RISMEDIA, May 14, 2009-eCommission, a national provider of commission financing services to real estate sales professionals, has introduced an innovative new program to help agents with their cash flow, the company has announced.
Called Short Sale Advance, the program allows agents to receive a small commission advance on their pending short sales while they wait for the bank’s final written approval.
According to the company, advances of $1,000, $2,000 or $3,000 can be funded initially. Agents pay a monthly extension fee averaging $167 while they wait for the bank’s acceptance of the offer. At that time, they may be eligible to receive a second advance for the balance of their commission. If for any reason the bank declines the offer, agents continue paying the monthly fee until they close their next sale and earn a commission to repay the advance.
“When banks drag their feet approving short sales, it hurts an agent’s cash flow.” explained Sean Whaling, eCommission president. “There are so many short sales in the marketplace right now we have been flooded with requests for advance. This program gives agents an option for maintaining consistent income while they work through bank delays. It has been very popular with our customers.”
For more information, visit www.ecommission.com or call 877-882-4368.