Business expenses such as marketing, dues and travel are constant, but commission checks are often unpredictable.
A commission advance is a financial tool that helps agents access earned commissions before closing to bridge funding gaps caused by inconsistent income.
Here is a step-by-step guide to using eCommission to stabilize the business and keep momentum.
Step 1: Determine the Funding Need
A commission advance isn’t a loan. It’s the sale of a portion of earned commission for a fee. It’s best used for:
- Delayed Closings: A sale is pushed back 30 days, but bills are due now
- Business Growth: There is an immediate opportunity to invest in lead generation or new marketing
- Expense Management: There is an immediate need to pay for car repairs, licensing fees or assistant payroll
Step 2: Submit a Fast Online Application
eCommission designed the process to be efficient and used on mobile devices. To get started:
- Visit the eCommission application page
- Provide basic personal and real estate company details
- Enter information about a pending sale or active listing
- Earn approval based on sales production rather than a personal credit score
Step 3: Review and Sign Digitally
Once they submit the application, agents:
- Receive an agreement through Docusign
- Review the terms and flat discount fee
- Sign the documents electronically from a phone or computer
Step 4: Underwriting and Verification
An eCommission account manager performs a quick review to:
- Verify the transaction details with the settlement company closing the sale
- Ensure the money is directed correctly when the deal closes
Step 5: Receive the Money
After the final review, eCommission transfers the money directly to a bank account.
- Speed: Funds are often delivered in as little as one hour
- Repayment: The advance and fee are paid automatically by the settlement agent from the commission at the time of closing
Tips for Success
- Use a Promo Code: New customers can save 10% off their first pending sale advance fee by using the code SAVE10
- Plan for the Grace Period: eCommission includes a 20-day grace period past the scheduled closing date as a safety net if the closing hits a snag
About eCommission
Since 1999, eCommission has empowered real estate professionals to navigate the complexities of commission cycles with ease. We provide fast access to pending commissions, strategic cash management tools and secure, automated payment technology. Combining over a quarter-century of expertise and $2 billion funded, eCommission is the trusted partner for agents looking to master their financial forecast and grow their business.
