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Frequently Asked Questions

Answers for Agents

Questions asked by Real Estate Agents

When can I apply to receive an Agent’s Equity Advance?

The moment your transaction becomes a firm and unconditional sale, you can apply for an advance of funds.

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.

Is a commission advance like a pay-day loan?

Absolutely not. When you sell a commission receivable you are selling an asset that you already own. You are not borrowing against a future paycheck. That is a huge difference.

Are commission advances a permanent way to finance my business?

That’s up to you. It is often best used as a short-term solution to your financial needs.

Is a commission advance cost effective?

YES – especially when you consider some of the alternatives such as:
•    Losing control of your business;
•    Losing profitable opportunities due to lack of finance;
•    Pledging your home and other personal assets;
•    Losing a marketing opportunity that would increase sales.

Should I spend a large portion of my profit on commission advances?

No. Not unless it is obvious that a net return can be earned that justifies it. Remember that, “half a loaf is better than no loaf at all!” If your business has high fixed costs (desk fees, staff, rent etc.) then the marginal costs of increasing sales can be quite low, relative to the potential return and a commission advance will work for you.

How large do I have to be to use commission advancing?

There is no “right” size. The Agent’s Equity program is designed to suit the needs of all realtors. Because we impose no maximum or minimum restrictions on the amount of business transacted, it is literally a “tailor made” program – just for you.

Are the fees for a commission advance tax deductible?

Many of our agents have received tax deductions when using a commission advance for business purposes. See your accountant for more information. Agent’s Equity provides tax receipts upon request.

Do I need to set up an account to apply for an advance?

Yes. One of our representatives would be happy to quickly set up an account for you. Just call 1-800-331-9756.

Will Agent’s Equity distribute or sell my personal information?

Absolutely not. We respect your privacy. Information submitted to Agent’s Equity will not be sold or distributed.

How much of my commission can I receive from Agent’s Equity?

Up to 90% or $15,000 of your net commission receivable!

Can I access more than one commission at a time?

No Problem! Agent’s Equity Can handle up to $50,000 of your net commission receivables!

How many days before the closing date can I apply for an advance?

You are welcome to apply within 150 days of the closing date!

How is my Agent’s Equity Advance delivered to me?

Delivery of funds can happen in 1 of 2 ways: Cheque or Electronic Bank Transfer.

How much will an advance cost?

Our commission advance service can cost you as little as $74.50 per transaction! If you have a deal that has firmed up and would like to know how much it would cost to get your money today, give us a call at 1-800-331-9756 for a free quotation.

What happens if my sale does not close?

The reality is, after a purchase contract has been signed, the vast majority of residential sales close on schedule. but if a sales does fall through, you have two easy options. Either repay the full amount of the commission purchased within 60 days, or repay the outstanding amount with the proceeds of future sales. A minimum of 25% from each subsequent commission is applied to the balance until paid in full.

How do I apply for an Agent’s Equity Advance?

Your first step is to create an account by phoning our office or registering on our website. After your account has been set up, you can log in to our website day or night to enter the information for the sale on which you would like to receive an advance. Enter this information online is a straightforward process that takes less than 5 minutes!

I’ve entered my information online. What’s next?

Once completed, an Agent’s Equity Commission Sale Agreement will be automatically delivered to you via fax or email. This agreement must be signed by yourself and the Broker of Record, and faxed back to us along with your supporting documents. We’ll review your paperwork and notify you if your Agent’s Equity Advance is approved. If your request is declined, or if any information is missing, a customer service representative will call you directly.

What supporing documentation do I need to supply?

Along with the signed Agent’s Equity Agreement, you will need to include the following supporting sale information:

  • A fully copy of your firm Agreement of Purchase and Sale
  • A copy of the final Trade Record Sheet shoing breakdown of the commission you have earned
  • The name, contact and phone number of the solicitor/notary handling the sale

Answers for Brokers

Questions asked by Real Estate Brokers

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.

Are commission advances a permanent way to finance my business?

That’s up to you. It is often best used as a short-term solution to your financial needs.

Is a commission advance cost effective?

