Commission advances are a service that is available to Canadian real estate agents. The service is meant to help cash strapped agents balance their cash flow and meet their financial obligations when sales are down and commissions are yet to arrive. Since you can receive the advance immediately after the Agreement of Sale and Purchase has been signed and conditions have been waived, you don’t need to wait until the deal is closed.
This type of service is very popular with real estate agents because it is easy to obtain, involves a larger amount of money than other short term loan offerings, doesn’t require a good credit score and has a very fees. You can receive the money within 24hrs of you applying, either by cheque or by bank transfer to your bank account.
So, how do you pay back your commission advance once you’ve received the commissions you’re owed? We make it easy. When you receive your commission, and your deal closes, the money you have borrowed along with the fees incurred over your advance period will be due.
If you want to repay your advance early, no problem! All of our advances can be paid back early with no penalties.
If your deal doesn’t end up closing, don’t worry. AccessEasyFunds will work with you to create an amicable solution and suitable repayment period to pay back your advance so your business is not disrupted and you can manage your finances confidently.
Here are the reasons that make commission advance the best option for real estate agents:
- Larger amount of money: Depending on the size of your sale, you can receive a much larger amount of money than from any other type of short term loan. AccessEasyFunds, the largest commission advance company in Canada, offers up to 95% of the commission on residential deals and up to 80% on other deals.
- Low rates: the fees are often the lowest among short term loans, which makes it highly attractive to real estate agents. For example, AccessEasyFunds charges only $22.50 on an advance of $1,000 for 30 days.
- Fast and easy application process: The application process is simple and doesn’t take more than 10 minutes. You need to fill out an online form or download a PDF form and send it back by fax. You are required to provide your personal details, business details and bank account details and earnings. A copy of your driver’s license and Agreement of Sale and Purchase is also required.
- Approval and payment on the same day: Approval takes place within an hour if the information you provided is correct. The money will be deposited in your back account or sent to you by check within 24 hours.
- No other costs: Some commission advance companies may charge you extra for other services, but some, including AccessEasyFunds, charge you nothing except the discount fee. You won’t have to pay any application fees, exit fees, minimum fees and administrative fees.
Contact AccessEasyFunds today to apply for a commission advance and get your commission today!