The Mandrien Blog

The Top Five Technologies Your Title Company Won't Survive Without

              

               When it comes to refinancing, gone are the days of small mom-and-pop title shops. Many law firms doing title work on the side have stopped, and even some full-time title firms have gone out of business. Why? Because high-tech processing software platforms have become necessary, and many companies don’t have the resources or willingness to convert. These programs are revolutionizing the industry, and without one, you will be left in the dust. 

               Many industries have been using technology effectively for decades now. Why, you might ask, is technology only now becoming so important to the real estate services industry? The answer is fairly simple. The recent economic troubles have led to a boom in new regulation as well as a fresh crop of increasingly money-conscious consumers. You can no longer be a local or even regional company, charge $2000 per closing and go home happy.

               The combination of increased information access via the web and a general tightening of household budgets means consumers are getting shrewder. They simply aren’t willing to pay a premium for services whose value is often unclear to them. Moreover, they can shop around. They can look at ten lenders and ten title companies in an afternoon and come to an informed decision based on pricing and other customers’ reviews. Title fees have thus been driven down to the point where many companies are unsure how to remain profitable. 

               This is exactly why software companies have recently stepped in and revolutionized the way the entire industry does business. Those who haven’t embraced the new technology are struggling, if they are still around at all. Here is a run-down of the most important tech tools a title company can use to remain profitable and competitive. Read on!

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