BrokerSpace 365 is an industry-specific solution that allows brokerage firms to manage all of their sales, operations, and agent relationships. Domain 6 is focused on building solutions for the real estate market using Microsoft technologies. The combination of Microsoft Dynamics 365 and BrokerSpace 365 gives firms the ability to:
- Manage and support agent relationships from onboarding to licensing.
- Provide their teams with a more accurate way to manage and track agent requests, including marketing, advertising, and other services.
- Register and track deals of multiple types, including listings, sales, rentals, and new developments.
- Support complex agent commission plans and schedules.
- Track agent performance.
- Provide agents with a robust portal for visibility into their achievements and requests.
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BrokerSpace 365 Is Designed for the Real Estate Industry
BrokerSpace 365 Delivers a 360-Degree View of Your Business
Built as an extension to the Microsoft Dynamics 365 product lines, BrokerSpace 365 delivers a 360-degree view to all aspects of the business, including the following capabilities:
Manage property listings and associate them with different agents and deals easily and effectively. Utilizing the Microsoft Common Data Service and Microsoft Dynamics 365, the system can easily integrate with different multiple listing service (MLS) data systems.
Agent Management and Onboarding
Managing agent relationships is crucial to brokerage firms. With BrokerSpace 365, you can manage the onboarding cycle, configure and manage agent contracts, and track the agent activation process with your licensing team with minimal paperwork and strict controls and compliance. The system also allows you to track different agent benefits, such as marketing budgets and services provided, and automatically generate agent dues.
Deal Registration and Management
BrokerSpace 365 allows users to manage the deal life cycle from registration to close, and from close to payout. The solution provides a simplistic way to associate a deal with different offices; register the sales prices and the commissions received; record the deal fees automatically; and associate referring agents and organizations, co-brokers, and different agents and teams. Each deal represents an independent transaction that you can track all the way to the general ledger. BrokerSpace 365 breaks down revenue and payables to give the office, commissions team, finance team, and agent a complete 360-degree view of company revenue versus agent commissions.
Commission schedules are very complex and may vary from agent to agent and from office to office. BrokerSpace 365 gives organizations the ability to standardize these commission plans and create deviation rules for certain agents and teams (side agreements), depending on the contracts. The setup can accommodate different thresholds by deal or fiscal year. Be able to use different agent gross commissionable income (GCI) rules and apply them to deals automatically.
Commission Processing and Fees
With the automatic application of commission rules and deal-level fees (at the top or the bottom), BrokerSpace 365 provides a detailed transaction breakdown against the gross commission income received. This allows you to properly track the source of each company dollar collected and each agent’s earnout.
Receivables and Payables
Because Microsoft Dynamics 365 for Finance and Operations is its backbone, BrokerSpace 365 is able to leverage all the standard Dynamics 365 finance capabilities to manage account receivables and payables; track collections, payments, disbursements, loans, and dues; and provide a detailed financial picture of your organization.
Industries That the Product Supports
- Brokerage firms
Microsoft Products Used
- Dynamics 365 for Finance and Operations
- Dynamics 365 for Sales
- Dynamics 365 Portals
Words from a Client
“Working with Domain 6, from the contract process through implementation, has been a partnership. The team works to understand the business and the intricate details, and then takes that knowledge back to develop a best-in-class solution that is also flexible for the future. From quick turnaround to driving efficiencies, their partnership capabilities make them a part of the team. – Jeff Hummel, CIO of Douglas Elliman Real Estate