MRED adds payment feature to listing service

LISLE - Midwest Real Estate Data said it is partnering with TrustFunds to provide its members the ability to easily request, send and receive electronic earnest money for real estate transactions.

TrustFunds, which will debut with MRED early this summer, adds yet another way for subscribers in the mutual listing services to enhance their businesses.

MRED is one of the largest mutual listing services in the U.S., with more than 47,000 subscribers. TrustFunds serves more than 100,000 Realtors nationwide and its platform has facilitated more than $785 million in earnest money transactions to date, the companies said.

"Our members have been asking for TrustFunds by name, showing an awareness of the product's potential value in our marketplace," said Rebecca Jensen, MRED president and CEO. "This is a great opportunity for MRED to provide a best-in-class product while also increasing security and improving process.

"As the real estate transaction continues to become more digital, we want to find partners that will make our subscribers' businesses easier and more efficient."

MRED serves real estate agents in Illinois and portions of southern Wisconsin and northwestern Indiana.