Cutting Operation Costs That Can Affect Real Estate Transactions
As anyone involved in the real estate industry knows, operation costs can easily get out of control, thanks to inefficiency and dealing with disparate, sometimes redundant, systems that are often based on fallible manual document preparation and poor communication. A recent study by Accenture found that the title production process alone involves an average of 8.5 hand-offs for a purchase or re-finance transaction; 80 to 90 percent of the steps in the title search process are still conducted manually, or require delay-causing manual intervention; and that re-working errors in those manual steps contributes significantly to a higher cost per transaction…and that’s just from the title production process!
End to end, there are a huge number of inefficiencies in a real estate transaction that are avoidable and, when brought into line, will slash the cost of closing a transaction. Automating the process as much as possible with a comprehensive real estate closing suite like EasySoft creates a simple and expedient way to ensure that every transaction is handled correctly and quickly.
1. Lower Administrative Cost
Because the data for each transaction is only input once, then shared across the required forms automatically, your administrative team will spend less time setting up documents. Cutting down the number of human entries into the system also reduces the opportunities for errors that can cause delays, re-work, and penalties.
2. Secured Communications
Using the BeesPath Closing Bridge platform, all interested parties in every transaction are able to maintain fully secured, real-time communication, including secure, dedicated email and chat. This means that not only does everyone who needs to be informed has all of the information instantly, but also that hackers and phishing scammers are out of luck; they won’t be able to disrupt your transactions when they’re locked away in a private vault.
3. Assured Compliance
Keeping track of all the forms and deadlines required to maintain compliance with TRID, MISMO, GSE’s mandatory closing reporting, HUD forms, and everything else can suck up a lot of administrative time, and mistakes can lead to delays or fines. Automated closing software keeps track of everything your transactions require and automatically generates completed forms to keep you on track.
4. Faster Closing
When your transactions close faster, you get paid sooner. Cut your documentation time, re-work time, and delays in communication, and you’re on track to seeing faster payment for your work.
EasySoft Automation For Streamlined Real Estate Closing
The EasySoft suite keeps you on top of today’s regulatory requirements, and updates as those regulations change, so you’re never stuck with delays or penalties that result from being a step behind. Keep your real estate closings and cash flow running smoothly and expediently by automating the workflow, and ensuring secure, instant communications at every phase. Try Easysoft risk-free, and evaluate the savings for yourself.