Title Closer: Job Duties, Employment Outlook, and Training Requirements
Explore the career requirements to become a title closer. Get the facts about education and training, job growth, and wages to find out if this is the right career for you. Schools offering Risk Management degrees can also be found in these popular choices.
Career Information At a Glance
Title closers coordinate all closing actions in real estate companies by reviewing contracts, examining the completeness of real estate accounts and explaining costs of loans to buyers. The following chart provides an overview about this field.
|Degree Required||None required; Associate's degree and certification programs available|
|Training Required||On-the-job training|
|Key Responsibilities||Review contracts, educate buyers, collect and deposit payments; attention to detail is important|
|Job Growth (2012-2022)||9% for all title examiners, abstractors and searchers*|
|Median Annual Wage (2014)||$39,318 for title closing agents**|
Source: *U.S. Bureau of Labor Statistics **PayScale.com.
What Are the Job Duties of Title Closers?
According to the Occupational Information Network, title closers receive payments, make account deposits, review all documents before finalizing a real estate account and confer with legal representatives regarding closing transactions (www.onetcenter.org). Title closers also review contracts, explain the closing costs of loans, titles and appraisals and clarify fees added to property sales. In this role, you must be able keep and maintain detailed notes on all actions in case of possible audit.
What Is the Employment Outlook and Salary?
Employment of all title examiners, abstractors and searchers was projected to increase by 9% between 2012-2022, according to the U.S. Bureau of Labor Statistics (www.bls.gov). Title closing agents earned a median annual salary of $39,318, reported PayScale.com in December 2014.
What Are the Training Requirements?
Although title closers' responsibilities would suggest intensive education and training requirements, few formal academic programs are available. Most title closers receive on-the-job training while working in another real estate position. These other real estate positions also play important roles in the title closing process.
Some community colleges, vocational schools and universities offer associate degrees and certification programs. Many people who pursue positions as title closers choose to acquire certification through formalized programs in order to increase their chances of employment. An example course can contain topics in documents, procedures, fees, mortgages and other taxes.
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