While other industries found success using new technology to make their services faster and easier, the group behind JetClosing felt that real estate was missing out on a tremendous opportunity. Other services like shopping and banking moved online and onto smartphones, but buying a home remained an extensive, time-consuming and confusing headache.
JetClosing changes this by offering resources like a title and escrow mobile app that helps realtors keep everything they need in one place. According to AZ Business Magazine, the app speeds up the previous paper-based process by providing transparency, real-time updates, a closing timeline, fixed escrow fees and direct electronic payment.
JetClosing launched in Washington in 2016 and expanded to Phoenix in the fall after raising $2 million over the summer according to GeekWire.
“Our company headquarters and dev team is in Seattle, Washington,” said CTO David Wolf in an email, “but we chose Phoenix/Scottsdale as our launch market because Arizona is one of the most progressive states in terms of being able to access real estate data digitally, and digitally record purchase and sale transactions with the county.”
Wolf said JetClosing’s use of cloud services, including “serverless” technologies, allows the business to grow and scale operations easily. Because everyone has easy access to what’s going on at all times through the app and website, the workforce can be more distributed.
“For example,” Wolf said, “when you have to sign that big stack of documents at closing, we can meet you in your nearest of 22 Phoenix-area Regus offices to sign or come directly to your home or other preferred location. We show up with a tablet where you can sign most of the documents digitally – a huge time saver! – And also there are no surprises because we sent you PDFs of all these documents three days in advance. Our cloud-based technology and deep experience in this area of real estate let us truly deliver timely, drama-free closings.”
JetClosing has also expanded to Denver, Colorado, and Olympia, Washington, and hopes to continue to reach new markets.
“We’re pioneering the path to truly digital end-to-end real estate transactions, and will be at the forefront as state laws change to allow them,” Wolf said.