General Questions
1. What is Commission Flow?
Commission Flow gives real estate agents early access to their future commissions before closings occur, helping manage cash flow or fund immediate needs.
2. How does a commission advance work?
A commission advance allows you to receive a portion of your pending real estate commission before the deal closes. Once the transaction is complete, the advance is repaid directly from your commission.
3. Is Commission Flow a loan?
No, a commission advance is not a loan. It is a cash advance based on your pending real estate transaction, with no impact on your credit score.
Eligibility
4. Who is eligible for a commission advance?
To qualify for Commission Flow, you must:
• Be a licensed real estate agent.
• Have been with a participating brokerage for at least one year.
• Have at least two pending transactions under contract.
5. Do I need to have good credit to qualify?
No, your credit score is not a determining factor. Approval is based on the strength of your pending transactions, your past 12-month production stats, and the completion of your previous Flow applications.
Application Process
6. How do I apply for a commission advance?
You can apply online by clicking "Empower Business with Flow" button on your agent dashboard.
7. How long does the approval process take?
Approval is often completed within 1 business day.
Fees and Funding
8. What is the fee schedule for Commission Flow?
There are two fees involved:
• $99.00 application fee: Paid at the time of application.
• Flow advance fee: Calculated based on the duration between the application date and the estimated close date of the selected transactions. All fee details will be displayed in the final step of the application process.
9. What is the rough estimate of the Flow advance fee?
The Flow advance fee is dynamic and depends on the time between the application date and the estimated closing date.
• For transactions closing in one week, the fee will be significantly lower.
• For transactions closing in 90 days or more, the fee will be higher.
10. How quickly will I receive the funds?
Once the application is approved, Flow will disburse the funds to the specified bank account within 1 business day.
11. How is the advance repaid?
The brokerage will repay Flow, including all fees, when the selected transactions close.
Flow Extension
12. What is a Flow Extension?
A Flow Extension occurs when the closing date of the transaction used in your commission advance application is extended.
13. What are the costs of a Flow Extension?
A late fee, as specified in the Transaction Memorandum, will be assessed every 10 days until the transaction closes or the advance is repaid.
Other Considerations
14. What happens if the deal falls through?
If the deal falls through, Flow provides options such as transferring the advance to another pending transaction or setting up a repayment plan.
15. Can I get multiple advances at the same time?
Yes, you can combine multiple transactions in one Commission Flow application.