A high school diploma and training courses in real estate title research, escrow, and sales closings are required to work as a closing agent. You can also get certified as a paralegal with a specialization in real estate transactions. In some cases, having a title agent license is also beneficial. Because the position requires specific knowledge of the closing process as well as hands-on experience, any activity that teaches you the ins and outs of real estate closings in a variety of situations while also providing hands-on experience will help you start a career in this field.
A closing agent assists an escrow company in completing real estate transactions performing administrative tasks. An escrow company is a neutral third party that coordinates the exchange of the property’s title for the agreed-upon sales price, ensuring that each party receives the benefit of the transaction at the same time. Typing commitments, handling offers and payoffs, dealing with insurance and property surveys, and ensuring that title research and exchange are completed correctly are all part of the agent’s responsibilities.
A high school diploma is the minimum educational requirement for becoming a closing agent. Employers frequently seek experience in a variety of aspects of real estate closing. Many employers will accept experience in lieu of specific training. Closing agents can take a variety of training courses, and the most convenient way to get started is to look at the course offerings at local community colleges.
Many community colleges offer comprehensive real estate sales courses as well as specialization courses in specific aspects of the sales process. After completing a number of classes, you will receive certification and be eligible to take licensing exams. In most cases, a community college will also offer a paralegal program with a focus on real estate transactions. Adding any of these resources to your resume will assist you in becoming a closing agent.
Real estate trade associations also provide licensing and training. Employers look for experience with pre-closing and closing tasks, as well as knowledge of real estate title searches and insurance, as well as proficiency with various types of closing software. A title agent license will also enable you to work as a closing agent. Because escrow companies deal with distressed properties, any training or experience with foreclosures, bank-owned properties, and both public and private housing and mortgage organizations and practices is beneficial.
You’ll also need to show that you have certain soft skills in order to work as a closing agent. To coordinate and facilitate the sale, agents work closely with both buyers and sellers. Employers are looking for agents with a strong customer service ethic and strong organizational skills. Ensure that you participate in enrichment activities that demonstrate your proficiency in these areas while obtaining the necessary education and training for the position.