SmartHelping / Real Estate Brokerage / Excel
Real Estate Brokerage Financial Model
Forecast the economics of starting or growing a real estate brokerage over up to 10 years. Model deal volume, agent productivity and commissions across two revenue configurations, then review monthly and annual financial statements, cash flow and investment returns.
Immediate download after purchase. By purchasing, you agree to the Terms of Service.
See the model in action
Follow the brokerage assumptions into the financial forecast.
Watch the walkthrough to see the revenue, commission and expense setup. Open the screenshots below to preview the workbook and its reports.
Two revenue configuration modules
Build revenue from deal activity and agent productivity.
Each configuration includes the operating, deal-volume and commission assumptions needed to model brokerage revenue.
Start month of operations
Define when operations begin for each revenue configuration.
Monthly deal volume
Enter the expected number of deals completed by agents each month.
Growth in monthly deals
Set the increase in deals per month to reflect the activity you expect as the brokerage grows.
Deals per agent
Define the average number of deals completed per agent per month.
Average sales price
Enter the average property sales price in USD for the deals being modeled.
Average sale commission
Set the average commission on a sale before applying the buy-side or sell-side allocation and brokerage split.
Buy-side and sell-side assumptions
Separate the deal mix from the commission retained by the brokerage.
Configure both sides within each of the two revenue modules to examine how commission assumptions affect brokerage revenue.
Sell-side deals
Set the percentage of sell-side deals, the share of commission allocated to the sell side, and the commission split earned by the brokerage.
Buy-side deals
Set the percentage of buy-side deals, the share of commission allocated to the buy side, and the commission split earned by the brokerage.
Fixed and variable expense assumptions
Plan costs around operations, agents and brokerage revenue.
Use separate expense modules for fixed overhead, monthly agent costs and costs tied to revenue.
Fixed operating costs
Use multiple fixed-cost slots, each with a start month, description and monthly cost for each year of the forecast.
Monthly costs per agent
Define up to five variable-cost slots per deal type based on cost per agent per month. Examples include monthly marketing spend and software costs per agent.
Percentage-of-revenue costs
Use the additional cost module for expenses calculated as a percentage of brokerage revenues.
Financial reports and investment analysis
Review the business from operating detail to financial summaries.
The model supports up to 10 years, with monthly and annual reporting and an annual executive summary.
Three financial statements
Review the income statement, balance sheet and cash flow statement on monthly and annual bases.
Detailed pro forma and KPIs
Follow the operating assumptions into EBITDA and cash flow through monthly and annual pro forma detail, with key performance indicators.
Annual executive summary
Use the annual summary to review the brokerage’s financial outlook.
Discounted cash flow analysis
Review the DCF analysis alongside the operating forecast and financial statements.
Return and hurdle reporting
Review IRR, ROI and equity-multiple hurdle outputs for the project, investor pool and owner pool where applicable.
Ten financial visualizations
Use 10 financial summary visualizations to review and communicate the forecast.
Cap table and equity structure
Model owner funding or a joint venture.
The cap table supports an all-owner-equity setup or a joint venture structure.
All owner equity
Use the owner-equity option when the brokerage is funded entirely by its owner.
Joint venture participation
Use the joint venture option and review the investor-pool and owner-pool return outputs where applicable.
How to use the model
Turn the brokerage’s operating assumptions into a financial plan.
Set up the two revenue configurations
Enter each start month, expected monthly deals, growth in deal volume, average deals per agent and average sales price.
Configure commissions
Set the average commission on a sale, the buy-side and sell-side deal percentages, each side’s share of commission and the brokerage’s retained split.
Add expenses and ownership
Enter fixed operating costs, monthly costs per agent and percentage-of-revenue costs. Configure the cap table for owner equity or a joint venture.
Review the financial plan
Check the monthly and annual statements, pro forma, KPIs, annual executive summary, DCF analysis, return outputs and 10 financial visualizations. Adjust assumptions to compare another operating strategy.
Who this model is for
For brokerage founders, owners and financial planners.
New brokerage founders
Build a financial forecast around expected deal activity, agent productivity, commissions and the cost of operating the business.
Existing brokerage owners
Test changes to commission splits, deal growth, agent productivity and spending to review their effect on the brokerage’s financial results.
Also available in these bundles
Need more real estate and business planning templates?
This model is included in the Real Estate and Industry-Specific bundles. The Super Smart Bundle includes the complete public SmartHelping template collection.
Real Estate Financial Models
Explore templates for property acquisitions, development, financing and real estate operations.
View the Real Estate bundleIndustry-Specific Financial Models
Explore financial forecasts built around the revenue and expense drivers of different businesses.
View the Industry-Specific bundleSuper Smart Bundle
Access the complete public SmartHelping template collection across industries and financial-analysis needs.
View the Super Smart BundleComplementary tools and reading
Explore valuation and ownership resources.
EBITDA Multiple Valuation Template
Explore a separate template for valuation using an EBITDA multiple.
Explore the templateUnderstanding Cap Tables
Read about cap tables and how ownership is represented.
Read the articleJoint Venture & Waterfall Models
Browse additional models for partner contributions, preferred returns and distribution waterfalls.
Explore the collectionReal Estate Valuation Methods
Read about general methods for valuing real estate.
Read the articleQuestions before you buy
A few useful details.
How long is the forecast?
The model supports a maximum of 10 years, with monthly and annual reporting.
How many revenue configurations are included?
There are two revenue configuration modules. Each includes operating dates, deal activity, agent productivity, sales price and commission assumptions.
Can I model buy-side and sell-side commissions separately?
Yes. Each side has its own deal percentage, share of commission and brokerage commission split.
How are agent-related costs entered?
Enter costs per agent per month in up to five variable-cost slots per deal type. Fixed-cost schedules and a percentage-of-brokerage-revenue cost module are also included.
Does the model include three financial statements?
Yes. It includes monthly and annual income statements, balance sheets and cash flow statements, along with pro forma detail, KPIs, an annual executive summary, DCF analysis, return reporting and 10 financial visualizations.
Can I use all owner equity or include a joint venture?
Yes. The cap table supports either option, with project, investor-pool and owner-pool return outputs where applicable.
What format do I receive?
This model is built in Microsoft Excel and is available to download immediately after purchase.
Plan the business behind the transactions
Connect deal activity and commissions to the financial results.
Get the Real Estate Brokerage Financial Model for $75 and build a monthly and annual forecast for up to 10 years.
