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Brokermint, a back-office real estate business solution that processes 5 percent of the country’s transaction volume, has launched new tools to further help brokers manage the intricate financials of their offices.
Until recently, Brokermint was designed for transaction management and commission tracking. It’s used by more than 1,100 brokerages, according to Andrew Chishchevoy, the company’s CEO and co-founder.
In a recent demonstration of the updates, Chishchevoy also said that Brokermint is used by 45,000 agents in all 50 states and has more than 250 MLS partnerships.
The software now goes deeper into accounting, payment processing, billing and long-term brokerage financial oversight. Brokers can track individual agent performance or what’s happening with an entire team. Projections can be made against pending closings per office, and the newest tools are also viewable through Brokermint’s smart, funnel-inspired user interface.
Forms from more than 20 states are now available within the software, complete with full e-signature tools and dynamic custom form editors.
In addition to custom forms, users to can build custom financial reports using a drag-and-drop feature for any desired metric wishing to be tracked. More than 25 standard reports are included with the system to help track year-over-year performance and agent profitability, rank sales leaders, and review cancelled transactions, among other common financial needs.
Monthly cash flow is at the ready via the new ledger module, and it can be sourced to any agent in all offices down to the individual expense. Agents can also be billed directly from the software using a credit card account or through a connection to Stripe, the popular online payment processor.
All of the third-party integrations within Brokermint remain intact as well. Brokers can link existing CRM accounts, data feeds and other accounting tools, ensuring they never have to leave the system to have a comprehensive understanding of their company’s finances.
Lastly, Chishchevoy and team added some hiring features to serve as the first touch point for integrating agent data into the system. Agent onboarding functionality walks hiring managers through each legal and internal need for introducing a new agent to the office, ranging from establishing credit card accounts to commission splits. The data can travel with the person from office to office and team to team.
These recent updates will only further cement the company’s place within the industry ecosystem. Business tools with this level of financial granularity and a mobile-inspired, consumer-driven user experience aren’t easy to build — or find.
Brokermint recently landed at No. 992 on 2020 Inc. 5000 list.
Have a technology product you would like to discuss? Email Craig Rowe
Craig C. Rowe started in commercial real estate at the dawn of the dot-com boom, helping an array of commercial real estate companies fortify their online presence and analyze internal software decisions. He now helps agents with technology decisions and marketing through reviewing software and tech for Inman.