It’s here! TrustFunds is now available through NorthstarMLS (for Single Family Residential–other property types to be added very soon).
TrustFunds is a secure and convenient web-based service that allows buyers to simply and securely make their earnest money payment online and easily verify the status at anytime. For more details on TrustFunds and how it will benefit you and your clients, check out this recent post.
Below are quick steps for you to get started now absolutely free. For more detailed instructions with screen shots, check out our Quick Start Guide.
Set up your account and preferences:
There is no cost for agents to register with TrustFunds. By registering, you will be able to use TrustFunds with your buyers and stop running around for earnest money checks.
From the Matrix Home tab drop-down menu, or in the External Links box on the Home screen, click the “TrustFunds” link. A new tab/window will open with TrustFunds. Your information will be automatically filled in from the Matrix roster. Set your preferences, save, and you are ready to assist your buyers in making online earnest money payments with participating listing brokers.
Help your buyer client make an online earnest money payment:
If your buyer’s offer is accepted on a property where the listing broker is registered with TrustFunds, the buyer can quickly and securely make their earnest money payment online. How do you know if the listing broker is registered with TrustFunds?
Look at the Property Full Display in Matrix. If the listing broker is registered with TrustFunds, there will be a TrustFunds icon and link below the primary photo. It will look like this:
Click the link and follow the prompts to generate an email to your client. The email will contain a secure link for your buyers to make their online earnest money payment in the amount specified in the Purchase Agreement. If the TrustFunds icon/link does not appear with the listing, the listing broker is not registered with TrustFunds. In this case, TrustFunds cannot be used for the earnest money payment until the listing broker registers with the service
If you are a broker, register with TrustFunds:
If you are the broker and would like to accept earnest money deposits directly to your broker trust account via TrustFunds, complete the broker registration. You will then receive an email that allows you to login and view the Terms and Conditions, Service Agreements and your broker fees will be displayed. If for any reason you do not want to continue the registration process, you can simply stop and there is no obligation. For more details, see our Broker Registration Guide.
Contact our Help Desk at firstname.lastname@example.org or 651-251-5456 (toll free 1-877-251-5455), Monday through Friday, 8:00-5:00.