Can a Title Sales Rep Make Over Six Figures?
I want to start off 2019 by dedicating a blog post to my people…the Title Insurance Sales reps. Having been in the business since 2005, and now managing a team of Title sales reps myself, I see the job from the angle of a newbie starting from scratch trying to find their way and develop their own value proposition. The view of this job is one of ease. All you need to do is wine and dine Realtors and viola--the business just comes over. WRONG! The realization is this job is hard, has lots of competition and most people have trouble standing out in a crowd of Title Companies. If you are struggling in Title Insurance Sales, don’t fret as you are not alone. The good news, help is available (read this site!) and if you do a handful of items and stop doing others, your business will start to take off. I want to share with you what I share with my team to assist in your growth for 2019. Here are the reasons you are struggling in Title Insurance sales, and how you can break through and start building success.
Wasting Time
First and foremost, time is the most valuable thing we have in this business. Time is finite, so how we use our time, dictates our production. When I see people struggling in Title Insurance Sales it’s because they are wasting time or being very inefficient with it. Driving around in their car aimlessly trying to get past the front desk person to talk to non-producing agents who are going to also waste their time, calling the wrong people to set appointments, or only setting a few appointments a week and thinking that is sufficient.
Find ways to maximize your time to get things done. Have a plan each week of what you are going to do…and execute on it. Call NDC’s (non-directing customers) on your files, and set appointments with them! These agents are doing deals–they have one with your office right now. Speak to real estate brokers about teaching valuable content to their agents. The top producing agents and lenders will flock to you if real value is shown. When entertaining a client, have them invite another producing agent you don’t work with yet.
Realize that this job is not Monday-Friday 9am-5pm. Top producing Title Salespeople work from anywhere at any time. We create more time, by not having a stop time or day. If I need to sponsor an event on a Saturday or Sunday and it’s a top prospect or client–I do it. Create time by being efficient. Identify and set appointments with the top 20% of agents/lenders we want as clients.
Your Value Proposition Stinks
It doesn’t matter what business you are in–if you don’t have some sort of way to stand out in a crowd and be noticed, you are in trouble. Being vanilla in a sea of massive Title Company competition is death. You have to convey a clear and concise value proposition(s) that lets your prospects know there is a big difference between how you and your company can help them vs where they are right now.
You may have to create your own value proposition, but that’s what’s necessary. Maybe you speak Spanish, or know social media really well, or can help with real estate branding, or a good public speaker and can teach classes. Whatever that is–focus on making it even better than lean on it heavily. If you are meeting with Realtors and Lenders and not getting a lot of conversions, it’s because they haven’t seen enough value to make the switch.
Not Listening to Proven Title Sales Managers
If you are struggling to get your numbers up, and your Title Sales manager is providing good advice based on their proven past successes…listen to them. Many times Title Sales reps receive great advice to grow and decide they want to do it “their own way” and a couple months later after not producing they should have implemented the original advice. If someone in this business who has a proven track record offers training, advice and guidance to success–listen to them and take action.
Not Willing to Put in the Necessary Work
I was looking to use another phrase, but I can’t find a better one that fits. When it comes down to it, few are willing to do what’s necessary to close $1 Million or $2 Million a year in Title revenue. They don’t look at the big picture as they are building a business inside of a business using someone else’s money. People talk a big game, but in the end, the production numbers speak for themselves.
I see people who want big success but only do moderate activities to achieve. They don’t want to grind and do hard work for a few years to grow and learn/implement one or two unique selling propositions. This job is not easy, and the work to be at a top-level is very involved. Business doesn’t just fall into your lap and new clients don’t magically switch their Title Relationships. Looks and charm only get you so far, but in the end, the real professionals partner with like-minded people they consider valuable to their business. Work hard, be professional, and let your prospects know you are their business partner who can help them get to another level. When your clients see you in that regard…you have done your job and the business will grow!
Are you Struggling in Title Insurance Sales?
You are not alone because when I got into this business, there was little to no training. As many Title Sales reps can attest, if you call or email me with questions, I will respond. Also, if you want more information on Title Sales and building success, click on the link below.
Need Help? Fill out the form below or email at wvander@stewart.com
Director of Sales/Marketing at Stewart Title
My name is Wade Vander Molen and I am the Director of Sales and Marketing for Stewart Title in Northern Virginia/Washington DC.I work with Real Estate agents and Mortgage Lenders helping them grow their business with Outbound and Inbound marketing strategies. If you wish to meet and set up an appointment call me at 480-203-6452 or email at wvander@stewart.com
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