How do you keep your finances organized as a real estate agent or broker?

This is especially important for high producers. There may be tax benefits to setting up as an S-Corp if you have the volume to keep up with it. That being said, once incorporated, personal spending out of business accounts is a big no-no. This could result in losing the legal protection of operating as an entity.

The most Important decision I took, during advance days of my Real Estate Journey is getting a Separate Accounts for Different Activities. - 1 account for all my Big, Regular Expenses like, Rents, Salaries, EMIs - 1 Account for Irregular Business Expenses like, Advertisements, Electricity, Internet and other Miscellaneous Charges - Another Account purely for Savings. There is no Debit Transaction in this Account, until and unless the amount is huge enough to be Invested in some kind of Asset - One more account for looking after my personal day to day housel hold expenses.

I loved old traditional ways of budgeting with an Excel Sheet. Distributing the portion of Funds in each Account, the moment Cheque or payment is received. Though I also use Apps like Spendee and other trackers for short or project based durations.

I use customized Trackers on Excel to track all my Expenses. It gives me control on my expenses and helps me budget accordingly for the next month or so.

The Account that look after my irregular office expenses also pays for my Advance Taxes. I have made a habit of saving enough amount for my taxes and pay them in advance. This helps me to avoid burden at the end of the year with lumpsum amount at once

Though professionals can help you manage your Finances much better, but having enough knowledge and experience will always give you the most fruitful results. My father, being an Accountant, taught me well enough that I am now able to manage my finances properly, Plan for Future requirements and always maintain an Emergency Fund, whenever neede.

Although I am a tad bias here, I am a believer in highest value activates. Outsourcing mundane tasks can result in a boost to revenue if the time savings is invested into buiness development.

When you're in Comission Sales it's vital to budget Here's the basics: 1) Figure out all your personal fixed and variable expenses you anticipate during the year 2) Break them down to a monthly amount 3) This is how much you will need to live on to keep yourself and family, insured, sheltered, and fed which will include transportation cost 4) Set some goals to have savings, money, set aside for retirement and specific purchases, like vacations, education, etc. -------- Plan your business around making enough to take care of yourself and your family and meet your goals and more. Make sure you have six months of living expenses set aside in your personal account. Do the same for your business.