Brokering the sale of any high priced item is never easy. Not only do you have to find either a willing party to sell their possession, or one who is interested in buying, you then have to juggle all of the negotiations and final agreements between the two. To make things easier, an online escrow company like PaySAFE can help by receiving and disbursing funds among all parties – including your broker fees – and tracking documentation and approvals through time stamped histories.
With a service like PaySAFE, your brokerage can also:
- Outsource fiduciary responsibility and avoid co-mingling of client funds and day-to-day operating cash
- Put the buyer and seller at ease in knowing that funds are held with a bonded and insured neutral party that is one-step removed from the broker
- Align motivations – sellers know that brokers only get paid at the same time they are
- Reduce operational costs – outsource your back office to a bonded and insured company like PaySAFE that specializes in collecting, reporting, and releasing funds. No longer will you need to monitor and manage multiple bank accounts.
- Provide 24/7 access – PaySAFE’s services are available at all times. While fund transfers are still beholden to traditional banking hours, requests and approvals from either party can take place at anytime, day or night. PaySAFE’s documentation history is also available at any time, allowing both parties to see time-stamped records of when actions took place within the platform.
Ultimately, online escrow through a company like PaySAFE provides greater security for both you and your clients. You can rest easy knowing that the transfer and reporting of funds is monitored and executed by a team of financial professionals, and your clients receive an extra layer of protection and documentation when buying and selling boats, cars, ATVs, firearms and other high dollar items.
For more information on how PaySAFE can help you or your business with brokered transactions, call 877.638.1518 or email support@PaySAFEescrow.com.