Hyyve is partnering with iCommission to offer Realtors early access to commissions, the Toronto-based platform says. The collaboration allows agents to access portions of their future commission once a listing agreement is signed and the property is listed on MLS, according to a press release from the company.
How it works
Under the terms of the partnership, iCommission becomes the exclusive commission financing provider within the Hyyve ecosystem. However, Hyyve CEO Patrick Armstrong emphasizes that agents remain free to use other financing options or opt not to finance commissions at all. Armstrong described the arrangement as a value-added, cost-effective option designed to give agents more bidding power within the platform.
Through Hyyve, Realtors can bid on listings, submitting proposals directly to sellers that can include marketing strategies, client reviews and performance data. Agents pay upfront for the right to list a property, and homeowners keep the cash even if the property doesn’t sell.
Chris Jia, president of iCommission, details how the commission advance process works. For agents who have signed a listing agreement and listed the property on MLS “iCommission will approve $1,000 to $5,000 quick advance based on agents past production history,” Jia explains over email, noting it is subject to brokerage and policy approval.
What does it cost?
For active listings, the fees associated with advances range from $0.70 to $0.80 per thousand per day, depending on agent qualifications.
Jia says there are no administrative fees or holdbacks but warns that if a listed property does not sell, the advanced funds become their personal liability.
Once a sale is firm with all conditions waived, agents have access to larger advances—up to 90 per cent of their net commission. The fees for these advances range between $0.60 and $0.75 per thousand per day. iCommission extends these advances across residential, preconstruction, and commercial transactions.
“Our mission is to empower agents with the tools they need to succeed,” Armstrong says. “By facilitating immediate access to commission earnings, we’re enabling Realtors to invest confidently in their operations and future growth.”