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When can I apply to receive an eCommission?
When you have an accepted purchase contract on a residential or commercial property. We also provide advances on residential and commercial leases.

Do I need an account to apply for an eCommission?
Yes, all agents applying for an eCommission must first set up an account. Click here to set up your eCommission Account.

Does my broker need to sign up with eCommission before I set-up an account?
No.

Does eCommission advance commissions to Brokers/Owners?
At present no, we are unable to advance commissions where the Broker or Owner of the company is also the agent requesting the advance. However, we have an affiliate service that does advance commissions to Brokers. Click here to apply with 3-Click Advance. the agent requesting the advance.

Does eCommission review my personal credit history?
Our policy is to review your consumer credit information when you open up your account, not with each advance request. Please note that eCommission understands fully the challenges of earning an income based on commission. We do not decline customers on the basis of credit score. Our program is faster, easier and much more accessible than traditional bank loans or credit cards.

How much of my commission can I receive from eCommission?
Up to 90% of your “net earned commission” is available to a maximum of $15,000 per transaction. The remaining 10% is not purchased by eCommission and is paid to you as usual, at closing. Please note that actual advance limits are subject to underwriting and credit requirements.

How many days before my closing date can I apply for an eCommission?
You can apply for an eCommission if the sale is closing within 120 days from the date of your application. If you sold new home construction, the closing must be within 120 days.

Do HUD sales qualify for eCommission?
Where the Government is the Seller under a HUD transaction, eCommission will decline the application. An "FHA" loan transaction is acceptable.

Will eCommission distribute or sell my personal information?
No, we respect your privacy and information received by eCommission will not be sold or distributed. Click here to review our Privacy Statement.

How is my eCommission delivered to me?
Delivery of funds can be made by check or deposited electronically into your bank account.

What are the Funding Cut-Off Times (Monday to Friday)?
  • 2:00 PM Central Time if requesting a same-day wire transfer
  • 5:00 PM Central Time if requesting an overnight bank transfer
  • 5:00 PM Central time if requesting a check sent by overnight courier

How much will my eCommission cost?
The cost varies depending on the amount of commission you would like to receive and your credit history. Unlike credit cards or lines of credit which are usually unsecured products, eCommission is much easier to obtain because your commission secures your advance. Whether your credit rating is excellent, in the rebuilding process or somewhere in between, our variable fee structure is tailored to meet your expectations. In a typical example, to receive $3,000 from one of your pending commissions on a sale closing in less than 40 days, the cost would be $286.00 plus a refundable reserve. Due to our expansive alliance network, eCommission offers the LOWEST PRICES AVAILABLE. For a free quotation on price, please call toll-free 1-877-882-4368.

What is the Reserve Fee?
When you receive an eCommission, the cost is calculated until the day of closing. The reserve fee covers the period after closing and is held back from the net advance that you receive. The reserve provides you with a total of 20 days after the closing date for your eCommission to be repaid by the title / escrow company, attorney or broker. Any unused balance is refunded to you.

It is important to understand that a portion of the reserve is refundable to you, depending on how quickly funds are re-paid after closing. The reserve protects you in case a sale's closing is delayed or amended.

Is eCommission tax deductible?
It can be! When you use the proceeds of your eCommission exclusively for your real estate business, the cost can be tax deductible. We will even send to you by fax, a free, personalized account summary at tax time.

What happens if my sale doesn't close?
If you advance a commission on a sale that unexpectedly fails to close, you should know that we have a few different options for you to consider:

  1. Repay the commission in full

  2. Replace the commission using a different pending sale or sales, or

  3. Repay part of the balance owed and replace the rest!

If you are unable to complete any of the above options before your 20-day reserve period expires, you can buy reserve extensions at 10-day intervals to keep your account current while you work towards repaying or replacing the cancelled sale.

How do I apply for an eCommission?
Your first step is to create an account online. Click here to create your eCommission Account. After your account has been set-up, you can login to the eCommission web site any time of day or night to enter the information for the sale on which you would like to receive an eCommission. Entering this information online is a straightforward process that takes less than five minutes!

Once completed, an eCommission Agreement is instantly faxed or emailed to you. The eCommission Agreement must be signed by you and your broker. Then simply return the signed agreement by fax along with your supporting sale information.

We'll review your paperwork and notify you if your eCommission is approved. If your request is declined, or if there is missing information, a customer service representative will call you directly.

What supporting sale information do I need to supply?
Along with the signed eCommission Agreement, you will need to include the following supporting sale information:

  • A fully executed and signed copy of the Real Estate Sales Contract
  • All fully executed and signed Counter Offers and supporting sale information
  • A signed Pre-Qualification or Pre-Approval letter from a lender (if applicable)
  • A copy of the deposit (earnest money) check or the Title/Escrow receipt


 
   
 

5914 West Courtyard Drive, Suite 320  •  Austin, Texas  •  78730
Tel: 877.882.4368  •  Fax: 877.882.6960

Hours of Operation: Monday-Friday 9:00am - 6:00pm CT

©2014 eCommission Financial Services, Inc.
™eCommission and eCommission Agreement are registered trade-marks of eCommission Financial Services, Inc.
©Better Homes & Gardens Real Estate, Century 21, Coldwell Banker, ERA, EXIT Realty, Keller Williams, Prudential, NRT,
RE/MAX International, Sotheby's International Realty logos used with permission.

 

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