BrokerMint Review: Prices, Features, Reviews, and Alternatives

brokermint screenshotThe real estate industry is not easy to navigate. Agents and brokerages must stay organized to ensure they seize every opportunity, handle transactions effectively, and provide optimal customer satisfaction. The right technology is essential. 

BrokerMint is a tool that provides comprehensive assistance throughout the real estate process. It covers every aspect of a transaction from lead to close. It offers efficiency, scalability, and optimized organization. 

The system sounds good on paper, but is it right for your company? Read on to learn more about what it offers. 

Quick Summary of BrokerMint

BrokerMint is a cloud-based real estate and brokerage back-office management tool. It streamlines operations for optimal efficiency. It has helped over 1500 brokerages and more than 65,000 agents process over 400,000 transactions per year. 

The company was founded in San Diego, CA in 2014. Its innovative transaction management and Commission Automation made it a disruptor to the industry. It has since expanded its platform to include accounting, agent management, reporting, e-signature collection, compliance forms, commission automation, and other features. 

The platform was acquired by BoomTown, a top cloud-based real estate sales and management organization. The acquisition brought more value to the service. It is now one of the industry’s only integrated solutions for overseeing every aspect of real estate transactions. 

Brokermint puts all the information brokers need into an intuitive dashboard. With one click, you can track all listings, pending sales, and rent release transactions. You can create unlimited checklists and templates customized to meet your business needs. 

The tool also provides streamlined organization throughout organizations. You can use it to assign tasks, upload documents, and share feedback. It provides notifications regarding which tasks are complete and which are due soon and posts timely reminders. 

The system was built by brokers for brokerages. Free demos are available. 

BrokerMint Features

brokermint screenshot4There are a few features that helped differentiate BrokerMint from other all-in-one back-of-house solutions for me that I want to share with you.

As I mentioned, there are several platforms to choose from so hopefully considering these will help you expedite your own research.

Transaction Management:

BrokerMint offers a centralized hub that automatically monitors activity. It ensures a seamless process and helps users meet deadlines. It includes: 

  • Checklists: Users can customize checklists that allow them to manage their documents and details. They can communicate with clients and colleagues and close deals faster. 
  • eSignatures and Compliance Forms: The system sends forms securely, collects eSignatures, and provides seamless documentation. The pre-populated templates simplify the process. 
  • To-do Lists: BrokerMint’s to-do lists help you stay organized. They provide reminders, alerts, and a snapshot of your daily tasks to ensure you stay organized. 
  • Audits: The system will automate your records so they can easily be located, exported, and reviewed. You can audit your systems and ensure compliance with local regulations. 
  • Buyer Offers: Simplify the buying process with the ability to view your full pipeline on one page. 

Commission Automation:

The platform’s commission automation helps you achieve a transparent system. It provides breakdowns for every transaction and team member and eliminates time-consuming errors. It offers:

  • Unlimited Commission Plans: You can create commission plans according to your business needs. Account for factors like splits, sliding scale, fees, and caps. Create, configure, and edit plans as needed. 
  • Commission Calculation & CDAs: BrokerMint will automatically apply commissions to transactions, track deposits, and generate commission disbursement authorizations (CDAs). 
  • Agent Statements: The tool will generate commission statements to reveal detailed breakdowns that promote transparency within your teams. 
  • QuickBooks Integration: BrokerMint seamlessly integrates with QuickBooks to track commissions and disbursements and increase profitability. 
  • Quality Support: A team of experts will ensure you have a handle on the system so you can use plans and templates to your advantage. 

Accounting:

Accounting is a task agents and brokers may not have time to deal with. BrokerMint makes it easy. The intuitive system allows you to seamlessly record transactions and organize financials. 

Key features include:

  • Cash Flows: The platform offers flexible, customizable technology that you can use to keep records and manage accounts. It provides a transparent view of your cash flow, so you get an overview of your financial activity. 
  • Agent Billing: The agent billing tracks balances to boost profitability. The system will send or split invoices, accept credit cards, and reduce reliance on manual systems. 
  • Monthly Statements: The software automatically generates monthly statements and emails detailing monthly activities. Agents will see a full breakdown of what they owe ensuring transparent reporting. 
  • Commissions and Expenses: BrokerMint tracks expense activity for better financial planning. It also offers simple and secure ACH payments that ensure next-day deposits. 
  • QuickBooks Integration: The system’s accounting feature integrates with QuickBooks to provide an intuitive system that oversees financial activity. 

