Realtyzam - Detailed Review
Real Estate Tools
Realtyzam - Product Overview
Realtyzam Overview
Realtyzam is a cloud-based accounting software specifically created for real estate agents and brokers. Here’s a breakdown of its primary function, target audience, and key features:Primary Function
Realtyzam is designed to simplify financial tracking and accounting for real estate agents. It automates many of the tedious tasks associated with managing finances, such as data entry, expense tracking, and income reporting. This helps agents save time and focus more on their core business activities.Target Audience
The primary users of Realtyzam are real estate agents and brokers who need an efficient and user-friendly accounting solution. The software is built exclusively for this group, streamlining features to meet their specific needs.Key Features
Automation and Integration
Realtyzam eliminates the need for manual data entry by integrating with over 15,000 banks and financial institutions. It automatically imports transactions from linked bank accounts and credit cards, and can also categorize transactions automatically.Expense and Income Tracking
The software includes pre-built categories for common real estate expenses and income types. Users can add their own categories as needed and track every expense and income source. It also allows for receipt uploads and management, which can be assigned to specific transactions.Commission Management
Realtyzam automatically records commissions when a property is sold and marked as sold in the system. Users can set commission percentages and additional fees, such as broker or referral fees, which can be saved as defaults for future leads.Financial Reporting
The software generates essential reports, including profit and loss statements and sales statistics. These reports can be viewed in various formats (summary, list, monthly) and exported for print or sharing with stakeholders.Centralized Dashboard
Realtyzam provides a centralized dashboard that gives users a quick overview of their financial activities. This includes tabs for sales activity, income, expenses, and reports, making it easy to monitor and manage financial data.Mobile App
The software is accessible both as a web app and a mobile app, available on Google Play and the iOS App Store. The mobile app allows for mileage tracking and other on-the-go features.Document Management
Users can upload and manage documents such as bank statements and receipts, which can be assigned to specific transactions for easier tracking and reporting during tax season.Conclusion
Overall, Realtyzam is a straightforward and efficient accounting solution that helps real estate agents manage their finances with minimal effort, saving them significant time each month. Realtyzam - User Interface and Experience
Realtyzam Overview
Realtyzam is renowned for its user-friendly interface and ease of use, making it an ideal accounting solution for real estate agents.
User Interface
The user interface of Realtyzam is streamlined and intuitive. It features a simple dashboard that includes only the necessary tools for tracking sales activity, expense management, and income tracking. The homepage is organized into clear menus, making it easy for users to find what they need quickly. The UI is designed to be straightforward, even for those who are not accounting experts.
Ease of Use
One of the standout features of Realtyzam is its simplicity. Adding and updating transactions is straightforward, and the software prominently displays your current deals and stages. This ease of use is a significant advantage, as it allows real estate agents to manage their finances with minimal time and effort. Most users report spending less than 10 minutes a month on tasks that previously took hours.
Automation and Integration
Realtyzam integrates seamlessly with over 15,000 banks and credit cards, allowing automatic data feeds that download and auto-categorize transactions based on custom rules. This automation eliminates the need for manual data entry, saving users a significant amount of time and hassle. Users can also upload receipts and statements manually if they prefer.
Mobile App
Realtyzam offers a free mobile app that is as easy to use as the desktop version. This app allows users to upload receipts, track expenses, and manage their finances on the go. While some users have noted that the mobile app can be buggy at times, it generally receives positive feedback for its functionality.
Overall User Experience
The overall user experience with Realtyzam is positive, with 9 out of 10 users expressing satisfaction. Users appreciate the simplicity and intuitiveness of the software, which makes it easy to track expenses, generate financial reports, and manage tax-related tasks. The ability to generate reports quickly, especially for tax purposes, is a significant benefit, as it simplifies the process of providing necessary documents to accountants.
Drawbacks
However, some users have noted a few drawbacks, such as the lack of optical character recognition (OCR) for receipt uploads and occasional issues with the mobile app. Despite these minor complaints, Realtyzam remains a highly recommended tool for real estate agents due to its ease of use and effective financial management features.
