Website/Online Presence:
Using a portion of your future commissions to redesign your website is extremely beneficial. Many websites that were built years ago are in need of updating or optimization for mobile users.
More and more consumers are using mobile devices when searching for homes or real estate agents which means having a mobile friendly website is more important than ever.
Marketing Materials:
Promotional material has long been one of the most effective ways for agents to increase their presence in a given community. Everything from notepads, magnets, and even portable charging blocks can be branded so people in your area will start to know who you are. By printing material and distributing useful household items with your name and contact info, you can increase the likelihood that when someone is ready to buy or sell a home that your name will be on their minds.
Further Your Education:
There are many expenses associated with obtaining and maintaining your real estate license. Most states generally require around 20 hours of continuous real estate classes/education. Once you’ve passed your real estate pre-licensing courses it’s on to the state licensing exam. The cost of the exam itself, and other costs associated with this test, will vary from state to state. After you pass your exam, you will be required to take real estate continuing education courses to keep your real estate license moving forward. But your education doesn’t stop there. Real estate agents can attend speaking engagements, lectures, and other educational events to keep up with the ever-changing industry.
Attend Networking Events:
Networking is important in the real estate industry, and these events offer a chance at more than just networking. A real estate event is an opportunity to present our professional persona to our peers, create friendships, increase our knowledge, and so much more. These events are not always cheap, so utilizing a commission advance to pay for your spot at one can be extremely beneficial.
Payroll:
Many of our repeat customers like to utilize commission advances to help make payroll for their growing team of agents. Sometimes payment of commission checks can be delayed, but paying your employees cannot wait. Concord can help make sure your team remains committed, financially secured, and most importantly, loyal.
Emergencies:
No matter how ready you are for any circumstance, there are often unforeseen situations that arise. From broken bones to emergency home repairs, sometimes a real estate commission advance is necessary to get things right. Concord aims to make emergency situations less stressful by providing access to funds as soon as contracts are signed. Don’t let sudden financial needs loom over your head, let Concord be the solution when issues come about.
Client Thank You’s:
Sending out personalized thank you cards or small items as gifts can be a thoughtful way to keep you in the minds of customers for when they eventually have real estate needs. While the idea of providing a gift to a past client is nice, it’s important to remember that timing is important. These thank you gifts are best suited to be sent out after the New Year or once a certain amount of time has passed since the sale has closed.
Invest In Property:
A great realtor knows their market, so they usually know a good property when it’s in front of them. Whether you decide to rent the space, renovate and flip, or simply purchase a great home for yourself and your family, investing in real estate is a safe and sensible decision. Having the option to access your commission as soon as possible can help agents get in on an investment opportunity that would otherwise have to be passed on.
Tax Payments:
More often than not, real estate agents are independent contractors who are not subject to tax withholding, and agents are still required to pay estimated taxes to the IRS. These must be paid multiple times a year and are used to pay both income taxes and self-employment taxes that cover programs such as Social Security and Medicare. You can use your commission advance to pay your quarterly estimated taxes, and the best part is, any fees associated with your commission advance most likely will be tax deductible!