504-521-1010
Bookkeeping For Real Estate Company Metairie La

What Makes Bookkeeping for Real Estate Agents Unique?

Is bookkeeping for real estate agents different from bookkeeping for landlords or real estate investors? The answer is that they are different, so it is important to utilize a bookkeeping services firm that understands that real estate agents have unique needs that revolve around the wide range of customer real estate transactions. These transactions include property selling, buying, renting, leasing, and, in some situations, property management.

Real Estate Agent Business Activities

Typical real estate agent financial transactions entail a variety of financial transactions that must be accurately recorded for business, legal, and tax purposes. For this reason, the professional managing bookkeeping for real estate agents has knowledge of transactions involving items like the following.

  • Commission income and calculations
  • Expenses that include common business expenses like office rent plus expenses for specialized items like marketing, professional dues, license fees, entertainment, MLS access, and more
  • Deposits and withdrawals in earnest money deposit and escrow accounts
  • Allowed self-employment expenses unique to the business

A real estate bookkeeper needs to have a comprehensive understanding of real estate financial principles, industry-specific regulations and specialized software tailored to the unique needs of real estate agents. There must also be a high level of trust between the bookkeeping service and the client.

Bookkeeper Skills for a Dynamic Real Estate Industry

The real estate industry is dynamic. Bookkeepers must stay informed about industry developments and continuously update their skills to adapt to evolving needs and requirements. Bookkeeping for real estate agents delivers a combination of technical skills, industry-specific knowledge, software proficiency, effective communication skills, and strong attention to detail.

The Bookkeeper has expertise in bookkeeping for real estate agents, landlords, investors, and businesses in the retail, construction, and manufacturing industries. Easily contact us by sending your contact information online or by calling us at 504-521-1010.

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