Realtyzam - Key Features and Functionality
Realtyzam Overview
Realtyzam is a specialized accounting software designed exclusively for real estate agents, offering a range of features that simplify financial management and automate many tasks. Here are the main features and how they work:Expense Tracking
Realtyzam includes an Expenses section with pre-built categories that are commonly used by real estate agents, such as Capital Equipment, Estimated Tax Payments, Mileage, and Meals and Entertainment. Users can also create custom categories to fit their specific needs. This feature allows agents to log and track every expense, ensuring accurate financial records and reports.Income Tracking
The Income tab enables agents to track their income from deals or clients. Income can be input manually or pulled directly from linked bank accounts. Default categories include Commissions, Miscellaneous Income, and Referrals, and users can add new categories as needed. This helps in maintaining a clear breakdown of all income sources.Receipt Uploads and Management
Users can upload receipts through the desktop version or the mobile app. These receipts can be assigned to specific transactions, making it easier to track and reference them during tax season or for accounting purposes. The system automatically scans and links the digital receipts to the corresponding expenses.Bank Account and Card Integration
Realtyzam allows users to connect their bank accounts and credit cards, integrating with over 15,000 financial institutions. This integration enables automated data feeds, where transactions are imported and auto-categorized daily, reducing the need for manual data entry and minimizing errors. Users can also upload bank statements manually if they prefer not to link their accounts.Mileage Tracking
The Realtyzam mobile app facilitates the tracking of driving expenses. Agents can log their mileage, which is then recorded in the system for accounting and tax reporting purposes.Financial Reporting
Realtyzam offers several reporting features, including profit and loss reports, commissions, and buyer and seller conversion rates. Users can generate reports for specific periods using date filters. These reports can be exported and downloaded for print or shared with accountants and other stakeholders.Centralized Dashboard
The software features a centralized dashboard that serves as a landing page, providing a quick overview of the agent’s financial activities. The dashboard includes sections for sales activity, income, expenses, and reports, making it easy to monitor and manage financial data at a glance.Listing Page
The Listing Page allows agents to log and view all ongoing deals, whether they are prospective, active, or closed. Users can record transaction details such as closing sales, closing dates, and commissions, which are then automatically categorized as income.Data Exports
Users can export and download reports as well as their entire account data in Excel format, which is particularly useful when terminating the service subscription or for external accounting purposes.AI and Automation
While Realtyzam itself does not explicitly integrate AI, it heavily relies on automation to streamline tasks. The software automates data entry by importing transactions from linked bank accounts and credit cards, and it auto-categorizes these transactions based on custom rules set by the user. This automation significantly reduces the time spent on accounting tasks, allowing agents to focus on other aspects of their business.Conclusion
In summary, Realtyzam is designed to be user-friendly and efficient, saving real estate agents a substantial amount of time on accounting and financial management. Its features are tailored to the specific needs of real estate professionals, making it an invaluable tool for managing finances and generating necessary reports. Realtyzam - Performance and Accuracy
Performance of Realtyzam
Realtyzam is a cloud-based accounting software specifically created for real estate agents and brokers, and it boasts several features that enhance its performance:Automation
Realtyzam automates many time-consuming tasks such as bank reconciliation and invoice entry. It can download transactions from over 15,000 banks and credit cards and auto-categorize them based on custom rules, significantly reducing the need for manual data entry.Time Savings
Users report spending less than 10 minutes a month on tasks that previously took 1-2 hours. This automation helps real estate professionals focus on other aspects of their business.Integration
Realtyzam can be integrated with other real estate software, such as CRM and property management software, which streamlines processes and saves time.Accuracy
The accuracy of Realtyzam is a key benefit:Automated Features
The automated features in Realtyzam help reduce human errors in accounting, ensuring more accurate financial records. This is crucial for maintaining compliance and avoiding costly mistakes.Receipt Management
Realtyzam allows users to upload receipts for expenses, which are then linked to the corresponding transactions. This ensures that all financial records are accurate and easily accessible.Financial Reporting
The software generates accurate financial reports, including income statements, balance sheets, and cash flow statements, which help in tracking financial performance and identifying areas for improvement.Limitations and Areas for Improvement
While Realtyzam is highly praised for its simplicity and effectiveness, there are a few areas to consider:User Feedback
Although Realtyzam has been developed based on user feedback, there might be specific needs or features that some users find lacking. Continuous feedback and updates are essential to address these gaps.General Applicability
