Realtors® Want to Shop for Real Estate Closing Services Online
San Diego (PRWEB) May 6, 2009 -- Seventy percent of Realtors® are interested in using a one-stop online shopping source for real estate closing services. And 71 percent said they would be likely to refer clients to a neutral site unaffiliated with their agency, to find and compare real estate closing costs (http://www.closing.com/), according to a survey of nearly 2,000 Realtors conducted recently by the National Association of Realtors* for ClosingCorp.
The survey found that Realtors under forty years of age are significantly more interested in using interactive features to help their clients shop for closing services. These include the ability to send a list of preferred service providers to clients, having a site integrated with their multiple listing service so they can estimate closing costs for any listing, using discount coupons and e-commerce rates and providing a free online closing cost calculator.
Nearly all Realtors in the survey (97 percent) said that saving their clients' money without sacrificing quality or reliability is important. Most also said that value and local reputation were the top factors they consider when selecting title insurance (http://www.closing.com/) companies for their clients. Value, reputation and personal relationships were the top three factors when choosing an escrow or settlement service.
"A comprehensive site like Closing.com, which will provide a choice of more than 150,000 providers and information about cost and quality, will fill the needs of agents and brokers who care about saving money on closing costs for their clients without compromising service. We're excited about the enthusiasm Closing.com (www.Closing.com) is generating among consumers and with real estate professionals, many of whom offer exclusive savings," said ClosingCorp CEO, Tony Farwell.
The survey, which underscored the influential role that Realtors play in the selection of real estate closing (http://www.closing.com/) providers, found that Realtors recommend a limited number of settlement service providers to their clients. Fifty-nine percent refer only one or two escrow services to clients, and 58 percent refer one or two title insurance companies.
Younger Realtors under 40 were more excited about potential features that would enhance their ability to help clients shop for services online, a majority of all age groups said they felt the following features were important:
- An online service like Closing.com has the potential to generate estimated closing costs specific to listings when it is integrated with an MLS. Three out of four Realtors would be interested in such a service.
- Seventy-seven percent were interested in discount coupons and special e-commerce rates offered by service providers that would be available on a site like Closing.com.
- Seventy-eight percent were interested in offering their clients a free online closing cost calculator with their brand.
"Closing.com, with its one-stop access to real estate closing services, will give Realtors a powerful competitive advantage by augmenting their value to clients," said Farwell.
The online survey of 1,929 Realtors was conducted earlier this year. At a 95 percent level of confidence, the confidence interval for results overall was +/-2.2 percent. The sample size is large enough that the overall results can be considered reflective of the total population of Realtors.
Closing.com is currently in beta release and is scheduled for general release this summer. It is the largest source for real estate closing services on the Web with more than 150,000 vendors offering services in 11 categories, including title insurance, escrow/settlement services, closing attorneys, home warranty services, appraisers, home and pest inspectors, notary services and more. The site helps consumers and real estate professionals find and compare real estate closing services and rates in their geographic area and calculate closing costs. Real estate service businesses can list and manage their company information and offer exclusive savings to Closing.com users. Visitors can learn more about a real estate service provider's products and services, and make inquiries online from one, easy-to-use Web site.
*Closing.com is neither affiliated with nor endorsed by the National Association of REALTORS®
About Closing.com
Closing.com is the most comprehensive source for real estate closing services on the Web. The site empowers consumers and real estate professionals to shop, compare and evaluate real estate closing service providers in their geographic area and save money on closing costs (http://www.closing.com/community/learning-zone/article/what-are-closing-costs). Visitors to the site can estimate their closing costs, learn more about a real estate provider's products, services and rates, and make inquiries to providers directly online. Closing.com is owned and operated by ClosingCorp (http://www.closingcorp.com/), an independent real estate information services provider in La Jolla, CA.
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This press release has been reprinted from PRWEB per the terms and conditions of the copyright notice.
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