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The differences between real estate closers and escrow officers can be seen in a few details. Each job has different responsibilities and duties. Additionally, an escrow officer has an average salary of $50,270, which is higher than the $38,896 average annual salary of a real estate closer.
The top three skills for a real estate closer include escrow, settlement statements and data entry. The most important skills for an escrow officer are customer service, HOA, and title insurance.
| Real Estate Closer | Escrow Officer | |
| Yearly salary | $38,896 | $50,270 |
| Hourly rate | $18.70 | $24.17 |
| Growth rate | 5% | 4% |
| Number of jobs | 20,016 | 62,077 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 48% | Bachelor's Degree, 47% |
| Average age | 49 | 45 |
| Years of experience | - | 6 |
A real estate closer is primarily in charge of closing real estate sales, liaising with buyers and sellers most of the time. Their responsibilities typically include preparing and processing legal documents, coordinating with attorneys, delivering paperwork to all parties, and completing all requirements. They must also schedule inspections, appraisals, regular maintenance checks, and repairs when necessary. Furthermore, as a real estate closer, it is essential to maintain an active communication line with all parties involved in real estate sales, all while adhering to the company's policies and regulations.
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.
Real estate closers and escrow officers have different pay scales, as shown below.
| Real Estate Closer | Escrow Officer | |
| Average salary | $38,896 | $50,270 |
| Salary range | Between $26,000 And $57,000 | Between $36,000 And $70,000 |
| Highest paying City | New York, NY | Walnut Creek, CA |
| Highest paying state | New York | New Mexico |
| Best paying company | Citi | Fidelity National Financial |
| Best paying industry | - | Finance |
There are a few differences between a real estate closer and an escrow officer in terms of educational background:
| Real Estate Closer | Escrow Officer | |
| Most common degree | Bachelor's Degree, 48% | Bachelor's Degree, 47% |
| Most common major | Business | Business |
| Most common college | University of Southern California | University of Pennsylvania |
Here are the differences between real estate closers' and escrow officers' demographics:
| Real Estate Closer | Escrow Officer | |
| Average age | 49 | 45 |
| Gender ratio | Male, 33.4% Female, 66.6% | Male, 14.9% Female, 85.1% |
| Race ratio | Black or African American, 5.4% Unknown, 4.3% Hispanic or Latino, 13.5% Asian, 7.0% White, 69.5% American Indian and Alaska Native, 0.3% | 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% |
| LGBT Percentage | 13% | 8% |