This article is part of a larger series on Accounting Software.
Realtyzam is cloud-based accounting software designed to help real estate agents track their expenses, import transactions, and generate profit and loss (P&L) reports for tax filing. Its features include bank account and credit card integration, automated data entry, and receipt upload. Realtyzam is available for $12 per month billed monthly or $9.95 per month billed annually. You can use it for free for 30 days with no credit card required.
What We Recommend Realtyzam For
We strongly recommend Realtyzam for real estate agents who are self-employed because it tracks costs separately for each property deal. You can use it to track your commissions and expenses without any traditional bookkeeping tasks.
Realtyzam Is Especially Good For
- Real estate agents: Realtyzam is tailored exclusively for real estate agents to help them track their commissions and expenses by listing and generate a P&L report for taxes. If you want to explore other real estate accounting programs, read our article on the best real estate accounting software.
Realtyzam Is Not a Good Fit For
- Limited liability companies (LLCs), partnerships, and corporations: Realtyzam is not a double-entry system, so there is no balance sheet to track assets and liabilities. If you need a more robust accounting program, read our guide to the best small business accounting software.
- Property owners and managers: You can’t manage rental listings, tenant screenings, and online payments with Realtyzam. You might want to consider Buildium instead if you are a property manager.
Are you looking for something different? Read our guide to the best small business accounting software and check out our top picks.
Realtyzam Pros and Cons
|More affordable than most other real estate accounting programs||Doesn’t track assets and liabilities, so it can’t produce a balance sheet|
|Offers a free trial and a special deal for new agents||Cannot reconcile your bank account|
|Extremely easy to use||Lacks essential bookkeeping features, such as invoicing and bill management|
|Good mobile app||Cannot speak or chat with customer service|
Realtyzam Accounting Software Pricing
Realtyzam costs $12 per month when billed monthly and $9.95 per month when billed annually. It offers a free 30-day trial with no credit card required. New agents can continue to use it for free after 30 days until they sell two properties or log $3,000 of income and expenses.
Real estate agents use Realtyzam to track their income, expenses, sales activity, sales price, average commission, and other metrics to stay on top of their financial numbers. You might want to explore its features for 30 days for free. It’s painless to set up, and you can cancel at any time.
From your dashboard, you can instantly access important sections, including Sales Activity, Expenses, Income, and Reports:
Bank Account and Credit Card Linking
Link your bank accounts and credit cards to Realtyzam, and it will transfer all transactions to your account automatically. You can classify your expenses manually or automatically to keep track of your financial numbers. From this data and your commission information, the program creates a P&L statement that your accountant can use for tax filing.
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.
Upload your expense receipt on Realtyzam, and it will link it to an expense transaction. 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.
With 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 can generate quarterly or annual reports that you need for tax filings. The reports are generated automatically and will provide your accountant or tax preparer with everything they need to do your taxes.
Realtyzam has a client relationship management (CRM) module that helps you store and manage client information, record notes, save documents, and track your sales activity. You can also create reports on prospecting rates, average commissions, and even lead sources. As with the accounting software, it is free for the first 30 days.
The Realtyzam mobile application lets you track your expenses, log your mileage, manage sales activity, and generate tax reports instantly using your mobile phone. The app can be downloaded on Google Play and the App Store.
Customer Service and Ease of Use
I signed up for Realtyzam and was impressed with its extremely clean interface. Since it has fewer features than most other accounting software, it is extremely easy to use, even for beginners and nonaccountants. You will love how easy it is to create a buyer or listing on the Listings page. After a sale, you can set the status to SOLD, and Realtyzam will generate an income transaction for you automatically.
On the downside, Realtyzam lacks personalized customer support. If you have questions or concerns, you need to send your question and wait for a response. The provider says that questions sent during business hours typically are answered within two hours. If you want to get answers to simple questions, you can check out its Frequent Questions page on its website or check out its real estate accounting blogs.
If you need simple accounting software to track your income and expenses and generate the tax reports you need instantly, Realtyzam is worth trying. It may have some weak points, such as the inability to reconcile your bank account and the lack of advanced bookkeeping functions. However, it still offers great value for self-employed real estate agents who want to track commissions and expenses by listing easily. Personally, if I were a new real estate agent, I would give it a shot.
Sign up for a 30-day free trial and see how Realtyzam works for you.