NexGen Commissions FAQ
Fill out the secure 100% online application from your computer or mobile phone. Once the application is complete, a NexGen account manager will review and let you know when your application is approved. A copy of the application will be sent to you and your broker for signature via DocuSign. An account manager will contact you if they have any questions or if there are any items missing.
Please have the following details ready, prior to filling out the application
-
- Property Address
- Agent requesting advance, name and contact information
- MLS Number of the property that is closing
- Closing Date
- Total Net Amount of Commission (After Splits)
- Total Amount of Advance Request (Up to 85% of Net Amount after splits – $1,500 – $25,000 dollars)
- Sponsoring Broker Name and Contact information
- Title Company Name, Escrow Agent contact information
- Bank Account and Routing numbers in order to wire funds
The money is wired to your bank account once your application is approved and signed by your broker.
Your advance can be tax deductible if used for approved business expenses. Please consult with your CPA on what expenses you can write off.
Your Advance will be wired to your bank the same day unless approved after the wire cut off times.
Monday-Friday – Cut off times in order to receive same-day advance ends at 4:00 pm Central Standard Time.
At NexGen Commissions, we understand that not every sale closes 100% of the time. If the sale does not close, you can simply replace the advance using commissions on a future sale.
At NexGen Commissions, we understand that closings can sometimes be delayed. That’s why we offer a 10 day grace period, after your scheduled closing date, in order for the advance to be paid.
Currently, NexGen will only advance on pending sales that are under contract. However, please contact us if you have an active listing that you are currently negotiating offers.
Up to 85% of your total net earned commission, after splits. Some restrictions may apply.
At NexGen Commissions, we understand that real estate sometimes feels like a roller coaster with all the ups and downs. Whether you’re new to the business or a seasoned agent, we are here to help with cash flow by providing a solution for you to receive your hard-earned commission, prior to closing.
$1,500 – $25,000. Fees range, on average, as low as 0% – 17% depending on the amount of time it takes for the sale to close. Please visit the example chart on the services page.
NexGen is paid by the Title Company once closing occurs. The Title Company will receive a CDA (Commission Disbursement Authorization) from your broker which will list the fee due to NexGen to be included on the closing statement.
- No, the broker does not benefit.
- Don’t Be The Bank – Agents having access to cash flow allows brokers to concentrate on growing their business and finding ways to source new deals. Broker does need to tie up their capital. NexGen is here to help.
- Helps brokers GROW their business. – NexGen can help brokers grow their business by providing a cash flow service to help recruit and keep agents.
- Broker has control – NexGen Commission Advances are only approved once the broker signs off.
- Brokers do not get charged – NexGen Commission only advances after splits, on the agent’s net earned commissions.
Please see our Affiliate Program page. One of the many benefits of agents using NexGen is the opportunity to become an affiliate. At NexGen, we strive every day to help agents with their cash flow concerns. Once you are an approved affiliate, all you have to do is introduce 3 new agents that use NexGen for their commission advance. Once these agents have used NexGen, your next NexGen Commission advance is FREE. The affiliate program is only being offered to the first 3,000 agents that sign up, so don’t delay. Please see our Affiliate Page or call with more details. Some restrictions may apply.