Let me ask you a question. Are you a Title Insurance sales rep or an account manager? A problem we see in the Title industry is we have far too many “account managers” and not enough true Title Insurance salespeople. You may be reading this and think you know where you fall between the two categories, or maybe you don’t. This blog is meant to be educational and help the people in the account manager role realize they are account managers and how they can add true value to their Realtor and lender clients going forward. This is something that I didn’t figure out for a while after joining the industry back in 2005. When I was started, there was no training for Title Sales reps and I was new to the industry. That makes things tough. Let’s discuss the differences and get you moving in the right direction!
When I was new to the business, I didn’t know a lot about the job, but I did know our Title Company office was connected to a Century 21 office and part of my job responsibilities was to make those agents happy and help them where needed. This usually meant them telling me what they wanted, and I had to go fetch it for them. Postcards, flyers, Homebuyer/Seller guides, etc. I was running Realtor errands and not really adding value to their businesses. This was true with other agents or lenders. I would take them golfing, go to sporting events, or have a fun happy hour. Hey, who doesn’t like that? The issue was I didn’t know HOW to put money into their pocket or SHOW them how to get more eyes to their business. I was an account manager who brought in some new business over time because people liked me or I took them golfing etc. I realized I didn’t want to be known as “that Title Rep.” I can tell you this…account managers DON’T last in this business. They never make the real money in Title Sales because they serve in just this role, or they built up a book of business and coast.
This is the Title Insurance sales rep who brings in 30-40-50 deals a month with no desire to do more. They are complacent which is the enemy of any Title Sales manager or company. Account managers can serve a role for a Title Company, such as they can “manage a joint venture” to ensure the herd is rounded up and deals flow in, or they maintain house accounts to satisfy the company. Account managers are a far cry from the Title Insurance Sales Rep. Emphasis in the word…SALES.
Title Insurance Sales Rep
The true Title sales rep is far different than the account manager. Title sales reps are constantly looking to identify new clients and add real value to their business. This isn’t giving out a Starbucks gift card after closing, but instead helping them set up targeted Facebook ads, implement video into their business, beef up their online presence, or provide information within their real estate farm so they can target market for new listings. They are always bringing fresh content to their clients and prospects that make them smarter and adds value back to them. Title sales reps teach their clients new things to better their real estate business. True Title sales reps aren’t afraid to give presentations or teach classes in front of a group of prospects and clients. Instead, they see it as a great opportunity to shine and show prospects why they should be moving their business to you.
The best part about the Title Insurance sales rep is he/she is always looking to push the envelope with their production. They set goals and when they hit them, they set new ones. I remember thinking opening 100 orders in a month was damn near impossible, then I did it and wanted to see if I could do 110, or 120+. Those numbers become possible when you are always adding real value to your clients and they can see it. Then your clients become your cheerleaders and refer you to other high producing Realtors or lenders. Account managers very rarely have this happen to them. High producing people want to work and associate with other high producers. They gravitate towards each other, which is why the Title Insurance sales rep succeeds and grows where the account manager does not.
Which One Are You?
If you are reading this thinking you may be the Account Manager, don’t worry as there is always time for a change. Take the time to invest in yourself and learn ways to add real value to your clients. Think about what your clients need help with to be successful, then learn how to be the solution to that problem or problems. I can admit when I first began my career in Title Insurance sales, I was an account manager. Partly because I was new and didn’t know the full details of the job or what the capabilities were to really grow to the next level.
If you want some consulting or coaching in Title sales because you want to break out of the mold of the Account Manager, feel free to reach out and we can have a discussion. On the other side, if you are wanting to join a National Title Company like Stewart Title to receive sales training, leverage marketing tools for your clients, and grow…let’s chat! We are located in 43 states across the United States.