Copyright

Escrow Officer Education Requirements and Career Information

Escrow officers help real estate buyers through the closing process. They typically act as an objective third-party, responsible for making sure the overall transaction is legal and properly completed. Becoming an escrow officer takes knowledge in real estate and financial practices.

View 15 Popular Schools »

Educational Requirements for Becoming an Escrow Officer

Beginning a career as an escrow officer does not require any formal training or education. However, companies often prefer applicants who have a degree or previous experience in real estate. A variety of schools offer associate's, bachelor's and master's degree programs in real estate.

In most instances, an associate's or bachelor's degree can provide the requirements needed for an entry-level escrow officer position. Coursework in these programs usually covers real estate practices, economics, accounting, real estate regulations and market analysis.

Experience is often a major factor in beginning a career as an escrow officer. Many officers come from the banking or finance industry, which demonstrates to employers a working knowledge in financial practices. Overall, employers look for applicants who have developed good communication, computer and customer service skills in their past jobs.

Career Information

Escrow officers often work for title companies, mortgage lenders and credit unions. During the real estate closing process, their job duties typically include preparing paperwork, witnessing document signings and disbursing funds to the seller. In addition to these administrative tasks, an escrow officer may spend time following-up on leads and explaining services to prospective real estate buyers. They are usually responsible for establishing an escrow account and maintaining its funds and records.

According to Payscale.com, the 2009 median base income for escrow officers was $40,470. However, when typical employment benefits were included, such as bonuses, insurance and retirement investments, the median rose to $60,447 a year (www.salary.com).

Employment opportunities for escrow agents may rise and fall in accordance with changes in the national economy and the housing market. The U.S. Bureau of Labor Statistics (BLS) projected that job openings in the real estate industry would grow between 2008 and 2018, as many workers reach retirement age. However, overall employment opportunities in this field were projected to fluctuate based on housing market reactions to recessions and high unemployment levels (www.bls.gov).

Show me popular schools

Related to Escrow Officer

  • Related
  • Recently Updated
  • Popular
Escrow Officer: Career Overview

Escrow officers facilitate property transactions between parties, usually buyers and sellers of real property. They are...

Escrow Officer Certification and Degree Program Information

Get information on bachelor's degree programs in real estate, which provide training for escrow officers. See examples of...

Online Escrow Officer Training and Degree Programs

Escrow officer is a niche career field in real estate usually requiring some formal education and on-the-job training. While...

Warrant Officer: Salary Info, Duties and Requirements

A warrant officer is a United States Military official ranked W-1 to W-5 who serves as an expert in a specialized technical...

Wildlife Officer: Education Requirements and Career Information

Popular Schools

Popular Schools

Avg. Wages For Related Jobs

Source: Bureau of Labor Statistics