Simple Accounting For Real Estate Agents

Keeping up with records and expenses can be a time-consuming task and takes away from valuable time that could be better spent working with clients or attracting potential clients. Your time is extremely valuable and if you lose clients, it can cost you money. Of course you can outsource your accounting, but then you don't have as much control over what gets entered, what mistakes are made, etc. 

Some of the most common income and expenses are:
  • Commissions
  • Office expense
  • Real estate fees/dues
  • Vehicle Miles
  • Marketing/advertising
  • Real estate education
There can be more or less than these, and there may even be subcategories depending on how organized you like to keep your records. But even with these few categories, it can be a headache to deal with it every day. And if you don't deal with it every day, you end up getting slammed with a week or more of expenses and income that you will have to analyze and determine where it came from, how much you spent, how much you made for each specific transaction. This can easily turn into an all-day chore.

But I recently found a system that can help you keep track of your records daily by using less than 10 minutes per day, and allows you to keep efficient and organized records. 

The system

First, you must create a free account with Open an account and you will use their feature called "Reports." Make a name for your reports to coincide with your expenses and income listed above.

Now you make an account through This is an inexpensive service that allows you to choose the method that fits you best- minutes or a monthly cost. Now you simply go to the "Links" feature in Jott, and choose the Xpenser link. Xpenser will approve the link and now you can start sending messages to Jott from wherever you are.

For instance, you may send it a message stating "$5,000 commission - Fitzgerald transaction." This will be saved in your "Expenses" tab. Now the only thing you have to do is assign it to the appropriate category. Now you can remain up-to-date on all your daily records, stress-free knowing you have a great plan in place, and you can spend your time doing what you need to be doing.

9/29/2013 07:10:18 pm

Hi This one is great and is really a good post . I think it will help me a lot in the related stuff and is very much useful for me. Very well written I appreciate & must say good job..

10/10/2013 10:36:57 pm

You can't run a business or anything else on a theory.


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