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How to Modernize Your Real Estate Brokerage with Back Office Software

Real Estate Software

Is your brokerage modernized?

Modern brokerages can manage more transactions, close faster, retain top agents better, and reach brokerage goals sooner. Brokerages that aren’t modernized struggle to keep up with modern brokerages.

Wondering how you can modernize your brokerage? The easiest way is with the right back office software. We’ll cover how back office software can help you speed up transaction management, close more deals, recruit and retain top talent, and more. Let’s take a look at the first way to modernize your brokerage with back office software – cloud technology.

1. Use Cloud-based tech

Business woman using tablet with financial, cloud connectivity conceptThe first way back office software can help you modernize your brokerage is with cloud-based technology.

You and your team need to get work done wherever you are. But, without the right tech, you and your team have to be in your office to get things done – like running reports, generating eSignature documents, managing offers, checking pipelines, tracking goal progress, and more. Having to work only in the office can hurt your and your team’s productivity and brokerage growth.

With back office software that’s cloud-based, you can get your work done from anywhere. Cloud-based tech allows you and your team to access back office software like transaction management, eSignatures, accounting, reporting, and more from any device.

Back office software with cloud technology can help you modernize your brokerage by empowering you and your team to get work done from anywhere – boosting productivity and brokerage growth.

2. Go Paperless

Another way back office software can help you modernize your brokerage is by helping you go paperless.

Manually managing your back office can require a lot of paperwork. Your team has to spend hours every week filling out, recording, and storing paperwork. And, when anyone needs documents, your team has to spend even more time hunting for the right papers. Running your back office with paper documents is not only time-consuming but also expensive.

Back office software can help you go paperless. With back office software, everything from transaction management, to accounting, to agent management, and more is done digitally. Your team no longer needs to print out forms to sign, commission checks, reports, offer paperwork, and more.

Plus, the right back office software can automatically store and organize all back office documents. This reduces your team’s workload and makes it easy for everyone to find what they need.

By eliminating paper throughout your back office, you can boost efficiency, save money, and free your team up to focus on high-value activities (like managing more transactions).

3. Lean on Automation

Process Automation on the Mechanism of Metal Gears.-4Along with going paperless, back office software with automation can help you modernize your brokerage.

Traditional back office management requires a lot of tedious manual tasks – like finding, transferring, and entering data. These manual tasks waste your team’s time and keep them from focusing on growing your brokerage. And, manual back office management is more error-prone. This further wastes time and can hurt your client experience.

With back office software, your team can automate manual tasks throughout your back office, From finding the right data, to putting it in the correct place, to performing calculations, to generating reports, and more, back office software can automate time-consuming tasks. This frees up your team to spend time on brokerage growth activities.

By automating back office management, your team can save time and improve accuracy to help you grow your brokerage.

4. Put Everything in one place

Back office software can also help you modernize your brokerage by consolidating your tech stack so everything is in one place.

With so many tech options to manage your brokerage, it’s easy to end up with a lot of tech tools. While having tech to manage every aspect of your brokerage should make things easier for you and your team, a large tech stack can do the opposite. Navigating so many tech tools can be time-consuming, frustrating, and confusing.

A large and unwieldy tech stack can cause you and your team not to use your tech. This not only wastes money. It also holds your brokerage back because you don’t get the benefits of brokerage tech.

The right back office software can help you modernize your brokerage by consolidating your tech stack. A complete back office platform has everything you need to streamline your back office (like transaction management, accounting, reporting, and agent management) all in one place.

By consolidating your tech stack, back office software can make your tech easier to use. That way, you and your team will actually use your tech. This ensures you get the benefits of tech to accelerate brokerage growth.

5. Empower with a Mobile app

Smiling businesswoman showing blank smartphone screen over gray background. Wearing in blue shirt and glasses. Looking at camera.A back office app can also help you modernize your brokerage.

Your agents are always on the go, often with just their smartphones. Yet, many back office platforms require a computer to access things like transaction checklists, eSignature documents, and pipeline monitoring. If your agents need anything from your back office tech, they have to go back to the office or their computer – which wastes time and hurts productivity.

With a back office mobile app, your agents can do everything they need on the go. From their smartphones, your agents can look at transaction checklists, keep an eye on their pipelines, manage offers, create eSignature documents, and more. This helps your agents maximize productivity and close deals faster – leading to happier clients.

The right back office mobile app can empower your agents to get things done on the go to boost referrals, repeat clients, and revenue to grow your brokerage.

6. Pay with next-day ACH

The last way back office software can help you modernize your brokerage is with ACH payments.

Traditional agent payment requires calculating commissions, transferring that info to checks, and either handing checks to agents or mailing them. This can be time-consuming for your team and keep them from focusing on high-value tasks. Plus, agents have to wait weeks (or months) to get paid with traditional agent payment.

With back office software, you can speed up agent payment through next-day ACH payments. After your back office software calculates commissions, it then transfers the data to accounting. Then, your team can pay agents electronically with next-day ACH payments. Agents will see their payment in a matter of days – making agents happier and more likely to stay.

Next-day ACH payments require less work from your team and pay agents faster – which can boost brokerage growth.

Wrapping it up

As technology adoption accelerates, it’s more important than ever to modernize your brokerage. Failing to modernize your brokerage makes it hard to retain top agents, create a great client experience, and reach your brokerage goals.

The good news is modernizing your brokerage doesn’t have to be hard. Adopting the right back office software that’s cloud-based, paperless, has automation, is consolidated, has a mobile app, and offers ACH payments makes it easy to modernize.  

If you’re looking for the best back office software to modernize your brokerage, Brokermint is the way to go. Brokermint is a complete, cloud-based back office platform. It automates tedious tasks and digitizes paperwork. Plus, Brokermint has a best-in-class mobile app and speedy next-day ACH payments.

Brokermint’s five modules – transaction management, commission automation, accounting, agent management, and reporting/analytics – have everything you need to streamline and modernize your back office.

Book your Brokermint demo today to see how you can modernize your brokerage through back office software.