When can I apply to receive an Agent's Equity Advance?
When you have an accepted purchase contract for a single-family residential property, town home or resale condominium. Sorry, but vacant land, investment or commercial transactions do not qualify.

Does my broker need to register before I can apply for an Agent's Equity Advance?
Yes, in order to apply for an Agent's Equity Advance, your broker must be registered in our database. This can be done quickly by calling 1-800-331-9756.

Do I need an account to apply for an advance?
Yes, all agents applying for an advance must first set up an account. This can be done by calling 1-800-331-9756.

Will Agent's Equity distribute or sell my personal information?
No, we respect your privacy. Information received by Agent's Equity will not be sold or distributed.

How much of my commission can I receive from Agent's Equity?
Up to 90% of your “net earned commission” is available to a maximum of $10,000 per transaction. The remaining 10% is not purchased by Agent's Equity and is paid to you as usual, at closing.

How many days before my closing date can I apply for an Agent's Equity Advance?
You can apply for an Agent's Equity Advance if the sale is closing within 120 days from the date of your application.

Are there any exceptions to the $10,000/120 day limits?
In certain cases, with established clients, we will consider extending the limits to $15,000 and 150 days.

How is my Agent's Equity Advance delivered to me?
Delivery of funds can be made by cheque or deposited electronically into your bank account.

How much will my Agent's Equity Advance cost?
The cost is made up of a fee and discount rate, and is determined by the amount that you would like to advance from your commission and the length of time until your sale closes, plus a refundable reserve. For example, to receive a $3,000 commission closing in 45 days, your cost would be approximately $115.00. For a free quotation on price, please call toll-free 1-800-331-9756.

What is the reserve?
When you receive an Agent's Equity Advance, the cost is set from the day that you apply until the day of closing. To cover days after closing, a reserve is held back from the net advance that you receive. This covers a total of 20 days after closing for the commission purchased to be repaid.

It is important to understand that the reserve is refundable to you, depending on how quickly funds are re-paid after closing. The reserve protects you in case a sale's closing is delayed or amended. If this happens, you'll have peace of mind knowing that no additional charges will be applied for a period of 20 days after the original closing date. If the sale takes longer than this to be repaid, a debit will exist in your account that is adjusted on your next advance.

Is this tax-deductible?
It can be! When you use the proceeds of your Agent's Equity Advance exclusively for your real estate business, the cost can be tax deductible. We will even send to you by fax, a free, personalized account summary at tax time, at your request.

What happens if my sale doesn't close?
Reality is, after a purchase contract has been signed, 98% of residential sales close on schedule. But if a sale does fall through, you should know that we have a straightforward policy. You are given 60 days from the original closing date to repay the full amount of the commission purchased. If you prefer, you can choose to replace the outstanding amount with the proceeds of future sales. A minimum of 25% from each subsequent commission is applied to the balance until repaid in full.

How do I apply for an Agent's Equity Advance?
Your first step is to create an account by phoning our office. After your account has been set-up, you can login to the Agent's Equity web site any time of day or night to enter the information for the sale on which you would like to receive an advance. Entering this information online is a straightforward process that takes less than five minutes!

Once completed, an Agent's Equity Agreement is instantly faxed to you. The Agent's Equity Agreement must be signed by you and your broker. Then simply return the signed agreement by fax along with your supporting sale information.

We'll review your paperwork and notify you if your Agent's Equity Advance is approved. If your request is declined, or if there is missing information, a customer service representative will call you directly.

What supporting sale information do I need to supply?
Along with the signed Agent's Equity Agreement, you will need to include the following supporting sale information:

• A copy of your completed sale contract, including all schedules and waivers.
• A copy of the final "Trade Record Sheet" showing a breakdown of the commission you have earned.
• The name, contact name and phone number of the attorney(s) handling the sale.