Title companies have many responsibilities and must champion several roles while providing service to their client base. Whether facilitating title insurance or navigating the client through the closing process, agents need to ensure everything gets done in a timely manner and without errors. If a title company’s operation is full of complications, they risk staining their business reputation.
Many organizations in the title industry are incorporating AI-powered resources to help them maintain operational efficiency. More specifically, technology that provides a virtual closing assistant can make things much easier for both agents and their clients. By striving to create a seamless operation, a title company can take on more clients and experience faster growth. Let’s go over the ways an AI-powered title company resource can improve efficiency.
Agents Work Smarter, Not Harder
Real estate agents have been through specialized education and often have years of experience under their belts. With this level of expertise, there’s no reason they should be spending their time answering phones and doing menial paperwork. This simply isn’t efficient. A virtual closing assistant can solve this problem in several ways. First, clients can interact with the assistant via chat or text to get answers to questions related to their account. The virtual closing assistant can also send pertinent documents upon request without having to contact the title company. This allows agents to focus on things that require their knowledge and skillset, leaving smaller, administrative tasks to the virtual closing assistant.
Increased Accuracy Equals Efficiency
In the title industry, errors mean the process of buying or selling a home slows down. Oversights can even hurt the buyer of a home after the sale has gone through. However, with a virtual closing assistant, a title company can ensure a high level of accuracy, making the process as efficient as possible for each client. With a virtual closing assistant in place, all documents related to the closing are kept up-to-date. This resource can also help title companies generate accurate closing costs for the buyer and seller. All an agent needs to do is enter a few pieces of information and the virtual closing assistant will provide a reliable closing cost estimate. Finally, because artificial intelligence is working behind the scenes, clients can chat with the virtual closing assistant and get real-time information related to their account.
Bottlenecks and confusion are often the results of a breakdown in communication. This is something a title company can’t afford to have happen. This is an area where an AI-powered resource can provide a high level of efficiency. Agents, sellers, and buyers can all communicate with a virtual closing assistant 24/7. Even if someone has a concern at 3:00 AM, they don’t have to wait until the next day to get an answer. Plus, a virtual closing assistant can facilitate mobile communication, which means all parties involved in the closing can get answers and information on the go.
Make Your Title Company More Efficient
Don’t let a disorganized operation lead to loss of clientele and revenue. Add a virtual closing assistant to your infrastructure to make things easier, faster, and more enjoyable at your title company.
Alanna.ai develops flexible, scalable AI-powered software. To learn more, request a demo today.