Realtyzam is cloud-based accounting software designed for real estate agents. It helps you track commissions and expenses by generating a profit and loss (P&L) report for taxes and monitor sales activity so that you can see which aspect of your business is the most profitable. It also lets you connect your bank and credit card accounts, upload and organize expense receipts, and run the reports you need for filing tax returns.
The platform costs $14 per month when billed monthly and $11.95 a month when billed annually. You can use it for free for 30 days and keep using it beyond that period until you sell two units or accumulate $3,000 in income and expenses, which should be entered in the app. User reviews about Realtyzam from application marketplaces are positive, with emphasis on its excellent expense tracking features.
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- Pros/Cons
- Deciding Factors
- Best For
Pros
- Is more affordable than most other real estate accounting programs; free until you close two deals or log $3,000 of income
- Allows you to set up bank feeds for easy import of transactions
- Lets you track key metrics (average commissions, prospecting, buyer and seller conversion rates, and sales prices)
- Includes a handy mobile app for capturing expense receipts and tracking mileage
Cons
- Doesn’t track assets and liabilities, so you can’t compile a balance sheet
- Won’t let you reconcile your bank account
- Lacks essential bookkeeping features, such as invoicing, payroll, and bill management
- Won’t allow you to speak or chat with customer service
Pricing & Scalability | Realtyzam pricing starts at $14 per month for one user but is free until you sell two properties or log $3,000 of income and expenses |
Discounts | $11.95 per month if billed annually |
Free Trial | 30 days |
Money-back Guarantee | ✕ |
Standout Features |
|
Customer Support | Online support ticket |
Average User Reviews | Mixed reviews on mobile app stores; users like that it can import bank transactions and commented that the app lacks optical character recognition (OCR) for receipt uploads |
- Unincorporated real estate agents: We strongly recommend Realtyzam for real estate agents who are self-employed because it tracks costs for each property deal separately. You can use it to monitor your commissions and expenses without any traditional bookkeeping tasks.
- Real estate agents without accounting experience: Realtyzam has a very simple and streamlined dashboard with no crowded sidebar menu and drop-down lists, making it easy to navigate. On top of that, the ability to set up bank feeds eliminates the need for manual data entry. It’s our best real estate accounting software for real estate agents.
- Sales and marketing teams: If you’re willing to pay the additional fee, then you can use Realtyzam’s customer relationship management (CRM) module to track every interaction with your leads and record any sales activities.
- Agents who drive for business: The Realtyzam mobile app allows you to record your business trips for tax deduction purposes.
Are you looking for something else? Check out our roundup of the best small business accounting software to find a general-purpose bookkeeping solution that is right for your real estate business.
Realtyzam Alternatives & Comparison
- Comparison
- Use Cases
Monthly Pricing | Number of Users | Number of Units and Locations | Online Payments | |
|---|---|---|---|---|
| $14 | 1 | ✕ | ✓ |
| Starts at $30 | 1–25 | Unlimited | ✓ |
| Starts at $4.99 | 1 | Unlimited | ✓ |
| Free | Unlimited | Unlimited | ✓ |
Best For | Learn More | |
|---|---|---|
| Businesses that require a balance sheet: Realtyzam isn’t a double-entry bookkeeping system. It cannot generate the basic financial statements like QuickBooks Online. | Read our QuickBooks Online review |
| Nonagents who lease out property: Quicken is a great personal finance app that includes rental property management features. Since Realtyzam is made for real estate agents, non-agents may want to consider Quicken instead. | Read our Quicken review |
| Rental companies looking for free software: Baselane offers a free platform wherein you can collect rent, manage unlimited properties, and perform banking functions. | Read our Baselane review |
Realtyzam Reviews From Users
| Users Like | Users Dislike |
|---|---|
| Import bank transactions | Time consuming to add receipt images in transactions |
| Less complicated to use than QuickBooks | No OCR for receipt uploads |
| Expense tracking | Buggy mobile app |
There is no Realtyzam review on user review websites, so we based all information from Google Play and App Store reviews. Those who left positive comments mentioned that Realtyzam helped in tracking expenses and creating reports, whereas some complained that the mobile app is buggy at times and has no OCR features.
Here are Realtyzam’s ratings from app stores:
- Google Play[1]: 4.7 out of 5 based on around 30 reviews
- App Store[2]: 4.9 out of 5 based on more than 200 reviews
Realtyzam Pricing
Realtyzam is available for $14 a month when billed monthly and $11.95 a month when billed annually, and it offers a free 30-day trial with no credit card required. Agents can continue to use it for free after 30 days until they sell two properties or log $3,000 in income and expenses.
