Technology has infiltrated seemingly every part of our lives, making it easier for us to manage our household needs, conduct our professional obligations and organize our personal lives. So it stands to reason that technology is driving change for title companies as well. The outcome: the work that has to be done when buying and selling a property becomes that much easier for you, no matter which side of the exchange you’re on.
Exactly how is technology changing the world at the title company touchpoint?
Four ways technology is improving the signer experience
One of the challenges that all signers face is that signing documentation—at least in the past—required a trip to the title agent’s property. Sometimes that’s no big deal, particularly if you live in the same town and your schedule is flexible. But most of us juggle busy schedules and would rather not carve out half a day to travel to an office and sign paperwork, no matter how exciting the transaction.Enter technology. With the online and remote capabilities that technology now affords us, notarization and completing paperwork is as easy as ordering something online. As a result, signing can happen on-demand from anywhere around the globe. All you need is an internet connection and a camera on your cell or laptop. So if you’re an expat living abroad or a frequent traveler for business or relaxation, you can close on your home without the headaches you might have endured in the past. Simply log on when it’s convenient for you, and it’s good as done.
Technology has given title agents the tools they need to streamline their processes, making the entire signing stage of the real estate transaction seamless and more efficient. Tech these days makes interaction with all parties easier than ever, which means any questions that arise from the complexities of the transaction can be swiftly answered and put to rest. In fact, the entire pre-signing lead-up is easier than ever before thanks to technology.
“Sure, things are easier,” you think, “but are they really better?” It’s natural to have questions about whether technology really makes the process better, but it certainly does in one major way: error elimination. Hard copies are hotbeds for mistakes. Think missed signatures, incorrect figures and the like. When forms go electronic, there are far fewer opportunities for errors and missed signatures. Instead, everyone involved enjoys having a primary storehouse for information and fact checking. Soon to be gone are the piles of printed documents and the photocopies that have to be shipped. Now with just a click, the paperwork is in the hands of everyone who needs to lend it their signature or needs it for their files.
After signing, there may still be a few loose ends, and technology makes the post-signing communications that much easier. Everything from tracking documents, auditing and recording forms can be done electronically, and that means you can access those documents whenever you need them. Better yet, every critically important document can even be tracked and indexed every step of the way.
Technology ushers in a new era for title companies
It goes without saying that technology is changing the face of the industry for title companies. But when it’s time for you to take a seat at the virtual or in-person table, it may be nice to know that there’s still a human face at the front of the entire process. Unlike some industries where tech takes the place of human interaction, a great title company will always be responsive and provide human expertise—something that can never be matched by tech, no matter how advanced it becomes.