Realtyzam is specifically designed for real estate agents and may not be as versatile for other types of real estate professionals, such as large-scale landlords or real estate investors with diverse portfolios.Scalability
For users with more complex financial needs, such as managing multiple properties or larger financial transactions, Realtyzam might need additional features to handle these requirements effectively.Conclusion
Realtyzam is highly effective for real estate agents looking to streamline their accounting processes, save time, and improve accuracy. Its automated features, ease of use, and integration capabilities make it a valuable tool. However, it is important to consider whether its features align with the specific needs of the user, especially if those needs extend beyond the typical requirements of a real estate agent. Realtyzam - Pricing and Plans
Realtyzam Pricing Overview
Realtyzam, an accounting software specifically for real estate agents, offers a straightforward and flexible pricing structure. Here are the key details:Free Trial
Realtyzam provides a 100% free 30-day trial, requiring no credit card information. This allows users to fully test the software before committing to a paid plan.Free Usage Beyond Trial
After the 30-day trial, Realtyzam remains free until you either sell two properties or accumulate $3,000 in income and expenses. This is a significant benefit for new or returning real estate agents who are just getting started.Paid Plans
Once the free period ends, users can choose from two paid subscription plans:Monthly Plan
$14 per month, billed monthly.Annual Plan
$11.58 per month, billed annually.Features Available in Paid Plans
Both paid plans include a range of features such as:Centralized Dashboard
A simple and streamlined interface to monitor your finances.Bank Account and Credit Card Integration
Automatic import of transactions from over 15,000 financial institutions.Expense Tracking
Categorize and log expenses with pre-built and customizable categories.Income Tracking
Track income from deals or clients by inputting data or pulling it from your bank account.Receipt Uploads and Management
Upload and link receipts to expense transactions.Mileage Tracking
Record business trips for tax deduction purposes.Financial Reports
Generate profit and loss statements, sales activity reports, and other key metrics.Additional Features
CRM Module
Available as a separate subscription, this module helps in managing client information, recording notes, saving documents, and tracking sales activity.Mobile App
Allows users to manage their business, track mileage, and upload receipts on the go.Group Pricing
For real estate companies with multiple agents, Realtyzam offers group pricing. Interested parties need to fill out a form to discuss the details with a dedicated customer representative.Summary
In summary, Realtyzam offers a flexible pricing model that includes a free trial, extended free usage for new agents, and affordable paid plans with comprehensive features to help real estate agents manage their finances efficiently. Realtyzam - Integration and Compatibility
Realtyzam Overview
Realtyzam, a cloud-based accounting software specifically designed for real estate agents, offers several integration and compatibility features that make it a versatile and user-friendly tool.Integration with Other Real Estate Software
Realtyzam can be integrated with other real estate software, including Customer Relationship Management (CRM) systems and property management software. This integration helps streamline processes, saving time and effort by allowing data to be shared seamlessly across different platforms.Bank and Credit Card Integration
One of the key features of Realtyzam is its ability to integrate with over 15,000 banks and credit cards. This allows the software to automatically download and categorize transactions based on custom rules set by the user. If bank integration is not available, users can upload statements from their bank or credit card website using Excel, CSV, or bank files.Cross-Platform Compatibility
Realtyzam is highly compatible across various devices and platforms. It works on all versions of Windows, Macs, tablets, and phones. Additionally, there is a free mobile app available for both iPhone and Android devices, ensuring that users can access and manage their accounting needs anywhere, anytime.Data Security and Transmission
Realtyzam ensures the security of user data through advanced digital and physical security protocols. Data transmissions between the server and user devices are encrypted with 128-bit SSL/TLS encryption, and account passwords and sensitive information are encrypted with 512-bit encryption before being stored on the servers.User Interface and Accessibility
The software is known for its simplicity and intuitive user interface. It includes helpful tips and a quick tutorial for new users, making it easy to get started. The mobile app mirrors the ease of use of the desktop version, allowing users to upload receipts, track expenses, and manage their accounting tasks effortlessly.Conclusion
In summary, Realtyzam’s integration capabilities with other real estate tools, its extensive bank and credit card integration, and its cross-platform compatibility make it a highly accessible and efficient accounting solution for real estate agents. Realtyzam - Customer Support and Resources
Customer Support
Realtyzam does not offer a dedicated customer service phone line. Instead, users must rely on email support for any questions or concerns. You can reach out to the company by sending an email to [insert email address].
