Title Closer: Job Duties, Employment Outlook, and Training Requirements
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. Title closers typically receive on-the-job training while working in other real estate positions, but an associate's degree or certification is required by some employers. Keep reading for more information about duties, career outlook and training requirements in this field. Schools offering Risk Management degrees can also be found in these popular choices.
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 for positions in real estate were projected to increase by 14% between 2008-2018, according to the U.S. Bureau of Labor Statistics (www.bls.gov). The major driving factors behind this growth are a growing young property-owning populace and the ideals behind owing a house. As agents gain experience and advanced skills in closing deals, they'll be more desirable to larger firms for employment purposes.
National average salaries for the middle 80% of title closer agents with 1-4 years of experience fell in the range of $21,106-$49,226, reported Payscale.com in June 2011. Salary does have the potential to increase steadily, as Payscale.com reported a middle 80% salary range of $30,231-$58,723 for those with 10-19 years of experience.
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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