Modus said its Digital Earnest Money Deposit feature is a complimentary service for buyers, sellers, and agents.
“This is an industry first,” Modus CEO Alex Day said in a release. “The Digital Earnest Money Deposit capability enables buyers to easily and securely deposit their earnest money through propriety technology built within the Modus platform.”
Modus said its platform eliminates the need for wire transfers.
“Building this propriety technology was incredibly complex, and this new feature is not only a huge win for Modus but also a major step forward for the real estate industry and ultimately the consumers,” Modus Chief Technology Officer Abbas Guvenilir said. “We couldn't be more excited and grateful to our product and engineering team.”