Tongo Announces Preferred Rates for Agents Affiliated with Anywhere

Agents can now draw up to 75% of a pending commission up to 60 days early with Tongo’s innovative commission advance

NEW YORK--(BUSINESS WIRE)--Tongo, a company that builds financial products that finally meet the needs of the commission economy, today announced that it will offer preferred rates on services for real estate agents affiliated with brokerages owned or franchised by a brand of Anywhere Real Estate Inc. (“Anywhere”), a global leader in residential real estate services. The offer provides real estate agents with access to Tongo’s innovative commission advance, allowing them to draw up to 75% of a pending commission up to 60 days early.

Tongo provides industry-leading rates as low as 3% for 30 days. This financial service allows agents to continue investing in their businesses and helps them stabilize their cash flow.

“We’re excited to offer this impactful solution to Anywhere-affiliated agents, offering them a new option to promote financial stability,” said Brandon Wright, CEO and founder of Tongo. “With approximately 1.5 million residential real estate agents in the U.S., there are still very few solutions addressing their financial needs. Tongo was created to fill that gap and offer agents a path to stabilize their cash flow and ultimately position themselves and their business for growth.”

Agents can add pending deals in Tongo to open their available balance. The available balance can be accessed as needed by instantly transferring funds to a linked bank account or by swiping the Tongo card. Agents can access the amount they need and only repay Tongo when they get paid. If a deal falls through, agents can repay when their next deal closes.

ABOUT TONGO

Tongo builds financial products that meet the needs of the commission economy. The traditional banking system was designed for salaried workers, while commission-based workers are a massive, underserved, and growing segment of the US workforce. Tongo believes everyone deserves access to convenient and tailored financial solutions to help them thrive professionally and personally.