brokerWOLF
9 Reviews 3.4/5 ★ ★ ★ ★ ★A real estate back office and accounting software by Lone Wolf Technologies.
brokerWOLF is a back office system for realtors. 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.
Video Overview
Features
Some of the top features of brokerWOLF from Lone Wolf Technologies include:
ACCOUNTING
- Accounting basics like accounts payable and receivable
- Real time G/L posting and reconciliations
- More advanced tools like forecast, budget and comparison reporting
TRANSACTIONS
- Electronic Deal Sheets
- Transaction Processing and File Compliance
- MLS Listing integration
- Centralized system to track all deals
AGENT MANAGEMENT
- 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
COMMISSIONS
- 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
Accounts Payable
- 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).
Accounts Receivable
- Tracking all A/R activity from the trade record.
- Posting of cash receipts from lawyers, broker, and agents.
Agent Billing
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.
Agents Commission/Expenses
- Commission check 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 check preparation.
- Real Estate Trust Account reconciliation.
Financial Activity
- 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.
Property Listings
Tracking of all office listings and their details including agents involved.
Staff Payroll
- Preparation of Staff Payroll checks.
- Current Income, Employment Insurance, and Canada Pension Plan.
- Preparation of T4s, T4As, and their respective summaries.
Trade Records
- Input of all trade records.
- Agent commission split calculation.
- Production of lawyers and other brokers letters.
Trust Accounting
- Trust activity received automatically from the trade record.
- Trust check preparation.
- Term deposit calculation.
- Real Estate Trust Account reconciliation.
Product Overview
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User Reviews of brokerWOLF
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We have been using Broker Wolf (aka Lone Wolf) for over a decade and have upgraded many times but the last upgrade has ruined my experience with the software. It makes simple processes much more complicated now. The type of support you get when there is an issue is also just as complicated. Some techs actually do care and do a good job others don’t seem to even understand how the software works. Getting an answer to a problem takes days and even weeks. The only method I’ve found that works quicker is to call and beg for help but even then it’s a slow process. What they advertise does not match the end result. It’s such a shame too because it could be a great product if they would pull it all together.
When I could send the transaction to my backoffice that was great and I loved it. But the latest upgrade ruined that feature. Now transaction desk and backoffice talk but they don’t speak the same language so the are more errors now than ever before.
I hate the upgrade that allows two-way communication between transaction desk and the backoffice. They don’t even know the difference between a transaction fee and a commission so they end up being lumped together which also messes up the reporting to our Corporate office and results in extra time going to all the places the data is stored to correct it. It added HOURS to my workload.
The Software will cover almost everything you may need. But be careful as they will host your Data , and never give it back to you , or will ask you a good chunk of money for cancellation. It is kind of hostage taking , very unethical and unprofessional treatment. You may find the same quality with much better price, and more fair treatment
None
The Cancellation policy, which they asked me almost twice as the setup fee
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
None
support
Very super friendly staff. I find it straight forward and great system to use.
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.
I have never used another system similar to it so I can’t really compare it with anything else.
We can pull up a report that shows commission earned by every agent last year and this year. We can use this to look at agents and see how they are performing towards their goals.
Lone Wolf has integrated all of our back office systems. It is really easy to use. It’s very easy to train people on and bring new staff members on and bring them up to speed. I like the numbered reports because then people know what reports we’re talking about.
We have 100 people in our office and we can easily keep track on everyone’s status and due dates.
When we meet with our agents, we pull the Lone Wolf report and know their firm written deals, how many leads they’ve had and how many they’ve converted. We can look at commission reports and see how strong they are in their sales.
Lone Wolf is so much more than an accounting system. It gives us the ability to see everything at one glance and see where our company is going.
We use our Lone Wolf in many different ways, from connecting to our agents to reporting to our agents where they’re at in our system. We use it to enhance our financial ability to service our agents and see our profitability at any given time in the year.
I use Lone Wolf reports to strategize the future of my business. It gives me all the information I need to measure our production year over year and at a month to month basis. We can look at what’s working, see where we are spending our money where things are not working.
I have both the front desk and the back office Lone Wolf system. I think it would be way too difficult to run my business without these products due to the streamlined abilities it gives us.
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
Easily computes agent commission minus any deductions
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.
I love the program and their offering as well!
