Technology TransactionsManaging A Smooth Closing
Do you ever wish you had a personal assistant? Someone to make sure your favorite suit is clean and ironed for your big meeting? Someone to keep your refrigerator stocked, so you don’t run out of milk? In short, someone to keep your life running smoothly, to make sure crises are averted before they happen? When it comes to real estate transactions, you do have an assistant: your title agent.
Surprised? That’s probably because your closings go smoothly. And the reason they do is that your title agent provides a valuable service called transaction management. From arranging the title search to hosting the closing, title agents help keep transactions moving, so your deals close faster.
More than just insurance
Traditionally, title agents have been responsible for coordinating the title search and escrow services and issuing the insurance policy. But agents provide much more than insurance. As transaction managers, they provide peace of mind.
Transaction management is part trouble-shooting and part communication. It’s delivering the information and service you and your customers deserve – and may not even know you need – in a timely manner.
As transaction managers, title agents take care of the details, so you can take care of your customers. Title agents make sure all forms are filled out correctly and submitted on time. They also order services such as flood reports, coordinate inspections and make sure that you, your customers, the lender and all other parties have the information needed to keep the transaction moving.
Keeping all parties up-to-date on the status of the sale is another key function of transaction management. Knowing where the transaction is in the process will make your customers feel more comfortable and help you monitor the deal. Title agents facilitate communication among parties, empowering you and your customers with information about sale, listing and financing.
The Internet has made this faster and easier than ever. Web-based programs like RealtyAssist give you access to transaction details and status, in a secure environment. Real-time reports keep everyone fully informed, so you and your customers know where things stand and what happens next. Such programs also help you to view, organize and deliver documents online, eliminating the time it takes to print and deliver paper copies, helping you close faster and streamline your business.
As transaction managers, title agents are the hub of the transaction, acting as a single point of contact for information and service. Along with comprehensive title insurance policies and closing services, title agents can provide you with valuable assistance to help you save time and provide better customer service.