Escrow officers are responsible for verifying real estate deals and processing their finalization. They ensure whether the property titles are clear and the buyer and seller's agreement is fulfilled. They also check to verify the authenticity of other real estate agreements and land ownership documents' accuracy. Escrow officers earn an average salary of $43,000 annually or $20 per hour.
Escrow officers manage disbursement for property expenses and ensure that the company complies with the necessary rules and regulations. They order beneficiary statements and demands while preparing real estate closing documents. They also coordinate with sellers, buyers, lenders, and Realtors to process and finalize a real estate deal. Escrow officers may also assist with receptionist duties such as answering phone calls and scheduling appointments.
Escrow officers typically hold a high school diploma or its equivalent. However, having a higher degree, such as a bachelor's or master's degree, may prove advantageous in the long run. They are expected to have some years of experience with the real estate closing process and possess exceptional organizational and customer-service skills. Some employers prefer candidates with a keen eye for detail and the ability to read and interpret blueprints.
What Does an Escrow Officer Do
There are certain skills that many escrow officers have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed detail oriented, initiative and interpersonal skills.
Learn more about what an Escrow Officer does
How To Become an Escrow Officer
If you're interested in becoming an escrow officer, one of the first things to consider is how much education you need. We've determined that 46.8% of escrow officers have a bachelor's degree. In terms of higher education levels, we found that 2.8% of escrow officers have master's degrees. Even though most escrow officers have a college degree, it's possible to become one with only a high school degree or GED.
Learn More About How To Become an Escrow Officer
Top Escrow Officer Jobs Near You
Escrow Officer Career Paths
In addition to switching up your job search, it might prove helpful to look at a career path for your specific job. Now, what's a career path you ask? Well, it's practically a map that shows how you might advance from one job title to another. Our career paths are especially detailed with salary changes. So, for example, if you started out with the role of office manager you might progress to a role such as operations manager eventually. Later on in your career, you could end up with the title manager, assistant vice president.
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Average Salary for an Escrow Officer
Escrow Officers in America make an average salary of $50,270 per year or $24 per hour. The top 10 percent makes over $70,000 per year, while the bottom 10 percent under $36,000 per year.
Average Escrow Officer Salary
$50,270 Yearly
$24.17 hourly
What Am I Worth?
Escrow Officer Education
Escrow Officer Majors
Escrow Officer Degrees
Top Colleges for Escrow Officers
1. University of Pennsylvania
Philadelphia, PA • Private
2. Northwestern University
Evanston, IL • Private
3. University of Southern California
Los Angeles, CA • Private
4. SUNY at Binghamton
Vestal, NY • Private
5. Villanova University
Villanova, PA • Private
6. San Diego State University
San Diego, CA • Private
7. Bentley University
Waltham, MA • Private
8. Boston University
Boston, MA • Private
9. SUNY Stony Brook
Stony Brook, NY • Private
10. New York University
New York, NY • Private
Top Skills For an Escrow Officer
The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 19.2% of escrow officers listed title companies on their resume, but soft skills such as detail oriented and initiative are important as well.
Escrow Officer Demographics
Escrow Officer Gender Distribution
After extensive research and analysis, Zippia's data science team found that:
- Among escrow officers, 85.1% of them are women, while 14.9% are men.
- The most common race/ethnicity among escrow officers is White, which makes up 68.3% of all escrow officers.
- The most common foreign language among escrow officers is Spanish at 63.1%.
Online Courses For Escrow Officer That You May Like
Advertising Disclosure The courses listed below are affiliate links. This means if you click on the link and purchase the course, we may receive a commission.
How to Become a Mobile Notary and Loan Signing Agent
Learn how to make over six figures as a Real Estate Loan Signing Agent and Mobile Notary...
Virtual Transaction Coordinator for Real Estate Agents
Build a Team, Delegate Tasks, Monitor Results Remotely & Deliver Extraordinary Service to Clients by Using GoogleDocs...
The Ultimate Guide to Becoming a Notary Loan Signing Agent
Step-By-Step Blueprint on Creating a Thriving Mobile Notary Loan Signing Agent Business in Under 30 Days...
Show More Escrow Officer CoursesBest States For an Escrow Officer
Some places are better than others when it comes to starting a career as an escrow officer. The best states for people in this position are New Mexico, New York, Oregon, and Maine. Escrow officers make the most in New Mexico with an average salary of $61,290. Whereas in New York and Oregon, they would average $59,691 and $59,464, respectively. While escrow officers would only make an average of $58,853 in Maine, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.
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