SAN FRANCISCO - Technology has inexorably changed the real estate industry and its business models, a panel of industry professionals said Friday at the National Association of Realtors annual convention.

"Title insurance companies have become technology companies," said Travis Wright, CEO of Stewart Realty Solutions, a software shop that is a subsidiary of Stewart Title.

According to Wright, the mass of paperwork involved in title insurance was "out of control," the transaction process was chaotic, and the title process was tedious, time-consuming and all-around "too manual."

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