Getting an commission advance from eCommission Financial Services is nice, quick & easy, but very expensive. I’ve shopped around with some of your competitors and I’ve found rates that are much lower than your rates. I understand that you are one of the only commission advance companies that will work with broker-owners and as such, you must charge more for the added risk you take on those borrowers. I’m not a broker-owner and I’ve borrowed from you several times recently, so it would be nice if I got a break on the rates for making timely repayment and for being a good customer. Incredibly too expensive. Called the underwriter and was told she would call back. Never heard from her. I asked for a promo code or discount for frequency but None of them was offered. eCommission Financial Services was eager to take my fee but do not feel important to return my call. Fees are just too high.
One of my agents wanted to utilize this service. Not only he was a shocked that he was going to pay 13.3% just to get commission advance for a few weeks but I was also shocked that as a broker I could not find a FAQ or other information for brokers on their site. I then had a very unpleasant interaction with account manager on live chat, person did not address my questions and rather wanted to just cut and paste canned responses. What amazes me is that if an agent utilizes this service, brokers cannot use their automated 1099 generation as amount of 1099 needs to reflect full amount and not the abbreviated amount actually paid to the agent. If they had some helpful way to help brokers navigate around this in their accounting systems ( quickbooks, etc) it would be smart.