Running a real estate business means constantly dealing with clients, managing property listings, commissions, and expenses—and that’s before even touching bookkeeping! As a realtor, you probably already know that keeping track of finances can quickly become overwhelming. I remember speaking with realtors who were struggling to manage multiple transactions while keeping tabs on income and expenses. This is where bookkeeping software can be a lifesaver.
Whether you’re an independent agent or part of a brokerage, having the right bookkeeping software helps you manage commissions, track mileage, and prepare for tax season with ease. Let’s go over the top bookkeeping software options for realtors that can streamline your financial workflow and keep your business running smoothly.
Best Bookkeeping Software for Realtors
1. FreshBooks
Why It’s Perfect for Realtors
- Expense Tracking: FreshBooks lets you track all your real estate expenses, from marketing to travel costs, with ease.
- Client and Project Management: Organize your transactions and commissions by client or property, making it easy to see which deals are bringing in the most profit.
- Mobile App: Snap pictures of receipts, track expenses, and invoice clients from anywhere—perfect for realtors constantly on the go.
- Invoicing: Although invoicing isn’t common in real estate, you can still use FreshBooks to bill for extra services like consulting or property management fees.
Pros
- User-friendly interface, even for those without accounting experience.
- Great for tracking real estate-specific expenses like mileage and advertising.
- Excellent mobile app for managing expenses on the move.
Cons
- Lacks direct real estate-specific integrations (you may need to use third-party tools).
- Limited for complex commission structures.
Best For: Realtors and small real estate firms who need a simple, easy-to-use bookkeeping solution focused on managing expenses and tracking profit.
2. QuickBooks Online
Why It’s a Powerhouse for Realtors
- Commission Tracking: QuickBooks makes it easy to track commissions and expenses for each transaction or listing, giving you a clear picture of your income.
- Mileage Tracking: Real estate agents spend a lot of time driving. QuickBooks offers an automatic mileage tracker so you can easily claim tax deductions.
- Reporting: Customizable reports help you keep an eye on income, expenses, and tax liabilities, ensuring you’re always prepared for tax season.
- Third-Party Integration: QuickBooks integrates with several real estate-specific tools and CRM systems, making it a versatile option for realtors.
Pros
- Strong financial reporting capabilities.
- Offers integration with real estate CRM tools and other software.
- Comprehensive tracking for commissions, expenses, and taxes.
Cons
- Can be expensive for solo realtors or those just starting out (starting at $25/month).
- Somewhat steep learning curve for first-time users.
Best For: Realtors who need more detailed financial reporting, integration with CRM tools, and the ability to track commissions and mileage.
3. Xero
Why It’s a Great Option for Realtors
- Multiple Currency Support: Realtors who work with international clients will appreciate Xero’s multi-currency functionality.
- Expense and Commission Tracking: Like QuickBooks, Xero allows realtors to track their expenses, commissions, and client-related costs by project or property.
- Invoicing and Payment Tracking: If you handle property management or consulting fees, Xero offers simple invoicing features.
- Mobile Access: Xero’s app allows you to manage your books, track expenses, and record receipts on the go.
Pros
- Affordable pricing (starting at $13/month).
- Good for realtors dealing with international transactions.
- Simple, intuitive interface that is easy to learn.
Cons
- Requires third-party apps for mileage tracking.
- No real estate-specific features like commission splits or CRM integration.
Best For: Realtors looking for affordable bookkeeping with basic functionality, especially those working with international clients.
4. Zoho Books
Why It’s Ideal for Budget-Conscious Realtors
- Low Cost: Zoho Books offers affordable pricing tiers, perfect for realtors who are just starting out or operate on a tight budget.
- Expense Tracking: You can track all of your real estate-related expenses, categorize them for tax purposes, and manage receipts from within the app.
- Mileage and Travel Expenses: Zoho Books offers the ability to track your travel expenses, including mileage, making it useful for realtors.
- Client Portal: Clients can log in to view invoices or statements, which can be handy if you offer additional services like consulting or property management.
Pros
- Very affordable (starts at $0 for basic plans, with paid plans offering more features).
- Easy to use for small real estate agents or those new to bookkeeping.
- Includes a client portal, ideal for those offering extra services.
Cons
- Lacks robust real estate-specific features like commission tracking.
- Limited integration with real estate-specific CRMs and platforms.
Best For: Realtors on a budget who need simple bookkeeping features without the need for complex integrations or advanced commission tracking.
5. RealtyZam
Why It’s Built Specifically for Realtors
- Real Estate Focused: RealtyZam is designed specifically for realtors, making it easy to track commissions, expenses, and profits for each deal.
- Simple Setup: Setup is incredibly easy because the software is made for the real estate industry, so you won’t spend time customizing it to your needs.
- Commission Tracking: Automatically track your commissions, split them with other agents, and calculate how much you owe to your brokerage.
- Tax Prep: RealtyZam organizes your financials in a way that makes tax time simple, with reports that are ready for your accountant.
Pros
- Tailored specifically for real estate professionals, with all the tools you need.
- Easy commission tracking, split calculations, and expense management.
- No steep learning curve—built for realtors from the ground up.
Cons
- Limited in functionality compared to QuickBooks or FreshBooks.
- Not ideal for large real estate firms or those needing payroll management.
Best For: Individual realtors or small teams looking for real estate-specific software that handles commission tracking and expenses without unnecessary complexity.
How to Choose the Right Bookkeeping Software for Your Real Estate Business
When selecting bookkeeping software for your real estate business, consider the following:
- Commission Tracking: Look for software that helps you track commissions for each deal and split payments with other agents if needed.
- Mileage Tracking: Realtors spend a lot of time on the road, so make sure your software can automatically track and calculate mileage for tax purposes.
- Client Management: Some software, like FreshBooks or RealtyZam, offers tools to help manage clients and track property-related expenses.
- Integration: If you’re using a real estate CRM, ensure the bookkeeping software integrates with your existing system for seamless workflow.
- Ease of Use: Consider how much time you’re willing to spend learning the software. Some systems, like RealtyZam, are simple and built specifically for realtors, while others like QuickBooks offer more features but have a steeper learning curve.
Conclusion: FreshBooks is the Top Choice
For most realtors, FreshBooks stands out as the best overall bookkeeping software. It’s incredibly user-friendly, handles essential tasks like expense tracking and client management, and helps you stay on top of your real estate business without getting bogged down by complicated features. While QuickBooks Online and RealtyZam offer more specific features for commission tracking, FreshBooks provides the simplicity and functionality that most realtors need to manage their business efficiently.