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What To Look For In A Title And Escrow Company

5 Important Things Realtors Look For In Title Companies

 

At Tru Realty, we are purposefully picky when it comes to choosing our partners. One of the more critical partnerships any real estate brokerage can have is the one they have with their Title and Escrow company. Outside of the real estate agents for each party, no other entity that’s involved in the sale or purchase of a home has more impact on the transaction.

There is no doubt that the relationship that an agent has with their client can be positively or adversely affected by how well the supporting (and necessary) components of a typical real estate transaction execute.

Due to the structure of our brokerage, our agents are free to select the title partner of their own choosing. We most certainly have preferred partners that have shown us their ability to be both reliable and consistent with their service to us. They also go above and beyond to support the partnership. For this we are grateful and for this, we steer the majority of our closing to them for stewardship.

We recognize the competitive nature of title and escrow. It is especially pronounced in our market. For the partners who have chosen and those that we will consider in the future, here is the criteria we hold you accountable to.

1. Responsive Communication

Title and Escrow Companies need to communicate with our agents all of the various steps or complexities that need to be done in order to ensure a smooth real estate transaction. It’s important that they convey their processes in a way that’s easy for our clients to understand. This means providing the detailed information people need to understand what they are doing. In many cases, the clients are coming to the signing table with a lack of knowledge and potentially even some trepidation. While we hold our agents to high standards in regards to how they communicate with their clients, it’s equally important that the escrow officer also be able to clearly communicate as well.

2. Seamless Experience

Tru Realty clients rely heavily on their agent and broker to guide them through the sale or purchase of a home. Almost always, clients will let the trusted agent select the title and escrow company that is used for their transaction. It is therefore critical for that partner to provide an experience that is as smooth as possible with few, if any, issues that require extra effort on the part of our clients.

3. Contract Knowledge

I can’t emphasize the importance of having a title partner that is staffed with knowledgeable experts who know the real estate process inside and out. I favor title companies that have real estate lawyers on staff who have already worked their way through years of settlements and closings. It’s an invaluable asset to always have legal experts on hand. This way, you and everyone else involved in the transaction, can have peace of mind that your sale will go as smoothly as possible.

4. Advanced Technology

Tru Realty is a real estate brokerage that utilized the very latest technology to serve their clients and support their agents. We look to partner with title companies that offer enhanced services by way of advanced technology and app innovations.

This allows us to not only speed up the transaction process but also make it more convenient for the clients. This results in a better experience and a higher likelihood of referral or repeat business. A good real estate title company in 2020 should have the technology it takes to create an efficient, quality-driven process. From electronic market data and financial projections to eSignings and a convenient web portal, utilizing innovative technology is just smart business.

5. Trust

All the attributes in the world are lost when the human element of business does not deliver. At Tru Realty, it is mandatory that our title partners show reliability in their words and in their actions. This builds the rapport we need to trust that you have our clients’ best interests at heart. For the typical consumer, the real estate transaction is a rare yet critically important component financial event in their life. If any element of this process falls short of their expectations, the real estate agent will ultimately take the blame for your failure. Our title partners must never let us or our clients down.

Fortunately for us, Tru Realty has partnered with some of the best title companies in the industry. We appreciate their efforts to maintain excellence in every step of the real estate process. As with other aspects of our industry, the title business continues to adapt to the many changes we see from the economy, consumer behavior, and of course, technology.

If you are a real estate agent seeking to partner with one of the top brokerages in Arizona, let’s chat! Tru Realty is always looking for the best and the brightest while offering our agents opportunities that other brokerages just don’t have. Interested? Send me an email at sarah@trurealty.com or give me a call at 480.327.6700.


About the Author

Sarah C. Richardson is one of the preeminent leaders of residential real estate in Arizona. As the CEO and founder of Tru Realty, she is responsible for both the daily operations and oversight of the multiple growth strategies that the brokerage carries out. Sarah launched Tru Realty in 2010 as a way to serve a marketplace that was seeing a shift from auction centric fix/flips to an MLS flow. She is now rethinking the way her brokerage uses technology to better serve clients and agents alike.

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