BrokerSumo
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Why BrokerSumo is a powerful brokerage management solution

New brokerage oversight software offers flexibility, hiring tools and detailed financial management
BrokerSumo
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  • The software has partnerships with dotloop, SkySlope, QuickBooks and others.
  • It includes highly detailed management of accounting, commissions and all fees associated with transactions.
  • The company was formally launched in October 2016 but spent almost a year in beta.

BrokerSumo addresses four major components of running a real estate office, dividing its feature set by agents, transactions, accounting and reporting.

Have suggestions for products that you’d like to see reviewed by our real estate technology expert? Email Craig Rowe.

BrokerSumo is a web-based real estate office management software.

Platforms: Browser-based
Ideal for: Mid-size and large offices; shops with multiple teams; any brokerage in need of streamlining operations

Top selling points

  • Electronic agent onboarding
  • Easy, detailed financial management tools
  • Not overdone; not bloatware
  • Ideally made for brokers

Top concerns

  • It’s a software that formally launched in October 2016 after a year of beta use. It’s young, but worth strong consideration.

What you should know

BrokerSumo has integrations with dotloop and SkySlope, as well as two smaller names in the transaction management space, because its developers smartly decided that it didn’t need to reinvent a wheel already rolling smoothly through the industry.

It also makes it easier for brokerages using those products to adopt its software.

BrokerSumo addresses four major components of running a real estate office, dividing its feature set by agents, transactions, accounting and reporting.

I believe it excels in managing the minutia of real estate office finances.

The software quickly splits commissions, sends invoices, collects fees, connects credit cards and also details every incoming and outgoing penny in a series of robust reporting tools.

The interfaces throughout are clear and make scanning pertinent numbers and graphs quite palatable.

Brokers will enjoy the electronic onboarding process for new agents.

BrokerSumo offers new recruits a sleek way to upload documents, connect credit cards or bank accounts, and enter personal and professional data.

On the broker side, users can apply an array of commission structures to each respective team member. No further interaction is required, as every time an agent closes a sale, that setup is automatically applied to every payout.

According to BrokerSumo founder Jeremy Shoenig, the transaction component “picks up where most transaction tools leave off,” meaning it merges with deal flow at the end of escrow.

Its intent is to wrap a financial bow around everything dotloop and SkySlope have done to date.

It adds its own pre-poplated or custom task lists, includes all title and escrow needs, calculates final fees and closes out the deal.

Brokers who prefer QuickBooks will find BrokerSumo’s partnership with it helpful, as all deals can be output to the popular accounting platform.

There are a number of reports to access in BrokerSumo, ranging from Agent Value to Lead Conversion Report.

The Commission Detail Report offers the most comprehensive look into the financial status of one’s operation.

Other features found within BrokerSumo include an office document library, agent performance metrics, lead source measurements, DocuSign-driven e-forms and an elegant user experience.

The decision to not build-out a full-fledged transaction management tool was a deliberate one; Shoenig shares my sentiment that bloatware is clogging the industry. Too many software companies are trying to build something that addresses every tiny issue a broker might have when running a business, but that’s just not necessary.

Like its namesake, BrokerSumo offers customers a hefty tool that’s flexible and athletic.

Have a technology product you would like to discuss? Email Craig Rowe.

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