Concord Commission Advance
Concord Commission Advance is a financial services company that caters to the real estate community in the United States. It is a privately held company which was founded in the year 2015. It partners with brokerages in order to offer real estate agents an early payment option on their transactions by buying their pending commission prior to the closing of a real estate transaction, or to payment.
As the company’s name implies, it offers commission advance. This works somewhat similarly to a merchant cash advance, which refers to the purchase of credit card sale receivables of one company by another. The main concern of a real estate agent is earning their commission when he or she has a listing under the agreement and is still not receiving payment until the date of closing of title. The true nature of income of a real estate agent is lumpy, which leaves them unable to forecast cash flow the same way as most other people who have biweekly salaries. Whether it is to advertise the brokerage business of an agent, market a forthcoming listing, or pay many different business costs, an agent overcomes the lack of income’s predictability by using a commission advance company such as CCA to determine when he or she gets paid.