Six Things Your Commission Advance Can Do for You This Summer

The purpose of commission advances is not simply to help you pay your bills while you wait to receive payment. The idea is to keep a steady cash flow so that you can continue to invest in your business and build your career as a real estate agent. Putting your advance to good use can be a critical step to get ahead. Here are a number of ways that a commission advance can help you out: It can help educate you If you find yourself with free time this summer, or if business hits a lull, ...

Six smart investments for your commission advance

While commission advances are often thought of as a means to cover the essentials while you wait to get paid, another crucial part of the equation is being able to continue investing in your business, particularly as you get started. Here are some of the smart investments that will help fuel your continuing success as a real estate agent. Staging equipment If you’ve already cut some deals without staging materials, good for you! But sooner or later you’re going to want to be able to stage an open house. Doing so can be a key part ...

Five things that take longer than an eCommission advance application

Applying for a commission advance is simple and quick. Here at eCommission we want to make sure you can apply for and receive your hard-earned advance in under an hour. While you may not realize it, many things that are part of your routine can actually take longer than getting an eCommission advance. Here are five examples: Waiting in line at the DMV It’s everyone’s least favorite activity. Ranks right up there with getting a root canal. Well, okay, it’s not that bad, but pretty close! Come to think of ...

Commission Advance 101: what happens if my sale falls through?

Commission advance is a service tailored exclusively to real estate professionals Salaried employees enjoy the benefit of knowing exactly what they’ll earn on their next paycheck, and when they’ll receive it. Selling real estate is a different story. Some months you may close two or three sales and earn thousands of dollars. Other months… nothing. Riding this “cash flow roller coaster” as described by Barbara Corcoran, is the #1 reason why agents leave real estate. Solving this challenge is crucial for sustaining long term business growth.  A commission advance is designed just for agents and takes the nature ...

Six common delays to avoid when applying for a commission advance

eCommission is known for its fast, responsive application process that allows real estate agents to receive advance payment of their commissions in under one hour. As we explained in an earlier post, we designed the process to be as simple and straightforward as possible. But mistakes and confusion can still happen occasionally causing delays in receiving your funds. To make sure your experience using eCommission goes as smoothly as possible, we thought it’d be best to describe the six most common things to avoid during the application process: Not autosaving your password ...

Tax deductibility of a commission advance, how to use to your benefit.

With tax season fast approaching, we wanted to give you a few reminders about the tax benefits when receiving a commission advance. Suffice it to say, there’s good news, so take advantage. What is tax deductible? Fees: As an independent contractor, the fees you pay to secure a commission advance are a fully deductible business expense. It’s a true cost of doing business and as such will be 100% deductible. For sole proprietors, this means recording the fees as a business expense on  Schedule C of your tax return. Business expenses: Further benefits when ...

Getting a commission advance: when to apply

There’s no better feeling in real estate than when you make the sale. Except perhaps when you get the commission check! But first comes the wait for the commission check. Will it be 30 days, 45 days, 60 days? Every closing is different, and the wait-time can throw a wrench into the growth plans of your business. Will you have money for your next advertising campaign? Do you have enough cash on hand for the new tires on your ‘mobile office’? What about paying for an assistant to help you with all the time-consuming administrative duties that keep you from selling? Getting ...

The 7 myths of commission advances

There is a lot of confusion surrounding commission advances among real estate professionals. What are they? Who gets them and why? What’s the catch, if any, involved? This lack of familiarity has at times lead some agents to make assumptions that simply are not borne out by the facts. We call these assumptions ‘myths,’ not because the concerns are without merit. Just that the explanations provided by some have been so far off the mark that we wonder how they arrived at those conclusions. So what better way to explain what commission advances really are, not to mention how they regularly help ...

Innovation: an open letter from eCommission founder, Sean Whaling

You don’t have to look hard to see that innovation in many industries is growing, especially in financial services. In real estate, eCommission has taken on the challenge of addressing the financial needs of agents and brokers. And by doing so, it is altering the way they manage their business cash flow. Cash flow rollercoaster. The challenge faced by commission-based professionals is that their income often fluctuates. Some months are great, others…not so much. Like real estate mogul, Barbara Corcoran, said in her helpful tip series for agents, it can feel like an income rollercoaster sometimes because of the unpredictability ...

10 popular ways real estate agents use an eCommission advance

There’s no question that real estate professionals come to eCommission so that they can smooth out cash flow in between closings. Even Barbara Corcoran noted in a recent video that “agents use eCommission to control the timing of when they get paid” in order to get some predictability over what sometimes seems like a “roller coaster.” One question many agents have, however, is what are some of the ways they can use the advance to give their business a boost. We decided to ask agents about some of the ways they use eCommission to continue investing in the future of their business. ...