Study: Consumers Still Prefer to Close In Person
October 29, 2019
Consumers like the modern conveniences that digital paperwork and signings bring within a real estate transaction, but they still prefer to be face-to-face at the settlement table. Eighty-one percent of 1,000 consumers surveyed say they prefer to close a loan in person. That said, 70% still say they would like a more digital process at the closing table, according to the new survey from Solidifi, a network management services provider for the residential lending industry.
The survey reinforces that consumers still value having a professional and qualified closing agent beside them at the table as they proceed through the closing process on a home purchase or refinance, Solidifi notes in the survey. Consumers cited the two most important attributes for a closing agent are “knowledgeable” and” efficient.”
“Service Level Agreement (SLA) 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,” says Loren Cooke, Solidifi president. “As our survey revealed, a truly extraordinary consumer experience goes beyond digital. 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.”
Updated: May 29, 2020