What is a commission advance? +
A commission advance is a financial service that allows an agent and broker to sell a portion of a pending commission for a fee. In exchange, funds are advanced before closing. It provides access to an earned commission prior to an estimated settlement date.
Does a commission advance make sense for me?+
Cash-flow ups and downs are common across the industry, from top producers to agents just getting started, primarily because of inconsistent timing for closings.
Consistent cash-flow management is critical for growth. For more than 25 years, agents of all production levels have used eCommission two to three times a year to navigate uneven income cycles and invest in their business.
What happens if my sale doesn’t close? +
eCommission advances close as scheduled 90% of the time. But if a sale falls through, an agent can replace it with a future earned commission.
eCommission has built an industry-leading 20-day grace period into the transparent, one-time rate of the advance.
How much will my commission advance cost? +
The cost depends on the amount requested and the time until closing. If a new customer requested $2,000 on a sale closing in 20 days, the cost would be about $220. Contact a customer service representative at 877-882-4368 for more specific details.
Are eCommission’s costs tax deductible? +
Wires submitted before 4:00 PM CT are typically processed the same business day.
What happens if my closing is delayed? +
The eCommission fee includes an industry-leading 20-day grace period, meaning agents have 20 days beyond the estimated closing date to repay the advance.
How much commission can I receive from an advance? +
Agents can access up to 100% of their net earned commission to a maximum of $20,000 per transaction and $60,000 total. The actual advance limits are subject to underwriting requirements.
How do I receive my eCommission advance? +
The money is wired to the agent’s bank account once the advance is approved.
How long does it take to receive my funds through wire transfer? +
The money is wired within one hour during normal business days once the agent signs the agreement and the settlement company confirms the transaction. Transfers can take up to one business day if funds are going to a credit union.
What are the funding cutoff times? +
The wire cutoff for same-day bank transfers is 4 p.m. CST Monday through Friday.
What kind of commission does eCommission advance? +
eCommission advances commissions on pending sales or active listings. Learn more about
the services.
How do I apply for a commission advance? +
The agent starts by setting up a free account in minutes. The agent then provides sale details, including contact information for the settlement company closing the sale, for the property eligible for the commission advance. Once the application is completed, eCommission instantly sends a digital agreement to the agent and broker through Docusign for electronic signatures.
eCommission then receives the signed documents, reviews the paperwork, and notifies the agent when the advance is approved. If eCommission cannot approve the request, or if there is missing information, a dedicated account manager will contact the agent.
How does repayment work? +
Repayment is 100% automatic at closing. There are no monthly payments.
Once the property sale closes, the settlement company receives a commission disbursement authorization signed by the broker instructing it to send the portion of the sold commission directly to eCommission at close of escrow.
Will the buyer or seller find out about my advance request? +
No. eCommission never contacts the buyer or seller.
Does eComission advance commissions to broker agents? +
Yes. eCommission will advance to brokers who are also buying or selling agents for their own sales. A few restrictions apply on the type and size of advances. The eCommission customer support team can provide details. .
