For most people, buying a home is a big milestone.
Homebuyers know that the process will be different from other buying processes they’ve experienced before—after all, it is likely by far the largest purchase they’ve ever made. They don’t typically know, however, just how different the closing process is, and not in a good way.
Up until closing, buyers have positive experiences as they get pre-approved for loans, tour homes with their agent, and imagine where they’ll put their favorite reading chair and drink their morning coffee. They feel disappointed when they miss out on a great home by getting outbid but quickly get back on track when their offer on an equally perfect home is accepted. It’s time to close, and they feel like they’re almost at the finish line!
As an agent who’s experienced more than a few closing processes, however, you know that the finish line is still pretty far away. In fact, while your clients may be giddy with excitement about breezing through closing and moving into their new home, you’ve likely been dreading this part of the process.
Thankfully, closings don’t have to be painful, and there are several concrete reasons to invest in a strong closing.
A fast closing gives you time to focus on other activities
Your clients have picked their dream home, and you’re ready to close the deal. The last thing you want to do at this point is go back and forth with your title company over minor details and errors. With a streamlined closing, you save valuable time, which you can then use to find new clients and better support your existing clients.
A reliable closing allows you to provide great service
It’s an experience most real estate agents are all too familiar with: you’re meeting with a client who is eager to move into their new home, and you’re missing a piece of information from your title company. You try to find answers to your client’s questions, but no luck. Without answers, you can’t move forward in the closing process and are left trying to placate your increasingly anxious client.
A modern closing keeps you ahead of the competition
Nowadays, people are accustomed to accomplishing tasks online with ease and convenience. Piece by piece, the homebuying and selling process is becoming digitized as some sectors of the industry are starting to use technology to provide a better experience for customers and propel their business growth. A modern closing is one that meets customers’ expectations for an on-demand experience and leads your customers to rave about your services to friends who are looking for an agent down the road.
Strong closings improve the homebuying process overall
As a real estate agent, you’re busy researching listings, staging and showing homes, generating leads, working with clients, and more. With such a jam-packed schedule, it can feel daunting to think about spending time improving a part of the homebuying process that, while not great, is “getting the job done” as is. But by investing in a strong closing, you’ll get time savings on every transaction and be able to use that time on what you do best: supporting your clients in their homebuying journey. The ripple effect of a strong closing is huge. By being freed up to provide high-touch service to your clients (and saving them from the frustrations associated with the traditional closing process), you’ll generate more referrals and repeat clients.
By working with a technology-forward partner like Doma that eliminates the problems that come with manual and outdated closing methods, agents can tap into the benefits of a strong closing and grow their businesses.
To learn more about how to deliver a closing experience that meets customers’ growing expectations, download our Executive Brief “Deliver a Modern Homebuying Experience.”