Commission-based jobs can be incredibly stressful, while also being very rewarding at the same time. The main benefits of working on commission or for yourself are the flexible schedules, the possibility of an early retirement, and the potential to earn a healthy income.
However, there are disadvantages to commission-based work, primarily with respect to the investment of time and, in some cases, investment of money that’s needed to see any high income return. Additionally, a commission-based job means that you are paid a percentage of the sales that you make — only after you make these sales. This lack of a regular salary can create an environment that’s ripe for anxiety.
One of the most stress-inducing commission-based sectors is real estate. Independent realtors face a variety of pressures associated with launching and keeping a successful real estate enterprise running.
Today’s realtors are also faced with a new set of issues that realtors of the past never experienced. Most recently, the rise of web-based and app-based real estate tools. These apps and services promote private sale real estate transactions, instead of the traditional real estate agent facilitated transactions that realtors depend on.
An influx of real estate agents to the market over the last five years is also adding to the pressure on real estate agents. In 2014, the Financial Post reported the number of Canadian realtors reached 108,706 during the first quarter of the year. That was the equivalent of one realtor for every 245 Canadians over the age of 19.
This heavy market saturation leads to fewer sales per agent, resulting in lost revenue and greater time duration between sales. Regardless of commission checks or not, realtors face the same monthly personal expenses as everyone else and often require numerous business based financial expenditures. In order to help real estate agents across Canada cope between commission payments, AccessEasyFunds was established, and today is Canada’s leading eal estate commission advance service provider.
Paying commission advances to realtors provides them the freedom and peace of mind to focus on selling real estate rather than finding revenue.
Over the years, AccessEasyFunds has also begun to look at other commissioned-based markets in the real estate sector to see if we could offer the same sort of services. We have received over the many years that we have serviced real estate agents, many inquiries from mortgage agents and brokers?
Having long been approached by independent mortgage brokers and agents, who have also recently faced an influx of competition, AccessEasyFunds is proactively looking at extending its platform to service mortgage agents.
Commissions earned by mortgage brokers are often more nuanced than real estate agents. Mortgage brokers not only arrange financing for a borrower, they also facilitate mortgage refinancing of existing mortgages.
This two-fold income strategy can lead to fantastic revenues. However, it can also delay commission payouts, leaving mortgage brokers and agents in the same precarious position as realtors.
I, Larry Weltman, in conjunction with the team at AccessEasyFunds, are actively setting up our platform to begin working with Ontario-based residential mortgage agents and brokers to facilitate commission advances..