate Commission Advance Loans, USA?
In order to get an advance on your real estate commissions, you will need to first qualify for one. In order to apply for a real estate commission advance loan, you’ll need to follow a few simple steps which can be completed in a few minutes over the internet.
Step 1: Gather the necessary documents
Most lenders will require a copy of your driver’s license, a voided check from your bank account, the contract of sale, commission report or 1099s for the previous year, MLS listing printout, and a proof of your deposit.
Step 2: Send the documents to the advance lender
The easiest way to send your documents to the lender is by scanning them and sending them to the appropriate email; some lenders may allow you to also fax them the documents, text images of these documents, or upload them to their website.
Step 3: Wait for approval
The final step is the easiest! Way to see if you’re approved and, if you are, provide instructions on how you want your advance sent.