When researching a vendor to outsource real estate tax services, there are many essential components to keep in mind. One of the most critical is the level of customization available. Some vendors provide an “out-of-the-box” solution to customers, with little flexibility or tailoring to your institution, which can lead to inaccuracies.
Instead, look for a company who offers a high level of customization. And don’t just take their word for it—ask specifically about the areas below, to ensure you find a solution that will work best for your institution.
Customization should begin with the sales process. Are you getting quoted a “one-size-fits-all” solution, or is your account representative asking questions, doing local research (if necessary) and learning about your institution to create a specific solution for your goals and needs?
The best vendors invest in your institution even before the sale, ensuring they can provide exactly what you need rather than just trying to close a deal.
We’ve examined the importance of the onboarding process, and one key element is how customized the process is. The best scenario is a vendor who will work within your timeline and other specifications, delivering an implementation tailored specifically to you. Learn more about Info-Pro’s implementation process, and how we customize to your needs, in this resource.
Process for managing real estate tax services
This is the service being outsourced, so it’s important that a process is put in place that fits your (and your borrowers’) needs. Look for a real estate tax services company that will create a process that works for you, including preferred communication styles, a dedicated account manager, and reporting to fit your specifications.
Process for obtaining information from tax agencies
At first glance, this may not seem important—after all, why is the process important as long as the correct data is collected? However, each tax office has its own requirements and nuances, so a one-size-fits-all approach can have negative consequences such as missing the discount period, developing a poor relationship with the tax agency, and late fees or penalties due to incorrect data and other mix-ups.
Instead, find a vendor who develops personal relationships with each tax office, and tailors a process for each one that maximizes efficiency, meets the tax office’s requirements, and provides the best service for your borrowers.
Want to learn more about the customization Info-Pro offers, specifically when designing an implementation plan for your institution? Read about the onboarding process, plus commonly asked questions, in this resource.