Survey: 68% Increase in Outsourcing HOA Research Since 2020
November 17, 2022
The number of companies that began outsourcing their HOA research for their closings since the pandemic has increased 68%, according to a recent survey from PropLogix.
The survey is based on responses from more than 400 title professionals across the country.
“The data shows as the market really began to pick up post-pandemic, closing professionals began to turn to third-party outsourcing to help keep up,” said Lindsey Gordon, PropLogix director of communications. “We saw a jump in several title production areas like Municipal Lien Searches, HOA research and even title clearing.”
The report also covers the five biggest challenges facing title professionals in 2022. The top answer, according to the survey, is “juggling too many different tasks.” The report also took a look at how these closing agents are handling the workload by diving into which title production tasks title professionals outsource versus keeping in-house.
The survey shows a growing number of respondents who outsource the necessary, but more repetitive tasks, such as title searches and municipal lien searches.
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