Xero bookkeeping for real estate agents

What we keep in Xero for an agency

Everything below sits in the agency's general ledger in Xero, not in trust.

• Commission recorded once it is received into the agency's own account, against the sale it came from, with any deduction booked only when the statement that came with it shows the amount.
• Conjunctional sales where your agency pays the other agency's share: that share entered as a bill once both sides have confirmed the split.
• Marketing and advertising bills from portals, photographers, sign makers and printers entered when they come through, with the listing address noted on each so campaign costs can be traced.
• Franchise or network fees, levies and marketing fund contributions entered from the network's statement as bills, with any charge you do not recognise queried before payment.
• Agency car costs such as fuel, servicing, tolls and insurance coded to vehicle expense accounts, so the running cost of the cars is clear.
• Software subscriptions, including your CRM and listing tools, plus phone and internet bills, matched to the card or bank payments they came from.
• Each month, Xero's record of the agency's business bank and card accounts set against the statements, with differences explained and trust account transactions kept out of it.

Businesses by main state or territory

These counts are for the ANZSIC class Real Estate Services, which includes property valuation, auctioning and management services as well as real estate agencies, so they describe a wider group than agencies alone.