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20 Best Brokerage Management Software in 2021

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Sahiwala Property Agency Management Software

By Sahiwala

4.9 (2 reviews)

Starting Price

₹10,266/Lifetime

Inclusive of all taxes

The Sahiwala property management software maintains the database persistent to property buyers and sellers' requirements... Read More About Sahiwala Property Agency Management Software

Evolve BMS

By Evolve WebInfo

4.6 (2 reviews)

Starting Price

₹17,700

Inclusive of all taxes

WebInfo Brokerage is a unique application developed by Evolve WebInfo to manage Grain Brokerage. It is a Client server b... Read More About Evolve BMS

Aarvi Real Estate Solution

By Aarvi Technology

Price On Request

Aarvi Real Estate Solution is a business management software for large real estate companies having a wider reach. The... Read More About Aarvi Real Estate Solution

Real Estate Solution Basic

By Aarvi Technology

Price On Request

Real Estate Solution Basic by Aarvi Technologies is a comprehensive business management software for small and average-... Read More About Real Estate Solution Basic

Cratio CRM

By Cratio Software

4.4 (2 reviews)

Starting Price

₹1,766/User/Month

Inclusive of all taxes

Cratio CRM is one of the best CRM software across India. It offers a cloud-based solution for better output. This CRM... Read More About Cratio CRM

Dquip Real Estate CRM

By Dongre Technoquip

4.4 (1 reviews)

Price On Request

Real Estate CRM comes under best crm software list which helps Real Estate companies manage leads, enquiries and other... Read More About Dquip Real Estate CRM

Dotloop

By Dotloop

Price On Request

Dotloop provides a set of features for business users to increase productivity and perform core functions accurately. De... Read More About Dotloop

Ctm Econtracts

By Ctm

Price On Request

Ctm Econtracts provides a set of features for business users to increase productivity and perform core functions accurat... Read More About Ctm Econtracts

CRM Pro

By Pro Agent Solutions

Price On Request

CRM Pro Brokerage Software for Real State provides a set of features for business users to increase productivity and per... Read More About CRM Pro

Brokersumo

By Brokersumo

Price On Request

Brokersumo Brokerage Software for Real State provides a set of features for business users to increase productivity and... Read More About Brokersumo

Follow Up Boss

By Follow Up Boss

Price On Request

Follow Up Boss provides a set of features for business users to increase productivity and perform core functions accurat... Read More About Follow Up Boss

BrokerMint

By BrokerMint

Price On Request

BrokerMint provides a set of features for business users to increase productivity and perform core functions accurately.... Read More About BrokerMint

Total Brokerage

By Brokerage Management Solutions

Price On Request

Total Brokerage provides a set of features for business users to increase productivity and perform core functions accura... Read More About Total Brokerage

RSquare

By Realty Redefined

Price On Request

RSquare Brokerage Software for Real State provides a set of features for business users to increase productivity and per... Read More About RSquare

NEXTBROKER

By NextAgency

Price On Request

NEXTBROKER Brokerage Software for Real State provides a set of features for business users to increase productivity and... Read More About NEXTBROKER

RealtyBackOffice

By RealtyBackOffice

Price On Request

RealtyBackOffice Brokerage Software for Real State provides a set of features for business users to increase productivit... Read More About RealtyBackOffice

IXACT Contact Real Estate CRM

By IXACT Contact Solutions

Price On Request

IXACT Contact Real Estate CRM Brokerage Software for Real State provides a set of features for business users to increas... Read More About IXACT Contact Real Estate CRM

Last Updated on : 28 Nov, 2021

What is Brokerage Software?

Brokerage software is a business application designed to automate and streamline brokerage-related needs of real estate businesses, stockbrokers, and insurance companies. It also helps in TDS calculation, transaction tracking, commission payment, agent management, and reporting.

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Buyer's Guide for Top Brokerage Management Software

Found our list of Brokerage Management Software helpful? We’re here to help you make the right choice and automate your business processes. Let’s discover some of the essential factors that you must consider to make a smarter decision!

What is Brokerage Management Software?

A brokerage management system enables users to accurately calculate brokerage and commissions for clients, sub-brokers, agents, or companies and maintain their ledger.

Brokerage management software gives real estate companies, insurance companies, and stockbroking firms a complete overview of brokerage-related operations. BMS usually includes features for trade order entry, data management, regulatory compliance, and business analytics. It helps companies minimize errors and reduce the time taken to calculate brokerage and commissions.

Brokerage Management System (BMS) streamlines all brokerage-related transactions to improve accuracy, efficiency, and legal compliances. It helps identify opportunities, risks, and miscalculations. It is often integrated with the accounting system for correct ledger preparation and due balance calculations.

Major Benefits of Using Brokerage Management Software

Brokerage management software helps in simplifying the entire process of brokerage, commission calculation, and payment. Here are a few benefits of using a brokerage management system.

