Real estate agents and brokers anywhere in the United States can now access financing on their pending real estate commissions through Accel Real Estate Commission Advance ("Accel"). Accel was created by Balanced Bridge Funding to help service real estate professionals around the country. "As a company familiar with assisting entities and individuals with guaranteed income but facing payment delays, being able to provide real estate commission advances is a natural step for us to help real estate agents and brokers who are interested in financing" says Joseph Genovesi.
Traditionally springtime is when the real estate industry starts to pick up. Schools are coming to a close and families begin to scout locations to move their families. Families or individuals with houses look to sell their properties for similar reasons. Real estate professionals have to be ready for the wave of interested buyers and sellers during the spring season and prepare for them.
Currently, the real estate market is on fire throughout the country. Low interest rates, the negative effect of Covid on the supply chain for developers and home builders, all cash offers have fueled the market raising the prices on the current stock of homes. A hot real estate market means the competition is fierce among real estate agents and brokers. They are competing for listings in their markets and they may need to have the financial backing or have access to financing to try and dominate their area. Some news outlets published stories about the constant activity of the Delaware real estate market in 2021. Last month, the Philadelphia Inquirer published a story about the lack of supply in the housing market and how that has affected housing sales. The Federal Reserve indicated they will raise interest rates which may help cool the real estate market.
According to the recent Pennsylvania Association of Realtors (PAR) report, general housing sales have decreased but the median home price has increased. In addition, the past few reports showed sales of houses priced between $250,000 to $2 million and more have increased from the previous year. The Delaware Association of Realtors (DAR) report for February 2022 showed similar statistics. The number of units sold dropped by 66%, but the average and median priced homes increased by 12% and 13%, respectively. Listings have increased and the average amount of time a home is on the market also increased. Inventory dropped over 10%.
Accel's real estate commission advance allows agents and brokers to access a portion of their pending fees. They can use these funds to increase spending on marketing their properties; get more listings, hire more agents; expand their offices for the spring and summer selling season. They can also use it for a variety of personal or professional purposes. Accel is also creating an exclusive membership program for qualified real estate agents and brokers.
This program will allow them to provide member agents and brokers with the unique opportunity to quickly and conveniently increase their cash flow and grow their real estate businesses. Members will enjoy exclusive benefits for funding including:
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Priority processing of applications
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45 Day Grace Period
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10% Fee on advances 31+ days or more
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Paid referrals for new colleagues that work with Accel Real Estate Commission Advance
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No broker signature required to fund advances