Many people don’t understand exactly what a title company does and how integral they are to the closing process. In fact, many first-time homebuyers don’t even realize a title company needs to be involved. In many cases, the real estate agent representing the home buyer will be the one working directly with a title company. However, buyers still have a part to play in the process.
In order to provide the very best customer service possible, title companies need to be able to interpret their client’s needs. They also need to be able to assist them throughout the closing process. That’s why AI-powered virtual closing assistants are becoming a popular title company resource. With one in place, title agents can provide a better customer experience. However, it helps if a title company understands what types of questions buyers have. That’s why we’re going over three common ones.
How Can You Assist in the Closing?
Once a home transaction starts nearing the closing, the buyer will most likely get a good understanding of what a title company provides. Things like title research and insurance are both things that will be explained by the real estate agent. However, it’s important that buyers know that a title company can also provide closing cost estimates. By having a title company resource such as a virtual closing assistant, you can provide your clients with reliable closing cost estimates simply by entering a few pieces of information. In this instance, a virtual closing assistant saves time and makes the process of generating a closing cost estimate easy.
How Do Your Closing Agents Communicate With Clients?
Communication is very important during a real estate closing. All parties need to have the right information and understand where things are in the process. Because title companies must communicate with real estate agents, buyers, sellers, and lenders, they need a good system in place. Incorporating a virtual closing assistant is the perfect solution. This resource allows real estate agents and buyers to get answers to their questions without having to call the title company directly. They can do this 24/7 and communicate with the virtual closing assistant via their mobile device or on the web. Not only does this make things easier on real estate agents and buyers, but it also reduces the number of phone calls and text messages a title company has to field.
What Documents Are Required During a Closing?
A title company must facilitate the creation and distribution of a large amount of information. Buyers are often confused about what documents they need and how to get them. Things like a closing disclosure, escrow statement, inspection report, and title research are necessary for a closing to go through. If a title company has an AI-powered virtual closing assistant in place, their clients can access these documents securely, even from their mobile phones. This means no scrambling to get documents together at the last minute or forgetting what information has already been gathered.
Make Things Easier on Your Clients
Title companies are always faced with a lot of questions from their clients. They can make things much easier on them by providing a title company resource like a virtual closing assistant.
Alanna.ai develops flexible AI-powered software for the title industry. To learn more, request a demo today.