Technology has undoubtedly changed the way companies do business and how consumers interact with organizations. Today, tech resources are involved in everything from providing customer service to securing data. It’s becoming difficult to find a business operation that doesn’t rely on automation. This is even becoming a reality in the title industry. However, due to the highly-focused job role of a title company, many businesses are still taking a traditional approach.
In the competitive real estate industry, title companies need to keep pace with the changes in technology if they want to remain competitive. This means understanding how technology can help and implementing a title company resource that harnesses the power of artificial intelligence. Let’s go over how this resource can help a title company live up to today’s consumer standards.
A Focus on the Customer Experience
People now expect businesses to provide a high-quality experience that’s convenient and fast. The use of technology has raised the bar, which means title companies have a responsibility to meet consumer expectations. One of the easiest ways to do this is by incorporating an AI-powered virtual closing assistant that clients and title agents can use. With this resource in place, real estate agents, buyers, sellers, and lenders can communicate with a title company without having to call them directly. A dynamic intelligent agent interaction can help answer questions regarding a closing. If the client needs additional help, a title agent can step in to provide solutions. This is much more convenient than having to play phone tag to get answers.
Closing on a piece of property requires lots of crucial paperwork. Things like insurance, a closing disclosure, escrow account information, and title research are all part of the process. Title companies are responsible for generating and distributing a lot of these documents, which contains sensitive information. They can keep these documents secure by using a virtual closing assistant. This resource acts as a repository for information, keeping all documents digitally organized and safe. If a client needs access to a document, they can request it through the virtual closing assistant.
A huge amount of business is conducted via tablets and smartphones today. This is now the norm. If a business doesn’t provide mobile customer service, they’re bound to fall behind in their industry. This is why a virtual closing assistant is such a powerful title company resource. Clients can interact with them from their phone via chat or text message. They can even access any documents related to a closing without having to be at their desks. This level of versatility makes the closing process go much smoother and also increases client satisfaction, which is great for a title company’s reputation.
Embrace Technology in the Title Industry
If your title company is still using the same operational methods that have been in place for years, it’s time for a change. Harnessing the power of technology will help you provide the service people have come to expect.
Alanna.ai develops scalable AI-powered software for the title industry. To learn more, request a demo today.