Does Your Accounting and Commission System Help You to Retain Agents and Recruit New Agents?

There is a salesperson in the heart of every great real estate agent. They track their income year to date, look at their sales pipeline, and forecast sales and commission goals. For the most part, brokers who use many of the popular accounting systems do not offer a portal that allows agents to log in and see their performance. Newer technology systems for brokerage accounting are focused on giving agents actionable access to their financial performance.

"Knowing your numbers" is at the core of every successful business plan execution. It's not about the plan, but the real numbers and the day-to-day changes that impact sales and profits.

What are the steps to make it easy?

We took a look at Brokersumo, a popular accounting solution for small to midsized brokerage firms. Its reporting function gives both you and your agents direct access to the pipeline of data, close rates, where the bulk of income is generated, and volume to date. Agents will be able to focus on where their best opportunities are, and you'll be able to quickly identify top performers. You'll get deeper insights to your agents and methods to incentivize them.

Brokersumo is popular because it connects to Quickbooks for the bulk of your general ledger work, but it adds a necessary and flexible real estate commission module that Quickbooks does not have. This software even allows you to generate commission reports and pay them electronically. The system also supports agent billing by credit card. If you charge a technology, marketing, or desk fee, Brokersumo will manage the billing and post it into Quickbooks for you.

Agent retention and recruiting are keynotes to success in the brokerage business. Leading real estate consultant Victor Lund of WAV Group says that "Brokers who are laser focused on providing sales and commission data to agents on demand through agent financial portals like Brokersumo are hitting the high mark in agent satisfaction. It deepens the relationship between the broker and agent and adds that extra bit of differentiation that allows brokers to outpace competitors who are still doing it the old way on a spreadsheet or monthly report."

Visit Brokersumo's website at brokersumo.com to set up a personalized demo.