Why Green Closings?
CEO Mike Piple came to this decision for two reasons:
- The amount of unnecessary paper consumption in the real estate industry is staggering.
- All that paper actually causes POOR customer service!
With technology today, there is no reason to be so dependent on paper files. After extensive research, Option-1 Title &Escrow launched its “Green Closings” Process along with other “Green Initiatives”. This “Green Closings” process and the “Green Initiatives” are as follows:
“GREEN CLOSINGS" PROCESS:
- Eliminating the use of a traditional file system with a virtual folder, therefore eliminating the use of approximately 200-250 pieces of paper per file. For a typical Title Company processing 100 files, this could mean saving 20,000-25,000 pieces of paper per month and 100 legal size file folders!
- Eliminating the use of a typical fax machine with a paperless fax technology, therefore eliminating the need to print incoming faxes. This alone has reduced paper usage by 25-30 pieces of paper per file. This translates to saving 2500-3000 pieces of paper per month!
- Eliminating handing out a typical closed package to a client with a CD, therefore eliminating the use of approximately 125-175 pieces of paper per closed package. Again, at a typical Title Company closing 50 transactions per month, this could mean saving 6,250 to 8,750 pieces of paper per month and 50 legal glossy file folders!
- Eliminating the use of the typical process of recording legal documents at county courthouse with e-recordings, therefore eliminating the use of 30 pieces of paper per closed file plus two to three paper checks. Again, at a typical Title Company closing 50 transactions per month, this could mean saving 1,500 pieces of paper & 100 to 150 checks per month. At present, counties such as Fairfax, Prince William, and Montgomery have adopted the e-recording platform.
In summary, for a “Typical Title Company” the Green Closings process can save 30,250 to 38,250 pieces of paper! At a “Green Title” company like Option-1 Title & Escrow, our process saves us a lot more!
Because Option-1 does not to have to deal with all that paper/files, our processing team is Faster, More Efficient and More Reliable. This is why we can claim to be:
“The Greenest, Fastest and Most Reliable Title Company.”