What is the best way to keep records as a real estate agent?
My wife used to work with web design for years. She enjoyed working with clients. So she is now a licensed real estate agent in rural Montana. I am charged with setting up a record-keeping system, but expense records are quite important to realtors. I have been told to used services like Realtyzam, others have used Quicken and set up houses that are listed as account entities, and others are using Excel.
I do all my planning by using a bookkeeping system. Such bookkeeping systems can help you know what profits you have made, what loss you've borne, and how much money is left that you can invest.
1. Manual paper based
If you prefer manual, paper-based records management, you can buy a cash book, bank book, journal book from a stationery shop, and can pen down your transactions there and do the balancing.
2. With Software
You can maintain it manually, putting records on a spreadsheet will help you or you can use accounting software.These software will help you to meet the local compliances also.
Here are some software suggestions:
1. QuickBooks Online & Enterprise
3. Sage Intacct
3. With the help of experts
Hiring experts is an excellent way to do record keeping if you don’t know accounting. Outsourcing service providers have a team of experienced accountants; they can handle all your recordkeeping work efficiently.
Here are some suggestions from my side for outsourcing service providers.
1. Cogneesol - We Help You Transform Your Business
2. Accounting To Taxes - Outsourced Accounting Services
3. Flatworld Solutions - Outsourcing to India
4. Outsource2india: Outsourcing Services
I would also suggest that you not use QuickBooks online. Horrorific edition truly! I have 34 years of QuickBooks experience all the way back to dos, I suggest QuickBooks desktop Enterprise Hosting Service. I have many clients that are property managers and real estate companies, and we have 450 clients on desktop, only 2 on online and we are in the middle of converting them to the desktop.
When you choose a real estate agent, you sign a buyer’s agent agreement—a contract between you and the brokerage, stating that the agent represents you in the purchase of your home.