I get asked a lot of questions over the course of a week. Many of them involve real estate marketing, websites, or how to do something. In some instances, I direct a Realtor or Lender to another website that can help them with that question or teach them something new. When you know or use these sites on a regular basis, you think most people in the industry know them…far from the truth. Here are some super helpful real estate websites that can enhance your business…but you probably didn’t know existed.
When someone buys or sells a home there are fees charged to both the buyer and seller. The buyer pays most of the fees in my area (Northern VA-Washington DC), with the seller paying commissions and some other smaller fees. One of those fees is the seller settlement fee. This charge sometimes gets lost in the shuffle as the buyer fees dominate conversation in the transaction. Just the other day, I had a crazy transaction where the listing agent through a huge fit because he thought our seller settlement fee was frivolous and as a Title Company, we represent the buyer, so the buyer should pay it. Far from the truth! I still find it interesting how many Realtors still don’t understand the charges on a settlement statement or where it says in a purchase contract, who pays for what. In this blog, I want to go over the seller settlement statement and explain the charges so anyone selling a home knows what that charge means at closing.
As a licensed Realtor, mortgage lender, or Title Company escrow officer, you see various real estate contract language that has you cringing. It also has you wondering WHY someone would structure a deal a certain way. Sometimes there is a direct intent, sometimes not. There are many ways to create transactions through language, but others that create not only confusion and stress for the parties involved. The other potential major issue is other “ramifications” down the road for the Realtor and/or clients.
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.
2019 is almost here, and now is the time when Realtors, lenders, and Title professionals start setting next year’s goals. Setting goals is important as they are short-term and long-term guides to personal and business growth. As a Realtor, I’m sure you have many goals for next year, but I want to focus on three important real estate goals in 2019 that will help you personally and professionally.
I recently had a top Realtor attend one of my classes. I followed up like a good Title Rep and she ignored my email, as she gets bombarded all the time (as any top producer does). I let it stir for a few days then gave her a phone call. During the conversation, she stated she liked my class and got a lot out of it…BUT she is loyal to another Title Company where there is a joint venture. I kept her on the phone asking her business questions about what she direction she was trying to go and how Stewart Title could assist. She agreed to meet. We met the next day and she was very happy with the services we offer and the relationship we bring. The JV Title Company didn’t help her with her business. As we spoke in a coffee shop about her business needs, she explained that in her third year in business, she had done 31 buyer deals and 8 listings (in the first 8 months of the year). Very impressive! Though she was happy with her business growth, she said that her largest fear in real estate was…
Having been in the Title business since 2005, I have seen many things as it relates to methods used by Title Companies to generate business. When I was a Title sales rep in Phoenix, AZ most of the major Title Companies has sales teams. These salespeople would lead generate Realtors and lenders to create Title orders for their company. There were some companies that had joint ventures or MSA’s (market service agreements) but they were not prevalent. Mostly because of the many Title salespeople each company had that caused the “capture rate” of those agreements are pretty low. When I moved to the Washington DC area, I found the opposite is true. Most Title Companies had joint ventures or other agreements in place and very few employed salespeople who generated the organic business. Let’s discuss the two different Title Company business models, how they work and the major differences.
This is not a blog about how amazing Stewart Title is because we have the best service, escrow staff, etc. Everyone says that about their company. I want to talk about the REAL differences that influence and affect YOU…our clients. Settlement and Title Companies are everywhere in each market. Figuring out who to use to support your business can be tough, especially if they essentially all do the same things. Realtors are viewed the same way. If you don’t have at least one strong value proposition, you are in trouble as consumers will view you as the same as other Realtors.
I was having lunch last week with a client and we were discussing his current business model. This client primarily works by referral and spends his marketing dollars and time sending notes, making calls, and doing pop-byes. All great, but I asked him a question…“What are you doing to keep your real estate sales funnel full…with NEW people?” He looked at me and I could tell he was unsure on the answer. If your entire database is 50 people, it is a limited number of people who can use your services and refer you to others. What if your database was 100 or 200+ people? What would that look like for your business? This applies for Realtors, Lenders, and Title Reps. You have to always be adding new people into the sales funnel. Not doing so limits your business tremendously. Taking the right “action steps” to get new people is the challenging part. Here are some tips to make it happen!