When you work as a real estate agent, it can get pretty exciting as you hunt and finally get that sale. You make a nice commission. However, sometimes the commission does not come as quickly as you would like it. This can put you in a difficult position.
After all, you need to survive. You have bills to pay as well. If you go short, then it can be a struggle to pay bills. Nobody wants to dig into their reserves. That is for a rainy day. Well, there is a way you can get an advance in your commission, so let’s take a look at a few things you need to know.
1. Finding The Right Company
There are many of these commission advance companies around. However, it is no surprise that they are all not built equally. That’s why it is important to look for one that has gained a solid reputation built on trust and experience. Some of these companies will add hidden fees that will gnaw away at your commission. One commission may not cause you to lose sleep but if it is one after the other, you will lose a lot of money. The company you deal with should be transparent. It is important to ask them about all the fees involved so that no nasty surprises await you.
You can find out a lot about a commission advance company if you make the effort to research them through the right channels. If they have a good reputation and if testimonials speak highly of them, won’t you feel a lot more confident in dealing with them?
2. No Credit Checks
There really should not be a credit check on you. If they want to do a credit check, you should ask them why. In fact, if they request a credit check, perhaps you should just find a different company to work with. There is no reason for a credit check. You are not asking them for a loan. In essence, you are selling them the contract of the sale of a house. They will get their money and you will get yours. A credit check is an irrelevant request.
3. Processing Several Deals
You want to have dealings with a company that can handle many deals at the same time. They should not place a limit on how many you are allowed per month or whatever the case may be. This does not help you at all. If they tell you that each client is allowed only 3 commissions a month, it is time to jog on. Do not waste your time using them.
At the same time, they should not tell you that each client is only allowed to receive a maximum of X amount of dollars per month. You should be able to receive the full amount with no restrictions placed.
4. Approvals
Being approved should not be a problem. In fact, since there is no risk to them, it should be quick. That means within a few hours or the next business day. There is no reason to wait longer, since it should be straightforward.
Keep these points in mind. If anything does not seem right, then use someone else.
