With real estate commission calculations and payments a key part of every deal, brokers need a reliable system in place to ensure accuracy. This is particularly essential with multi-tiered commission structures where small mistakes could cause agents to feel mistreated or delay payouts. By automating commission management systems brokerages can streamline this process and free up time that could otherwise be spent growing their business and supporting their team members.
BrokerSumo is an accounting and commission tracking solution tailored specifically for real estate brokers. The software automates commission calculation to ensure agents receive their commissions on time; supports multiple tiered structures including splits; provides management reports such as payable/receivable status, sales volume tracking, agent performance metrics, property/vacancy projections etc; as well as provides numerous management reports such as payable/receivable balances payable and receivable and more.
Commissions can be an intricate part of real estate transactions, leaving plenty of room for human error in processing them manually. A small mistake in calculation could have disastrous repercussions – resulting in inaccurate agent payouts and straining relationships with agents. By using commission software instead, brokers can ensure their teams receive payment on time and fully.
QCommission is one of the premier commission calculator software solutions on the market, featuring automated calculations and simplified accounting processes. Furthermore, QCommission features an approval workflow, making it simple for you to review and approve commissions prior to payment out. Furthermore, its real-time tracking feature lets you keep tabs on pending and approved commissions at a glance.
Loft47 provides another useful solution for calculating commissions by automating this process and supporting complex structures like tiered and split commissions. Plus, this software integrates seamlessly with accounting programs to reduce errors while making it simple for agents to submit transactions on its platform.
Realtyzam is a comprehensive accounting and commission-tracking solution with an intuitive user interface and multiple features to assist agents in staying organized. The software supports multiple commission tiers for different commission structures as well as being compatible with both CRM and MLS systems – and can even track prepaid commissions and mortgage deductions!
Realtyzam’s solution goes far beyond commission management; it also oversees escrow and tenant services, lease administration and real estate investment accounting – as well as overseeing the complete real estate transaction from start to finish, with one central dashboard housing all aspects of any deal. Accounting reports include cash receipts, aged receivables and landlord invoices and statements as well as agent statements and commission checks for real estate agents. Furthermore, it offers an inventory management module that helps real estate agents stay on top of their listings with automatic updates to the database allowing a seamless transition between listing management and commission payments for agents. It can also monitor escrow deposits or fees to make sure agents receive their money on time.