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Comp Talks: Real Estate Agents (Part 1 of 2)
Real estate agents have faced many challenges in the recent past, including the advent of Zillow and online portals, and now the pressure to reduce fees and/or adopt a fee-based compensation model. The investment advisory industry offers great insights into this transition, as it is one that has been adopting a move to fee-based compensation over the past 20 years. Should the real estate industry follow suit?
How Integrating Quickbooks with Your Back Office Can Save You Thousands
If you've been paying attention to the back office tech space, you've probably noticed a lot of talk about Quickbooks integration, especially by solutions that serve small- and mid-sized brokerages. This market segment has been rolling out integrations with not just Quickbooks, but other popular accounting programs like Xero and Waveapp. Why? Well, once integrated, transaction data can move seamlessly between your back office platform and your accounting software. That means automatically cutting commission checks upon the close of a transaction, and never risking missed payments (mandatory for retaining top talent!). Brokers can also create invoices, sales receipts, and generate checks and 1099s. Integrating back office and financial systems can save even small brokers significant cash. Back office solution Brokermint estimates that brokers that close just 10 transactions per month can save at least $1200 per year with integration.