We have worked hard to keep the processing costs down and transparent for you. This means you gain maximum value for each asset finance deal.
For 'Tick and Flick' referrals, the broker will receive 35% commission of the deal upon settlement which will be determined by the Quick AF team.
For full applications, we've implemented a flat rate fee for consumer and commercial transactions, as such the cost for utilising Quick AF is a minimum of $345 plus GST or 30% of the commission will be deducted - whichever is greater.
The amount you earn will be displayed on the platform when you complete a quote.
Regardless if you settle a consumer or commercial asset finance transaction with Quick AF, you would receive the following 'commission to broker' in the below scenarios.
- Commission/brokerage = $1500
- Origination fee = $990
- Total in deal = $2490
- Commission to broker = $1743 (processing fee of $747 applies = 30%)
- Commission/brokerage = $250
- Origination fee = $990
- Total in deal = $1240
- Commission to broker = $860.50 (processing fee of $345 +GST applies = $379.50)
How do I see my commission in Quick AF?
When you calculate a quote in Quick AF, the results displayed will show the amounts you can earn (by lender) for a 'Full Application' transaction.
Please note the amounts displayed are not correct for 'Tick and Flick' and you should not quote a customer if planning to Tick & Flick, as the commission splits are different.
Important: The “Broker Split” amount is what you will earn AFTER the Quick AF processing fee or commission split has been deducted.
You can then customise the Origination Fee and/or the Customer Rate down to a level that is satisfactory to both yourself and your client.
Important: Quick AF will only produce quote results from lenders whose credit policies and guidelines match your client/quote scenario.
Lender quote results are sorted based on lowest repayment for the client.
How and when do I get paid for Quick AF deals?
Commissions are paid once the lender payment has been received by Connective with payment runs processed every Tuesday and Thursday post settlement.
For lenders not on the Connective panel or that pay in monthly arrears, commission payments will be made by the 21st of the following month post settlement.
Do I need to provide a tax invoice for my commission?
No. The Quick AF team will invoice the lender directly for your commission at settlement of the transaction.
You don’t have to do anything from an invoicing perspective.