Real estate agents benefit from commission advances in many ways. Some of those ways are strictly about business and some are more personal. When you have a clear view of the reasons for taking a commission advance, you can plan ahead with confidence and enjoy the rewards of success.
Business Reasons for Taking Commission Advances
The secret of long-term business success never changes:
- Set your goals.
- Focus on your goals.
- Measure your progress.
- Adapt to changing circumstances.
- Never run out of spendable cash.
The Overall Benefit
You may be new to the business or a well-established real estate expert, as long as you “set, focus, measure, and adapt” you are on the right road. One thing many Realtors worry about is what they cannot control – and that is where ‘spendable cash’ comes in. With commission advances making the most of opportunities and the immediate need to pay a bill are now in your control. Control brings peace of mind, confidence, and motivation.
Having control is the all-encompassing benefit every real estate professional desires and needs. Let us take a look at the specifics of getting and keeping control.
Marketing Your Brand to Bring in New Business
Too many real estate professionals experience what the industry calls “feast and famine.” They are often so busy they have to focus on current prospects and clients. Then they hit the famine part because their sales funnel is empty, so cannot afford to attract new prospects and clients.
The major benefit of commission advances in this scenario is you keep control. You can plan your marketing, set it on autopilot, monitor it, respond to new inquiries, and keep on enjoying the feast. It takes less time to respond to inquiries because your marketing is always ongoing than it does to go out and look for prospects, or to sit at the up desk doing floor time. Because you have the time to set, focus, measure, and adapt you will spend that time on marketing momentum so it really builds.
Cash Infusions and Cost Efficiencies
Planning commission payments can be difficult. Closings and final settlements get delayed, usually for reasons beyond your control. Sometimes a closing is just a long way off, so it will be on time but way out in the future. Selling that future commission for a commission advance means that delays become inconveniences and not roadblocks.
Having cash available when you want it means you can delegate specific actions to other specialists. You may just want some admin support or a telesales specialist for a while. You may want professional-looking videos or high-quality brochures for your new listings. They take time to do well. If you were to spend that time doing them yourself, it would be very time-consuming. They may still look like you the Realtor did them, and not a video or graphic design specialist.
We all know that FSBOs make less walk-away money than they would if they hired a Realtor. The same goes for marketing materials. By hiring professionals when you need to, you save time and get higher quality results. Those results then get you more inquiries, more sales, and more closings.
Personal Reasons for Taking Commission Advances
Successful professionals are also humans, and humans love to surprise their loved ones, treat themselves to something special, and say thank you to people who have earned a reward for helping that success. Occasionally there is an unexpected bill to pay. The car breaks down, the roof springs a leak, whatever. What matters is that, without much thought, you can put your hand in your pocket and surprise or reward those you want to, treat yourself because you deserve it, or just settle the bill.
The Takeaway
Commission advances bring benefits to you the real estate professional and to you the human being. To learn more about how straightforward it is to get commission advances, and to stay in control, all you need to do is click here, leave a message, or call our national office on (888) 560 5501 and speak with one of our professionals.
