Back in Phoenix, AZ I used to work with a guy that talked about how Title Insurance Sales Reps used to “Bamboozle” his loan officers. “Bamboozling” is when the gorgeous sales rep(see right) would come into the office and offer nothing of “real value” except for her stunning looks, in which the loan officer would “ohhh and ahhh” over her then send her business. Does that still happen in the Title business today? Yeah it does, not as much as it used to since the market downturn of 2008. Having said that, there is still a good Title Insurance Sales rep trick that happens ALL the time. In many cases you might not even realize that it is happening.
Having been in the Title Insurance Sales “game” for over 8 years I have seen pretty much everything…but I don’t know everything…still gaining knowledge. I’m learning more new things as I build my career and hopefully you are trying to learn more as well. When I started in the business in 2005 I didn’t know much about how to “sell” to Realtors. I didn’t even know what a FSBO (For Sale by Owner) was. Ahh…that was a long time ago. I didn’t have educational videos and websites (like this one) on how to be a better Title Insurance Sales Rep to help me. I had to “fall forward” and learn as I went. And boy did I fall! When you fall there is only way to go and that is up. It also didn’t help that for the first 3 years I was in the Title Insurance business it was 2006-2009 in Phoenix, AZ where the market totally collapsed, and at one time we had 57,000 homes on the market and 75% were Bank Owned (Foreclosures) or Short Sales. That was rough…but the strong survive! Going into 2014 whether you are a new Title Insurance Sales Rep or very experienced there are things to learn and others you should strive to implement in your business. Remember…YOU need to be the solution to every Real Estate agent’s problem. Whatever that is…that is what YOU need to be.
The Title Company Marketing Rep Gimmick has been around for a very long time. You know what that is right? Its the pens, pads, sports schedules, coffee mugs, key chains, calendar, flashlight, flyswatter, and anything else that has the name of the Title Company and is essentially a big “leave behind” by the Marketing Rep so they feel they have portrayed or given something of Value to the person they are meeting with so they in turn feel the need to give that Title Company their business. In the old days the Title Company Marketing Rep Gimmick worked…even now it still does on occasion. At the end of the day the Realtors and Lenders I meet want one thing…MORE BUSINESS! They want to know how to streamline their business to save time, yet maxmize their efforts to do more sales…close more loans…sell more homes.
So…you are a new Title Insurance Sales Rep? First off I want to say “welcome to the field!” Being in the Title Insurance business is very rewarding and fun. It can also be frustrating and upsetting at times. I remember my first day as a Title Sales Rep for a Title Company in Phoenix, AZ. I can honestly say that my knowledge level on the topic of “Title Sales” was very low. I had been a loan officer for 9 months earlier and I knew how to sell…just not selling the way it’s now done…to Realtors. Selling FHA streamline loans was not the same as trying to get a real estate agent to send me their business in a very competitive field of already experienced Title professionals.