Mortgage

In a digital era, more consumers prefer speaking to a real person about mortgage closings

Would you prefer talking to a real person, or closing through your phone?

In a time where nearly everything can be done with a tap on your phone or a click of a mouse, more consumers still say they would still prefer their real estate closings to be done in person.

In fact, 81% of consumers say they would still do a mortgage closing in-person versus digitally, a new survey from Solidifi said.

However, the study also showed that 70% of consumers would like a more digital process when closing.

“Service level agreement performance with a lender is table stakes today, but the consumer experience via a professional closing agent trumps all other factors at the end of the day,” Solidifi President Loren Cooke said.

Even though this survey proves more people prefer one-on-one time when it comes to making a closing, there are still plenty of companies launching or have launched fully digital closings.

Earlier this month, Guaranteed Rate and Notarize partnered, allowing borrowers to make a closing from their own cell phones.

DocuSign began to pave the way for its digital process last October, when it launched its digital solution, Rooms for Mortgage.

Earlier this year, Fidelity National Financial launched its digital closing capabilities nationwide.

And the list is ever-growing.

“As our survey revealed, a truly extraordinary consumer experience goes beyond digital,” Cooke said. “In a market where consumers expect an omnichannel banking experience, it’s the human touch points that can really make a difference and lead to repeat business and loyal customers.”

Consumers say they value working with an agent who is knowledgeable on the topic. There were two attributes that stuck out to the consumer, with 49.3% of respondents saying they value someone who is knowledgeable and 40.1% saying they want to work with someone efficient.

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