Who is eCommission?
eCommission is the most trusted provider of commission advance services to real estate professionals. Started in 1999, eCommission has advanced nearly a BILLION dollars to help real estate professionals grow their business. With eCommission, you can enjoy greater control, choice and flexibility over your finances through access to your pending commissions when you need them.
Is this a loan?
No. A commission advance is not a loan. We are simply buying your commission at the time you have a pending sale, and providing immediate access to the money youíve earned. A commission advance will never appear on your credit report.
Must I have my real estate license to apply?
Yes. Both you and your Broker must be licensed to receive a commission advance.
What kind of commissions does eCommission advance?
We will advance your commissions on virtually any type of sale you have. Pending residential sales, short sales, active listings, residential leases, commercial leases and commercial resale properties all qualify for our service.
Why does a commission advance make sense for me?
From top producers to agents just starting out, cash flow ups and downs are common to almost everyone selling real estate. Generally this involves the timing of your closings, not productivity. eCommission solves cash flow gaps by giving you access to your real estate commissions on your schedule.
Do I need to create an account with eCommission to apply for a commission advance?
Creating an account is the first step. We made the process easy and fast. Click here to begin.
How do I apply for a commission advance?
Once you have set up an account (click here to complete if you havenít done that), you will be able to login to the eCommission web site 24/7/365 to complete the commission advance request. Our on-line process is easy to use. Live chat is available should questions arise, as are our customer service representatives at 1-877-882-4368. You will need to know the sales details of the property you would like the commission advance on. Click here to begin.
Once completed, the eCommission agreement is instantly emailed to you. The agreement must be signed by you and your broker. We incorporate the use of DocuSign to make this step quick and easy.
When the signed documents and supporting sales information are sent back to eCommission we will review your paperwork and notify you if your advance is approved. If we cannot approve your request or, if there is missing information a customer service representative will personally contact you.
What supporting information do I need to supply to complete my advance request?
Along with the signed eCommission agreement by both, the agent and broker, new customers or customers without MLS access may be required to submit supporting sale documents, including:
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
When can I apply for an eCommission advance?
You can apply once you have an accepted purchase contract on a residential or commercial property. Keep in mind, we can also provide advances on residential and commercial leases.
It is also important to keep in mind that the commission advance must be on a property closing within 120 days or sooner from date of your application.
Does eCommission review my personal credit history?
Our program is faster, easier and much more accessible than traditional bank loans or credit cards. eCommission fully understands the challenges of managing your cash flow given the surprises that can sometimes surface at a closing. We DO NOT decline customers on the basis of a credit score. Our policy is to review your consumer credit information when you open up your account, not with each advance request.
How much of my commission can I receive from an eCommission advance?
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 requirements.
Does it matter if I am on the buyer or seller side of the transaction?
You can apply for a commission advance whether on the buyer or seller side of the transaction.
What happens if my sale doesnít close?
Did you know that 90% of all advances eCommission funds close on time? But in the unlikely event a sale fails to close, you can replace the failed transaction using a future earned commission.
How much will my eCommission advance cost?
The cost will vary based on the advance amount you are requesting, and the length of time to closing. In a typical example, the cost to advance averages 10% to 15% of the amount requested. Go to eCommission.com or, talk with a customer service rep at 1-877-882-4368 to find out the details specific to your needs.
What is a Closing Reserve?
When you receive an eCommission advance, the cost is calculated based on the closing date. The reserve covers the period after the closing date should the close be delayed. It is held back from the net advance you receive. The reserve provides coverage for up to 20 days past the closing date for your eCommission advance to be repaid by the closing company. Any unused balance is refunded to you.
How do I receive my eCommission advance?
Delivery of funds can be made by check or deposited electronically into your bank account.
Do I have the option of repaying the advance before the closing date?
Yes. You always have the option of repaying your commission advance before closing.
How long does it take to get my reserve refund?
It will generally take one business day to receive any balance of your reserve. Refunds are sent by ACH.
Are eCommission costs tax deductible?
As the proceeds of your eCommission are used for your real estate business expenses, the cost can be tax deductible. We will even send you a free, personalized account summary at tax time. Always be sure to check with your tax consultant or attorney.
Does my broker need to sign-up with eCommission for me to set up an account?
Does eCommission distribute or sell my personal information?
eCommission respects your privacy and, information received by eCommission will not be sold or distributed. Click here to review our Privacy Statement.
What are the Funding Cut-Off Times (Monday to Friday)?
4:00 PM Central Time is the wire cut off for same-day bank transfers
5:00 PM Central time if requesting a check sent by overnight courier
How long does it take to complete the wire funds transfer?
Once all the paperwork is complete and the underwriter has signed off, the wire transfer can take up to 3 hours to complete. If funds are being sent to a credit union transfers can take up to 1 day to complete.
Will the buyer and/or seller find out about my advance request?
eCommission never contacts the buyer or seller.
Does eCommission advance commissions to brokers/owners?
At the present time, eCommission is unable to advance commissions where the broker or owner of the company is also the agent requesting the advance. However, there is an option through an affiliate service 3-Click Advance to meet this need.
Do HUD sales qualify for eCommission?
Where the Government is the Seller under a HUD transaction, eCommission will carefully review each application. Please contact a customer service representative at 1-877-882-4368 to discuss the details. An "FHA" loan transaction is acceptable.
11612 Bee Caves Road, Building II, Suite 200 • Austin, Texas • 78738 Tel: 877.882.4368 • Fax: 877.882.6960
Hours of Operation: Monday-Friday 9:00am - 6:00pm CT