Frequently Asked Questions
Does Loft47 integrate with transaction management systems?
Yes, Loft47 integrates with Dotloop, DocuSign Rooms and SkySlope. This eliminates duplication of data entry.
What Accounting integrations are available?
Xero is the original accounting integration and the only accounting system that works with the Agent accounting product called Agent47.
Does Loft47 integrate with Payment Gateway systems?
Are Loft47 integrations included in the Loft47 pricing?
Yes, Loft47 assists with the integration of transaction management and accounting platforms during the 1st training meeting.
Does Loft47 offer reporting for my franchise?
Loft47 provides franchise reporting for some brands; inquire directly for info on your franchise.
Is the Loft47 solution mobile?
Yes, Loft47 can be accessed from any device with a browser, including tablets and smartphones!
What is Let Loft Do It?
Let Loft Do it! is an on demand service to have Loft47 staff process your transactions. See more information here: https://www.loft47.com/let-loft-do-it
Can my Agents see their data?
Absolutely, Agents have direct access to all deals, commission paystubs, performance and production information including self-serve 1099 tax forms. Agents may additionally sign up for their own automated accounting account to run their independent contractor business.
Does Loft47 handle complex commission plans?
Yes, Loft47 accommodates complex commission plans, as well as ordering of calculations. Loft47 auto-calculates, prorates and caps Agent plans which then can roll over on an Agent’s anniversary or calendar year.
Does Loft47 accommodate Teams?
Yes, Loft47 provides a comprehensive team setup structure for production and calculations. Additionally, Loft47 handles team deductions which aggregate fee totals across team members.
Can I pay my Agents by direct deposit?
Xero directly integrates with many direct payment providers, such as bill.com, routable.com, waypay.ca, veem.com, plooto.com and more.
How long does it take to get set up? Can I migrate data from my existing program?
Onboarding takes 1-4 weeks, depending on brokerage size and setup includes:
✓ Loft47 Data Import (provided in spreadsheet format)
✓ Agent profile detail
✓ Deal deduction fee detail
✓ Agent assignment of deductions / overrides
✓ YTD production by Agent & YTD deductions by Agent
✓ Xero data import (provided in spreadsheet format)
✓ Agent list & Supplier list
✓ Chart of accounts (GL Codes)
✓ Chargeable item codes w/ GL assignment
✓ Agent A/R balance at ‘go live’
✓ Repeating billing set up / orientation
Am I locked into an annual contract?
No, both Loft47 and Xero are month-to-month subscriptions.
Are training and support included?
Yes, training is provided to our users during setup. Once a customer has been onboarded, Loft47 provides general app support. We also host monthly Loft47 training webinars.
What set up data can be moved from Brokerwolf to Loft47?
We do the heavy lifting when it comes to migrating setup data from Lone Wolf to Loft47. That includes us helping you export set up data from Lone Wolf (I.1.1 / I.1.P.8 / F.6.2 / E.1.3 / I.4.1 / 126.96.36.199 / and a few more, depending on your business use of LW).
Once we have that data, we reconfigure the files and complete the set up of Loft47. Set up also includes all integrations (DL>Loft47>Xero), as well as user training for your brokerage.On or just after the Loft47 go live date, we will get you to export 8.5.p & 8.7.1 to capture each agent's YTD summary information.
What is the cost for Loft47?
Pricing for Loft47 is based on the number of agents in your brokerage. Cost does not increase with the number of admins / users, and also does not increase with the number of offices. The Loft47 fee includes logins for every member of the brokerage, including agents. Agents see only their own deals / production / payroll history etc, including self serve 1099s. Setup fee includes data migration
/ importing, as well as includes all integrations (SS/DR/DL>Loft47>Xero). Staff training is included in the setup fee. Monthly fees include ongoing support which consists of live chat + live answered 800 number, from 9 - 9 EST. *prices subject to change
What Our Customers Are Saying
- Curtis Stasiuk Jan. 1, 2022
Loft47 is modern, agile, and allows me to work between two offices. I can approve checks and approve deals from either office or on the couch at my house.
- Claire Wellman-HoaglundNov 21, 2020Honestly the best customer service I could ever hope for. This program is amazing and the customer support is top notch. Thank you for all your help! I can’t tell you how many times you have saved me from a major headache!
- Kim MagginiDec. 14, 2021
As a broker, it's very important to monitor your agents' production on a consistent basis. Trends of production not only assist in determining financial aspects of the company, but also training, marketing and recruiting. Because of the amount of data that is involved with real estate transactions, it can be daunting to pull that information together on a regular basis. Having immediate access to reports gives the broker the flexibility to not only meet on a regular basis, but at a quick glance when having a last minute meeting with an agent.
Business planning for an agent can tend to be a bit overwhelming, but the most successful agents are committed to the process consistently. Providing them reports on their production allows them to not only plan for their business, but monitor the results throughout the year in order to adjust plans if necessary to achieve their goals.
- Rae Gagnon. May. 11, 2020Loft47 is a solid cloud based application that manages real estate transactions, agents and document storage. It is user friendly and versatile such that we are able to build a platform of applications specific to the independent needs of each of our unique brokerage clients. It syncs seamlessly with the cloud based accounting software Xero. We've had only positive interactions with their integration and ongoing support teams. If you are considering a cloud based solution look no further than Loft47.
- Nick Davies Nov. 24, 2020Simple design, easy to use and a great support system. I recommend Loft47 to real estate brokerages in need of a reliable project management system.
- Richard Leblanc. Nov. 11, 2021 This is the most user-friendly and accurate website, easiest to navigate and gives the information needed, no more no less. I would recommend Loft47 to any Broker.
- Shami Sandhu. Nov. 23, 2020 After looking at a number of other potential back-office solutions for our Western Canadian Brokerages, Realty ONE Group selected Loft47. The support team has been amazing helping us onboard and any ongoing support our franchisees. Strongly recommend their program for any size brokerage