Payload, a provider of payment automation solutions, announced its integration with Coldwell Banker Realty, an Anywhere brand, to offer its payment workflow platform to its network of affiliated real estate agents.
Coldwell Banker Realty first launched digital earnest money deposit (EMD) capture in late 2022 for its offices throughout the United States, through a fully embedded Payload integration with its proprietary My Deals agent platform and Trident accounting system.
Prior to Payload, over 100,000 annual earnest money payments were handled manually through checks and wire transfers.
“In our efforts to remove friction and complication from the real estate transaction, both agents and consumers have appreciated the convenience Payload offers to ratify a purchase and sales agreement,” Pauline Bennett, Northeast regional president at Coldwell Banker Realty, said in a release
“We’re always looking for ways to leverage technology to enhance the homebuying experience for our team and clients,” said Kevin Morey, vice president of agent services at Anywhere, the parent company of Coldwell Banker Realty. “The simplicity of the Payload integration and payment experience has led to widespread adoption from our agents and homebuyers, while the automated payment reconciliation has greatly simplified our accounting processes.”
More recently, Coldwell Banker Realty added Payload’s Check21 feature to electronically deposit the remaining physical check payments. Through this newer feature, the company aims to facilitate all EMDs through its Payload integration.
Beyond automating EMD payments, Coldwell Banker Realty launched lease commission payments and agent receivables through Payload, utilizing various payment methods such as ACH, credit and debit cards, and virtual wallets.
“We are thrilled to partner with Coldwell Banker Realty to digitally transform their payment workflows,” said Zach Jacob, vice president of real estate at Payload. “Our technology is perfectly suited to meet the unique demands of the real estate market, and this collaboration highlights the potential for automation to drive significant improvements in operational efficiency and client satisfaction.”