Broker Letter Regarding SureClose
Posted on October 23, 2013 by Bethany Brannan
In 2008, AAR began offering transaction management (TM) through SureClose®. At the time, few choices existed in the marketplace and it was expected that SureClose® would become a statewide platform. Since 2008, numerous other TM systems have been developed. Some existing SureClose® brokers have even moved to other systems and, as a result, monthly SureClose® file counts have been in decline since 2011. AAR has also been informed that the parent company of SureClose® has discontinued selling SureClose® to brokerage firms outside of its existing contracts to focus future SureClose® support and development on title and escrow business.
After a great deal of discussion and consideration, AAR is now phasing out the SureClose® product as a member benefit. Beginning January 1, 2014, AAR will continue to financially subsidize the majority of the TM cost; however SureClose® will charge and invoice SureClose® brokers a fee of $1 per transaction file created. Each file will be accessible for seven years, just as in the past.
AAR Business Services will continue to train and support our SureClose® brokers through 2014, when training and support will be assumed by SureClose®. AAR will continue to evaluate new and current TM systems and will assist brokers in selecting TM systems.
On January 1, 2015, AAR will discontinue financial and technical SureClose® support and has negotiated a $4 per transaction fee through 2016. Automatically-renewing, one-year agreements will continue under the same terms after 2016.
For more information, please see our FAQ (Frequently Asked Questions) list below. Updates to this FAQ list will be posted here .