Real estate commission tracking software automates the process of calculating and disbursing real estate agent payouts, collecting sales data, applying predefined rules to calculate commissions, reporting the result and facilitating payments through seamless integration with accounting software. Real estate commission management solutions may come either as standalone systems or integrated modules into wider back office or CRM applications; cloud-based solutions offer greater scalability, ease of use and remote access while on-premises software gives greater control over data storage.
Commission Management Features
Commission management is an essential element of real estate brokerage financial operations, used to ensure agents are paid in accordance with their agreements, while keeping an eye on line item accuracy and compliance for both accrual and cash accounting methods. With a commission management system in place, real estate firms can streamline both commission calculation and payment while simultaneously increasing team productivity.
BrokerMint is a real estate transaction management solution with commission tracking as one of its core features. Users can customize commission structures based on performance or team splits/tiers/caps as well as different methods of calculation like flat fees/progressive splits/varying percentages etc. Additionally, BrokerMint supports complex commission structures through automated calculations while still offering real-time monitoring through an easy-to-read dashboard of both paid and unpaid commissions in real-time.
RealtyZam is an intuitive real estate commission management solution with an easy interface designed for agents and brokers. It can handle a range of commission structures and support multiple agents/brokerages simultaneously, while enabling users to manage their pipeline, submit transactions to the system, view forecasted earnings forecasted earnings forecasting capabilities as well as an efficient approval workflow that increases accountability, accuracy and ensures compliance with tax regulations.
LeasCom is a commission tracking and accounting system designed for commercial real estate companies. This system can track deals from prospecting through closing, as well as both incoming and outgoing commissions. Users of LeasCom can create lease records containing information like property address, tenant/landlord details, space dimensions, pertinent dates, comments from lease agreements as well as expiration dates/sales performance monitoring of properties.
Brokerage managers need to integrate all their tech tools, such as commission management and accounting, into one platform in order to run their business efficiently. A unified back-office solution helps eliminate siloed data while preventing duplicate entries and increasing accuracy, automate journal entries, reduce manual processes time spent manually while meeting regulatory guidelines more easily.
Loft47 is a real estate commission tracking and payment system designed to streamline back office processes for users. The system can accommodate various commission structures, such as tiered and split commissions, calculate fees such as home warranties or charitable donations and automatically sync commission data with accounting software, eliminating manual data entry while eliminating errors altogether. Real-time dashboards enable users to easily keep an eye on pending and paid commissions as well as year-to-date production production with just a glance.