Agent Management:

brokermint screenshot5The agent management system will keep teams organized, up-to-date, and motivated. It will assist with agent onboarding and make office work a breeze. It offers: 

  • Agent Profiles: Personalized profiles will track activity like commissions, transactions, and calendars for each agent providing performance details in a centralized location. 
  • Onboarding: Onboarding checklists and reminders will promote organization during the onboarding process. 
  • Goal Setting: Goal setting will promote friendly competition and keep agents focused on results. 
  • Team Management: Team management tools will keep track of commissions, performance, and other metrics, so teams can create and compare rosters.  
  • Agent Platform: A centralized platform reduces busy work so agents can focus on closing deals. It will help them manage every aspect of their business. 

Reporting & Analytics:

BrokerMint’s reporting and analytics will monitor your activity and provide metrics that keep you up to date on progress. You can use reporting templates or customize them to meet your business needs. They reduce errors and obstacles that can present roadblocks. 

  • Dashboard: The dashboard will allow you to view cash flow, progress, and other statistics so you can focus on company goals. 
  • Report Builder: Native reports can be customized to your needs. They can be saved or imported to Excel. They provide an instant view of your data that you can use to your advantage. 
  • Transaction Analytics: Every transaction is tracked to provide details on sales volume, lead performance, and listings. You can compare them to past performance to determine which activities produce optimal ROI. 
  • Agent Performance: Track teams within your office or across multiple offices to determine who is providing optimal performance in terms of volume and commission.
  • Dash Integration: Dash is a popular report management tool. Brokermint integrates with Dash to sync listings, personnel, and transactions. It reduces the risk of duplicate data.

Partner and Referral Programs: 

You can earn $500 for any client you refer to the company that stays in good standing for 90 days. Their partner program allows users to connect their technology and software with the BrokerMint platform. Contact the company to determine the best way to start your relationship. 

Pricing

BrokerMint provides a standard and professional plan. Each plan has a set-up fee which varies with customer needs. Each extra connection is $49 a month. 

The Standard Plan includes: 

  • Team Management 
  • MLS Integration
  • QuickBooks Integration
  • Dashboard
  • Transaction Management
  • Checklists and Tasks
  • eSignature and Forms
  • Commission Automation
  • Reports
  • Mobile App

The Professional Plan offers all the features of the Standard Plan as well as:

  • Accounting 
  • Agent Billing
  • Next-Day ACH Payments
  • Agent Onboarding
  • Multiple Office Locations
  • CRM Integration
  • API Access
  • Custom Branding
  • Single Sign-On (SSO)

You can book a free demo through the website to determine which plan is best suited to your needs. 

Pros and Cons of BrokerMint

brokermint screenshot3BrokerMint has earned mostly positive reviews online. Negative reviews were also published. Here’s what people are saying: 

Pros

  • Ease of Use: The program is intuitive and easy to understand. Many users agree that there is not much of a learning curve when using the program. 
  • Quality Support: The platform offers various user resources. Several articles are posted online and divided into categories to provide information for admins, agents, developers, and mobile app users. You can also use the chat feature to connect with bots and live agents or call the number at the top of the website. 
  • Reduces Manual Labor: BrokerMint automates processes minimizing the need for manual labor. It makes workflows more efficient and allows workers to focus on more pressing needs. 
  • Reduces Paper: Users can store and send various documents within the program to reduce their reliance on paper. It minimizes the hassle of organizing paperwork and presents a sustainable alternative. 
  • Boosts Transparency: Commission breakdowns and agent reports allow agents to track their progress to promote transparency within the workplace. 
  • Reduces Errors: Automated systems and a reduced need for data entry reduce time-consuming errors. 
  • Boosts Employee Motivation: Features like agent performance and goal setting motivate employees so they become more productive. 
  • Secure System: The platform allows you to send documents and collect eSignatures securely. 
  • Customizable: Templates, reports, and other features can be customized to meet company needs. 
  • Convenient Communication: Auto email and other tools make it easy to stay in touch with clients.
  • Mobile Apps: BrokerMint can be downloaded through Android and Apple devices to provide mobile capabilities. 
  • Comprehensive Integration: The platform integrates with CRMs, MLS, QuickBooks, and Dash acting as a centralized hub for business activities. 

