The Guide to Quick Commission for Real Estate Agents and Brokers

Posted by Premier Commission on May 18, 2014 in Real Estate

Real estate agents and brokers work many hours for their commissions. It is incredible how much work has to be put in to make just one property sale. Not only is the competition fierce, but the real estate market is continuously changing and the effects of the recession make the jobs of real estate agents and brokers even more difficult. The time between making a sale and when agents and brokers get paid their commission is a long-anticipated one.

How do real estate agents and brokers get paid their commission? The seller usually pays the commission that gets split between the agencies for which the seller and the buyer’s agents work. Sometimes, the two agents come from the same brokerage, which usually means that that broker will get paid the entire commission. Agents get paid by the broker after retaining a portion of the commission split, which can vary anywhere between 25% and 70%. Now both real estate agents and brokers must wait until closing to receive their commission. That again can vary between 30 and 120 days, sometimes even more depending on the conditions of the contract of sale.

Brokers and real estate agents have two options. One is to wait until closing day to collect their commission and the other is to get a commission advance for real estate agents. The commission advance entails a very simple application and approval process and can result in you receiving 80-90% of your commission in your account within 24 hours from the application time. In addition, a commission advance for real estate agents does not involve any credit checks as typical bank loans do. It is a simple process that involves a contract sale agreement and less paperwork than you would expect. Getting approved quickly is the greatest benefit along with our low rates and no hidden fees.

The real estate commission advance company charges what is called a discount fee. Basically, real estate agents and brokers sell their pending commission at a discounted fee, which is the only fee that they would have to pay at closing day. However, the fees usually depend on the company real estate agents and brokers choose to work with. Serious and well established commission advance companies charge nothing but the discount fees while others have other fees as well disguised as administration fees, exit fees, minimum fees, and much more.

Given the quick approval time and high rate of approvals, many real estate agents and brokers choose commission advances to fund their careers and businesses. The commission advance becomes a quick and viable alternative to the standard way real estate agents and brokers get paid their commission. It is not only a simple alternative, but it is also a more efficient and more cost-effective one.

Commission advance fees can be misleading. At Premier Commission, our low and transparent fee structure provides you with more cash up front, and gets you get your cash faster! Click here to start the application process today.

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