SAN FRANCISCO, Calif. -- March 3, 2022 - Qualia, the leading digital real estate closing platform, today announced the release of Automatic Ordering into its Marketplace product. The new Marketplace features enable title and escrow companies to automatically order closing services from participating vendors in order to eliminate hours off of their workload and materially reduce the time it takes to complete closings.
Marketplace is Qualia’s vendor management technology that title and escrow companies can use to find, order, and manage the closing services they need from vendors across the country all in one place. With Automatic Ordering, title & escrow agents are now able to set up rule-based automations to place closing orders, such as tax search, title search, HOA documents, and more, and assign specific vendors of their choosing.
“For title and escrow operations, centralized and automated ordering is a must-have,” said Brian Thome, Qualia's vice president of customer success. “In many cases, teams are ordering the same product for the same types of transactions from the same vendors over and over again. This update to Marketplace removes the manual repetition for those users.”
Automatic Ordering adds flexibility for agents to assign their vendor orders in any number of ways. This includes assigning a specific vendor to orders in a particular state, splitting set percentages of orders between vendors, or using a round-robin system so each new Marketplace order is assigned to a different vendor until each one has been assigned the same amount. For example, Marketplace users can add a rule to their own workflow to order a product such as a ‘Current-Owner Search Plus’ from a specific vendor for all refinance orders in a particular state. If they put that rule in place, the products will be ordered automatically when that agent opens a new file that meets those conditions.
“Anything we can do to trigger things automatically, particularly during the order opening process, to make our team more efficient, is worth setting up," said Jason McCord, IT Director at Legacy Settlement Services. "Manually entering our orders can take five minutes or so per file, so for the hundreds of orders we're placing each month, this new functionality in Marketplace is going to save us hundreds of hours."
Today’s release comes on the heels of the release of Vendor Performance Reports, which help Marketplace users analyze their operations and identify their top performing vendors. A recent Qualia user survey showed that title and escrow agents were already able to process orders up to 5 times faster with Marketplace, and turn times per closing were reduced by an average of 4 days. The addition of automatic ordering and enterprise-grade reporting features in Marketplace stand to only increase their ability to conduct more transactions faster.
Automatic Ordering and other new features are available now for Qualia Marketplace subscribers. To explore Qualia’s full suite of vendor management features, or for more information, visit qualia.com/marketplace.
ABOUT QUALIA Qualia is the category-creating digital closing platform used by over half a million real estate and mortgage professionals. Qualia's cloud-based closing rooms provide the complete infrastructure to streamline the home closing and refinance experience for real estate and mortgage businesses and their clients. The company offers a suite of products that brings together homebuyers and sellers, mortgage lenders, title & escrow agents, and real estate agents onto one secure, remote platform. Since launching in 2015, the company has been named an ALTA Elite Provider, CB Insights Fintech 250, grown to over 500 employees, and has been recognized by Forbes as a Best Startup Employer. The company is a leader in industry security and was the first technology company to join the Coalition to Stop Real Estate Wire Fraud. Qualia is headquartered in San Francisco, CA and has offices in Austin, TX, and Superior, CO. For more information on Qualia, visit www.qualia.com.
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