Helpful Expense Tracker Apps for Real Estate Professionals

By: Anna Kinney, Chief Product Officer

Real estate agents, whether independent or part of a larger brokerage, need to keep track of a lot of expenses, from marketing and mileage to open houses and home offices. Fortunately, several expense tracker apps cater specifically to the unique needs of real estate professionals. Here are several expense tracker apps that any real estate agent should consider.

Hurdlr

Overview: Hurdlr is a versatile expense tracking app designed for freelancers and independent contractors, including real estate agents. It offers comprehensive financial management tools that track income, expenses, mileage, and tax deductions in real-time.

Key Features:

• Real-time income and expense tracking

• Automated mileage tracking

• Real-time tax calculations

• Integration with bank accounts and credit cards

• Detailed financial reports

Why It's Great for Real Estate Agents: Hurdlr's real-time financial tracking and automated tax calculations help agents stay on top of their finances without the need for manual input. Its user-friendly interface and robust reporting tools provide valuable insights into an agent’s financial health.

QuickBooks Solopreneur

Overview: QuickBooks Solopreneur is a popular choice among freelancers and self-employed professionals, including real estate agents. It offers comprehensive features for tracking income, expenses, mileage, and even helps with tax preparation.

Key Features:

• Automatic expense categorization

• Mileage tracking via GPS

• Quarterly tax estimation

• Integration with TurboTax

• Invoicing capabilities

Why It's Great for Real Estate Agents: QuickBooks Solopreneur simplifies the process of managing commissions, deducting expenses, and preparing for tax season. Its mileage tracking feature is particularly useful for agents who spend a lot of time on the road.

Expensify

Overview: Expensify is a robust expense management app that is well-suited for both individual agents and real estate teams. It offers real-time expense tracking and integration with various accounting software.

Key Features:

• SmartScan receipt capture

• Automatic expense reporting

• Corporate card reconciliation

• Multi-level approval workflows

• Integration with accounting platforms like QuickBooks and Xero

Why It's Great for Real Estate Agents: Expensify’s ability to quickly scan and categorize receipts makes it easy for agents to keep track of business-related expenses. Its reporting and approval features are also beneficial for teams managing multiple agents.

MileIQ

Overview: MileIQ is a specialized app for tracking mileage, which is a significant expense for real estate agents. It automatically logs miles driven for business purposes, making it easy to claim mileage deductions.

Key Features:

• Automatic mileage tracking

• Detailed mileage reports

• Customizable mileage rates

• Integration with expense management software

• IRS-compliant reporting

Why It's Great for Real Estate Agents: Since driving is typically a daily part of a real estate agent’s job, MileIQ helps ensure that every business mile is accurately tracked and reported. This can lead to significant tax savings and less time spent compiling travel data come tax season. 

Zoho Expense

Overview: Zoho Expense is part of the Zoho suite of business applications. It offers comprehensive expense tracking and reporting tools designed for small businesses and freelancers.

Key Features:

• Receipt scanning and categorization

• Multi-currency expense tracking

• Mileage tracking

• Expense policy compliance

• Integration with Zoho Books and other Zoho apps

Why It's Great for Real Estate Agents: Zoho Expense’s seamless integration with other Zoho applications makes it a powerful tool for agents already using the Zoho suite. Its detailed expense policies and compliance features are beneficial for managing business expenses.

Choosing the right expense tracker app can significantly streamline the financial management of your real estate business. Whether you need simple mileage tracking or comprehensive financial reporting, there's an app on this list to meet your needs. By leveraging these tools, you can focus more on closing deals and less on managing receipts and expenses.

Need more best practices for managing and tracking expenses? Read A Real Estate Agent’s Guide to Tracking and Managing Expenses next.