The world of real estate is adopting new technologies at an incredible speed. Title companies that have not kept up with the latest trends in technology may find themselves having to play catch-up, but it’s still better than lagging behind and treading water. Remote Online Notarization (RON) has been a major talking point in real estate in recent years and may be what sets you apart from other title companies. Technology can make workflow more efficient in many ways, and we’re discussing two components to focus on: digital closing solutions and secure document transfer.
Adopt Digital Closing Solutions
The process of closing a real estate transaction can be made much more efficient with specific digital closing solutions. Most states and municipalities across the United States allow eRecording, which can improve the time to record certain documents as well as potentially reduce the number of rejections. Title companies across the country eRecord thousands of documents daily to make their work more efficient.
RON can be another major time-saver for title companies and home buyers alike. The ability to have documents notarized remotely and electronically saves a significant amount of time compared to scheduling a time to meet in person. And with eSignature software, title companies can send documents securely to buyers to sign ahead of their closing meeting. This allows home buyers more time to read the documents with less pressure and title company agents to quickly scan through the documents after signing.
Transfer Closing Documents Over A Secure Channel
Home buyers and realtors will have questions throughout the process of a home closing. Most of the time these questions are directed to the title company, and it can take time to drop everything you’re doing to look through a specific file to answer the question. This is where a virtual closing assistant is changing the game in real estate transactions to reduce the volume of phone calls and allow agents to focus on more complex tasks.
The virtual closing assistant can be integrated with your software so documents can be easily and automatically retrieved and sent to the home buyer or realtor via a secure channel. Many questions can be answered through the virtual closing assistant, which allows title company agents to handle other tasks more efficiently. And maybe the best part is the 24/7/365 availability to help answer questions outside of normal business hours.
Growth Comes With Positive Change
Title companies have traditionally been behind other sectors in real estate when it comes to adopting new technology. The best way to grow your company is by implementing positive change, which should start with upgrades in technology. Adopting eRecording, RON and virtual closing assistant software can be the basis for positive growth since they directly impact your agents and the people you work with.
Alanna.ai develops innovative software for the title industry. Learn more about how we can help you succeed.