Property Agent Commission Advance: Common Misconceptions

Successful agents do not need to advance their commission

  • “If I’m making enough, I don’t see why I should advance my commission.” Everyone handles money differently – you could be earning big money but might find staying on top of your finances a struggle.
  • Everyone handles and manages money differently. Some are more confident about money; others find staying on top of money a struggle.
  • Taking an advance helps to boost your cash flow and you can invest straight away and start compounding
  • Flexible digital financing products that can help all self-employed people fill cash flow gaps.
  • It can motivate you.
  • Reduce stress and affords greater financial flexibility

This is a loan

  • We are not a loan – no interest fees
  • It is money you have already earned, taking it out early can help you manage your business cashflow and accounts.
  • We often get asked how much the interest is, and if commissions get delayed, will they be charged more
  • Solve short term needs, free time, and take advantage of opportunities to invest in their growth and success

Affects my credit score

  • It does not affect your credit score unlike a loan or credit card advance. This is because this is income you have already earned.

It’s expensive

  • No it’s not, it’s cheaper than taking a cash advance or loan.
  • Typically, a credit card cash advance incurs an average of 25% in APR (Annual Percentage Rate) interest per year. There’s also a transaction fee and a withdrawal fee. Payday loans are faster but also incur high interest rates, which mean that you would have to fork out even more.
  • Helps you manage volatility, maintains consistent pipeline
  • Won’t need to dig into savings or take a warm loan
  • Don’t need to take on side hustles to offset expenses

If the deal falls through, I must pay my commission back

  • Nope! This is one of the perks of using LytePay.
  • LytePay’s algorithm is so complex, we cover the risk of events like these. You will not be able to cash out the full amount of your commission. The balance you can cash out is determined by our algorithm and this will not be the full commission amount.
  • Your details are secure and confidential with LytePay.

It damages my reputation – if colleagues/clients know

  • Does not harm your confidence
  • It would in a sense democratize the practice of providing retainers or other forms of upfront compensation that are already well-established for certain professionals, such as lawyers have.
  • There is no normal when it comes to managing one’s finances. Some people are careful planners and have a wealth of ready cash, others enjoy investing earnings back into the business.
  • It is important to understand the factors driving money decisions you make for your business as a property agent. If you feel secure, you are making the right money decisions for yourself.

Getting a commission advance is not a smart financial decision

  • Similar to how a credit card or taking a loan for a car/house does not affect your reputation, financial tools like LytePay are there to enable us to make more efficient decisions in a wise manner.
  • Super easy, does not take up much admin time
  • No business should fail for lack of time, insight, or access to finance

It takes too long to set up

  • Creating an account with LytePay is fast and safe. You don’t need to process anything differently.


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