Agents agree to sell their future, pending commission, for a fee. Agents can sell all or part of a pending commission. The application to funding process can take as little as 24 hours. No credit check required. Supporting documents are required from the agent to verify the purchase and the agents work history.At closing, the funds will be disbursed to the brokerage and Utah Commission Advance (according to our contractual agreement).
Brokers will never be liable for failed transactions or the risk of loss from an agent who never completes another transaction. Utah Commission Advance will not purchase pending commissions for more than is due to the real estate agent after the brokerage split.
Example:
Pending commission due to agent (after brokerage fee): $5,000
Utah Commission Advance Fee: $500
Agent Receives: $4,500
$’s Sent to Utah Commission Advance at closing: $5,000