  • Minimizes errors: BMS software automatically calculates brokerage and balances, eliminates arithmetic errors and omissions.
  • Saves Time: Since brokerage management software eliminates manual calculations and ledger posting, it saves time. It can also integrate with the accounting system to remove manual data entry tasks.
  • Accurate Accounting: Brokerage software integrates with accounting software, making it easier to generate accurate reports and ledger of brokers, agents, and clients.
  • Maintains Audit Trail: BMS software keeps a log of all transactions and ledger posting. The reliability and accuracy can be easily traced as it maintains an audit trail of every transaction.
  • Efficient Communication: BMS enables the users to create a mailing list of clients and agents. It helps in sending emails or SMS to clients and agents regarding their commission/ brokerage.
  • Up-to-date Ledger Preparation: Brokerage management software integrates with accounting software, making it easier to prepare a correct ledger of brokers, clients, and agents.
  • Increases profitability: The software enables real estate and stockbroking companies to get real-time information on individual brokers, clients, and agents. It is easier to identify the most profitable clients, agents, and brokers.
  • Reduces Cost: It reduces staffing by automating the calculation and reducing the manual data entry process. It helps save costs on human resources.
  • Maintains Regulatory Compliance: Brokerage management software helps calculate TDS deductible, payable, and GST on brokerage charges. It helps businesses stay compliant with GST, Income tax, and other regulations.
  • Valuable Information and Insights: BMS helps businesses get valuable information to identify the most consistent and reliable agent, product, or sector.

Who Can Use Brokers Management System?

Anyone who pays or receives brokerage from multiple companies, agents, or clients should use the commission management system. Here are a few primary users of the broker's management system.

1. Real Estate Broker Software for Real Estate Brokers

The real estate industry is the most significant user of brokerage software. Every real estate company collaborates with hundreds of brokers, agents, and companies. With different brokerage rates for each collaborator, maintaining an updated database of each agent and their transaction becomes quite challenging.

Real estate brokerage management software helps real estate companies accurately calculate the brokerage of all the agents, brokers, and collaborators. It also helps housing companies maintain an accurate and up-to-date ledger of each broker.

BMS helps real estate business to conduct their transactions more efficiently by reducing human error and saving time. It helps the company to identify the most profitable areas and consistent brokers.

2. Insurance Broker Software for Insurance Brokers

Insurance companies are among the most significant users of brokerage management software. Insurance companies use brokerage software to calculate commissions on insurance and reinsurance, TDS deductible, and payable amount.

A brokerage management system helps insurance companies to maintain an up-to-date and accurate ledger of their agents to ensure that they are getting their fair share of brokerage. It also appropriately calculates the commission on reinsurance and upscale.

BMS calculates TDS deductible on the agent's commission and aggregate TDS payable at the end of every month. It helps insurance firms to retain the best agents and access profitability on different insurance plans.

3. Brokerage management software for Stock Broking Firm

Stockbroking firms use the brokerage management system to calculate brokerage receivable from their clients. BMS is highly beneficial to stockbroking firms as they are directly dependent on brokerage and commission for profitability.

Brokerage calculation software enables them to maintain detailed and accurate records of all their client's transactions and brokerage earned from each client. It also helps them maintain GST compliances on brokerage charges.

Stockbroking firms use brokerage software to identify their elite customers and retain them. It also provides self-service portals for clients, allowing them to view their brokerage charges.

Key Features of Brokerage Management Software

Brokerage/Commission Calculation: Brokerage software calculates the exact and aggregate commission payable to the agent or broker based on the transaction amount and commission rate.

  • TDS Calculator: Brokerage management software calculates TDS deductible and aggregates TDS payable. It also calculates interest and penalties on overdue and unpaid TDS amounts.
  • Agent Management: The brokerage management system helps in agent onboarding, management, and exit. It also lets you track the history and performance of agents to identify and reward the best agents.
  • Client Relations: Brokerage management software's CRM module helps build a relationship with your clients through detailed reports about their transactions.
  • eSignature: Some brokerage software has built-in digital signing capabilities for agent onboarding, documentation, approval of brokers ledger, etc.
  • Trade Order Entry: Brokerage management software captures trade orders in real-time, allowing brokers to view all outstanding orders along with details of entered trades.
  • Portfolio Management: The software helps stockbroking firms maintain an accurate list of clients and their portfolios so that managers can monitor them properly.
  • Reporting: Brokerage management software generates valuable reports that provide a detailed picture of the company's profitability.
  • Integration: BMS provides seamless integration with real estate management systems, accounting systems, and MIS and reduces manual data entry.
  • Client Self Service: Brokerage management software allows clients to check their brokerage, opening balance, trade orders, and ledger status. It also helps them track their leftover credits.

Author: Kalpana Arya

Brokerage Management Software FAQs

Sahiwala Property Agency Management Software and Aarvi Real Estate Solution are considered the best real estate brokerage management software.

Many stocks brokerage management software are available in the market that helps in brokerage calculation and client ledger maintenance. Among them, Evolve BMS and BrokerMint are widely regarded as the best stockbroker software. 

Best freight brokerage software is a little difficult to pick as each of them has a different specialization. However, Evolve BMS, Freightview, and ITS Dispatch are the most popular freight brokerage software. 

The brokerage management system for stockbroking firms should have features like third-party integration, accounting, client ledger posting, web access, etc. the most popular broker accounting software for the stock market are BrokerMint, Total Brokerage, and HyperStock.

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