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All Forum Posts by: N/A N/A

N/A N/A has started 1 posts and replied 2 times.

Post: S. Calif Escrow Officer

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  • Posts 2
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I work in Santa Monica, Ca. but handle escrow transactions all over. I have been an escrow officer fr 25 years. One thing I have learned is that a happy customer at the close means a good referral source for myself and the realtors involved. I have been in coaching for a little over one year as my realtor friends have taught me that I must ask for the business.
Good luck to all in 2008. This market can be full of opportunites, we just all need to work differently and build relationships so we can all help each other. A prosperous 2008 to ALL!

Post: Title Fee's getting the best deal.

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Hello realtors!
I am an escrow officer in Southern California- for an independent escrow company (there are 3 types- independents, title co. escrows and broker owned) Not all states are escrow states and in Sothern Calif. , title and escrow are very separate functions. The title industry in Ca. must post their fees with The Insurance Commissioner. If they discount those fees from the posted schedule, they can face heacy penalties. Although many have done it in the past, I know they are facing a big "crackdown" right now.
Escrow fees are not regulated and basically it is determined by what is usual and customary in the area (for instance Los Angeles county and Orange county could be quite different) - it is a good idea to call around. But remember, you really do get what you pay for- and just like you showing a property that promises 1.5% commission to selling agent vs. 3% commission- it can make a difference. Many if not most escrow officers are commissioned.
I work off referrals and I must also "ask for the business", I am in coaching, and I do everything I can to grow my business. So when I handle your transaction, I am working to assure you end up with a very happy cleint and therefore a strong referral source for you!!