Dedicated to helping you grow your real-estate business
Frequently asked questions about the CB4C process.
What is a commission advance?
A commission advance gives agents the opportunity to collect their earnings from a sale before the closing date. Our service provides the agent with necessary cash flow Doing so can give an agent much-needed cash flow to… vacation, tuition, IRS, etc.
In addition to our standard commission advance, we offer the Steady Income Program (SIP). SIP allows agents to receive an advance, not in one lump sum, but spread out over a number of months to create steady cash flow.
What percentage of my closing commission can I get advanced?
Commission Before Closing will advance up to 90% of a sales commission.
What are the fees?
Fees are percent based. We base fees on a simple calculation that references the time delta between the day you receive the advance and the closing date. To calculate fees on a specific transaction, please use our calculator.
Any hidden fees, surprise costs, or administrative fees I need to be aware of?
There are no hidden fees. Commission Before eClosing is a transparent organization and we provide all costs before an agent commits.
What is the timeframe to receive my advance?
If the application and the supporting documents are received by 3:00 PM EST, then you should receive your funds the same day. If the application and supporting documents are received after 3:00 EST, then you will receive funds the following business day.
Are the buyer/seller agents made aware of my advance in any way?
Buyers and Sellers will not know about your commission advance. The only entity that may be aware of the advance is your broker.
Is there a minimum or maximum amount or percentage I can receive as an advance?
We advance up to 90% of a sales commission. The minimum advance amount is $2,000, and the maximum is $20,000. Any amount over $20,000 will be considered on a case-by-case basis.
What types of real estate transactions do you advance on?
We advance on buyer-side sales, and listings with no sale agreement yet.
Do you advance on commercial real estate transactions?
We will be offering commercial advances in the very near future.
How far ahead of a closing date will you advance funds?
There is no limit on how far ahead of a closing date we will advance funds. However, the sale must have all “contingencies” removed or past the date.
(Contingencies include; home inspection, sale of buyers residence, and buy has fully qualified for their mortgage amount.)
What if my closing is delayed?
We understand issues come up beyond your control, so we allow for a seven-day grace period. After seven days the rate goes up based on the days of the delay and we take that amount from the portion of the commission we did not advance on.
What if my sale doesn’t go through?
If a sale doesn’t go through, the signed agent agreement states the advance and fees are simply taken from the agent’s next closing. However, the rate will go up based on the new timeframe.
What type of grace period does CB4C offer?
We allow for a seven-day grace period. After seven days the rate goes up based on the days of the delay and we take that amount from the portion of the commission we did not advance on.
What do you require from me to apply?
Agents supply an application and a few supporting documents. These supporting documents vary from brokerage to brokerage depending on the relationship Commission Before Closing has with that Brokerage.
Does my broker have to be affiliated with Commission Before Closing?
No. Your brokerage doesn’t have to be an affiliated partner to take advantage of our commission advance service. An affiliation only simplifies the application and approval process. (We welcome agent referrals to their broker/owner.)
Is the application process confidential?
Yes. It’s entirely confidential to create an account and submit an application. All data is stored in a secure environment.
Do you perform Credit Checks?
No. Our underwriting platform is based on future earnings and does not require a credit check.
How is this different than a standard business loan?
Our commission advance is not a loan. Loans come with far more regulatory requirements and hassle. We are simply buying a receivable for a small fee.
Can I acquire multiple advances at the same time?
Yes. Commission Before Closing allows for up to three advances concurrently, depending on the agent’s last 12 months of MLS productivity (required document). We can extend the number of advances beyond three if an agent completed more than 12 deals in the previous 12 months.
Do you service agents nationwide?
Yes. Our services are available to agents nationwide. Dedicated to helping you grow your real-estate business.