As a Real Estate agent or Mortgage Lender you build relationships with all kinds of people that can enhance your business. One of the biggest partners you have is your Northern Virginia Title Company. There are a lot of them out there too. They are all competing for the same business trying to stand out in the Title Company sea of Vanilla. Most Realtors that I know and now work with over at Stewart Title have told me that the reason they used the company (before me) is that they wanted someone local who could provide good service and could do mobile settlements. Those are all good things of course, but if you have been on my site much you know that I think of those things as a “job description” and the norm for any Title Company. Before you work with a Title Company and pick them as your teammate in business, OR just going forward you need to ask them a few things. In fact, there are 3 questions you need to ask your Northern Virginia Title Company. The answers may surprise you and make your re-think that relationship.
#1 Who Underwrites your Title Insurance?
You might think huh? Who cares? Don’t all the companies here do that? Nope. Actually none of them do. The “Settlement” companies here in the Northern Virginia/Washington DC area are just that…Settlement companies. They all get their Title Insurance from somewhere else. There are 4 Title Insurance Underwriters in the US.
- FNF (Fidelity National Financial) Chicago Title, Commonwealth Title, Fidelity Title, etc.,
- First American Title Insurance Company
- Stewart Title Guarantee Company
- Old Republic Title Insurance Company
Does #3 sound familiar? It should. Stewart Title is the ONLY Title Insurance company that is also an underwriter in this area. That means we don’t farm out our Title Work. Ask your current Northern Virginia Title Company who is their underwriter because you will surprised when they say “Stewart Title.” So why work with them…when you can work directly with the source?
#2 How Can you Help me with my Real Estate Marketing/Business Growth?
As I continue to teach Real Estate Marketing Classes in the area and help agents and lenders with Short Sale Leads, Renter Leads, Refinance Leads, Farming, WordPress Training, Video, SEO, and more I challenge them to go back to their Title Company and ask the sales rep or processor the same questions they ask me, or for help growing their business. Generally the agents come back to me saying their Title Company had no idea what to do or how to help them. When that Title Company Sales Rep stares back with a blank look…that is when you know it is time to move on and find another teammate. Most Title Companies are quality and capable of closing your business, but you have to have business first right? It’s like gas in your car. You can have a gorgeous car but without fuel it just sits there.
#3 How Much Business Have you Helped me Get in the Last 12 Months?
This kind of ties into question #2 but think about it. You give X amount of business to a Title Company in a given year…how much did they help you get? You gave them 20 deals…they gave you lunches, coffees, and their crappy title company gimmicks? In my world it should be a 2 way street where I help the agents with any and every aspect of their business and in return I earn their business! So take a moment and go back to your Northern Virginia Title Company and ask them how many deals they closed were a result of them helping you obtain that business?
Need a New Title Partner?
Going forward in your Real Estate business its all about working together as a team to maximize your business and your “opportunities at business.” If your Northern Virginia Title Company is not helping you with your Real Estate Marketing, Build your Business, Get Found Online, Farming, ,Technology, Underwrites their own Title Insurance, then lets chat and work together to build a strong working relationship. All you have to do is take a moment and fill out the form below and tell me exactly how I can help you going forward!