Yes! Congrats on your deal! You can get an advance on your commission.
Zolo provides commission advances via third party companies. Here's the process:
- To be eligible, the deal must be firm with all deal paperwork completed and updated in both Skyslope and the Zolo CRM.
- Email realtor.support@zolo.ca to let us know you'd like an advance and we'll coordinate with our Deals team to get the TRS as soon as possible.
- Once we process the deal and send you the TRS for the deal, you can apply for a partial commission advance on that deal through a commission advance company. A few of the commission advance companies our agents have used are Agent's Equity, Capital Growth, Real Commission Advance, etc.
- If the commission advance company approves the application, it will transfer the funds to you and send us an invoice.
- When the transaction closes, we will disburse the funds appropriately - pay the advanced amount back to the commission advance company and transfer the remaining commission to your account.
Remember that most companies charge interest and/or fees if they do not receive the repayment on time and it is the agent's responsibility to provide all parties with any updates on the deal, e.g. if there is an amendment to the closing date, the deal falls through, etc.
Are you interested in knowing how you normally get paid? Read more.