How Digital Automation is Transforming Title for Real Estate Investors (And it’s going to be great!)
The real estate title and closing process is painfully archaic – relying on a mix of physical paperwork, email, fax, phone calls, and in-person meetings. The traditional process is also extremely dependent on a single point of contact within the title company, which creates significant risks. When that person gets busy, takes vacation, or calls out sick, everything can fall apart quickly. For real estate investors, these factors result in slow, opaque processes and far too many variables that can derail on-time closing, and demand hands-on management. Title and closing are ripe for an efficiency overhaul and automation can help!
It’s long overdue, but digitization is changing the way real estate transactions are handled. Listing properties with digital platforms like Zillow or Redfin has become the standard, but other areas of the real estate industry have been slower to evolve. Getting approved for a mortgage without having to physically visit and fill out paperwork is still not universally available. In the way that Turbotax reimagined taxes for the modern age, digitization and automation will reshape the title and closing industry.
A smarter, digital approach to property title
Automation is finally coming to the title space, just in time to support the new generation of real estate investors. For the always-connected investor, the outdated traditional processes won’t cut it.
Empora Title is bringing the power of technology and automation to the title space. We have built a tech-forward platform for real estate investors. At its heart, Empora’s platform is aimed at increasing efficiency and transparency while reducing headaches and heavy lifting. By creating a digital hub, all communication and paperwork is consolidated into one dashboard. This creates a single source of truth for each deal, and significantly reduces the amount of time and effort it takes for a real estate investor to shepard each property transaction through the closing process.
This is a lot more than just collecting all deal-related assets and communications into one place. We’re developing new ways to leverage technology to improve the customer experience. For example, title work is automatically submitted to the county within an hour of creating the deal on Empora. Smart automation allows for a smoother process that doesn’t rely on a human to manually enter information – or notice an email they received at 9pm. Automating redundant data input saves time and reduces clerical errors that can happen when information isn’t accurately duplicated or when something needs to be changed. An intelligently-designed digital platform significantly reduces the amount of time each step takes, and smart triggers keep the ball rolling, and saving real estate investors hours of management on every deal.
Where it used to take multiple phone calls or emails to get an update on the status of a deal, Empora’s digital platform enables a real-time view into the deal status. Anytime. Anywhere. This also unlocks greater transparency and empowers client success managers to provide a higher level of support throughout the transaction.
Helping real estate investors do more with less
Making the most of time, effort, and money is key to being an investor. By digitizing and automating many aspects of a traditionally manual process, Empora’s platform typically saves investors over $500 per deal in fees and countless hours. The time and money savings compound, creating even more value for serious investors who are doing multiple deals at once. Empora’s automation allows investors to:
- Increase productivity
- Grow your bottom line
- Reduce administrative costs
Our entire business was born out of the desire to ease pain points from an inefficient, archaic title and closing system. More advances are coming as we continue to build the premier title solution for real estate investors.
Why work with Empora?
If you’re new to Empora, check out our product page for a deeper dive into how we’re doing title and closing differently. We’re here to help you build your business by streamlining the title and closing process.
Long gone are the drawn-out meetings and mountains of paperwork. Our platform cuts frivolous fees, saving our clients up to 30% in closing costs and allows investors to scale quicker by removing unnecessary fees from the process
The future is here, and Empora is leading the way!
For more information on what we can do for you and your business, request a demo and find out why real estate investors trust Empora with their title and closing needs.