Response Time
While there is no live support, Realtyzam aims to respond to email inquiries promptly. Questions sent during business hours are typically answered within two hours.
Additional Resources
Frequently Asked Questions (FAQs)
Realtyzam has a comprehensive FAQ section on its website that addresses common questions and issues. This can be a quick way to find answers to simple queries.
Tutorials and Training
The company provides tutorials and training resources to help users get familiar with the software. These resources can be found on their website and are designed to make the learning process smoother.
Blog and Real Estate Accounting Guides
Realtyzam maintains a blog that includes real estate accounting tips and guides. These resources can be helpful for users looking to optimize their use of the software and manage their real estate finances more effectively.
General Support
For any correspondence or further inquiries, users can also contact Realtyzam through their physical address or by using the contact form on their website.
While the lack of live customer support might be a drawback for some, the email support and additional resources provided by Realtyzam can still help users resolve issues and make the most out of the software.
Realtyzam - Pros and Cons
Pros of Realtyzam
User-Friendly Interface
Realtyzam is praised for its simplicity and great user interface, making it easy for real estate agents to track their production and manage finances without needing extensive accounting knowledge.
Bank Account Integration
The software allows easy integration with over 15,000 banks and credit cards, automatically pulling in business expenses and categorizing them based on custom rules, which significantly reduces data entry time.
Commission and Expense Tracking
Realtyzam is excellent at tracking commissions, including complex commission structures, splits, and adjustments. It also categorizes and tracks all business expenses, helping agents monitor their spending and manage finances efficiently.
Tax Preparation
The software generates detailed financial reports, including profit and loss (P&L) statements, which makes tax preparation much easier for agents. These reports can be easily shared with accountants or used for tax filings.
Mobile App
Realtyzam offers a free mobile app that is as user-friendly as the desktop version, allowing agents to record business trips, upload expense receipts, and manage their finances on the go.
Streamlined Dashboard
The dashboard is streamlined, featuring only the necessary tools for tracking sales activity, commissions, and expenses. This makes it easy for agents to create buyer pipelines, list properties, and track deal statuses.
Cons of Realtyzam
Limited Scalability
Realtyzam is not designed for teams, brokers, or larger real estate companies. It lacks the features needed for team management, HR functions, payroll, and advanced accounting capabilities.
No Mileage Tracking
The software does not include mileage tracking features, which might be a significant drawback for agents who need to track their business miles for tax deductions.
No Asset and Liability Tracking
Realtyzam cannot track assets and liabilities, which limits its ability to compile balance sheets. It also lacks invoicing features.
Limited Integrations
The software does not integrate with other third-party apps and services, requiring manual data import if needed for other tools.
Customer Support
Realtyzam lacks personalized customer support, with users needing to send support tickets via email and wait for a response. While responses are typically quick, this can be inconvenient for some users.
Cost
While Realtyzam offers a free trial, it does not have a free plan. The monthly fee can add up, especially for agents with limited budgets.
In summary, Realtyzam is an excellent choice for individual real estate agents or small teams due to its ease of use, automated expense tracking, and tax preparation features. However, it may not be suitable for larger teams or those needing more advanced accounting and integration capabilities.
