Whether you’re a new real estate agent, or suddenly find your business growing, there are many reasons why you should hire an accountant: quarterly tax payments, rules on proper business expenses, and tedious paperwork. Don’t lose money by trying to do it all yourself.
So how does a Realtor® find an accountant on a tight budget?
- Shop around and compare prices. There are many different accountants out there, so it’s important to shop around and compare prices before you make a decision. You can use online tools to compare prices and find the best deal for your needs.
- Consider a smaller accounting firm. Smaller accounting firms may be more affordable than larger firms. This is because they have lower overhead costs.
- Ask for referrals. Talk to your broker, friends, family, and fellow agents to see if they have any recommendations for an accountant. They may be able to give you a good idea of the quality of work and the fees charged by different accountants in your area. Recommendations from brokers and agents are especially useful since their accountant will have experience helping a real estate agent.
- Be prepared to negotiate. Don’t be afraid to negotiate with the accountant you choose. They may be willing to lower their rates if you’re a good client.
- Ask about discounts. Some accountants offer discounts for early payment or for repeat business. Be sure to ask about any discounts that may be available to you. Check with your Realtor® association, your broker, or your company benefits.
- Consider using an online accountant. Online accountants can be a great option for those on a budget. They typically charge lower rates than traditional accountants and they can often provide the same level of service.
- Do your research. Before you hire an accountant, be sure to do your research and make sure they are qualified to do the work you need. You can check with the Better Business Bureau to see if there have been any complaints filed against them. You can also ask for references from previous clients.
How do you save money on professional services? I love to hear agent feedback, and I would be happy to post your ideas (and give you the credit) in our next article. Just send an email to Robert@TheThriftyAgent.com.