August 4, 2022

What to Look for In a Title and Escrow Officer

A title agent is responsible for verifying the validity of a title on a piece of real estate by searching through public records before closing a real estate sale. After the real estate transaction has been completed, escrow agents will complete the legal paperwork, transfer the funds, and ensure all property agreement requirements have been met. A title company will often have in-house escrow officers or can partner with an independent escrow company where need be.

Any real estate transaction that uses a title and escrow officer avoids fraud, costly mistakes, time delays, transactions, and capital loss. As a real-estate agent, below are some qualities of a title/escrow officer that you should keenly evaluate in your upcoming real estate transaction:

1. Reputation

There are numerous authorized title or escrow officers, and how they execute a transaction will often vary. Finding an escrow officer with a good reputation is very crucial. You should conduct thorough research to find an ethical business with excellent ratings and consistently recommended by other real estate agents. One quick and efficient way to learn about a title company’s reputation is to read customer reviews. These reviews are essential and will help you ascertain whether they provide the advertised services.

2. Experience

A financial transaction can succeed or fail based on the expertise of the advisory title and escrow officer. Therefore, experience is one of the critical factors to look out for. An experienced title officer will easily detect fraudulent activities. There are many ways to trick the lender or the buyer, so a title office must be very keen on assets with a dubious title, lien, or identity, and ownership issues.

3. Timely communication

A successful relationship between real estate agents, prospective homeowners, and title agents depends on communication. The capacity for regular and effective communication is key. It’s crucial to frequently keep tabs with the seller and the title/escrow agent throughout the transaction. The title company should also have systems that allow for instant and on-demand documentation recovery and updates. For instance, they ought to store their paper records in the cloud to quickly and easily retrieve them.

4. Ability to Leverage Technology for Effective Coordination

The management of important dates and deadlines by title officers requires communication and coordination with real estate agents, clients, lenders, and attorneys. Your title officer should provide guidance and assistance regarding the closing dates, signing of documents, and the proper scheduling of various closing services. A successful closing depends on maintaining a consistent and up-to-date information system among all the involved parties.

5. Ability to Offer Personal Support

Personal support is another important attribute when selecting your title/ escrow officer. Most real estate agents and clients prefer to know they can meet face-to-face with the title agent or speak to them on the phone, as technology creates a more impersonal work and communication space. In contrast to an email or text message, a brief phone conversation can give you or your client a sense of importance.

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The most critical thing a title/escrow officer can do is ensure clients have a seamless, stress-free, and satisfying experience. How they handle closing and schedule the transaction indicates how experienced, trustworthy and reliable they are. As a real estate agent, your best chance of increasing business and preserving your reputation is to give clients a positive and memorable experience. This begins by choosing a title and escrow officer who can guarantee the same.

At Element Title & Escrow, we work to provide exceptional services that meet the highest standards and have earned a solid reputation for offering quality and effective closing services. We are proud of the professionalism and honesty we provide to each one of our clients and are dedicated to providing the best experiences. Get in touch with us today, and we’d love to help.

August 4, 2022