Share on Facebook Building a title agency requires implementing marketing strategies that generate leads from qualified businesses involved in residential or commercial lending programs. Your strategies must include several ways to introduce your title services to decision makers. Once you qualify candidates as a potential source of business, find ways to stay in touch with prospects until they give you a chance to provide title searches and insurance services. Step 1 Identify the decision makers most likely to buy title services, such as loan officers and mortgage brokers.
Title insurance protects homeowners and lenders; however, it is common that a real estate agent, broker, attorney or lender may make recommendations to the real estate buyer on which title insurance company to use.
First, make a list of all of your audiences. These will likely include, consumer homebuyers and sellers, mortgage lenders, real estate agents or brokers, title agents, escrow agents, or attorneys. Your audiences will also depend on your geographic location. This is because consumers have historically not been very involved in the selection of a title insurance company.
It is still very common for homebuyers to defer to their real estate agent or lender to make this decision. And with homebuyers and sellers becoming more educated than ever, many more are interested in comparing title insurance companies and making that decision themselves. Follow RESPA Laws While you can market your company to a variety of audiences, there are many laws that restrict your marketing practices as a title insurance provider.
Since the consumer is your ultimate customer, RESPA protects their right to select their title insurer. Your state will have specific limits to freebies and services you are able to offer real estate agents.Network with real estate insurance companies, developers, real estate agents, lenders and attorneys to start building the personal relationships that may eventually lead to title work.
Attend real estate association meetings, Chamber of Commerce events and home trade shows. We also provide insurance to small business, mostly family-run seasonal operations primarily focused on the tourist trade. Acme Insurance is a privately incorporated company in the Smalltown district and is licensed to transact both Life and General Insurance/5(18).
So You Are A New Title Insurance Rep | Title Insurance Company Marketing. So, you are a new title rep. First of all, congratulations. The title industry is a fantastic industry to work within.
If you want to grow your book of business as a title rep you need to figure out a strong [and I do mean strong] Value Proposition and a strong.
Business Plan Outline 1. Cover Sheet or Title Page Keep it to a single page. Include the following information: Name of the company Company address. The Title Insurance Company Business Plan is a comprehensive document that you can use for raising capital from a bank or an investor.
This document has fully automated 3 year financials, complete industry research, and a fully automated table of contents. The template also features full documentation that will help you through the business planning process.5/5(1).
insurance products and related services makes the business of title insurance particularly susceptible to question about the amount of premium retained by agencies, profitability of the industry, and the value of title insurance in general.