As Independent Contractors operating small independent businesses, the agents and brokers had marketable accounts receivable from earned but unsettled sales commissions. The founders conceived an idea to purchase the accounts receivable at a discount, a process known as factoring. They operated for five years developing the protocols, computer database, forms and reports that were the basis for the current COMMISSION EXPRESS real estate factoring system.
Lowest Cost, Most Flexible Terms
We’ve made advances to other agents at your company / brokerage & we’ve worked with your Escrow Officer and Loan Officer
THE TRANSACTION NEEDS TO BE NON-CONTINGENT; WITH THE FINANCING IN PROCESS AND YOU WILL NEED YOUR BROKER’S APPROVAL
- Completed, executed application documents & copies of the following:
- MLS Pending or UCB
- Earnest Money Receipt
- Current LSU
- Contract & Any Counters
- The pricing is usually a little confusing on the first transaction; what I always suggest is that the customer wait until they have the application documents for their specific transaction in hand & then we can walk through the numbers & the agreement together over the phone… with that said here are the details.
- We advance up to 75% of your commission for transactions with COE within 45 days
- You can assign all or a portion of your commission depending on your needs.
- The fees are determined by the size of your advance & the number of days until scheduled Close of Escrow.
- Rates are 10%, 14% & 18% for 45, 90 & 120 days to COE respectively.
We can usually underwrite, process and fund same day as long as we have the completed application docs and all requested documentation prior to 11 AM
No; we perform a Public Records search which does not impact your credit
With Commission Express, you can create an account and apply for a commission advance in less than 30 minutes. Applications processed in under two days, often the same day!
Being the first commission advance company in the country has its benefits! Decades of industry experience are at your side when you choose Commission Express.