Lone Wolf and Earnnest Partner to Digitize Earnest Money Deposit Process
Partnership allows users of real estate's leading transaction management solutions to securely send electronic earnest money deposits to escrow holders
CAMBRIDGE, ON – September 10, 2019
Lone Wolf Technologies ("Lone Wolf"), the North American leader in residential real estate technology, and Earnnest, the future of real estate payments, today announced a strategic partnership between their two organizations. This partnership will integrate Lone Wolf's industry-leading transaction management solutions, zipForm® Plus and TransactionDesk, with Earnnest's secure earnest payment platform to digitize the entire earnest money deposit (EMD) process for real estate agents, brokerages, and consumers.
With this integration, real estate agents can invite buyers to the Earnnest platform from within their transaction management solutions. Earnnest will enable buyers to securely send their earnest and trust payments directly to escrow holders from their financial institution. It then provides notifications and updates on money movement to both the agent and buyer throughout the life of the transaction. This brings the EMD process online and simplifies the entire transaction for real estate agents, brokerages, and buyers. It also provides the industry with yet another valuable service to offer consumers—directly from within the transaction platform they are already using.
"We're thrilled to announce this partnership with Earnnest and its revolutionary payment platform," said Jimmy Kelly, CEO of Lone Wolf. "With this partnership, we can bring the entire transactional process online in one connected system—from the moment the first form is created, to the day money goes to escrow, and beyond. This partnership brings an incredible service to our customers and their clients, and embodies our mission to simplify transactions for the real estate industry."
Earnnest is a digital payment platform that safely and securely transfers earnest money to an escrow holder. It connects to more than 12,000 financial institutions nationwide with banking-level security and encryption to ensure money arrives securely through ACH payment transfers, mitigating the growing risks of wire fraud. The partnership with Lone Wolf extends this invaluable service to 1.4 million agents, 9,000 brokerages, and 20,000 offices across Canada and the U.S.
"We're very excited to partner with Lone Wolf," said Rick Altizer, CEO of Earnnest. "Today's home buyers expect an entirely digital experience, and Earnnest is uniquely positioned to deliver it. Our platform was built by real estate veterans who remember the days of chasing down paper checks, and we're determined to make electronic payment the norm in real estate within two years. Together with Lone Wolf, we'll save buyers and agents time, ensure every stage of a real estate transaction happens safely and securely online, and further our collective mission to change how money moves in real estate."
"We're elated to add this amazing platform to our curated technology ecosystem," said Jason Cheverton, Director of Ecosystem at Lone Wolf. "This ecosystem now includes integrated solutions and services for front office, websites, CRM, moving, home inspections, and secure online earnest payments. We will continue to collaborate with other leaders and innovators to add to this ecosystem and bring the industry an entire marketplace of best-in-class real estate technology."
About Lone Wolf Technologies
Lone Wolf Technologies, a Vista Equity Partners portfolio company, is the North American leader in residential real estate software, serving over 1.4 million real estate agents, 20,000 offices, 9,000 brokerages, and 1000 MLSs and associations across Canada and the U.S. The company offers an ecosystem of technology products designed to simplify the entire transaction process, including software for back office and transaction management. Each element of this ecosystem enables brokerages, agents, MLSs, and associations to operate more efficiently, reduce costs, and increase opportunities for profitability. Lone Wolf's head office is located in Cambridge, ON, with additional offices in Dallas, TX, London, ON, and Fraser, MI.
Greenville, S.C.-based Earnnest is changing the way money moves in real estate. The digital platform allows 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. Learn more at Earnnest.com.