How to Budget & Plan Using brokerWOLF Reports for Agents

 

Almost every successful business owes their success to careful planning and budgeting.  With Lone Wolf’s back-office Accounting Solution, brokerWOLF, it is very easy to work with your agents in creating a development plan that includes things like desired income and expense efficiency.

Described below are the brokerWOLF reports that will assist your agents with development, planning and budgeting. To access these reports type in the corresponding letter and number sequence.

  • 8.B.1: Agent Budget Preparation – You can create and edit individual agent budgets. Each agent’s budget consists of an average sell price, an average commission rate and twelve monthly end count totals. You can roll over actual sales data or a previous budget into the current budget.
  • 8.6.7: Agent Expense Aging Report –  The Agent Expense Aging Report prints agent expense balances as of any date. It then ages each agent expense balance to report agents which have balance outstanding beyond 30, 60, 90, and 120 days.
  • 8.5.C: Compare Prior Year – This report will give you a look at agents’ production in the current and prior year. The report offers you three sort options for the comparison: Commission, Side, or Volume.
  • 8.F.4: Agent Status Report – The Agent Status Report will show you an agent’s outstanding expenses, as well as all activity the agent has pending. The report will also show you activity from previous months.
  • 8.6.A: Agent Annual Expense Summary – The Agent Annual Expense Summary is a valuable year-end report for the agent. This report summarizes and displays all the agent expense by category and by month. This is a great tool to budget expenses for the next year.
  • 8.5.6: Agent Annual Income Summary – This report is designed to provide a look at income for one agent based on a four year period. This is another great tool to budget your income for the following year.
  • 8.F.1: Agent Financial Statement – This report will display all income and expenses within any date range for each agent.

What brokerWOLF Reports do you use to help budget and plan? Share your thoughts and experiences below.

Monica Boutzis

Monica Boutzis

Monica Boutzis is a Sales Representative at Lone Wolf. She prides herself on being attentive to client needs, communicating effectively, and valuing the relationships built. In her spare time, Monica enjoys playing hockey, baseball and golf. She loves the outdoors, traveling and spending time with family and friends
Monica Boutzis

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  • MurphyMom

    I am not a real estate agent, but this program looks pretty clever for any business! Thanks for the great read, being a business owner there were some good points for me to consider!

  • Thanks! We are glad you found this article useful!