Running a brokerage is hard. You have to manage agents, transactions, and documents. But don’t worry — Brokermint is here to help. Read on to learn about this software and how it can increase your bottom line.
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- What Is Brokermint?
- Our Take
What Is Brokermint?
Brokermint is a back office management software company founded in 2014 in Carlsbad, California. The software helps to centralize, organize, and automate everyday management tasks so brokers can concentrate on closings.
They designed their platform to be an all-in-one solution for managing a real estate office. Its best features include transaction management, commission tracking, reports, and analytics.
In fact, it’s so effective that over 700 brokerages across the nation utilize the platform. And there’s a reason. With great features and even better support, it’s a no-brainer.
The company handles support by telephone, email, online KnowledgeBase, and online webinars. Help is available 24 hours a day, seven days a week.
Should you need to contact the company, you can do using one of the below methods:
2175 Salk Ave., Ste. 185
Carlsbad CA 92008
Telephone: (619) 433-6789
However, before you sign up, be sure to read our complete review below. We’ll cover the best features, plans and pricing, our take, and competitors. Read on to learn more!
Brokermint’s Best Features
It also lends a hand with managing agents and building the company brand. Here are details about Brokermint’s features:
Using Brokermint’s transaction management features, Brokers can keep a close eye on transactions from a central dashboard.
You can upload, download, and review documents any time or anywhere you have web access. Digital documents are backed up and stored securely in the cloud on servers managed by Amazon AWS.
Brokermint also enables e-signatures. Being able to sign contracts digitally, disclosures, and other real estate forms makes transactions faster, more convenient, and more secure.
The transaction management tool will automatically send customized reminders to staff members to keep them up to date on deadlines and necessary tasks. If you need to follow up, you can send emails from within Brokermint.
Offer management lets you keep track of multiple offers on properties. The system retains all the necessary documents and details in a single place. You can contact multiple agents with a single click of the mouse.
An automated tracking system keeps an eye on documents that need to be signed or submitted, and other tasks necessary for compliance. Digital e-signatures and automated followups reduce the risks of running afoul of rules and regulations.
Brokermint simplifies and smooths the job of tracking agent commissions. It automatically accounts for split commissions and different commission tiers.
It also works with teams. You can set up teams and cap contributions and see how much each agent contributed to meeting the group’s quota.
Brokermint connects with QuickBooks and other accounting systems to let you see the big picture or the fine print. You can check deposit details for individual transactions or view the balance across all deals.
Brokermint comes with standard commission distribution authorization (CDA) forms. You can also create a custom form, and even include your company’s logo and brand name on the CDA.
Reports and Analytics
Brokermint lets you analyze business data and generate reports using standardized templates or customized preferences. You can track and measure many different data sets, including agent commissions, team performance against goals, and more.
Are you projecting cash flow? Brokermint can give you a report on that. Trying to see what deals are pending and what to do next to move them along? Brokermint has that covered too.
Brokermint can generate many other reports, including:
- Agent efficiency, including who’s improving and who needs help
- Most effective and most profitable sales funnels
- Past, present and projected net monthly profits
- Total value of listings
- Value of escrow and other assets
If you need more or different reports, you can create them yourself using the drag and drop report builder. If you’re using several different spreadsheets to track numbers and generate reports, Brokermint can make your work simpler and more accurate.
Brokermint starts by helping you get new agents integrated into the team. Then you can set goals, measure performance, boost productivity, and make sure everyone’s complying with rules and regulations.
With every commission check, you can present an agent with a statement telling them how much they’ve brought in over time. A detailed breakdown helps them see their precise earnings.
The program stores detailed agent profiles privately and securely. You can attach any relevant documents to the agent’s profile.
Brokermint lets you quickly create rosters for teams of agents, set performance goals, and track how they’re doing. You can set commission caps across teams and drill down to examine individual and team performance.
Branding and White Label
Per the company, more than 700 real estate companies have selected Brokermint to help with back-office operations. However, you can still customize Brokermint to make it appear to be your own in-house software.
