Commission advances often help real estate agents and brokers develop their careers. Middlegate Funding is a commission advance company in New York City, New York. They work with real estate professionals and help them access a reliable cash flow so that they are able to expand their business. Commission advances are important to many real estate professionals.
A commission advance refers to the purchase of an unpaid commission. Real estate agents and brokers are paid on commission, and do not receive their check until a home has been closed on. This can often take several weeks and many real estate professionals are unable to wait that long. These professionals have the option of working with a commission advance company.
These financial institutes purchase the unpaid commission and charge a small fee. This fee is often dependent on when the commission will be paid out. If the real estate professional expects the commission to be paid within 30 days, the fee will most likely be small. The real estate professionals get paid immediately while the financial institute waits for the commission to pay out.
This process helps real estate professionals get paid quickly, which allows them to pay their business expenses and invest more money into their agency or brokerage. The financial institute makes a profit from the fees they charge. Both parties benefit from this transaction. Middlegate Funding provides real estate professionals with commission advances. They have an application process that is quick and simple, and they offer the lowest rates in the industry.