The Two Different Title Company Business Models Explained
I was meeting with someone last week and he said: “If Title Companies stopped bringing bagels and donuts to Realtor offices, bakeries would go out of business!” We had a chuckle but the more I thought about it, I agreed with him. In many markets around the country, the Title Insurance Sales Rep behaves and is seen as just that…the “order taker/bagel pusher.” It is time to change the mindset of the real estate agent and start adding real value. I can’t tell you how many times I offered a marketing solution, taught an agent a valuable lesson in real estate technology, or helped them in their business and they said–“Wow, I didn’t realize Title Company people offered this help for agents.” Ever have this happen to you…or never happen to you? So how should the Realtor view their Title Insurance Sales rep? As an order taker/bagel pusher or more? Much…much more.
Bring the Value…not the Donuts
When I started in Title Insurance Sales back in 2005, the market was RED HOT in Phoenix, AZ. Title sales reps were everywhere and Title Companies had “too much” business since homes were appreciating fast, and pretty much anyone could get a mortgage loan. It didn’t matter if you helped an agent with their business because most didn’t need it. Then the market crashed and reality set in. Agents had to learn to be valuable and market “over-priced homes, short sales, and foreclosures.” A far cry from putting a sign in the yard and having it sell in 15 minutes for 10% to 20% over asking price. Title Companies had to add value too, so the dynamic started to change. The bad Title Insurance Sales reps were “let go” and the good ones stayed. The reps that could offer solutions to Realtors business and help them gain clients. As Realtors had to add real value to clients, so did the Title Sales reps.
Don’t Underestimate your Title Insurance Sales Rep’s Knowledge
Over my 10 years I have seen Title Sales reps viewed pretty low on the chain of real estate knowledge. Even myself on many occasion (earlier in my career) was dismissed by Realtors. That was back then, but in today’s world, your Title Sales rep is different. As the market changed, so did the sales rep. I position myself as a resource for most things “real estate marketing, real estate technology, and Title Insurance information” to my clients. I’m teaching THEM. They see me an advanced marketing assistant that they don’t have to pay. That is the job and responsibility of the Title Insurance Sales rep of today…to have just as much or MORE knowledge than their Realtor/Lender clients as it portrays to marketing offline and online.
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Not every Title Insurance Sales rep offers the same services, but do you see how the items above can help the real estate agent gain exposure, gain clients, leads, and implement advanced marketing strategies that leads to business? The MORE business the Title Sales rep’s clients have, the more business for the Title Company. THAT is the role of your local Title Sales rep. Not the same as bringing donuts and bagels huh?
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Your Title Sales Rep is your ALLY
As a Realtor or Mortgage Lender, it’s important to form a strong Title Company relationship. Work with a good Title Insurance Sales rep and look at them as a great ally. Use them to assist in your business needs and to learn more techniques as it applies to offline and online marketing. In my experience, it doesn’t matter if you are new agent, up and coming agent, or a top agent, there is SOMETHING or many somethings that are needed in their business to achieve their goals. Realtors should view their Title Insurance Sales rep as their friend, ally, business partner, and source for real estate marketing and technology knowledge. Adding “Value” and elevating your real estate business is our goal, so the next time you think about asking a Title Insurance Sales rep why they didn’t bring the donuts and bagels, ask them a much different question. One that can HELP your business grow and expand!
Looking for a Good Title Insurance Sales Rep?
If you are in the Northern Virginia/Washington DC are and need help with your business, want to build a strong relationship with a Title Company, you have come to the right place. Stewart Title would love to earn your business AND help you build it. Want to set up an appointment? Fill out the form below and let me know how I can help you succeed!
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DCTitleGuy
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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