Having been in the Title industry since 2005, I have seen many Title Sales Reps come and go with only a handful really “making it” and taking their business to truly lucrative levels. With thousands of Title Salespeople in the US, that means a huge majority either wash out or never find the level of success they are seeking. Why is that? The main reason is a massive lack of training for Title Insurance Sales Reps. When I started in the business, I received little to no training. Being the newest Title Rep of 20 for my Phoenix, AZ company, I “shadowed” a few people but none were eager to share how they grew a book of business or their success secrets. I was left floundering around for a while before actually learning the job and finding my way. That learning curve could have shortened if there was training available. Thankfully for me, I kept working hard and grew a successful business in not only Phoenix but 2000 miles away in the Washington DC area. With many Title sales reps reaching out for assistance for this very reason, let’s chat about why there is a lack of training for Title Insurance Sales reps and how we can fix it.
Ever since the new TRID rules came into effect in 2015 we have seen people opt-out and waive Owners Title Insurance on the final Closing Disclosure. Doesn’t help that Owners Title Insurance can be found under the “Other” section on the CD and “Optional.” It’s always been optional to obtain, but I feel they could have done a better job of not making it appear as a non-meaningful purchase. Every month, we have a handful of people that decide to waive Owners Title Insurance and find it as a useful way to save money on their real estate transaction. Waiving Owners Title Insurance may seem smart at first, but has a long-lasting impact on your largest asset, especially when you decide to sell your home. Before you decline his one time purchase–look yourself in the mirror and ask yourself these questions.