Client Talent Management - Accounting

Accounting Questions


Confirm and verify the financials we have in the Db
Is your Business an LLC, Corp, Sole Proprietor?
Is it the only Business? Design? Property Management?
Do you own a Brokerage?
What Franchise? What do they cover?
How many Agents?
How are they paid? Amount? Split? Hours they work? Who pays, you or Franchise?
Accountant/Tax Person? How are they paid? How much? Rating? A,B,C
Ask for priory tax Returns to do Audit with Books?
Bookkeeper? Duties? onsite? Paid? number of hours? Rating? A,B,C
Quickbooks? Which Version? Can we get R/O Access?
How many Staff?
How are they paid? Amount? Hours they work?
Do you have a payroll company?
How many Bank Accounts?
Do you or Employess use Company Credit Cards?
How many Credit Card Accounts?
Do you have Debt? Loans?
Do you pay Rent? Own building?
Ask for Copy of P&L if we don't have it yet, If we do have it then go over it and analyze

  • Income - Is it Gross? Before Franchise Splits? Describe Splits?
  • Make sure income catagories split out
  • Franchise/Brokerage fees need to be split out and cataorized.
  • Expenses - How much is spent on Marketing? %
  • Make sure expenses make sense

What are your expectations? What are you trying to accomplish?


How long have you worked there?
What is your job description/role ? What do you do?
Break down your hours? and Tasks?
Do you work onsite? Virtual? Both?
What type of sofware do you use? Quickbooks?

Get from them: P & L Current and Last year comparison
Balance Sheet
Chart of Accounts

Notes from a Profit Review Call

**Client Ben - Call with Steve and Tracey - 10/10/17**

Action Items


  • Connect with other brokerages to share information about financials and learn
  • Decide about Business Model and make sure set and known (Splits, fees, etc)
  • Work with BAB to clean Balance Sheet - Makse sure loans are accurately reflected on Balance Sheet
  • Make sure Interest expense is reflected properly
  • Consider Goals: What do you want or expect Net Profit to be in 2017,2018?
  • Consider Marketing budget % to spend here - separate from recruiting
  • Decide on versionn of Quickbooks to use and get rolling


  • Send Job costing report to Steve and Client to help decide if needed and which version of Quickbooks to use
  • Work with Agent to clean up Balance Sheet and Chart of Accounts


BAB Assistant Question:

  • Marketing Income Negative? Possible that this should be in Expense - Look at
  • Broker Fee 0 in 2016? It is a lump sum and 7 are included - Agents have own and in 2017 its about $250/mth - Agents pay but flows through brokerage
  • Marketing Exp 11K? This should be split out into what it is for
  • Payroll Decrease? No longer have Admin Employee


  • Our Focus is Net Profit not GCI
  • Differes from most other Coaching Methods

  1. Business Model - Develop this, What does yours look like? What should it look like?
  2. Agent should connect with other Brokers to share financials and see how others are doing it and learn.
  3. Revise Financials
  4. What the Balance Sheet reflects is important

Agent asked about what Steve meant about Business Model - Determining how things are set up:

  • How are splits done (Current 90-10, varies by agent)
  • Commissions
  • Transaction Fees
  • Revenue - Mortgage and Title - none
  • Rents
  • Loans set up

Balance Sheet

  • Work with BAB to clean up
  • Make sure loans are accounted for and accurate

Expense Side

  • Can split Variable and Fixed
  • Fixed (Rent, Core Internet, Etc)
  • Variable (Marketing, Labor)
  • Steve asked about Recruiting $100 - Probably mixed in with other things - need to clean up
  • Steve asked about Agent C Pierce - Why 92K in GCI but paid only $52K on the books?
  • Some is paid directly to Agent at settlement
  • Steve suggested finding out how to best account for this - Ask Accountant?

  • Is Interest Expense reflected correctly?
  • Marketing Budget? - Separate from Recruiting - Consider this and the amount % to spend here
  • Current Bookkeepr has it 80-90% there - Clean up Chart of Accounts and mis catagorized expenses etc.


  • Steve asked about Admin help:
  • Currently have 3 that are International Interns - working well
  • J1 Visa
  • 2 short term $500/mth
  • 1 longer term $800/mth

  • Agent Needs Listing Assistance to get some stuff off his plate
  • Steve suggested Interns, BAB or someone else?
  • Possibley getting another Agent to assist for $20-$30/hr

  • Good Call
  • services/client_talent_management/talent_management_-_accounting.txt
  • Last modified: 2018/07/21 20:03
  • by raquelmartin