The success of InspectHOA customers

The Challenge

When the Title industry talks about HOAs, we usually hear about the tedious manual processes, lots of back-and-forth communications with all parties, and wasted time.

Being on tight deadlines doesn’t help when you need to rely on someone else. TransCounty took a leap of faith and trusted InspectHOA’s automated process, and here is what came out of this.

The HOA piece was always a problem for TransCounty Title. They would go through a tedious manual process with multiple follow-ups with the seller to obtain all required documents.

“HOAs are the single most dreaded thing about a closing. When you find out the customer has an HOA, you dread the file because of the hassle that you have to work with the seller on.”

Before partnering with InspectHOA, TransCounty would call or email each customer to gather the HOA contact information. Once they had that, they would contact the HOA on their own to order the documents.

Then they had to reach back out to the client to inform them that they would receive an email with a request to make a payment to the HOA. All these steps were necessary for the HOA to send TransCounty the information.

As expected, this convoluted process presented multiple obstacles. Some clients wouldn’t receive the payment link or the email altogether, and others would be upset that they have to pay for the documents upfront. TransCounty would then have multiple follow-ups to ensure the document fees are paid.

The entire process translated into 3-4 calls to the customers, which created friction in the process and a bitter client experience. In addition, since the team was bogged down having to do so many things on their own, they couldn’t easily
scale their operation.

Nowadays, consumers are used to instantaneous gratification, and they are looking for faster and smoother closings with as little involvement on their part as possible. Many first-time home buyers select their real estate and title companies based on recommendations from people they know.

To get these recommendations, increase their NPS, and grow their business, title companies are looking for ways to provide a better customer experience and faster closings.

The challenge

Endpoint’s mission is to make the real estate closing experience as seamless as possible. Closings are very complex and each one is unique, requiring professional expertise from closing specialists, yet there are opportunities to automate processes to enhance the experience.

Collecting HOA documents and data is one area where automation can improve and accelerate closings. The task of collecting HOA documents and data can be labor-intensive and may take days, depending on the depth of information provided by the seller and the responsiveness of the HOA.

The document and data collection is transaction-specific, which does not align with Endpoint’s goal of standardizing closings and decreasing clear-to-close timelines.

Shawna Hernandez

SVP of Operations, Endpoint

We do believe that closing requires professional expertise, but there are opportunities to use technology and automation to enhance the experience.