MRED LAUNCHES ELECTRONIC EARNEST MONEY FOR ALL AGENTS
May 18, 2021
Midwest Real Estate Data (MRED) brokers are now able to request earnest money securely and conveniently without driving across town to pick up a paper check.
TrustFunds electronic earnest money links were launched within MRED’s connectMLS platform earlier this week. This new electronic earnest money benefit for MRED members ensures brokers, managing brokers and title companies have a more secure and convenient way to request and collect earnest money.
“TrustFunds has been working closely with dynaConnections for the past few weeks to integrate electronic earnest money right within our platform,” says Chris Haran, MRED’s Chief Technology Officer. “Brokers never have to leave our MLS, they just click the TrustFunds link, enter a few earnest money details, select which registered trust account holder to send the funds to and that’s it. We truly believe this will become the standard for earnest money.”
TrustFunds is a tool that MRED subscribers have requested because they understand the benefits of time savings, security and convenience, he said.
“We live in a time where many people don’t have paper checks, physical distancing is preferred and wire fraud is common. TrustFunds is offering electronic earnest money as a tool that’s helping agents be more productive while also increasing security and offering a benefit to buyers,” says Lynn Leegard, TrustFunds President and Founder.
In addition to brokers being able to quickly submit earnest money requests right through their MLS platform, brokers and trust account holders can now access real-time reporting on earnest money payment status in addition to other, valuable reporting capabilities.
TrustFunds provides a comprehensive electronic earnest money solution directly integrated with the MLS platform. Real estate agents don’t have to log into a different system or vet the security of a solution themselves – TrustFunds is market-wide in their partnership with the MLS. TrustFunds’ mission is to provide customers more time for more life by simplifying and securing the earnest money process. For more information, visit www.trustfunds.us.com.
Midwest Real Estate Data (MRED) is dedicated to serving more than 47,000 real estate professionals in more than 7,500 offices. The Lisle, Ill.-based MLS serves Illinois and portions of southern Wisconsin and northwestern Indiana. MRED is a member of the Real Estate Standards Organization (RESO), MLS Grid and the Broker Public Portal. For more information, please visit MREDLLC.com.