Commission Express – the ONLY franchised real estate commission advance
company in the country – is locally owned and operated. Personal,
confidential service and fast response are the backbones of our
business.
Q: What do you call this service?
Q: Do other agents use this?
Q: What do I need?
Q: How does it work?
Q: Okay, when do I get my check?
Q: How much do I get?
Q: Any limits?
Q: What does this service cost?
Q: What if the settlement date slips?
Q: How do I get started?
Q: What is a back-up transaction?
Q: What do you call this service?
A: We call it convenient, you might call it indispensable. It's our
take on the centuries-old practice of “factoring” -- selling accounts
receivable at a discount in advance of the due date. You “sell” us your
receivables – your commission – which we “buy” with no financial
statement needed.
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Q: Do other agents use this?
A: Yes – lots of them. Nationwide, Commission Express has advanced over
75,000 commissions totaling more than $400 million dollars.
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Q: What do I need?
A: All you need is a ratified, non-contingent contract with preliminary loan approval. And a phone to call Commission Express.
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Q: How does it work?
A: Once you have an executed contract that’s out of any option period, complete our online application.
We will then fax or email you several documents for signatures. Once
you have returned them (along with some supporting documentation), we
will wire the advance directly into the bank account you designate. Or
you may choose overnight delivery. When the sale closes, the commission
comes directly to Commission Express, and we return any balance to you
by wire ($39) or mail (no charge).
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Q: Okay, when do I get my check?
A: Typically the day after we receive the complete documentation. There
is a nominal fee for same-day rush service.
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Q: How much do I get?
A: Upon approval, we'll write you a check for up to 82% of your total
commission – and you'll receive another 10% (the “holdback”) after
settlement.
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Q: Any limits?
A: No way. We underwrite each transaction on its own merit and make our decision
on a transaction-by-transaction basis. So there are no set advance limits.
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Q: What does this service cost?
A: You pay nothing up front. Your cost is called a “discount” and is
paid from settlement. Commission Express discounts the commission from
8% to 15% on 1 to 90-day settlements. There is a $249 minimum discount
fee on each transaction. Fees may vary based on the type of transaction
(e.g. residential, land, commercial, new construction, leases) and your
prior advance track record with us.
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Q: What if the settlement date slips?
A: Our exclusive 30-day grace period on all transactions gives the
agent or broker considerable peace of mind should the date slip.
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Q: How do I get started?
A: Make the sale then pick up the phone. Call Commission Express or fill out the online application. And unlock the power of cash flow.
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Q: What is a back-up transaction?
A: A back-up transaction is a second property you have under contract
that is closing after the one you have already submitted. Sometimes we
will request that you go on-line and submit a “Back-up” so that we may
get your advance completed. This could be for any number of reasons
(e.g. a prior transaction redeemed late, you’re a primary broker, there
is missing or incomplete paperwork on the first transaction, the
builder has a poor track record for completing homes on time, etc.).
There is no fee for submitting a back-up. It is just there to give
added strength to your file so that we may better meet your needs.
Whichever transaction closes first, the original file or the back-up,
will redeem your advance.
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