Real estate software involves a diverse range of domains, such as commercial, residential, industrial, and more. Each software has its specific data analysis, documentation, and management functions to facilitate the key job functions of professionals in the many real estate markets.

However, when it comes to the complexity of the title and escrow process, these transactional procedures seem endless and error prone. To help title agents and real estate attorneys better manage these procedures, G2 added a new category for Title Production Software, also known as title transaction management platforms.

How title production software fits into the real estate tech ecosystem

Before shifting focus to title transaction management platforms, other real estate tools and financial services were available to organize and consolidate the underwriting process. On G2, these products were listed in the Mortgage CRM Software, Digital Mortgage Closing Software, and Real Estate Activities Management Software categories.

Title production software helps manage title and escrow documents and deliver reports on post-closing audit management. These solutions allow title agencies to organize and generate secure data related to trust accounts and closing disclosures. These tools are exclusively designed with title companies in mind. They can facilitate communication and sharing of American Land Title Association (ALTA) files and documents between title agents. 

While these solutions assist in the management and transactions, they do not replace loan origination systems (LOS) or the close and release of property funds. The new Title Production Software category will help mend the market gap created by misdirected buyers looking for title production and transaction management software.

G2 review data shows a promising future for title production software

G2’s robust scoring methodology applies a unique algorithm to assist buyers in their software buying decisions. The data points used in the algorithm include the recency of the review and community engagement with the review. Comparing and contrasting the different products' features and functionality has been pertinent to G2’s success. With Title Production Software being a newly introduced category, it has yet to gain the requisite number of reviews from buyers to auto generate a G2 Scoring Grid^Ⓡ. Based on the current reviews featured in the category, a promising future awaits.

Seven products with historical review rankings are featured in the Title Production Software category. These seven products hold title production software’s central value at approximately 3.6. Four of these products have a rating of at least 4.0 stars, allowing G2’s past user review data from previous software admin to be applied to the new Title Production category. The G2’s user review data creates a standard of historical satisfaction from these existing seven products in the new category. 

Now, we await the submission of new user reviews while platform developers modernize their existing title production systems in reaction to the evolving real estate tech industry.

What's next for title production software

The Title Production Software category currently has 13 products. This number is expected to grow within the year as the need for reliable title production software is imperative.

In February  2022, RamQuest, an ALTA elite provider, announced Paula Maurstad as their new president, which is a strategic move as Maurstad also serves as Senior Vice President for Old Republic Title Insurance Group, one of the largest title insurance groups in the United States. This collaboration between a title agent group and a software developer is creating an innovative environment by bringing an executive team member who utilizes title production solutions to the table where digital changes are being discussed.

Then, in the recent January 2023 issue of TitleNews by ALTA, title experts predicted the current market contraction would prompt more innovation to drive efficiency. Title production software and title transactional systems are efficient solutions built for the needs of the market. These products can assist title companies with limited workforce and financial resources, easing the daily workflow. This means there's massive potential for diverse and accessible solutions to meet this increasing demand. 

Edited by Jigmee Bhutia