Closing a transaction involves many parties, including buyers and sellers, Agents, Brokerages, lawyers, escrow and title companies.
The execution of a Real Estate deal includes taking in or tracking monies in trust or escrow until the sale completes. At that time, monies being held are distributed among the Agents as commission earned.
A Brokerage earns income by taking an agreed-upon fee or fees from their Agents’ commission.
Loft is specifically designed to work for Brokerages and their Agents. We provide the platform to create the transaction and track all contractual documents and financial data for the Brokerage and all their Agents.
Taking the Loft course on Real Estate Accounting can help you better understand the nuances of the industry. Our unique, quick course will allow you to learn the lingo and best accounting practices to apply to both Brokerages and Agents. Getting certified as a Real Estate Partner will allow you to expand your accounting and bookkeeping practice to engage this underserved and recession-proof market. Real Estate accounting is specialized, but it’s easy to learn!
One you’ve received and reviewed the course material, you will be asked to take a quiz to ensure you have a good understanding of Real Estate accounting. Six correct answers will land you in our directory of Specialists. Working directly with Loft clients will upgrade you to an Expert.
Take the quiz!