What Do You Need to Be an Escrow Officer?

An escrow officer is organized in packaging closing documents for signature.

During the closing of a real estate transaction, a buyer and seller may choose to work with an escrow officer for protection of documents and funds, as well as for convenience. As a third party, an escrow officer represents both the buyer and the seller. She transfers funds and documents from the buyer to the seller upon closing, only when both sides have satisfied their requirements. To become an escrow officer, you need training, licensing, experience and skills.

Education

To better your chances of gaining employment as an escrow officer, you need courses in real estate and escrow certificate programs. You do not need to earn a degree; a high school diploma is sufficient. Through the American Escrow Association (AEA), you can find introductory courses, conferences and seminars for education toward becoming an escrow agent. The classes provide exposure to conducting title searches, preparing paperwork for closings, witnessing the signing of legal documents and other basics job duties.

Licensing and Legalities

Most states require a license before you can become an escrow officer. You need to pass an an escrow officer examination and apply for a license within one year of passing the exam. To remain active as an escrow officer you need to renew your license annually. Depending on the state your live in, you may also need to be affiliated with an actively licensed escrow agent with at least five years of experience in the industry.

Experience

To become an escrow officer, you need basic office experience. You can start your career as a receptionist in an escrow office or as an escrow assistant and work toward a promotion as an escrow officer. Some courses may allow you to apply your experience as an escrow secretary, assistant or trainee to your educational program and earn a credit toward becoming a certified escrow agent.

Skills

In the position of escrow officer, you work with files and documents. You need to be well-organized. Buyers and sellers rely on you and trust you to disburse funds according to instructions. You must be able to follow instructions and pay attention to detail. It is a position in which you are transferring documents from one party to another. To avoid misunderstandings, you need to have strong communication and interpersonal skills.

References

• DegreeDirectory.org: Online Escrow Officer Training Programs: Your Questions Answered
• Education-Portal.com: How to Become an Escrow Agent: Education and Career Roadmap
• Washington State Department of Financial Institutions: Escrow Agent & Officer Licensing FAQs
• Education-Portal.com: Escrow Officers: Employment Info and Requirements for Becoming an Escrow Officer
• Escrow Officer: Career Overview

Resources

• American Escrow Association: Homepage
• State of California Department of Corporations: General Information Escrow Law