Online closing makes real estate sales and purchases simple! Imagine this scenario… your real estate client has just accepted a new job in a new town. It’s time for her to pack everything up and put the house on the market!
Even if your seller accepts an offer the very first day that her home is listed, there likely will be at least a three week waiting period before closing. By then, she might have already moved. And now you have to ask her to travel all the way back just to sign the closing documents?
Luckily, the days of relying on snail mail and over-priced airline tickets to close long-distance business deals are behind us. The real estate boom of 2021 coincided with the COVID-19 epidemic at just the right time to fan into flame the growing popularity of online real estate closings. But what does this mean for realtors?
First, if you haven’t recently brushed up on your Zoom skills, now is the time. In most cases, there will be some sort of online conferencing component to the closing process. Buyers and sellers won’t necessarily be up to speed on their remote technical skills, so be ready to provide some light “IT” help as needed.
Second, make sure that you’re working with a closing company that can handle the online closing process. One of the great things that sets Turner Title apart from other title services is our ability to transition easily between in-person and online closings, and even provide a mobile notary to both the buyer and seller!
Finally, as always, make sure to remind your clients not to respond to emails containing Wire Transfer Instructions. Wire fraud is a growing issue. Help your clients stay safe by personally providing them with the exact contact information of their closing team. A direct introduction is even better! Remember – just because the closing is happening remotely doesn’t mean that the process needs to be impersonal. Let your buyers know that they can reach out directly to a member of Turner Title’s team if they have any questions about the origin of any communication they’ve received.