Why do real estate professionals use Commission Connection?

Factoring is a well regarded, widely used financial service. Factoring commission receivables or commission advances enables real estate professionals to accelerate the payment of up to 70% of a commission due them to operate and promote their business today. Common uses of “Accelerated Commissions” include covering cost of promotions, marketing listings, advertising, and office overhead (as well as staffing assistants). Brokers can benefit from the service personally as well as endorse it to assist experienced and new agents and for recruiting.

How fast will my registration and “Accelerated Commission” payment be processed?

Client registrations are approved in hours of being submitted. Once your registration is complete, “Accelerated Commission” payments can be received within 24 business hours of the time a request is submitted to Commission Connection.

What is the fee for an “Accelerated Commission” and when is it paid?

The fee for an “Accelerated Commission” is a discount of the agent’s share of the commission. The discount equates to 8% of the commission for a 30-day settlement, 10% for a 60-day settlement, or 12% for a 90-day settlement. The minimum a discount fee can be is $150.00. In addition to the discount fee, all “Accelerated Commission” payments incur a $49.00 processing fee to facilitate processing and overnight delivery. The combination of the discount and processing fees are paid with the “Accelerated Commission” at settlement.

Can I accelerate less than 70% of my commission? What is the fee?

Yes. If an agent is expecting a large commission or only needs a portion of their commission payment accelerated, we can help. Simply request the amount you need and an account representative will compute your savings. The agent will save on the fee and still receive the needed funds. This processing fee will be the same as a normal “Accelerated Commission”.

What is the Brokerage’s role in an agent’s transaction with Commission Connection?

The Brokerage or Broker-In-Charge must verify the information provided by agent is correct. Once the “Accelerated Commission” payment is funded, Commission Connection notifies the brokerage that the “Accelerated Commission” was approved, funded, and sends repayment instructions. At settlement the brokerage repays the “Accelerated Commission” and the fees for the transaction directly from the agent’s share of the commission. The brokerage then pays the balance of the commission to the agent. The brokerage is expected to promptly send funds to Commission Connection after settlement occurs.

If the agent’s contract fails, the brokerage is responsible to assist Commission Connection and the agent in re-assigning a new commission receivable. If the agent fails to do so, the brokerage may be asked to retain that agent’s future commissions and forward to Commission Connection until the entire obligation is satisfied.