How it works
Advance Commissions is in the business of making the real estate business easier. If you're an agent, a real estate broker or mortgage broker, you know first hand it's a fast-paced, complex industry where success comes through hard work and lots of it. At Advance Commissions, we're here to help you enjoy your success that much sooner.
Through our unique service, we provide advances on commissions of confirmed residential sales and broker complete mortgages. We offer same day direct deposits, and instant approvals. To make our deal even better, all fees are tax deductible. Here's how it works:
Fee Structure
Advance Commissions will advance up to 100% of your earned commission amount upon broker approval. A $3000 advance for 30 days would cost as little as $120.00 and the reserve is pro-rated and rebated back to you after closing.
Property Requirements
Advances are available on commission sales of residential properties including re-sale homes, resale condos, new construction, land, mini-homes, modular homes and duplexes. Some multi-family homes are considered on a case-by-case basis so please call us to verify. Advance Commissions will advance on sales up to 120-days.
Mortgage Requirements
Advance Commissions will advance commissions on new purchases of resale homes, new construction, mini homes, modulars, duplexes and land. We will also advance on refinances and leases.
Fallen Sales
In the event that a sale falls, you simply remits to Advance Commissions your next confirmed sale. We will use the funds to pay-off the fallen sale and even fund you the balance.
Applying for an Advance
Our process is simple and fast. In fact, to make it even easier we give you two application options. Choose the one that works best for you.
Option 01All applications are online. Agents can call our office to obtain a username and password to access the site and prepare their own contracts. When you're ready you can fax the application to ACC for processing along with the necessary supporting documents.
Agents can fill out an advance request form and fax it to our office for completion along with the necessary additional paperwork (See Advance Request). We will prepare the contract and fax it back to you to be signed and returned again for processing. Preparation of contracts online is less time consuming, and the site is very user-friendly. If you need help on how to use the online process, we are happy to demonstrate - just give us a call.
Required Paperwork
For each commission advance, we require the following documents to accompany your application:
Realtors- 2-page contract signed by agent and broker
- Waivers of conditions (insurance, financing)
- Purchase and sale agreement
- Void cheque (company or personal)
- Office trade record sheet
- Sold MLS sheet
- Signed mortgage commitment
- Funding letter/broker complete letter
- Purchase and sale agreement
- Waivers of condition
- Sold MLS sheet
- 2-page signed commission sales agreement
- Void cheque or new accounts
Remitting Payment
The broker or office administrator will remit the funds to us once the deal closes. Funds may be remitted via mail, direct deposits, wire or electronic fund transfer (EFT).