Realtyzam Features
We discuss the salient features of Realtyzam and how this solution can help real estate agents manage transactions and deals.
One thing we like about Realtyzam is its streamlined dashboard, which includes only the features you need to track your sales activity. The Realtyzam homepage contains five menus:
- Dashboard: This serves as your landing page when you sign in. It shows an overview of your financials.
- Sales activity: Go to this tab if you need to monitor your sales activities and commission payments. Other things you can track here include lead sources, discounts, broker fees, and income and expenses on each deal.
- Expenses: This is where you would record all your expenses. You can choose to connect your bank accounts, upload your files of transactions on Realtyzam or enter your expenses into the system manually.
- Income: This displays a detailed breakdown of your income. You should also use this page for entering income, such as interest income and side business.
- Reports: This is where you can generate P&L statements that you or your accountant may use to file tax returns.
Realtyzam’s dashboard
Realtyzam lets you set up bank feeds from more than 15,000 financial institutions. Bank feeds help you import your transactions into the program easily without having to use the keyboard for manual data entry. When you link your bank accounts and credit cards to Realtyzam, it’ll transfer all transactions to your account automatically.
You can classify your expenses manually or automatically to keep track of your financial numbers. If you’re uncomfortable connecting your bank or credit card account, you can manually import your bank statements.
You can categorize your expenses by choosing from a list of default categories or adding new ones. Categorizing your expenses can be helpful for budgeting purposes and keeping your finances organized.
When entering new expenses, Realtyzam lets you select from a list of preset categories, such as listing, capital equipment, licensing and filing fees, and miscellaneous. You can also add new categories on the fly, if needed.
Assigning a category to a new expense in Realtyzam
We like that the reports can be presented in different views, such as summary view, list view, monthly view, and vendor view, allowing you to understand your numbers better. The GIF below shows how you can do this within the app.
Presenting data in different views
You can track how much money you make on a client or deal. Realtyzam allows you to generate reports showing your commission, miscellaneous income, and referral income. You can even track income based on lead sources so that you’ll know which client or deal makes you the most money.
The Sales Activity page is where you record all the real estate transactions that you’re working on, whether they’re closed or not yet. You can record a new activity (for a buyer, seller, or referral), and you’ll have the option to set the status of the deal until it’s closed. For instance, you can enter a new buyer and set the status to Prospect or Active.
When the deal is closed, change the status to Sold, provide the transaction details, such as the closing sale, closing date, and commission, and Realtyzam will record the commission as an income.
Closed deal recorded in Realtyzam
You can generate simple yet helpful reports to help you track key metrics, including average commissions, prospecting, buyer and seller conversion rates, and sales prices. Realtyzam also lets you monitor other items like listing and buyer expenses and new buyers and sellers.
You can sort the reports on an annual or monthly basis and even set the reports tab to show only the lead sources of your income. You can also print the stats reports so that you can share and discuss them with your agents or stakeholders during meetings.
Sales activity reports in Realtyzam
Upload your expense receipt, and it’ll link it to an expense transaction automatically. This makes it easier to pull up a receipt whenever needed. You can upload receipts using your tablet, computer, or mobile device with the Realtyzam mobile app.
Realtyzam has a CRM module, which requires a separate subscription, and it helps you store and manage client information, record notes, save documents, and track sales activity. You can also create reports on prospecting rates, average commissions, and even lead sources. As with the accounting software, it’s free for the first 30 days.
Realtyzam Ease of Use
Since Realtyzam has fewer features than most accounting software, it’s extremely easy to use, even for beginners and nonaccountants. You’ll love how easy it is to create a buyer pipeline or listing on the Listings page. After a sale, you can set the status to sold, and Realtyzam will generate an income transaction automatically for you.
On the downside, Realtyzam lacks personalized customer support. If you have questions or concerns, you need to send your question via email and wait for a response. The provider says that questions sent during business hours are typically answered within two hours. If you want to get answers to simple questions, you may check out the Frequent Questions page on its website or browse through its real estate accounting blogs.
Frequently Asked Questions (FAQs)
No, you can’t, as Realtyzam is currently available only in the United States.
No, it doesn’t, but you can use it alongside a third-party accounting solution. For instance, you can use it to monitor your closings and commissions while using QuickBooks Online to track business mileage, monitor cash flow, and manage payroll.
Yes, you can. Realtyzam will email your data in an Excel format for free.
Bottom Line
If you need simple accounting software to track your income and expenses and generate the tax reports you need instantly, Realtyzam is worth considering. It may have some weak points, such as the inability to reconcile your bank account and the lack of advanced bookkeeping functions but it’s an excellent solution for tracking expenses and commissions.
User review sources:
[1]Google Play
[2]App Store
