The home buying and selling process can be complicated, involving lots of negotiations and paperwork. As a real estate agent, you want your clients to enjoy a smooth market experience while also gaining trust in handling your obligations.
Since the home buying or selling process is so broad, you’ll need the help and input of other professionals or companies. One of them is the title company. So what is a title company, and how do they benefit realty agents? We have answered these questions and more in the sections below.
What is a Title Company?
A title company, as the name suggests, is a company that researches a property title and issues title insurance. The company serves as a third party and plays a critical role during the closing process. On the other hand, a title is a document that shows the asset owner and specifies that they have the right to use and even sell the property in question. It also indicates whether the property is clear or not, i.e., if there are any claims or liens on it.
After conducting the title search and confirming that the title is clear, the title company issues title insurance. The latter protects the buyer and mortgage lender if there are claims or ownership issues against the property. Besides playing these roles, the title company can also
Manage the escrow account – they hold the escrow deposit and disperse the funds at closing. Oversee closing – in some states, the title company can draft documents and obtain the buyers’ and sellers’ signatures. They ensure the closing process is done per the law and all the parties are satisfied.
How Do Title Companies Benefit Realty Agents
Closing a real estate deal is always worth celebrating, but not if you didn’t follow all the due processes. Working with a title company eliminates any fears and worries during closing, allowing you to handle clients confidently. Here’s how title companies/agents benefit realty agents.
Instead of sourcing various services from different professionals, a title company offers most of the services, allowing you to close the deal quickly and conveniently. Whether you need someone to set up and manage the escrow account or oversee the closing process, your title agent has got you covered.
The fact that you can deal with one professional from title search, and escrow management, to placing the final signatures means you can get a bargain on the closing fees. You also want to ensure the title company you choose is flexible enough to accommodate your unique needs.
Peace of Mind
Working with a title company means you can enjoy some peace of mind throughout the closing process. While conducting the title search, the title agent can help uncover issues with the property that could cause legal battles down the line. That means you won’t have to worry about past clients coming after you due to outstanding loans, unpaid fees, liens, and other developments with the property.
Take Action Today
As a real estate agent, your clients want you to help them streamline the home buying process.
They want a quick close with an assurance that the property they are buying is free and clear. That’s why working with a reliable title company is a no-brainer.
At Element Title LLC, we work with real estate agents to instill confidence in their business and enrich their client relationships. We want to grow with you while exploring the great opportunities that lie ahead.
Whether you need comprehensive title insurance protection, escrow management, or other closing oversight services, we are here to help. Contact us today, and we’d love to work with you throughout the home closing process.