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The differences between escrow officers and closing coordinators can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become an escrow officer, becoming a closing coordinator takes usually requires 2-4 years. Additionally, an escrow officer has an average salary of $50,270, which is higher than the $39,066 average annual salary of a closing coordinator.
The top three skills for an escrow officer include customer service, HOA and title insurance. The most important skills for a closing coordinator are customer service, escrow, and HOA.
| Escrow Officer | Closing Coordinator | |
| Yearly salary | $50,270 | $39,066 |
| Hourly rate | $24.17 | $18.78 |
| Growth rate | 4% | -3% |
| Number of jobs | 62,077 | 19,203 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 47% | Bachelor's Degree, 50% |
| Average age | 45 | 42 |
| Years of experience | 6 | 4 |
Escrow officers, commonly known as loan officers, are responsible for real estate processing and finalizing deals. They ensure all documents are authentic and prepared, property titles are clear, and financial obligations have been thoroughly met by the buyer and seller. They verify the document of land ownership, checking property title, and consulting with potential buyers, sellers, and lending firms. It is also their responsibility to handle the deposition of funds and processing of legal documents, including paperwork to finalize the transaction.
In the real estate industry, a closing coordinator is in charge of coordinating the final stages of a real estate deal, ensuring efficiency and smooth transaction. Among their responsibilities include preparing and processing legal documents, liaising with the buyer and seller, managing timelines and payment plans, and ensuring that both parties adhere to the terms of the agreement. Moreover, a closing coordinator must maintain an active communication line with staff, answering their inquiries, and assisting them as needed.
Escrow officers and closing coordinators have different pay scales, as shown below.
| Escrow Officer | Closing Coordinator | |
| Average salary | $50,270 | $39,066 |
| Salary range | Between $36,000 And $70,000 | Between $29,000 And $52,000 |
| Highest paying City | Walnut Creek, CA | Kirkland, WA |
| Highest paying state | New Mexico | Washington |
| Best paying company | Fidelity National Financial | HarbourVest |
| Best paying industry | Finance | Finance |
There are a few differences between an escrow officer and a closing coordinator in terms of educational background:
| Escrow Officer | Closing Coordinator | |
| Most common degree | Bachelor's Degree, 47% | Bachelor's Degree, 50% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between escrow officers' and closing coordinators' demographics:
| Escrow Officer | Closing Coordinator | |
| Average age | 45 | 42 |
| Gender ratio | Male, 14.9% Female, 85.1% | Male, 20.8% Female, 79.2% |
| Race ratio | Black or African American, 8.8% Unknown, 4.6% Hispanic or Latino, 16.0% Asian, 6.2% White, 64.0% American Indian and Alaska Native, 0.5% | Black or African American, 12.7% Unknown, 4.7% Hispanic or Latino, 15.8% Asian, 6.3% White, 59.9% American Indian and Alaska Native, 0.6% |
| LGBT Percentage | 8% | 7% |