How CommissionTrac helped a multi-office brokerage avoid hiring additional accounting staff
NAI Dominion is a privately-held commercial real estate firm headquartered in Hampton Roads and Richmond, Virginia. Working with 10 brokers. The NAI Global Network completes over $20 billion in combined transactions annually and manage 425 million square feet of commercial space with clients ranging from Fortune 500 companies, banks and investors to private institutions and small businesses.
“CommissionTrac provides us a single location to track deals as well as individual goals and progress.”
— Patrick Reynolds, NAI Dominion President
NAI Dominion, like many other brokerages, was using Excel spreadsheets to input data for sales & leasing commissions. This had a rippling effect through the organization. Calculating yearly totals and commissions, once checks were received, became a extremely time consuming ordeal. In addition to this, not having a centralized location to track deals, required them to use manual processes every time management or agents needed specific reports. Once they opened a separate office with remote agents, NAI Dominion understood they needed find a solution that streamlined their back office process while offering easy access to login from any location. They either needed to automate and streamline process, or they were going to hire another full time accounting team member.
Through all the time we’re saving with CommissionTrac, I can get everything done quickly for the brokerage, which allows me to spend more time helping with our other business operating multi-family properties. As our two companies have grown, we didn’t need to hire any more people because of time I now save with CommissionTrac.
— Tracey Barden, Accounting Manager
After a year of using CommissionTrac, NAI Dominion has been able to increase overall back office organization in a multitude of ways. As a result of getting away from using multiple spreadsheets, Tracey saw major time savings when processing commissions and tracking agent splits. CommissionTrac has also provided the NAI Dominion team a single location to track deals whole also storing their transaction history for commissions paid.
(over 12 months)
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