A commission advance is not a loan. It is a process in which you and your Broker agree to sell all or a portion of the pending earned commission. Advance My Commission purchases the account receivable (earned commission) and advances you the approved amount for a fee. The advance allows you access to your commission before closing.
No. There is never any liability or risk on your Broker to repay the agent's advance. As commissions belong to the Broker, we will send your Broker the agreement authorizing the sale and assignment of the agent's portion of the commission, after any split with your Broker, to Advance My Commission. Your Broker is only responsible to direct any future earned commission by the agent to Advance My Commission.
Commission advances provide a more steady line of income. Rather than feeling the ups and downs of real estate, falling behind on business expenses, real estate agents are able to better control their cash flow and expenses throughout the year. The balance of cash flow and expenses now allow the agent to remain focused on marketing, more sales, and more listings.