Title closers perform research about property ownership and gather needed documents pertaining to the sale of the property. They also allocate the monies associated with the transaction. A college degree is not required for this profession, but real estate training and a notary license may make a candidate more attractive to employers.
Title closers play an integral part in real estate transactions. Individuals who have a knack for details and an interest in real estate and related areas might find that the occupation of title closer could be a good professional fit. This occupation requires a high school diploma, although aspiring title closers may find relevant postsecondary classes and certificate programs, too. Those with formal training in real estate and a notary license may have better employment prospects.
|Required Education||High school diploma or GED|
|Other Requirements||Training, notary license|
|Projected Job Growth (2018-2028)*||0% for title examiners, abstractors and searchers|
|Median Annual Salary (2019)**||$45,048 for closing agents|
Source: *U.S. Bureau of Labor Statistics; **PayScale.com
Title Closer Career Profile
Title closers, who may also be called escrow closers, are facilitators in the real estate sales process. They gather and research all relevant papers, figures and documents, and ensure that contracts conform to certain standards. Title closers check for any objections or encumbrances on the title and order the proper documentation ahead of the closing. Documents handled by title closers include the contracts, settlement statements, mortgages, deeds, and policies of title insurance.
Title closers ensure that the monetary amounts are correct to satisfy mortgages, taxes and judgments, and may oversee the collection of all the fees and charges that were agreed to for the sale. In addition, title closers make sure all legal documents involved in the transaction are properly recorded, notarized, accurate, and prepared in proper form.
A title closer may learn the business on the job and start his or her career with a high school degree. Nevertheless, formal training to gain familiarity with the real estate field and the legal documentation associated with it increases the odds of being hired in this competitive industry. Some employers require a notary license to be a title closer. Technical and vocational schools and junior/community colleges can be a source for individual classes and certificates or for associate degrees in real estate. Colleges and universities across the nation also offer bachelor's degrees in real estate.
In addition to knowledge of real estate and legal documents, other requirements to be a title closer include logic, good written and verbal communication skills and the ability to pay very close attention to detail. According to O*Net Online, a title closer must also comply with ethical business standards (www.onetonline.org).
According to PayScale.com's figures in August 2019, most closing agents - or title closers - earned between $31,000 and $66,000 annually. Commissions and bonuses may be factored into a title closer's total earnings. PayScale.com lists loan closer and office manager jobs as possible positions for individuals who are looking to advance after gaining title closing experience.
A title closer usually requires only a high school diploma or the equivalent, but knowledge of real estate and legal documents may also be necessary, and some employers also require a notary license. Classes and programs are available for this profession from vocational schools or community colleges. The median salary was around $45,048 for title closers as of 2019.