One of the most challenging aspects of expanding title & escrow operations is the highly regionalized nature of real estate. Not only do regulations vary at a local level, there are also local business customs that are learned on the ground. Often, title & escrow companies rely on local title vendors to help them navigate local requirements; however, discoverability of trusted, vetted vendor partners can be challenging and takes time.
Qualia Marketplace is designed to enable title & escrow companies to easily expand their businesses to new regions and deepen their local presence. The tool enables title & escrow businesses to identify and connect with local, knowledgeable vendors and service providers. These relationships are made easier through convenient digital order opening and payment completed entirely on the Qualia platform.
Marketplace has been one of the most important tools for Qualia customers for several years and soon, one of the most coveted corners of Qualia’s platform will get an upgrade. The new Qualia Marketplace Hub will enable greater navigability and ease of use for Qualia customers to increase efficiency, deepen vendor relationships, and bring more vendors into the Marketplace.
New Qualia Marketplace functionality
The Marketplace update is designed to improve discoverability of vendors, enable quicker access to frequently used vendors, and bring non-Marketplace vendors into the ecosystem through a new Vendor Invite feature.
Enhanced vendor discoverability
Qualia Marketplace features hundreds of trusted vendors that have all been vetted by Qualia. Discovering these service providers will be easier and more personalized than ever. The new hub will offer curated recommendations for services and vendors based on order criteria such as state, transaction type, or the underwriter on the file.
These recommendations will make it easier for title & escrow businesses to quickly discover vendors when volume fluctuates higher or when a particular task becomes an operational burden that could be performed more efficiently by an outside expert.
The enhanced vendor discoverability also enables title & escrow businesses to quickly start doing business in a new state or region. For example, if you’re doing a closing for the first time in the state of Florida, you will likely need a municipal lien search. Qualia will remind you of this on the new Marketplace Hub by featuring a tile for municipal lien searches which you can click into and discover a trusted vendor to fulfill the order.
Streamlined access to your most commonly used vendors and service providers
Real estate is a relationship-based business and vendor relationships are deepened over time through repeated business. Qualia customers often order the same Marketplace products on nearly every file. The new Marketplace Hub will make repeat orders easier through front-and-center access to their most-used vendors.
This functionality will not only increase efficiency through quicker access to commonly-used vendors, it will also enable title & escrow businesses to more easily onboard new team members. Processors must often learn which vendors the business frequently works with for particular file types. Now, this knowledge will be front-and-center on the Marketplace Hub.
A simple way to invite your favorite vendors and service providers to the Qualia platform
While the Qualia Marketplace offers a robust set of vendors and service providers, title & escrow businesses sometimes find that longstanding vendor partners are not yet on Qualia Marketplace. The new Marketplace Hub will make it easier to invite trusted vendors into the Qualia ecosystem through a new Invite Vendor feature.
To explore Qualia’s full suite of products for title & escrow companies including Marketplace, click below to schedule a time to speak with a Qualia expert.
