If you have a deal in a State that Requires Real to hold Earnest Money / Escrow / Trust deposit funds, you will need to deposit funds to Real's trust account and update your transaction in reZEN.
The states where we will hold EM Deposits are:
- Alaska
- Connecticut
- Kentucky
- Maine
- Massachusetts
- Minnesota
- New Hampshire
- New York
- Ohio
- Rhode Island
- Utah
- Vermont
Watch a quick 4-minute video on how to deposit funds to our Trust Account (also called Earnest Money / Escrow) - or keep reading for step-by-step instructions.
Step 1: Login to reZEN. Click My Transactions, then click on the Transaction you need to deposit or track funds.
Step 2: Click the Deposits tab on the transaction.
Step 3: Click Manage Trust Deposits.
Step 4: Click + Add Deposit
Step 5: Enter all of the information - including the amount to remit and when to expect funds. Select whether funds will be remitted to Real or the other Brokerage.
- Description: Trust
The next step will depend on how the funds are being deposited. Click below for the next step:
- If you have the check and want to deposit electronically - click here
- If someone else has the check and wants to deposit electronically - click here
- If the funds will be wired or deposited directly at the bank - click here
If you have the check and want to deposit electronically -
Step 5: Click Deposit Real's Check. A module will open. Enter the amount of the deposit and then take a photo of the front and back of the check (or upload from your computer). Then, click Preview Deposit.
That's it! You are done! Once complete, the installment will be added to the transaction in reZEN.
Your deposit should be confirmed within 24 hours. If the deposit is not confirmed within 24 hours, please contact Real Support.
Once the check is deposited, make sure you complete Step 2: Upload Transaction Documents, then you can go to Step 3: Calculate & Approve Commission.
If someone else has the check and wants to deposit electronically
Step 5: Click Get External Trust Deposit Link. This will generate a unique link you can send to the person holding the cheque to deposit it directly to our Trust Account. Click Copy Link and send this link to the external depositor (person with the cheque).
Step 6: The Depositor will open the link and follow the instructions:
- Depositor's Full Name: is the person depositing the check
- Email address & phone number: is for the person depositing the check
The depositor should click Next once this is filled out.
Step 7: The depositor will enter the deposit amount and upload the front and back of the check, then click Preview Deposit.
- For best results, make sure all four corners of the cheque are displayed and the picture is taken on a dark background.
That's it! Once deposited, you will see the check under the Trust Deposits section in reZEN. This should be confirmed within 24hrs of deposit. If it's not confirmed, please reach out to Real Support.
Once the check is deposited, make sure you complete Step 2: Upload Transaction Documents, then you can go to Step 3: Calculate & Approve Commission.
If the funds will be wired or deposited directly at the bank -
Step 5: Make sure the funds are deposited into the correct Account. The check can be deposited at a Chase Bank or funds may be wired. To find the Trust Account information for your State:
- Click My Office on the left side.
- You will find the Trust Account information right below Banking Information.
Step 6: Once the funds are sent to Real, go to the deposits tab in the transaction and click Manual.
Step 7: Fill out the deposit information and click Add.
That's it! Once complete, the installment will be added to the transaction in reZEN. Real’s Accounting team will review the receipt and match it to the funds in our bank account. Once the deposit is matched, the status will change from Not Confirmed -> Confirmed.
Once the check is deposited, make sure you complete Step 2: Upload Transaction Documents, then you can go to Step 3: Calculate & Approve Commission.
Still have questions? Need to report an issue? Please contact Support for assistance: How do I contact Real Support?