There are a portion of the Title Sales reps who reach out to me who are about to take the job or have just started.  Once I start asking specific questions about the expectations laid upon them, the compensation plan, and their 60-90-day ramp-up goals, many are at a loss for words. These Title sales reps were excited to start a new and exciting job but light on the fine details of what was expected of them.

The Position Starts Before Day 1

I run into this issue quite frequently. I want to put something out that lays out the questions you should be asking whoever is going to be sending the offer letter that you ultimately sign. By asking these questions and getting clarification from the Title Company, your job really will begin before you start. You will be ahead of the game.

Their Expectations of You

In Title sales, some people just do business development. Others do business development and close transactions. This is a dual role that has benefits and drawbacks. I had one Title sales coaching client who took the job and within 30 days the owner wanted the new rep to take over the role of updating the office decor. I’m sure he was unaware of this before accepting the job. What is the company’s expectation of you? If they want you to do both sales and closings, find this out now. If they do want this, then it better be reflected in your salary. You are doing two jobs. If this is not your thing and you want to do just sales. Time to have that discussion.

If you are expected to bring in Title orders only then that needs to be laid out with their expectations for revenue numbers in the first 30-60-90-120 days on the job. These expectations need to be in writing in your offer letter. If the offer letter is vague or not in the letter at all, ask them to please add it for your clarification purposes.

Compensation Plan

I can’t tell you how many times I have had a call with a prospecting coaching client and when we got to the “compensation plan” they were not sure or “had to go back and look at it.” I find it insane because this is how you get paid. It’s important to know how you are compensated for your efforts, and also so you can figure out how many closings you need a month to make your money goals and revenue goals.

Your compensation plan needs to be outlined in detail in your offer letter. This IS NEGOTIABLE. You don’t have to accept what they initially offer you. Don’t negotiate yourself out of a job, but know your worth. Talk to other Title reps (or call me) and learn what is a good and bad compensation structure. When you are offered a high salary, expect your commission structure to be not great, and vice versa.

Know your worth and if you are super confident you are going to kill it, get the best commission plan you can negotiate. You should be making the most money in a year from commission vs your salary.

What Tools Do You Offer?

Title tools are not needed to be successful in this job. However, having tools to offer your prospects and clients is a helpful value add. In the interview, ask what tools they provide to the sales team. If they don’t offer any, ask them what is their time frame to invest in data mining tools, or other technology tools so the Title reps can have an even greater advantage in the field. Lastly, ask them about training on these tools so you can get ramped up. Ask to be trained by someone who has success in the field converting prospects to clients leveraging these tools.

There are many great websites and tools that any Title rep can access and bring to their clients regardless if your Title Company has tools for you. We cover this in Title Sales Coaching.

Do They Provide Sales Training? 

If they all provided effective Title Sales training, I wouldn’t have a coaching program. In reality, very few Title companies offer any form of sales training. I hear from Title reps are they shadowed someone else for a day or two and were sent out on their own, or there was no training. They don’t know what to say on the phone, how to portray value to the prospect, how to qualify a prospect, run the appointment, get commitments to business, and more. You need effective systems, innovation, and direction to be successful.

Ask in the interview if the company provides training. If training is offered, ask to be trained by someone within the company who has a proven track record of bringing in new customers. Request scripts to call non-directing customers, and run the prospect appointment. Ask for access to their CRM and training on how to use it. When they look at you with a blank stare, then reach out and let’s have a conversation about Title Sales Coaching. You can fill out the form below or email me at dctitleguy@gmail.com to set up a consultation call.

Ask the Questions!

Hope this information is helpful as I consistently see struggles with Title reps who take a job and realize after accepting the position, they didn’t dig deeper with the necessary questions upfront. Please use this information to set yourself up for success once entering this amazing field we call Title Insurance Sales!

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DCTitleWade1
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