Incorporate your business name, logo, and color scheme throughout the platform to boost your brand with employees and customers. This includes branded email notifications,
You can also customize the functionality of the system, streamlining to remove tools and features you don’t need.
The result is a software platform that appears to be unique to your company. It will improve your image with agents and clients while also boosting the efficiency of your operations.
Brokermint has an application programming interface (API) available so brokers and other real estate software can tightly integrate with it. It’s already integrated with these CRM, accounting, Multiple Listing Service (MLS), scheduling and other real estate applications:
- Inside Real Estate
- Follow up Boss
- Google Calendar
- Google Drive
- QuickBooks Online
- QuickBooks Desktop
When Brokermint is integrated with applications, it makes it much easier to import and export data between programs. This saves time compared to typing in data and also reduces the chances of making a mistake.
If you can’t find the integration you need among this list, Brokermint will do a custom integration. And as cloud-based software, Brokermint runs on any computer platform or operating system.
Brokermint Plans and Pricing
Brokermint has three monthly subscription pricing levels: Simple Start, Standard, and Enterprise. There’s also a free trial that doesn’t require you to use a credit card.
The basic price for each level is enough to pay for five users or seats. If you want more users, the price increases. Here are the three levels:
Simple Start: from $99/month
The Simple Start plan includes:
- Transaction management
- Commission tracking
- State forms
Standard: From $129/month
If you move up to the Standard plan, you’ll get all Simple Start features and:
- Team management
- Integration with MLS and QuickBooks
- Dashboard for posting company news and sharing agent stats
Enterprise: From $179/month
With the Enterprise plan, you’ll get the Standard features plus:
- Agent onboarding
- White-label customization
- Multiple office locations
- Sync with CRMs
- Use the API to integrate with other tools
- Single sign-on authentication
Brokermint Pros and Cons
As with any good review, we believe it’s important to highlight both the pros and the cons. Don’t worry — we’ve done just that below.
Pros (What we like)
- Ease of use. Time and again, reviewers say that it is the most straightforward back-office management software they have come across. That said, managing a real estate office is complicated, and the software can’t be any more straightforward than the job itself. It will take some time to learn to use Brokermint.
- Easy to learn. The learning curve’s steepness and length depend on the experience and skill of the office manager or other individual trying to learn it. But most users say they have had relatively little trouble figuring out how to make the most of Brokermint.
- Great value. The commission-tracking and e-signatures tools come in for individual approval.
Cons (What can be improved)
- State form integration. One limitation mentioned about Brokermint concerns its integration with individual state required forms. Users also say the program’s inability to track emails to agents. Inadequate or poorly displayed information about uploaded documents is another issue.
- User experience. Most of the negatives about Brokermint concern how much time it takes to learn to use it. It’s widely considered among the easier back-office platforms to learn, however. So this may be more about how complicated the task is than how complicated Brokermint is.
This application is great for agents and brokers seeking a simple transaction and commission tracking platform and who are already using a separate CRM.
Brokermint has a few competitors, though each has its own unique features. We’ve included some alternatives below.
- BrokerWOLF is a real estate office management platform that generally matches Brokermint feature for feature. BrokerWOLF has been around for 30 years and has many more users than Brokermint.
- Monday.com is a team collaboration program that is used in several industries besides real estate. It’s less expensive than Brokermint, at $5 per user per month.
- BrokerSumo helps with many of the same commission tracking, disbursement, reporting, accounting, and other tasks as Brokermint. It’s priced at $99 a month, plus $1.50 per agent per month. The company recently announced plans to change the name of the product to Core BackOffice.
Should You Use Brokermint?
If you’re looking for software to help manage your brokerage, Brokermint should be on your list of candidates. The flexible pricing, ease of use, and robust feature set make it a contender in this product space.
And while you’re here, check out our complete software guide! We cover over 70 total companies, which makes it the most comprehensive list of real estate software currently available online.