Real Estate Advance Pay Day

Real estate agents can get their commissions in advance by using payday loans that have been designed expressly for them. In other industries, workers receive payments on a regular basis. Individuals who are self-employed or work in service industries, on the other hand, often do not receive income at regular intervals. Though commissions are large, as they are based on the value of the property, REALTORS® may go several weeks or months between real estate closings. Due to the scarcity of paydays during the course of the year, they may consider taking out loans to cover their living expenses.

Real Estate Professionals Can Get an Advance on Their Paydays

An alternative to completing the paperwork at a local bank for a short-term loan is to apply for an advance on a commission that has already been earned. Once the Agreement of Purchase and Sale has been completed, an agent can apply for one of these advances. The interest depends on the length of time before the scheduled payday (which will be at the time of closing) and the amount of the loan. Applying for these advances can be much easier than the process of applying for loans such as home equity lines of credit. The total amount of interest paid can also be lower than it would be with a bank loan, if the term of the loan is particularly short.

At Access Easy Funds, the company offers REALTORS® in Canada advances on real estate commissions for less than a dollar a day for every $1,000 dollars they want to borrow. Groups of REALTORS® can secure even lower rates through the company. To get started, or for more information, call 1-888-FUNDS10 (1-888-386-3710).