October Research, LLC’s complimentary webinar, “Evolving Realtor Relationships,” included two industry experts who discussed how the real estate transaction is changing, their expectations for the future and what they will need from their title partners.
Drew Coleman, team lead of The Drew Coleman Team/The Hasson Co. Realtors in Oregon, and Realtor Cor Donovan of Corbett Donovan PLLC in Florida – detailed when – and when not to - use technology and how to best manage platforms. The webinar was moderated by Jamie Kump, Qualia’s director of high growth accounts.
The panelists said one challenge from a title standpoint is trying to design relevant online systems that typically cater to Realtors and lenders.
“I really feel the title company platforms should be sure to be inclusive of the connection with the Realtors,” Donovan said. “We did have a problem last year where some of the title companies and attorneys who do closings here would schedule the closing direct with the buyer without having the Realtor involved in that conversation for scheduling. That’s problematic when you’re trying to deal with final walk-throughs and utilities and everything else.
“So, I made it clear to the title companies and attorneys we use that we need to be involved in that conversation and assist with the scheduling. That keeps the human touch involved. Because as we all know, after the transaction is done, if the customer needs help with anything real-estate related, they’re going to be talking to us Realtors. They’re not going to call their title company and say, `I don’t have a copy of my closing statement or my deed.’ That’s why it’s important to keep the Realtors super connected to these platforms.”
Coleman predicted those on the title side will be taking a page from Realtors by doing more video communication with consumers.
The duo also discussed how remote online notarization (RON), remote ink-signed notarization (RIN) and digital notaries help the transaction, whether homebuyers and sellers are asking for such services and if they will remain after the pandemic.
“We do walk the halls of Congress and we’ve lobbied for more ability for remote online notarization – especially during the pandemic,” Coleman said. “We had a client who had to have notarized documents and was actually in the ICU ward fighting coronavirus. The fact that they had to have someone in person seemed a little counter-intuitive in today’s day and age.”
Visit RESPA News to view “Evolving Realtor Relationships.”