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The pitch
BrokerWOLF is a back-office financial management software for real estate companies.
Type of software: Enterprise brokerage administration
Platform: Mac, Windows desktop OS
Ideal for: Multioffice and agent offices, independent or franchise
Top selling points:
- No stone unturned: Flexible from start to finish, brokerWOLF tackles every facet of running a real estate business without cluttering the process.
- Run it your way: Account reps walk brokers through onboarding to ensure software meets individual operational practices.
- Smart reporting: Vast reporting tools offer an array of decision-making tools for brokers, from hiring and recruiting to what referral avenues to exploit.
Things to consider:
- While smaller offices can benefit from brokerWOLF, true value is realized when brokers are overseeing at least more than 10 agents or when its features can blanket multiple locations.
The close
When I sit through software demonstrations, they tend to be discussions more than presentations.
I didn’t say much during my look at brokerWOLF.
One glance at the interface on the other side of the GoToMeeting screen told me I was going to need to zip it in order to get a good idea what this powerful brokerage management tool could do.
BrokerWOLF is the back-office accounting and administration arm of the Lone Wolf Technologies suite of real estate solutions.
There’s nothing brokerWOLF can’t do for a real estate office executive. This is true enterprise software.
A straightforward dashboard provides a daily outlook of broker tasks, their favorite tools accessed and a Windows-esque collapsible menu tree of functions.
BrokerWOLF connects with your MLS to pull in listing data, every aspect of which is pumped into every instance within the system where its needed, from the Transactions module to the 60-day Agent Income projection report.
Agent profiles are easy to create and manage, and brokers will immediately recognize extensive time savings in the software’s robust interconnectivity among different operational silos. There is no need to rekey information for use in another function.
The accounting capability of brokerWOLF can replace any existing software or service, should you so desire.
The highly intricate financial management tools help control costs, monitor expenses, cut commission checks, generate office income statements, rank agents by net worth to the company and even send referral checks.
Supporting documents can be uploaded or generated, including “Thank You” letters when your year-end reports show a majority of transactions were closed in conjunction with a another local brokerage.
I don’t love the brokerWOLF user interface design. It’s dated and clinical. Yet I wasn’t at all distracted by it because functionality was never in question. Every window, tab and field is concise, in its place.
Managing agents is very intuitive. Commission splits can be arranged in many ways per individual agent, and expenses can be billed to all agents at one time in just a couple of clicks.
Agents easily understand exactly what’s owed, and brokers can track unpaid expenses while monitoring which agents will have a harder time meeting their monthly obligations.
BrokerWOLF can link to agent credit cards, if desired, or parse their commission checks.
The software’s reporting power stands out. The Pending Transaction Report offers a clear look into where things are headed, while the Expense Uncovered Report lets you know when to take action against growing debts.
Any major function within the software can be translated into a detailed report that sheds light into every cubicle and corner of the operation. Few solutions I’ve reviewed will empower brokers with this much prescience.
This is a very stable end-to-end system for any brokerage wanting better control of their finances.
If you’re using multiple disparate over-the-counter tools to run your real estate company, a vertically integrated back-office tool like brokerWOLF would be money significantly better spent.
Do you use brokerWOLF — and what do you think? Leave a comment and let us know!
Do you have a product for our tech expert to review? Email Craig Rowe.
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