Gone are the days of card stock airline tickets, unpredictable taxi fares, and paper catalogs with two-week “rush” deliveries. Forward-thinking entrepreneurs in the airline, transportation, and retail industries have changed the way we fly, ride and buy with digital technology. Real estate has evolved as well – with sites like Zillow and Realtor.com changing the way consumers sell, buy and search for homes.
However, once a contract is signed, most realtors and homebuyers enter a decades old time warp to the slow, complicated and costly real estate closing process that involves banks, mortgage lenders and title companies. Fast-forward to JetClosing.
A ‘clean slate’ and technology make the closing process easier – at a lower cost
After experiencing this ‘time warp’ first hand, JetClosing co-founder and CEO Daniel Greenshields, along with Seattle-based start-up studio, Pioneer Square Labs, decided the time for a 21st Century transformation had come for the title and escrow process.
Greenshields, who spent 18 years digitizing consumer financial services at ShareBuilder Securities and Capital One, teamed with real estate veteran Eric Bloomquist, technology leader David Wolf, and longtime title and escrow executive Shawna Hernandez. These industry insiders and outsiders drew on their experience from Intel, Amazon, NexTitle, ING, GE Capital, and Pioneer Square Labs. Together they launched JetClosing in Washington and Arizona. The company has proven to be a game changer for the title and escrow process with significant benefits to real estate agents and more importantly, the customers they serve.
“We asked real estate pros what they needed, and built our cloud-based platform to their wish list,” said COO Eric Bloomquist. “The complex, mysterious, paper-centric, process is now an open kitchen and that transparency is good for everyone. Our mission is to make closing on life’s biggest transactions an easy, fast, friendly, and transparent digital experience for everyone, every time.”
Predictable, flat escrow fees, automated updates and responsive local support
The secure, mobile-friendly app and website offers transparency, real time updates and a closing timeline available to all parties. Other advantages are fixed, flat escrow fees ($1,000 for every transaction regardless of sale price) and direct electronic payment to realtors within 60 minutes of closing.
JetClosing initially launched in Washington in 2016 and expanded to Arizona with a soft launch in March 2017. Since that time, the company has received $2 million in additional funding and expanded to the metro Denver market October 1.
“Most title companies are good, but this is better,” said Phoenix realtor John Cunningham who has used JetClosing since the company launched in the market. “As a ‘non-millennial’ and a ‘pick-up-the phone guy’, new technology can be a hassle. But, after my first closing, I realized what a truly cool asset this is for agents and brokers.”
“I have never seen anything like it,” said Phoenix realtor Rebecca Medrando. “The app is easy to navigate and shows a timeline, status and contact list for every property transaction. Just like UBER, I know what to expect, when to expect things, and who I’m working with – and it’s always at my fingertips.”
To learn more about JetClosing, go to www.JetClosing.com, or download the app on Google Play or ITunes.