Real estate agents are well aware that closing deals and collecting commissions are crucial steps for their ongoing success, particularly when first starting out. However, the wait time between closing a sale and receiving your commission can be a significant financial burden that can cause undue stress at the worst possible times.
This is where real estate commission advances come in – a financing solution designed specifically for real estate agents. How exactly do commission advances compare to other financing options, however? What are the benefits vs. traditional financing methods, such as bank loans? In this article, we’ll explore the key differences, and why commission advances are the better choice for real estate agents.
THE DRAWBACKS OF TRADITIONAL FINANCING OPTIONS
Before diving into the huge benefits of commission advances, it’s probably a wise idea to take a look at some of the other financing options available to real estate agents, and why they may not be your best bet.
1) Personal Loans
2) Credit Cards
Using credit cards to cover expenses may be tempting, but it has forever been a trap that should always be avoided except in the most extreme of circumstances. Not only are the interest rates often exorbitant, but the sheer temptation to overspend can be overwhelming. Before you know it, you may be in over your head.
3) Home Equity Loans
Home equity loans may indeed provide a lump sum of cash, but they often require a significant amount of equity in your home, and can be difficult to qualify for. Surely there are better options, such as commission advances.
WHY CHOOSE COMMISSION ADVANCES?
1) Faster Access to Cash
2) Lower Interest Rates
Commission advances typically offer lower interest rates than personal loans and credit cards, making them a more affordable option. Why pay more when you don’t have to?
3) Flexible Repayment Terms
Home equity loans may indeed provide a lump sum of cash, but they often require a significant amount of equity in your home, and can be difficult to qualify for. Surely there are better options, such as commission advances.
4) No Collateral Required
5) No Credit Check
At Rocket Advance, a credit check is not required for a commission advance. Instead, we look at your closing history and incoming commissions to make our determination, which in turn makes it easier for agents with less-than-perfect credit to qualify.
6) No Hidden Fees
Commission advances typically do not come with hidden fees, making it easier to budget and plan for your finances. At Rocket Advance, we are upfront and transparent about all our terms, so real estate agents can choose us with confidence.
THE BETTER CHOICE
