Report Finds Title Agents Struggled With Unexpected Closing Delays, Hiring in 2021

Nearly 60% of closers say unexpected delays were their top challenge in 2021

PropLogix has released its fourth annual report on the State of the Title Industry after surveying more than 400 title and settlement professionals performing closings in all 50 states. This year's report highlights the stress agents are feeling around balancing a bigger workload, hiring and training, and facing unexpected closing delays.

In 2020's survey, the largest group of respondents (21%) said they were handling between one and five closings a month. This year, just 8.5% of respondents reported handling that many closings. The largest percentage of respondents (18%) in this year's survey reported handing between 21 and 30 closings each month.

Thanks to a busy year bolstered by a hot housing market, the top challenge for 49% of title company leaders faced is hiring and training new employees. The report also shows what pieces of title production respondents do in-house vs. outsource. 

"Each year we do this survey, we learn a little more about how economic and real estate market shifts are impacting title agents and how they're adapting to these challenges. Our goal in conducting this survey and sharing this report is to help title professionals plan for the year ahead," said PropLogix Chief Marketing Officer, Becky Tassell.

The full report can be downloaded at StateofTitle.com 

About PropLogix

PropLogix services help title professionals with various parts of title production. Starting as just a Municipal Lien Search service provider in 2010, PropLogix now provides HOA certificates, title searches, title curative, survey coordination, and release tracking. The company has been named four times to the Inc. 5000 fastest-growing private companies list in as many years.

Contact:
Lindsey Gordon
PropLogix, Communications Director
lindsey.gordon@proplogix.com

Source: PropLogix

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Categories: Real Estate

Tags: real estate transactions, remote online notarization, title insurance


About PropLogix

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PropLogix helps title agents protect buyers by uncovering hidden property issues.

Lindsey Gordon
Content and Communications Strategist, PropLogix
PropLogix
1991 Main Street (Suite 147)
Sarasota, FL 34236
United States