If you happen to be a fledgling real estate agent, you already know that building a successful career requires a combination of hard work, dedication, and a bit of healthy strategic planning. One often-overlooked tool that can help agents just like you achieve their goals is commission advances.
Today we’re going to explore how real estate commission advances can significantly boost the odds for early-career real estate agents by providing the financial support and flexibility they need to thrive in the competitive real estate market. Interested? Follow along, and let’s dive in together.
WHAT ARE COMMISSION ADVANCES?
When broken down its core description, commission advances are a financing option that allows real estate agents to receive a portion of their hard-earned commissions upfront, as opposed to suffering through the typical 30-60 day payment cycle.
As you can imagine, this is especially beneficial for new agents who may not yet have a steady stream of income, or a large network of clients, but wish to lay the groundwork for future growth and success. In short, it’s a secret weapon of sorts that allows you to move forward faster, to build your career goals.
HOW COMMISSION ADVANCES CAN BENEFIT YOU
There are plenty of benefits to commission advances, some of which are unseen, and some that require a bit of attention to fully appreciate. Let’s examine a few, as follows:
1) Financial Stability
Commission advances provide a simple and direct safety net that allows new agents to cover their living expenses, pay bills, and invest in their business, all without worrying about delayed commission payments. Think of it as a kickstart to get you through those early months, while you build your reputation.
2) Marketing and Advertising
With a steady flow of funds to draw from, new agents can invest in targeted marketing campaigns, attend industry events, and build their professional network, ultimately driving more leads and sales. Once again, this is a massive shot in the arm to help you boost your reach.3) Business Growth
Commission advances enable new real estate agents to scale their business at a much faster rate by hiring staff, expanding their services, or investing in technology and training. With more resources at your disposal, you’ll be in a much better position to succeed.
4) Reduced Stress
With a reliable source of income, new agents can put their focus on what matters most – building relationships with clients, closing deals, and growing their contact lists. Without the stress of making ends meet, your level of enthusiasm will grow, and clients will definitely take notice.5) Increased Productivity
Without a massive financial burden to drag you down, you can turn your attention towards high-leverage activities like prospecting, networking, and (of course) providing a level of unparalleled and exceptional customer service. This kind of thing drives word-of-mouth advertising, and helps your reputation soar among prospective buyers and sellers.CONSIDER THE FOLLOWING FACTORS
When deciding on your real estate commission advance provider of choice, you’ll want to take the following factors into account:
1) Reputation
Always research the provider’s online reputation, and make certain to ask for referrals from colleagues and firms who have experience dealing with them. A good reputation goes far, as they say.
2) Interest Rates
It’s always wise to compare interest rates and fees among providers to ensure you’re getting the best deal. Competitiveness is always a good thing.
3) Advance Amount
Determine how much you need to advance, and choose a provider that offers flexible advance amounts. This will guarantee that you cover all costs, without having to deal with unexpected challenges.
4) Payment Terms
Review the payment terms, including the repayment schedule, to ensure it aligns with your business goals. The best real estate commission advance companies are quite flexible in this area.
5) Customer Service
Look for providers with excellent customer service, as you’ll likely have questions and concerns throughout the process. When you get stuck, the last thing you’ll want to contend with is the runaround.
CONCLUSION
Commission advances are a powerful tool for early-career real estate agents. Not only do they provide the financial support and flexibility needed to succeed in the competitive real estate market, but they also allow new agents to leap forward over their competitors, and scale their reach.
Choosing the right provider will allow you to use commission advances in a strategic manner so that you can build a strong foundation for your business, while driving growth, and achieving long-term career success. Rocket Advance is helping to lead the charge in this area, and we invite you to bring your commissions to us, so we can advance you the funds needed to grow faster, and more efficiently as a real estate pro!
