Buyers, sellers, lenders, realtors are all familiar, but what are settlement agents and what do they do? The settlement agent's role is to carry out the transaction between the buyer and the seller, and the borrower and the lender, as everyone intended.
As a settlement agent we see that the seller is paid for the property they are selling, the buyer receives title to the property, and that the lender receives security for the money it lent to the borrower to purchase or refinance the property. In doing this, we don't represent the buyer, seller or lender, but we do owe a duty to all so that they receive what they are due in the transaction.
Real estate settlement companies work with the lenders and real estate agents of both the buyer and seller in order to facilitate the terms of a real estate contract. A customer would contact a bank (lender) for a mortgage and then work with their Realtor® to find a settlement company to handle the closing of the transaction.
Offer to Closing
Today’s internet-savvy clients understand their options and expect their Realtor® to provide access to the best resources – not just marketing their home and closing their transaction, but also helping them get settled in their new surroundings. Realtors® who earn referrals and repeat business will be there every step of the way.
More than simply access to standard forms, association benefits help to streamline transactions, simplify the process and extend the client relationships using digital, legal and partner support. Legal, appraisal, inspection, home warranty, title, settlement, moving and storage professionals – these are just a few examples of the partners and affiliated service providers who ensure that Realtors® are the valued source of information clients can depend on.