Earnnest, the largest digital earnest money service in the U.S., recently announced new features for its platform as well as a temporary lift on fees for all homebuyers, effective immediately through April 17, 2020.
Earnnest enables homebuyers to send electronic money deposits directly to any U.S. financial institution through a secure, proprietary electronic payment tool, mitigating the risk of wire fraud, completely eliminating paper checks and removing the need for any in-person interaction. The tool features banking-level encryption and is always free to use for agents and escrow holders, with a flat fee to homebuyers, no matter the amount of money transferred. Now through April 17, this buyer fee has been waived.
“We’re living through unprecedented times and more than ever, platforms like ours offer a much-needed solution for business continuity and growth,” said Earnnest CEO Rick Altizer. “We’ve waived all fees for Earnnest, so homebuyers, currently at home taking care of their families, can simply transfer earnest money through our app.”
Many escrow holders are finding value in Earnnest, too. Denver-based Land Title® Guarantee Company recently expedited its timeline by three months to roll out the platform to its clients nationwide as soon as possible. Additionally, the number of escrow holders registering through Earnnest’s integration with zipForm® Plus has significantly increased in the past several weeks.
“Since the COVID-19 pandemic has caused businesses to shift to work-from-home models and society is practicing social distancing to slow the spread of the virus, we’ve seen a substantial lift in escrow holder enrollment and agent registration,” said Earnnest Chief Technology Officer Daniel Jeffords. “Earnnest is a technical solution for digital real estate transactions but it’s also an emotional solution to bring collective calm to an industry just wondering how to conduct business.”
In conjunction with the fee-free announcement, Earnnest also launched several new features, including:
– Self-registration, allowing any licensed real estate agent to register and make payment requests in the closed network
– Support for single sign on integrations with software platforms, including the leading transaction management software tools
– Support for business administrators to manage multiple accounts and make payment requests
“Our safe, closed network isn’t just an answer for right now,” said George Clements, Greenville, S.C.-area mega agent and co-founder of Earnnest. “This is a solution for the future of real estate that’s safer, more streamlined and more resistant to whatever changes the world may bring.”
Greenville, S.C.-based Earnnest is the largest digital earnest money service in the United States, allowing buyers to securely and electronically deposit funds directly to an escrow holder. Earnnest keeps agents, buyers and escrow holders in the loop with automated emails and tracking information. Visit Earnnest.com.