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
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.