5 Best Real Estate Accounting Software For Brokers And Agents

As a broker or a real estate agent, your first priority is to help your prospects find their desired property. Isn’t it? But if you take a close look at daily work activities, you may find that you spend a great chunk of your time in just accounting and reporting.

Don’t get me wrong. Calculating and tracking commissions are important. Doesn’t commissions spice up the game? But accounting is a repetitive task and the less you spend your time on it, the more time you can devote to doing the work that brings commission in the first place.

Fortunately, there are many real estate accounting software for brokers and agents like you to shoulder your burden and free off your time. Here are the X best real estate accounting software: -

1. Quickbooks

Best for medium-sized real estate businesses

Quickbooks is an ideal solution for all types of businesses, including real estate, if you are willing to spend some money. If you are a one-man army or a medium-sized group of real estate agents, Quickbooks has got you covered.

Due to a premium service, it also charges you a bit higher. Its plan starts from $25 for a single user and goes up to $90 per month for up to 25 users. However, as I write they are also offering a 50% discount on each of its plans.

Pros: -

1. Flexible
2. Easy to use
3. Payroll functionality is there
4. Track mileage automatically using its mobile app

Cons: -

1. Expensive
2. Limited tax support

2. Freshbooks

Best accounting software for single real estate agents and small brokerages

Freshbooks is no-nonsense accounting software that is extremely easy to use. It enables you to apply core measures of real estate businesses and also allows you to add custom fields that you would like to track.

The plans of Freshbooks start from $15 per month for 5 billable clients. However, you can upgrade as per your requirements. Currently, it is offering a 70% discount for the first three months of whichever plan you opt for.

Pros: -

1. Easy setup
2. Automation and integrations
3. Good customer support
4. Mileage tracking

Cons: -

1. Lacks native payroll options
2. Limited reporting in mobile apps

3. Xero

Overall the best accounting software

Xero not only is a powerful tool but also simple to use for anyone. Neither the size of your real estate agency nor which sector you focus on — residential or commercial — matters. Xero is an ideal real estate accounting software that helps you with accounting, regulations, expenses, taxes, and much more.

Xero also offers flexibility and scalability with its 700+ integration options! Its pricing range from $12 to $65 per month depending upon which plan you choose.

Pros: -

1. Affordable
2. Good for a single agent as well as a team
3. Smooth contract management
4. Great navigation

Cons: -

1. Dependency on third-party apps for some important features
2. Needs to provide better customer support

4. Wave

Best accounting software for start-ups

Wave is absolutely free accounting software for all to use, forever! However, it also offers limited features due to that. Nonetheless, small real estate businesses can start with Wave which is still a powerful accounting tool.

Wave also offers a payroll service for which it charges nominal fees. Thus if you have limited financial resources, Wave is the one you should consider.

Pros: -

1. Track expense without any limits
2. Free
3. Easy setup and navigation process
4. Workflow automation is good

Cons: -

1. Limited features
2. Poor customer support

5. Realtyzam

Specifically designed for real estate agents

Unlike others on the list, Realtyzam is specifically made to help real estate businesses and thus, designed in such a way to suit your needs. However, it is ideal for real estate groups of small size and agents who handle business single-handedly.

Realtyzam can be used for all brokerage purposes except for the payroll of W-2 employees because there is neither a built-in function nor any integration option for that. Realtyzam has easily affordable. It has a free plan and the paid plan starts from $9.95 per month when paid annually.

Pros: -

1. Simple setup
2. Affordable
3. Track commission automatically

Cons: -

1. Limited reports
2. Doesn’t have an automated mileage tracking option

Conclusion

These were some of the best accounting software you can use for your real estate business. So which one are you going to pick?

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