Top 15 Real Estate Closer Skills (2024)

15 real estate closer skills for your resume and career

1. Escrow

Escrow is the third-party management of funds or assets until certain conditions are met. Real estate closers use escrow to manage loan documents, attend closings, and disburse and reconcile escrow accounts. They also track and balance escrow funds to ensure accurate financial disbursem*nt and follow up on post-closing concerns.

Here's how real estate closers use escrow:

Provided information to open escrow reviewed instructions for accuracy.
Obtain loan documents and attend closing; Warehousing of all closing documents; Disbursem*nt and reconciliation of all escrow accounts.

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2. Settlement Statements

A settlement statement is a document that outlines the final costs and loan terms for a home purchase or refinance. Real estate closers use settlement statements to prepare HUD settlement statements and closing documents according to lender and underwriter instructions. They review final figures with the closing attorney, prepare all closing documents, and balance HUDs for Refinance and Real Estate transactions. They also work with lenders to prepare settlement statements and closing disclosures for residential, commercial, and investment properties.

Here's how real estate closers use settlement statements:

Prepare HUD settlement statements and closing documents according to lender and underwriter instructions.
Prepare all closing documents, including Closing Disclosure/Settlement Statement forms.

3. Data Entry

Data entry is the process of entering data into a computer database. Real estate closers use data entry to document personal information and sort mail. They also perform data entry for projects, such as inputting information into a database on a daily basis. For example, they may organize files, conduct market research, answer calls, and schedule clients.

Here's how real estate closers use data entry:

Job consisted of filing, data entry, mail sorting and answering and assisting callers on 10 line phone system.
Performed typing and data entry based on transactions executed.

4. Property Management

Property management involves marketing, rent collection, and legal tasks. Real estate closers use property management by providing routine support, facilitating surplus property sales, and working as leasing agents. They also execute executive decisions on acquisitions and handle basic repair and maintenance of existing properties.

Here's how real estate closers use property management:

5. Mortgage Loans

Mortgage loans are financial agreements between a lender and a borrower. They allow the borrower to purchase a property by borrowing money from the lender, which is then repaid over time. Real estate closers use mortgage loans to facilitate the purchase of properties. They review mortgage loan applications and supporting documentation to determine the creditworthiness of the borrower. They also calculate the risk of repayment and approve or deny mortgage loans based on their assessment. Once a mortgage loan is approved, they prepare and release liens on the property. They also provide amortization schedules for mortgage loan assumptions and follow up with clients to collect all necessary documents to initiate and close loans.

Here's how real estate closers use mortgage loans:

Approved mortgage loans by examining application and supporting documentation, estimated credit-worthiness, and calculated repayment risks.
Provided amortization schedules for mortgage loan assumptions.

6. Real Estate Closings

Real estate closings are the final steps in the real estate sales process, where the title of the property is transferred from the seller to the buyer. Real estate closers use real estate closings by analyzing contracts, drafting closing documents, coordinating logistics, and disbursing checks. They also manage all aspects of the process, from preparing HUD Settlements statements and mortgage documents to clearing property titles. For example, they might handle real estate closings for foreclosure properties, coordinate with lenders, agents, and lawyers, and manage approximately 30 closings per month.

Here's how real estate closers use real estate closings:

Analyzed commercial real estate contracts and drafted all commercial real estate closing documents Coordinated, organized and facilitated commercial real estate closings
Managed and organized all aspects of legal transactions, coordinating document flow and logistical preparation for legal and real estate closings.

7. Origination

Origination refers to the process of creating or initiating something. Real estate closers use origination when completing and entering loan origination into their system for funding or when executing the loan origination process by ordering credit reports, appraisals, and title reports.

Here's how real estate closers use origination:

Completed and entered loan origination into system for funding
Executed the loan origination process, including ordering credit reports, appraisals and preliminary title reports.

8. Real Estate Loans

Real estate loans are funds borrowed to buy or improve property. Real estate closers use them by verifying project budgets for loans, preparing closing packages, and coordinating with attorneys. They also process, close, and fund real estate loans.

Here's how real estate closers use real estate loans:

Verified project budgets for real estate loans comprised of residential and commercial real estate projects.
Contributed in closing 120 to 180 million dollars in real estate loans per month.

9. Residential Real Estate

Residential real estate refers to privately owned properties like single-family homes, townhomes, and condos. Real estate closers use residential real estate by selling and purchasing properties, providing consultation services to landlords, tenants, and boards of directors, and representing developers, investors, and individuals in real estate transactions. They also advise clients on market conditions and the negotiation process, and assist buyers in evaluating properties and applying for mortgages.

Here's how real estate closers use residential real estate:

Used acquired sales techniques to sell and purchase residential real estate.
Provided commercial and residential real estate consultation services to commercial landlords, retail tenants and residential Boards of Directors.

10. Title Commitments

Title commitments are documents that detail the terms of a property title policy. Real estate closers use title commitments in their job by reviewing them to make sure they comply with lender and underwriter guidelines. They also prepare title commitments and policies, HUD statements, and other closing documents. They review documents from title searches to prepare title commitments and final title policies.

Here's how real estate closers use title commitments:

Review title examinations and prepare title commitments and lender/owner policies.
Prepared title commitments and policies, HUD statements, closing documents and disbursed files and close out file after closing.

11. Commercial Loans

Commercial loans are financial agreements between lenders and businesses. Real estate closers use commercial loans by conducting real estate purchase and refinance settlements for residential and commercial loans. They process commercial loans in accordance with specific programs. They also manage and complete audits of closed commercial loans daily, and review closing documentation to make necessary updates.

Here's how real estate closers use commercial loans:

Conducted real estate purchase and refinance settlements for residential and commercial loans.
Processed commercial loans in accordance to the Conduit and Advantage program.

12. Purchase Agreements

A purchase agreement is a legally binding document that outlines the terms and conditions of a property sale. Real estate closers use purchase agreements to prepare documents for the transaction, review title reports, negotiate contracts, and facilitate the negotiation process. They also create and manage client relationships, identify suitable properties, and complete purchase agreements according to current law and requirements.

Here's how real estate closers use purchase agreements:

Prepared documents including purchase agreements, various contracts, loan assumption documents and lease-related documents necessary for the transaction.
Review title reports and purchase agreements to extract relevant information.

13. Real Estate Transactions

Real estate transactions are the process of buying or selling real estate property. Real estate closers use real estate transactions to represent clients in a competitive market, handle multiple transactions from inception to closing, and solve problems related to credit and title issues. They also review title documents to prepare closing figures and packages, create files for new clients, and work with various parties to execute transactions.

Here's how real estate closers use real estate transactions:

Represented real estate transactions in a very competitive market.
Handle multiple real estate transactions for builder and various clients, from the time of inception through closing, including post-closing.

14. Real Estate License

A real estate license is a legal permit that allows you to buy and sell real estate. Real estate closers use their real estate license to represent clients and complete transactions. They may also use it to maintain active status and continue their education. As Daniel Wright, Program Director and Lecturer of Finance at UNC Charlotte, puts it, "A state real estate license with broker designation is critical for real estate closers."

Here's how real estate closers use real estate license:

Obtained Real Estate License in the State of Indiana
Have Real Estate license currently inactive status.

15. Notary

A notary is a person authorized to verify the authenticity of legal documents. Real estate closers use notary to conduct appointments, provide services for property owners and guests, and verify the legitimacy of documents. They also review documents for signatures and notary stamps, and maintain their notary public commission.

Here's how real estate closers use notary:

Scheduled, organized and conducted Notary signing appointments.
Provided notary services as needed for legal documentation(notary license still current).

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