It’s tough to be a homebuyer right now.
The national median home price has broken $400,000. Mortgage rates are stubbornly high. Inventory is at historic lows.
For homebuyers in this market, every dollar counts. And, for agents, every opportunity to help clients save money is an opportunity to gain their trust and appreciation—two ingredients for creating lifelong clients who will be a source of referral business for years to come.
While most buyers are focused on negotiating the sale price or getting seller concessions, few are aware of another area they can save money: title and settlement costs.
Homebuyers can typically expect to pay about 3% – 6% of the purchase price in closing costs, which may include title insurance, closing fees, loan origination fees, and other charges. It can be a significant expense, especially in higher priced markets. Unfortunately, many consumers have only a vague notion of what title insurance and settlement services are, and even fewer are aware that they have the option to shop for these services.
On top of that, there has always been an air of mystique around title insurance pricing. While some title costs are mandated by the state, there are often other fees included which can catch consumers by surprise. These can include fees for wire transfers, document retention, and other ancillary services. Not only does this leave buyers feeling like they are being nickel-and-dimed ad nauseam, but it can also add up to a seriously large chunk of change.
That’s why Radian Settlement Services created titlegenius by Radian™, an innovative digital platform using blockchain technology that streamlines the title process to help create cost savings. We have achieved efficiencies through scale, technology, and elimination of junk fees to save buyers up to 20%* on closing costs in some markets. Because we know right now, every dollar paid at the closing table makes a difference.
As the agent, you can empower clients to evaluate their options and search for savings. Better yet, you can point them here, where your buyer can get a title quote and see an instant breakdown of estimated title insurance and closing costs. Agents who introduce titlegenius to their clients are making it possible for them to save money in a transaction where opportunities to save are currently few and far between.
Of course, it’s not only about the cost savings—with titlegenius technology, you can offer a seamless, first-rate experience to clients every time. When a client has a great closing experience, they’ll always remember how you made their entire real estate experience better, gaining their trust and appreciation.
See more reasons to recommend titlegenius by Radian and become clients’ go-to professional for life.