One of the things that title companies do is make sure your real estate documents get properly recorded at the county. Here’s a discussion of how it’s done today, which is a big change!
Jim Klinge
Klinge Realty Group
Broker-Associate, Compass
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Encinitas, CA 92024 - (858) 997-3801 call or text
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CA DRE #01527365, CA DRE #00873197
This industry still looks ripe for disruption…lots of inefficiencies here.
Interesting. Also, Kathleen looks like she’s a distance runner.
90% of the business is done by 10% of the agents.
If we could just get rid of the 90% of the licensees that are disguised as agents, the remaining 10% could absorb the additional business.
When/if Google or Zillow makes a deal with the 10% to take over the real estate world, then we’ll be talking about more than disruption. It will be a whole new cookie!
I think disruption is much harder on the selling side, human beings buy homes and sometimes investments on emotions. Thus, the hand holding process Agents serve is critical, hence Zillow subdued effect on the status quo.
Escrow/title seem slightly easier to disrupt. The folks in the video are still pushing paper, just in a different form.
Agreed – with the majority of sellers being long-time owners, the emotional support is helpful. It’s why Google and Zillow needs to team up with the Top 10%.
Title insurance does have job security though – the lenders insist upon it. Everybody wants a clean title.
No doubt, title insurance key to risk management. Just the mechanics of it all seem inefficient and archaic.
This will be replaced by an API and a marketplace.
Is it possible in CA to “upload” your car title thru a computer rather than a face-to-face visit to the CA DMV? If not, why is that? Is anyone concerned about fraud/hacking with land records?
If a visit to the CA DMV is necessary to minimize fraud on a $500 clunker title transfer or lien placement, why is “uploading docs” sufficient for a real estate title transfer or refi transactions oftentimes in the millions?