Cons

  • File Loss: Some users have complained about losing files after they are unassigned.
  • Complex signature Collection: Negative reviews state the platform requires companies to create multiple emails to request multiple signatures for files.
  • Expensive: While some customers are happy with the cost, others have complained that the software is too expensive. 
  • Cannot Export Documents: Documents, contacts, and transactions cannot be exported limiting sharing functionalities. The system will also hold your data after you cancel the service. 
  • Limited Transactions: The platform is unable to handle all types of real estate transactions. 

Who is BrokerMint Best For?

  • Small Companies
    • BrokerMint is recommended for residential real estate companies with 1-1000 employees. Companies with more employees may need a more robust system to integrate transaction management. 
  • Offices Looking to Streamline and Modernize
    • The platform is ideal for companies that wish to make a digital transformation. The intuitive system is easy to teach so your team can get on board with new technology.  
  • Brokerages That Wish to Integrate Finances
    • The platform provides a solution for accounting, transaction management, and commission tracking. It streamlines finances to boost efficiency. 

Who is it Not Right For?

  • Larger Companies
    • Larger companies may require a more robust platform. 
  • Upgraded Brokerages
    • Companies that have already upgraded to new digital systems may not need Brokermint. However, they may consider the platform if they are not happy with their existing systems. 

BrokerMint Alternatives

brokermint screenshot2Dotloop 

DotLoop is an alternative transaction management software. It helps brokers increase compliance, track transactions, digitalize paperwork, and sync their back office. Teams can use it to increase brand awareness, utilize transaction templates, and get real-time notifications. Agents can use it to collect e-signatures, transact on the go with the mobile app, access forms, and track activity. 

Agent pricing is $31.99 a month. Custom pricing is available for teams and brokers. 

Sisu

Sisu promotes brokerage and team communication. It offers data-driven coaching and analytics, goals, and sales contests. Other features include transaction management, back-office reporting, financial and commission management, a seamless system for unifying CRM, sales, and transaction data, and an improved vendor network with a seamless transaction experience.

The system offers customized pricing and a free trial. 

Total Brokerage

Total Brokerage advertises itself as the world’s most comprehensive brokerage platform. It offers a robust SaaS platform, expert brokerage consultation, and top-notch customer support. Features include lead management, CRM, marketing, transaction management, e-signatures, commission, reporting, onboarding, human resources, intranet, API & Zapier, auditing, and history. 

The platform provides pricing for small & midsized brokerages and teams and enterprise pricing for mega brokerages. Contact them for a custom quote. 

Jointly

Jointly provides an efficient system for communication, document handling, and closing deals. It offers a simplified platform for drafting compliant documents, automated checklists and reminders, seamless communication, easy transaction approval, valuable insights, and tenant screening and approval. It provides solutions for agents, brokerages, teams, property managers, and transaction coordinators. 

The platform offers a free starter program. Its Pro program is $49 a month. Customized pricing is available for business and enterprise customers. 

Conclusion

BrokerMint offers a convenient way to manage your real estate business. Its customizable tools, intuitive system, and automated processes simplify real estate transactions. It is perfect for modern firms that are on the verge of a digital transformation. 

Will you integrate it into your technology suite? 

 

About the Author

Jim Gray got licensed in 2013 and sold 57 houses in his first year. Over the next 6 1/2 years he went on to sell 437 homes with a small team. He went on to manage the lead generation department of the 13th largest expansion team at Keller Williams and designed lead generation and conversion systems for 60 agents in 7 locations in 4 states that drove 600 home sales in a 2 year period. Jim currently does real estate team development and coaching for some of the largest real estate teams in the country.

Last Updated: 3/19/2024