The expense tracker realtors actually use

Tag each closing as separate income with the gross commission, then immediately subtract broker split and brokerage fees in a separate expense line. What you net per deal is what counts for budgeting. The 2024 NAR data showed median agent gross commission per transaction around $9,800, with typical split ranging from 50/50 (newer agents) to 90/10 (top producers). After your split, set aside 25-30% for federal income tax plus 15.3% self-employment tax up to the SS cap, then 10-15% for business reinvestment (marketing, CE). Whatever's left is what you actually budget for personal expenses. Set your fixed personal costs against your weakest 3-month rolling income from the last 18 months, not the average.

Cash Compass doesn't auto-track GPS — it would require always-on location, which the app doesn't request. Instead, pair it with a dedicated mileage app (MileIQ, Stride, Hurdlr) for the GPS log, then enter weekly totals into Cash Compass as a Mileage: Business expense at the IRS rate. The 2025 federal standard mileage rate is 70 cents per business mile. A full-time agent driving 13,000 business miles per year claims about $9,100 in deductions. Important rule: keep a contemporaneous log (the IRS requires this — date, start/end, purpose). The mileage app handles the log; Cash Compass handles the dollar tracking for cashflow purposes. At year-end, both feed into Schedule C line 9.

Create a top-level Brokerage category with sub-tags: Desk Fee, MLS Dues, E&O Insurance, Lockbox Subscription, Software (CRM, transaction-mgmt), Association Dues. Most full-time agents pay $2,500-$8,000 per year in recurring overhead before any marketing spend. The 2024 NAR Member Profile reported median annual business expenses around $8,200 for full-time REALTORS, with about 40% of that in fixed brokerage costs and 60% variable (marketing, mileage, client gifts). Knowing this number is the difference between thinking your $9,800 commission was profitable and realizing the net was closer to $5,500 after split, taxes, and your share of overhead per deal.

If you're a solo agent under an LLC or sole prop with under roughly $250,000 in gross commission and no employees, Cash Compass plus a separate business checking and a yearly CPA visit is usually enough. Where QuickBooks becomes necessary: if you have an assistant on payroll, you've formed a team with shared revenue, you're a designated broker managing multiple agents' splits, or your accountant requests formal P&L statements. The 2024 NAR data showed about 88% of REALTORS are solo or in a small team — most don't need full accounting software. The honest tradeoff: Cash Compass costs $30/year, QuickBooks Self-Employed is $180/year for the basic plan. The latter does add automatic mileage tracking and quarterly estimated-tax calculation. Pick by feature need, not feature count.