YES – especially when you consider some of the alternatives such as:
•    Losing control of your business;
•    Losing profitable opportunities due to lack of finance;
•    Pledging your home and other personal assets;
•    Losing a marketing opportunity that would increase sales.

How large do I have to be to use commission advancing?

There is no “right” size. The Agent’s Equity program is designed to suit the needs of all realtors. Because we impose no maximum or minimum restrictions on the amount of business transacted, it is literally a “tailor made” program – just for you.

Are the fees for a commission advance tax deductible?

Many of our agents have received tax deductions when using a commission advance for business purposes. See your accountant for more information. Agent’s Equity provides tax receipts upon request.

Will Agent’s Equity distribute or sell my personal information?

Absolutely not. We respect your privacy. Information submitted to Agent’s Equity will not be sold or distributed.

Will I need to sign anything?

Yes. As the Broker of Record it is required that you, or an appointed signing officer for the Brokerage, sign on each of our Commission Sale Agreements.

What if one of my Sales Representatives’ deals fall through?

This rarely happens, but when it does, Agent’s Equity will work through a repayment schedule that is suitable with us and the realtor. The Broker does not have any liability should this happen.

Can I advance on my own sales, or the office portion?

Yes! We can certainly help with your cash flow as well. Give us a call to discuss. It only takes a minute or two to get set up!

Can I collect outstanding fees that I am owed by my agents?

Yes! Our technology allows for you to collect any outstanding fees when an agent processes an advance. Simply apply the amount that you would like made payable to the brokerage, and we will either submit an Electronic Bank Transfer or send a cheque to you that day!

General Answers

Frequently Asked Questions that are not specific to a Real Estate Agent or Broker.

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.

Are commission advances a permanent way to finance my business?

That’s up to you. It is often best used as a short-term solution to your financial needs.

Is a commission advance cost effective?

YES – especially when you consider some of the alternatives such as:
•    Losing control of your business;
•    Losing profitable opportunities due to lack of finance;
•    Pledging your home and other personal assets;
•    Losing a marketing opportunity that would increase sales.

Should I spend a large portion of my profit on commission advances?

No. Not unless it is obvious that a net return can be earned that justifies it. Remember that, “half a loaf is better than no loaf at all!” If your business has high fixed costs (desk fees, staff, rent etc.) then the marginal costs of increasing sales can be quite low, relative to the potential return and a commission advance will work for you.

How large do I have to be to use commission advancing?

There is no “right” size. The Agent’s Equity program is designed to suit the needs of all realtors. Because we impose no maximum or minimum restrictions on the amount of business transacted, it is literally a “tailor made” program – just for you.

Are the fees for a commission advance tax deductible?

Many of our agents have received tax deductions when using a commission advance for business purposes. See your accountant for more information. Agent’s Equity provides tax receipts upon request.

Do I need to set up an account to apply for an advance?

Yes. One of our representatives would be happy to quickly set up an account for you. Just call 1-800-331-9756.

Will Agent’s Equity distribute or sell my personal information?

Absolutely not. We respect your privacy. Information submitted to Agent’s Equity will not be sold or distributed.

How much will an advance cost?

Our commission advance service can cost you as little as $74.50 per transaction! If you have a deal that has firmed up and would like to know how much it would cost to get your money today, give us a call at 1-800-331-9756 for a free quotation.

How do I apply for an Agent’s Equity Advance?

Your first step is to create an account by phoning our office or registering on our website. After your account has been set up, you can log in to our website day or night to enter the information for the sale on which you would like to receive an advance. Enter this information online is a straightforward process that takes less than 5 minutes!

I’ve entered my information online. What’s next?

Once completed, an Agent’s Equity Commission Sale Agreement will be automatically delivered to you via fax or email. This agreement must be signed by yourself and the Broker of Record, and faxed back to us along with your supporting documents. We’ll review your paperwork and notify you if your Agent’s Equity Advance is approved. If your request is declined, or if any information is missing, a customer service representative will call you directly.

Get your commission advance in as little as 30 minutes.

Register now and get back to doing what makes you money - selling homes.

Or, give us a call and speak directly with our helpful staff:
1-800-331-9756

Attention: Brokerage Owners

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