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Real Estate Services
Brokerages, property management. Agent count, listing pipeline, recurring fees.
45 day typical timeline2-4x EBITDA (brokerage), 4-6x EBITDA (property management)
Document categories
The diligence checklist is organized into these top-level categories. Each one has its own subchecklist auto-generated when you launch a deal.
Financial Statements
Tax Returns
Legal & Corporate
Licensing
Agent Roster
Listings & Pipeline
Commission Structure
Insurance (E&O)
Contracts
Technology (MLS/CRM)
Trust & Escrow Accounts
Industry-specific documents
These are the documents that matter most for real estate services — things you'd miss with a generic checklist.
- 📄Broker and agent licenses by state
- 📄Agent independent contractor agreements
- 📄Listing inventory and pending transaction pipeline
- 📄Trust and escrow account reconciliations (3 years)
- 📄E&O insurance certificates and claims history
- 📄Property management contracts with assignment provisions
- 📄Residential vs commercial revenue split
- 📄MLS access agreements and fee schedule
- 📄Commission split schedule by agent tier
- 📄Earnest money escrow procedures and audits
Common red-flag patterns
The AI scans uploaded documents for these patterns and surfaces them with source citations so you can investigate quickly.
- Trust or escrow account irregularities
- Top-5 agent GCI concentration above 50%
- License lapses or state disciplinary actions
- E&O claims above industry average
- Agent W-2/1099 misclassification exposure
- Non-compete unenforceability in state
- Rising MLS fees or franchise obligations
Key metrics tracked
Pulled from financial statements and operational data, these metrics anchor the diligence narrative.
Gross Commission Income (GCI)
Agent Productivity ($/agent)
Listing-to-Sale Ratio %
Average Sale Price
Commission Split %
Property Management AUM
Run a real estate services deal in minutes
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