keeping accurate and current commission data has required spreadsheets and manual calculations, and even the largest agencies with IT staff and full-time accounting support struggle to keep agents happy. Small, independent brokers and real estate teams have been at a competitive disadvantage for attracting and keeping top talent until the launch of BrokerSumo last October.
BrokerSumo’s integrated platform avoids double entry and minimizes errors from manually re-entering information. BrokerSumo integrates with like dot loop, SkySlope, and accounting software like QuickBooks, allowing brokers and agents who use these programs to sync their transaction data seamlessly. It even takes care of the details, like managing escrow accounts, paying commissions electronically and onboarding new agents. No longer do brokers and agents need to struggle with programs that don’t work together, manually re-enter data, or pay for software they don’t know how to us.
Custom Commission Plans Track Productivity and Pay Agents
By managing commissions selectively, small brokerages and teams using BrokerSumo can analyze the productivity of agents and brokers and motivate them individually. Productivity can vary greatly. Last year, for example, less than 20 percent of all Realtors produced more than $5 million in annual sales each while 28 percent of all Realtors delivered sales totaling $500,000 or less last year.
BrokerSumo creates custom commission plans for every agent and automatically calculates the agent’s commission split for each transaction It tracks all credits and debits, charging agents credit cards for their monthly fees directly from the system. In addition to tracking agent and office sales performance from transaction data, BrokerSumo can also track agents’ personnel records and store all of their critical documents such as their real estate license, insurance card, and driver’s license. Agent billing invoices and payments sync automatically every time an invoice is sent.
“I can monitor agent productivity every day. BrokerSumo makes it so easy to get a snapshot of how people,” says Paul Knighton, President and Managing Broker of MORE Realty in Portland, OR. A BrokerSumor customer since February, Knighton is impressed by the platform’s simplicity. “It’s like a plug-and-play applications.’
Tailored for Mezzanine and Independent Brokers
No other tool is designed specifically to manage and compensate real estate professionals based on their models, which makes BrokerSumo a perfect answer for mezzanine and large independent brokers that want to save money on back office personnel costs. Luis Gonzalez, Employing Broker, and Principal Broker at Brokers’ Guild in Colorado Springs, Colorado’s premier independent real estate brokerage firm with more than 900 brokers and agents, found the “old school” alternative of manual bookkeeping and spreadsheets too expensive.
“In the Denver market alone we are doing 300 closings a month. BrokerSumo is so simple to use and to navigate that we can track income, commissions, and expenses on a year to date basis and monitor the effectiveness of agents every day,” said Gonzalez.
BrokerSumo not only relieves the back-office burden for brokerages and teams, but it also shows them how to become more successful by tracking performance and profitability. It is a powerful, affordable and easy-to-use set of tools designed to give independent real estate brokerages and agent teams exactly what they need.
“BrokerSumo saves users tens of thousands of dollars every year in time saved and accuracy, but it is paying off in other ways. It makes smaller, independent agencies more attractive to top-selling agents by providing them back-office support that is equal or superior to the largest brokerages. Equally important, it tracks agent performance with profitability to identify opportunities that maximize commissions and reward achievers,” said Jeremy Shoenig, founder of BrokerSumo.
BrokerSumo is a back office, commission management and accounting solution for real estate brokerages and agent teams. It enables brokers to manage their agent’s information, track transactions and commission dollars, automatically calculate commission splits, create commission disbursements, bill agents for monthly fees, pay agents their commissions electronically, report on agent and office performance and sync financial data to QuickBooks.
For Media Inquiries:
 NAR Member Profile, 2015 and 2017. https://www.nar.realtor/sites/default/files/reports/2017/2017-member-profile-highlights-05-11-2017.pdf