RE/MAX of Stuart is offering a new alternative for your buyers to send their escrow deposits into the office. Your buyers are still welcome, of course, to send their escrow deposits in via wire or good, old-fashioned paper checks. This new opportunity will be a good option for your buyers who are familiar and use apps such as Venmo and Cashapp in their day-to-day lives. It’s the ‘Venmo’ for escrow deposits, if you will. The company is called Earnnest and it is the largest digital earnest money service in the U.S.
The cost for this service is $18 as opposed to wires, which on average, costs your buyers $30. You, as the agent, download the Earnnest app and are in control of sending the deposit requests to your buyers, as well as being able to see when your buyer initiates the deposit, etc. You never see their banking information. I have attached some .pdf’s to peruse that can provide you more information. (The ‘Welcome to Earnnest’ flyer is the last one.) Hard copies will be available at the Sales Meeting on the 24th. Once you all have had a chance to look over the information, we will be adding a class to the monthly calendar as I know there will be lots of questions. Most can be answered by the attached flyers, but we will provide the opportunity for training from the company as well. In the meantime, you are welcome to download the app and start using immediately as we are already set up and registered. We have had a couple of agents use this option and it is simple and user friendly.