A ground-breaking new deposit system is starting to change the world of Canadian real estate. The exciting details of this development can be found at www.exactdeposit.ca. The masterminds behind the plan are Chris Ryan and Kevin Kline. Biographies detail Ryan’s ample experience in real estate and Kline’s extensive work with various corporations. The project, in its infancy, has been featured in the Financial Post. Met with enthusiasm, it brings delight to Realtors and their clients. One aim of the project is to replace cheques. Time-saving is a huge benefit of being involved with ExactDeposit. The process “takes a few minutes”. Authors of the project website remind viewers of the old system and its burdens: “Cheque hassles. Missed deadlines. Deals & sales commissions in jeopardy.”
The first successful transaction in Western Canada was just processed by an agent from Realty Executives Progressive this weekend! This was a huge milestone for Realty Executives Progressive as they are setting the standard for using cutting edge technology in today’s quickly changing market place.
The writers of the website promise that “All you need is your smartphone, tablet or computer and an Internet connection”. Yay! Staff at ExactDeposit walk viewers through the simple steps: following the creation of a deposit invoice by the Realtor that is emailed to the buyer, the homebuyer makes the payment, following instructions. Receipts are sent. Concerns about safety? Security is ensured. Refunds are easily handled with “the click of a button”. Several payment options are available, so buyers can choose how they’d like to pay.
Receipts, reminders, and notifications (all automated) are on the list of the convenient features associated with using ExactDeposit. Creators of the ExactDeposit website have established that using the service for deposits will cost homebuyers nothing as long as their deposit is under $10,000. It has been explained that Realtors’ and brokers’ fees are likely tax-deductible. Creators of the site also make the point that “positioning yourself ahead of the curve” is an important motivation to use ExactDeposit. A list of firms who trust ExactDeposit includes Royal LePage, Remax, Coldwell Banker, and others. ExactDeposit has had a talented team of advisors helping the project materialize. Computer science expertise has been poured into the project. Accomplished real estate experts and financial professionals have contributed as well.
ExactDeposit has received rave reviews from both realtors and home buyers; busy clients on the go have gladly used it. Endorsements by clients mention time saving, simplicity, avoidance of risk, convenience, and other rewarding merits of the system. Website creators remind home buyers of the overwhelming task of buying a home: “your head is swimming with details”. They note that “the last thing you need to worry about is finding that lost chequebook or running to the bank …if the deposit is not received in time, your deal could be in jeopardy.” An added benefit for homebuyers is ExactDeposit Connect, which hooks up customers with “home ownership related retailers”. If you’re considering using ExactDeposit, don’t forget about credit card benefits such as travel points that will result from using the service.
The Financial Post ‘s article by Alexandra Posadzki of The Canadian Press summed up the advantages as follows: ” The mad scramble involved in putting down a deposit on a new home can be more than just a hassle — in some cases it can even be a deal breaker … the process that often involves homeowners making multiple bank visits, skipping work and racing to the realtor’s office before closing time could soon be entering a new era”. This is an exhilarating change. Members of the City Link Real Estate team are happy to be the first team in Western Canada to get involved.
Written By Brenna Turvey.