Realtyzam - Comparison with Competitors
When comparing Realtyzam with other AI-driven real estate tools, several key differences and similarities emerge:
Focus and Target Audience
Realtyzam is specifically designed for real estate agents, particularly those who are self-employed or lack accounting experience. It focuses on tracking commissions, expenses, and providing a simple, streamlined dashboard for managing transactions and deals.Accounting and Financial Management
Unlike many other tools, Realtyzam is primarily an accounting software. It helps agents track income and expenses, generate profit and loss statements, and monitor financial activities related to each property deal. It also allows agents to set up bank feeds, eliminating the need for manual data entry.AI Integration
Realtyzam does not heavily rely on AI for its core functions. Instead, it uses basic automation to simplify accounting tasks. In contrast, tools like Lofty’s AI Assistant, Offrs RAIA AI, and Deal Machine’s Alma are heavily AI-driven, focusing on lead generation, qualification, and market analysis.Lead Generation and Marketing
Tools like Offrs RAIA AI and Lofty’s AI Assistant are geared towards lead generation and conversion. They use AI to analyze data, identify potential sellers, and engage leads through various communication channels. Realtyzam, however, does not have these features and is more focused on the financial and transactional aspects of real estate.Market Analysis and Valuation
For market analysis and property valuation, tools like HouseCanary and CoreLogic are more comprehensive. They provide advanced analytics, property valuations, and market trend forecasts, which are not part of Realtyzam’s offerings.Alternatives
If you are looking for a more integrated solution that includes AI-driven lead generation, market analysis, and financial management, you might consider alternatives like:- Lofty’s AI Assistant: Offers advanced lead conversion, appointment setting, and long-term nurturing campaigns.
- Offrs RAIA AI: Specializes in predictive analytics to identify likely sellers and qualifies leads through AI chat tools.
- Rentastic: Integrates property management and financial data, using AI to analyze property performance and forecast cash flows.
Conclusion
In summary, while Realtyzam excels in simplifying accounting tasks for real estate agents, it lacks the AI-driven features for lead generation, market analysis, and valuation that other tools provide. Depending on your specific needs, you may find that a combination of tools or an alternative solution better suits your requirements. Realtyzam - Frequently Asked Questions
Frequently Asked Questions about Realtyzam
What is Realtyzam and what does it do?
Realtyzam is an accounting software specifically designed for real estate agents. It helps agents track their expenses, income, and generate financial reports, making it easier to manage their finances and prepare for tax season. The software automates data entry by integrating with over 15,000 banks and credit cards, and it allows users to upload receipts and other documents for easy tracking.How much does Realtyzam cost?
Realtyzam offers a 30-day free trial period with no credit card required. After the trial, users can choose between a monthly subscription of $14 or an annual subscription of $11.58. Additionally, the software remains free until the user sells two properties or logs $3,000 in income and expenses.Can I try Realtyzam before committing to a subscription?
Yes, Realtyzam offers a 100% free 30-day trial period. During this time, you can use all the features of the software without entering any credit card information. This allows you to determine if the platform is right for your business before committing to a paid subscription.How does Realtyzam handle bank account and credit card integration?
Realtyzam allows users to connect their bank accounts and credit cards with ease. The software integrates with over 15,000 banks and financial institutions, enabling automatic transaction imports and auto-categorization based on custom rules. Users can also manually upload bank statements if they prefer.What kind of financial reports can I generate with Realtyzam?
Realtyzam enables users to generate various financial reports, including profit and loss statements, commission reports, and buyer and seller conversion rates. These reports can be filtered by date and exported in different views such as list view, summary view, monthly view, and vendor view. Reports can also be exported for print and shared with accountants or other stakeholders.Can I upload receipts and other documents to Realtyzam?
Yes, you can upload receipts and other relevant documents using your computer, tablet, or the Realtyzam mobile app. The software automatically scans and links these receipts to the corresponding expenses, making it easy to track and retrieve them for accounting and tax purposes.Does Realtyzam offer a mobile app?
Yes, Realtyzam has a mobile app that allows real estate agents to track their expenses, upload receipts, and log mileage on the go. This app ensures that agents can manage their finances and business activities from anywhere at any time.Is my data secure with Realtyzam?
Realtyzam takes the security of your data seriously. All data transmissions are encrypted with 128-bit SSL/TLS encryption, and account passwords and sensitive information are encrypted with 512-bit encryption before being stored on their servers. They also work with leading FinTech companies to manage bank account and password data securely.Does Realtyzam offer group pricing for real estate companies?
Yes, Realtyzam provides group pricing for real estate companies with agent teams. You can contact their customer representative to customize a subscription plan that suits your team’s needs.What if I need to cancel my subscription?
You can cancel your Realtyzam subscription at any time. If you decide to terminate your service, you can export all your account data in Excel format for future reference.Does Realtyzam provide any additional services or support?
Realtyzam does not offer professional services such as legal, financial, or accounting advice. However, it does provide various tools and features to help real estate agents manage their finances efficiently. For any additional support, you would need to consult a competent professional in the relevant field.