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What Makes a Good Escrow Agent?

By
Real Estate Broker/Owner with eXp Realty BR562939000

A good escrow agent is one of the keys to a smooth real estate transaction.  As a real estate agent, I have had good and bad experiences and have come to discover there are some key elements I look for in choosing a good escrow officer. 

Dependability - There's nothing worse than something not being done on time and throwing off the entire transaction.  I know that sometimes things do get delayed, but I appreciate receiving a phone call or email letting me know the delay and the new estimated time of completion.  This helps me manage my clients' expectations and sets the stage for an uneventful closing.

Knowledge - I depend on my escrow agent's knowledge and I expect that the answers I get from him/her will be reliable.  I have actually had a transaction where the agent I was working for knew nothing about the land deal and was trying to make my clients jump through unnecessary hoops.  In addition, in order to get the information we needed, I was forced to call their main office and still didn't receive a straight answer.  We changed escrow agents and closed quickly.  I know that nobody can know everything, but I expect that my escrow officer will do the research to get the right answers instead of making me do their job.

Flexibility - This is a big one.  I LOVE recommending an escrow officer to my clients that I know will work around their schedule and make the hectic time of closing much more peaceful.  In fact, I recently used an escrow officer, Michele O'Connor, who travels to my clients for the signing.  Guess what this means?  No longer do I need to escrow near where my clients live, work, or are buying because Michele is "everywhere"!!  She has all the other attributes I look for in an escrow officer, so you can bet I will use her again and again!

Communication - I hate being surprised at the close of escrow by finding out that more documentation is needed from me or my client in order to close.  I appreciate being notified ahead of time of documents needed so that my clients are assured that once they get to closing, they're done.

An escrow agent is vital and the best way to get continued business is by being FANTASTIC at what you do.  Hey, we real estate agents are under the same pressure.  If we can do it, so can you!

Tucson Expert Agent - Tucson, AZ Real Estate

Posted by

Robin Siddle

www.TucsonExpertAgents.com

Paula Henry
Home to Indy Team @ HomeSmart Realty Group - Avon, IN
Realtor - Indianapolis Real Estate - 317-605-4174
Robin - These are excellent points!Just as our client depends on us for answers and communication, we also depend on these same traits from others involved in the transaction process. When we all work together, we produce a seamless transaction experience for our clients. Best!
May 11, 2007 01:25 PM
Luisa , Orellana
Greater LA Escrow - Los Angeles, CA
Greater LA Escrow

Glad I have all these qualities. That makes me a FANTASTIC escrow officer! and I am glad to know you found a fellow AR member to process all your escrow needs with the standards all deserve. I completely agree with this post, and with Paul's comment. It is essential for all to Communicate in all levels to produce a smooth closing. Great post! ;)

May 22, 2007 08:11 AM