The Path to $1 Billion in Real Estate Transactions, Entirely Online
On August 7th, 2017, Notarize completed the country’s first online real estate closing with United Wholesale Mortgage and Stewart Title. I’ll never forget sweating bullets as we watched in real-time while every single edit was made to 284 pages of closing documents. And it wasn’t just us - a reporter from the Wall Street Journal followed along as we sought to forever transform how millions of Americans buy and sell their homes online.
Today, it's incredibly humbling to announce that we’ve helped people buy and sell more than $1 billion of real estate online. We've saved tens of thousands of hours for our partners and helped thousands of people get into their homes faster.What was once science fiction is now occurring around the clock on the Notarize platform. It's remarkable to see how far we – and the market – have come since that first online closing less than two years ago.
A homebuyer in Chicago connected with our Virginia notary, completed the closing, and we instantly delivered the mortgage collateral into the secondary market. We made history that day, but it was really only the beginning of our journey to bring online closings mainstream.
It took us another 17 months to reach 1,000 real estate transactions. Over the course of that time, we rebuilt our platform numerous times, launched APIs to automate the workflow before and after the closing, designed new tools for lenders and title companies to collaborate and serve their customers online, and passed legislation in 21 states.
That 1,000th real estate transaction occurred in just January of this year.
Our partners now include several of the largest lenders and title companies in America. With Notarize, they’re reimagining what it means to provide exceptional service in the 21st century.
We’re seeing explosive growth, too. Our volume is up more than 300% just this month over last. It took us 18 months to reach $1 billion in real estate transactions. We’ll process our next billion in the next four weeks.
We are extremely grateful to our partners for continuing to invest in Notarize. We wouldn’t be here today without their commitment to providing a better home buying experience, and what it means to be digital-first.
I’d also like to take a moment to acknowledge the Notarize team. It started as a trickle, and everyone who knew anything about real estate doubted us, but we’ve stayed focused and we’ve kept the pace up for two-plus years.
Almost any team would have folded, but not us.
Please join me in congratulating Team Notarize for reaching this remarkable milestone. I know I speak for our team when I say that we’re excited to serve your next real estate transaction - we’ll see you online :)