Escrow process alternative to email

2 Replies

Hi guys, we close several deals a week at our office.  The vast majority of escrow/title companies still use email to send/request documents e.g. disclosures, wire instructions, etc.   It can get a little confusing when we have escrow, our company, title, the listing agent, lender, etc going back and forth on multiple subjects centered on one property; all over emails.  Why are they still using email? What's the best solution out there for managing document exchange?  

There is no secure, streamlined way to communicate with all parties. Email is the easiest way to do it and it is overwhelming sometimes but it is the best option, no other alternatives. Keyword being SECURE and ALL can get a lender on their portal and a title company on theirs, but there is no one place that everyone accepts as a "hub" to communicate that is not specific to a company.

You need to get everyone using the same tool. That is why email is the standard.

If you can get a firm to switch to something specific for your deals, cool. Slack can be a great solution. A fresh channel for each property. All the documents and communications in the specific channel. You can remove access or add access per channel.

Will the other companies be prepared to use it with your deals? Very hard to say without asking. I suspect that none will think you are important enough to switch. They have lots of customers and would find it confusing to remember which tool for each customer unless the customer was really important.