Rex, the real estate technology company connecting buyers and sellers online, is partnering with cloud-based real estate closing platform Qualia to power its title and escrow operations. Rex users can track the closing process through an automated escrow system which sends updates and tasks for both parties to complete. The partnership consolidates the closing process, enabling growth of Rex’s title and escrow capabilities without sacrificing efficiency or security, the company said.
“At Rex, we’re focused on reimagining the entire home buying and selling process, simplifying it so that all services are under one roof, and offering savings as a result. We’re excited to have found a partner in Qualia that shares the same goal of a streamlined transaction,” said Lynley Sides, Rex co-founder, COO and president. “The partnership represents another addition to Rex’s suite of services for home buyers and sellers.”
The escrow and closing process is typically obscured from consumers, forcing buyers and sellers to be wholly reliant on third-party vendors and processes which are burdensome and outdated. However, Qualia’s new partnership with Rex grants users active participation in their home closings — a massive step towards digitization and transparency.
Demand for digital real estate transactions continues to rise, and the Rex/Qualia partnership is a prime example of the real estate tech evolution, the company said. Qualia powers teams by removing the technological barriers for tech-forward companies to provide a truly end-to-end closing experience. Once an agreement is made between a buyer and seller, Rex’s title and escrow teams can complete the complex workflows of a home closing by automating much of the paperwork process through Qualia, saving the title and escrow team time and eliminating the errors that can arise as a result of working across multiple systems. Electronic delivery of closing packages to clients and notaries, and final title policies and recorded mortgages to lender partners are now also possible.
“The home closing process has traditionally been one of the most complicated, confusing, paper-laden parts of the home-buying experience,” said Nate Baker, co-founder and CEO of Qualia. “We’re proud to support high growth real estate technology companies like Rex to provide homebuyers and sellers with a transparent, easy-to-understand and fully digital real estate closing experience.”
To advance digital real estate innovation during the pandemic, Qualia recently launched Qualia RON, a remote online notarization product to enable entirely digital, contactless home closings. Qualia RON makes Qualia the first and only title and escrow software platform with remote online notarization capabilities built directly into its end-to-end cloud-based software platform. The solution helps ensure that the millions of real estate transactions that happen each year can continue to take place in a secure, digital way during the COVID-19 pandemic and beyond.
