Why your brokerage is involved
Your commission is paid to your brokerage first, then to you. An advance works because your brokerage agrees to pay the advanced amount to the advance company at closing, before paying you the rest. That is why your broker signs.
At Premier Commission, the advance agreement is signed by you and your brokerage, and we verify the transaction and the commission with your office before funding.
What the broker is agreeing to
In plain terms, your broker confirms:
- The transaction is real and under contract.
- The commission amount on your commission statement is correct.
- At closing, the brokerage will pay Premier Commission the advanced amount from your commission, and pay you the remainder as usual.
Your brokerage does not pay a fee for your advance. The fee is part of your agreement with us.
How payment works at closing
- The deal closes and the commission is paid to your brokerage.
- Your brokerage pays Premier Commission the amount that was advanced.
- Your brokerage pays you the rest of your commission.
If the closing date moves, every advance includes a 14-day grace period after the scheduled closing date at no extra cost.
If your brokerage has an approved-vendor list
Many franchise and large brokerages only work with approved advance companies. Ask your office or commissions manager to contact us, or send them our brokerage page. We give your brokerage what it needs to add Premier Commission.
How to make it fast
- Tell your commissions manager you are applying, so the signature request is expected.
- Have your commission statement signed before you apply.
- Make sure the commission on the statement matches the purchase agreement.