In recognising the critical role estate agents play in the property business, national mortgage origination company Bond Choice has instituted a specially-designed swift payment system that negates the guesswork on when commissions will be paid.
QuickComm is a specialised information technology system developed in-house that eliminates the paperwork for estates agents. The self-invoicing system automatically pays out agents’ commissions within two days of Bond Choice receiving notification of the bond registration.
Payment notification is then sent via either SMS or email to the agents.
Typically agents receive their commissions after invoicing for each deal and only once the mortgage originator has been paid by the successful financing institution.
“Gone is the guesswork and the paperwork; the repeated invoicing after each deal and the time-consuming follow-ups when commission payments are delayed or waylaid in the system. Bond Choice recognises that commission payments are critical to estate agents and this system provides the best solution in terms of meeting market requirements,” Bond Choice’s sales MD, Kevin Mountjoy, says.
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