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Agent FAQs
eCommission is a Factoring company that purchases the fee earned by real estate brokers on pending sale transactions and accelerates payment ahead of a scheduled closing date. It’s not a loan. It’s simply access to the money you’ve earned without the wait!
From top producers to agents just starting out, cash flow ups and downs are common to almost everyone selling real estate, mostly due to the timing of when sales close. eCommission solves cash flow gaps by giving you access to your real estate fees on your schedule.
On average, 90% of transactions approved by eCommission close as scheduled. If one cancels, simply replace the transaction using the real estate fees you earn from a future closing. If you earn nothing in the future or leave real estate, there is no obligation to pay. The transaction is non-recourse. eCommission bears the risk of loss.
The cost to use eCommission depends on the amount of your pending real estate fee we purchase, and the length of time until your sale closes. Check out our cost estimator or, talk with a customer service rep at 1-877-882-4368 to find out the details specific to your needs.
As the proceeds of your eCommission are used for your real estate business expenses and not for personal use, the cost can be tax deductible.
The cost to use eCommission includes a 20 day grace period, meaning you have 20 additional days beyond the estimated closing date to have the purchased receivable paid in case of delays.
Up to 100% of your net earned fee amount is available to a maximum of $20,000 per transaction. Please note that actual limits are subject to underwriting requirements.
Your money is wired to your bank account once approved.
Once your agreement is signed and your transaction confirmed with the settlement company, funds are wired to you within one hour, during normal business days. If funds are being sent to a credit union, transfers can take up to one business day to complete.
4:00 PM Central Time is the wire cut off for same-day bank transfers.
We will fund your fees earned on pending residential sales scheduled to close within 120 days. The file must be opened with the closing company and earnest money received.
Start by setting up your free account. You will need to know the sale details of the property for which you would like to be paid, including contact information for the company closing the sale. Once your application is completed, the eCommission agreement is instantly presented to you online via Docusign and then sent to your broker for electronic signature.
When the signed documents are sent back to eCommission, we will review your paperwork and notify you when your transaction is approved. If we cannot approve your request or, if there is missing information, an account manager will personally contact you.
When the signed documents are sent back to eCommission, we will review your paperwork and notify you when your transaction is approved. If we cannot approve your request or, if there is missing information, an account manager will personally contact you.
Payment happens automatically when your sale closes. The settlement company receives an invoice signed by your Broker instructing them to send the portion of your net earned fee that has been purchased directly to eCommission at close of escrow.
No. eCommission never contacts the buyer or seller.
Broker FAQs
eCommission is a Factoring company that purchases the fee earned by real estate brokers on pending sale transactions and accelerates payment ahead of a scheduled closing date. It’s not a loan. It’s simply access to the money you’ve earned without the wait!
Only a real estate broker is authorized to collect a fee for providing real estate related services, therefore, Agents cannot receive accelerated funding of their portion of an earned fee without the Broker’s authorization.
No. In the unlikely event we purchase a fee earned on a sale that falls through, the agent is asked to replace it using fees earned from a future sale. As broker, your only responsibility is to direct any future fees earned by the agent to eCommission. If none are ever earned or the agent leaves your Company or industry for example, there is no obligation to pay. The transaction is non-recourse. eCommission bears the risk of loss.
Payment happens automatically when your sale closes. eCommission purchases the broker's invoice to the settlement company closing the sale, and provides instructions for payment of the receivable to eCommission on the sale’s closing date. Alternatively, the option exists to have your Company direct payment of the purchased receivable to eCommission after closing.
eCommission provides funding up to 120 days ahead of the scheduled closing date. An agent can request up to 100% of their net earned fee after any split with their broker, to a maximum of $20,000 per transaction. These transaction limits can be lowered at your discretion, just give us a call to discuss.
Better control of cash flow allows agents to manage their professional lives more efficiently. Experience indicates that agents typically use eCommission 2 to 3 times per year, whenever business expenses surpass monthly cash flow. With eCommission as your partner, you can help your agents control the timing of when they get paid, keeping them focused and engaged, resulting in more listings, more sales and higher levels of productivity.
