Back Office Software for Real Estate
Created with the end user in mind, this simple yet comprehensive program provides a complete office management solution. Lone Wolf’s Back Office software combines traditional accounting with automated commissions, transaction data and real time reporting to give broker’s accurate, on-demand insight into all activities associated with the office – from agent profitability to bank reconciliations. Designed specifically for the real estate industry, it speaks your language and works within your processes not the other way around.
- Accounting basics like accounts payable and receivable
- Real time G/L posting and reconciliations
- More advanced tools like forecast, budget and comparison reporting
- Electronic Deal Sheets
- Transaction Processing and File Compliance
- MLS Listing integration
- Centralized system to track all deals
- Membership Info: Contact info, contracts, licenses, anniversary and key dates in one tidy profile
- Agent reporting & dashboards (through WOLFconnect Basic)
- Single point of entry used throughout brokerWOLF and all LW systems
- Flexible and unlimited commission structures
- Automated fee and agent billing
- Supports complex partial payments, bonuses, pre/post-split deductions and custom disbursements
REPORTS AND INSIGHTS
- 100s of management and production reports
- Robust Reporting such as Agent Net Worth, Ranking of Agents by Commissions, Expenses Uncovered or even Commissions with Other Brokers
- Invoice entry for office expenses as well as recovery of expenses from agents.
- General Account cheque preparation.
- Supplier inquiry activity for each supplier (Current & History).
- Tracking all A/R activity from the trade record.
- Posting of cash receipts from lawyers, broker, and agents.
Charging expense to agents is as easy as 1-2-3, with the many time efficient methods that the system provides.
- Split invoices through Accounts Payable.
- Charging expenses directly.
- Track and post recurring expenses.
- Post expenses to a group of agents.
You can also customize the system to allow for many different expense accounts for each agent. The end result is a professional looking Agent Expense Statement.
- Commission cheque preparation to agents including any deductions.
- Expense Activity including posting of direct expenses, recurring and group expenses.
- Preparation of monthly expense statements as well as yearly summary expense statements.
- GST reporting.
Commission Account Payable
Tracking of all other broker activity from the trade record.
Commission Trust Accounting
- Commission Trust activity on all trade activity.
- Commission Trust cheque preparation.
- Real Estate Trust Account reconciliation.
- Tracking of all trade, a/r, a/p, agent expense and commission.
- Reconciliation of the General Bank Account.
- Preparation of Government remittance for GST/HST.
- Analysis of budget and actual financial information.
- Preparation of financial statements for any date range as well as a yearly summary.
Tracking of all office listings and their details including agents involved.
- Preparation of Staff Payroll cheques.
- Current Income, Employment Insurance, and Canada Pension Plan.
- Preparation of T4s, T4As, and their respective summaries.
- Input of all trade records.
- Agent commission split calculation.
- Production of lawyers and other brokers letters.
- Trust activity received automatically from the trade record.
- Trust cheque preparation.
- Term deposit calculation.
- Real Estate Trust Account reconciliation.
Reviews of brokerWOLF Write a Review
An anonymous brokerWOLF user says...
not user friendly and there is not any teck support available. When you reach someone DAYS LATER they do not have knowledge of the product
The bad: support
David from ReMax Urban Properties says...
Very super friendly staff. I find it straight forward and great system to use.
The good: Training sessions were spot on. If I have questions after any training session, they will help out. They also have an online portal that is very useful.
The bad: I have never used another system similar to it so I can’t really compare it with anything else.
It is not a program to use if you are making banking changes or haven’t trained your staff. It’s easy to have incorrect G/L balances if you don’t know what uou are doing. Fixing a problem is extremely difficult
The good: Easily computes agent commission minus any deductions
The bad: Too difficult to fix a problem. Can’t just change the account you may have posted to wrong, you have to delete the entire entry and re-enter,but you have to know every detail to reverse the transaction.