Oftentimes, real estate agents make money through commissions based on the sale price of a property. However, there are times when a realtor may need to access their commission before the closing date. This is where a real estate commission advance can come in handy. The financial tool will provide you with the money you need to meet business expenses and improve your cash flow situation. But how exactly can you use commission advances to boost and sustain your business?
Here are a few ideas to consider.
MARKETING AND ADVERTISING
As a real estate agent or broker, you need to market properties before you can sell them. You can use the money you obtain through a commission advance to invest in promotional materials. These include a website, flyers, brochures, posters, business cards, direct mailing lists and display advertising. Proper marketing will help you attract potential buyers and sellers, effectively enabling you to grow your customer base.
INVEST IN NEW TECHNOLOGY
Investing in and using the right technology can contribute to the growth of your business. Technology allows you to market properties better through quality pictures, videos and virtual tours. Social media and other technology-driven platforms will also make it easier for you to communicate with buyers and sellers. Commission advances provide the funding you need to take your real estate business to the next level.
BUSINESS OPERATIONS EXPENSES
Just like everybody else, real estate agents and brokers have regular expenses that they have to pay. These include rental fees, mortgages, staff salaries, utility bills and other overhead costs. Commission advances can go a long way in helping to improve your cash flow, allowing you to cover such expenses. You can also use the money to pay your estimated taxes. This will keep things running smoothly and save you a lot of frustration.
INVEST IN PROPERTY
Most agents and brokers have in-depth knowledge of the real estate markets in which they operate. Whenever there is a great deal on the table, a commission advance can help you take advantage of the investment opportunity. You may also use the money to set up a fitting open house so you can attract more potential buyers. When done properly, investing in property is a great way to put money into your business.
THANK YOU NOTES AND GIFTS
Even as you work hard to attract new clients, you should not forget your past clients. Building and maintaining strong relationships with your clients will help to keep you in business. A great way to ensure you stay on top of their minds is to send them thank you gifts. Consider using your commission advance to send out thank you cards to your clients during the holidays or once a sale or purchase has been completed.
Investing in yourself enables you to offer more value to your clients. Real estate agents who are continuously learning and improving are likely to stay ahead of the competition. To ensure you keep up with the ever-changing industry, consider using commission advances to pursue education, pay industry and local association fees, and attend networking events. This will help you learn more about the sector and make you a better agent or broker.
COVER EMERGENCY EXPENSES
There is no telling when an emergency will occur. However, certain events can have a huge impact on your business and personal life. Depending on the situation, you can use your commission advance to respond to an emergency and set things right. By accessing your pending commissions, you will have the money required to cover the associated expenses.
When it comes to commission advances, you should always work with a trustworthy company. Commission Express is a reliable partner that will help you turn your pending commissions into cash. With our fast and simple online application process, you can get your commission advance from anywhere. Contact us today for more details.