Instant Pay allows an agent to receive funds prior to Side receiving the payment from escrow. With Instant Pay, the agent will be able to confirm the close for qualifying transactions in two different ways below:
- Certify through the email message on the closing date (often referred to as COE)
- Certify through the [Certify Now] in Payments Center for the respective transaction
Once approved, Side will pay all parties on the transaction, and then work with escrow to ensure funds are received.
To be eligible for Instant Pay, the following conditions must be met:
- Compliance has been met on file
- Commission form has been completed
- Commission statements have been reviewed by Side
Instant Pay does not apply to:
- Lease or new construction transactions
- Internal (between Side partners) or incoming referrals
- Transactions with outside brokerage fees
- Transaction that exceed $75K in GCI
You can see more information about Instant Pay HERE.