Coldwell Banker taps payload for automated earnest money deposits – HousingWire
It has made earnest money deposit payments easier for estate agents and home buyers. provider According to the latest announcement, it is integrating with the brokerage firm.
Coldwell Banker Realty with its new integration – is a subsidiary — can now process all earnest money deposit (EMD) payments through Payload's Check21 feature. It is based on a federal law of the same name that allows financial institutions to process checks through imaging.
In 2022, Coldwell Banker began digital EMD capture for all agents by integrating it into the My Deals platform, a system previously designed to replace traditional transaction cover sheets with Payload and the Trident billing system. Before partnering with Payload, Coldwell Banker was manually handling more than 100,000 of these transactions. According to the company management, now those days are long gone.
“We are excited to partner with Coldwell Banker Realty to digitally transform their payment workflows,” said Zach Jacob, Vice President of Payload. “Our technology is perfectly suited to meet the unique demands of the real estate market, and this collaboration highlights the potential of automation to drive significant improvements in operational efficiency and customer satisfaction.”
Anywhere's vice president of agent services, Kevin Morey, also reinforced the company's commitment to enhancing its services through new technology.
“We are always looking for ways to use technology to enhance the home buying experience for our team and our customers,” he said. “Freight integration and the simplicity of the payment experience have led to widespread adoption by our agents and home buyers, while automated payment reconciliation has greatly simplified our accounting processes.”
Payload offers more than automated EMD capture. Coldwell Banker also launched lease commission payments and agent receivables through Payload, which allows agents to process automatic clearinghouse, credit and debit transactions, including virtual wallets. Google Payment or apple To pay.
“In our efforts to remove friction and complexity from the real estate transaction, both agents and consumers have appreciated the convenience that Payload offers to ratify,” said Pauline Bennett, Northeast regional president of Coldwell Banker.
