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Title Company Marketing – What Is Value?

Title Company Marketing

Hello?


It’s Friday Yea! The last day of work before the weekend. Thousands, scratch that – hundreds of thousands of 9 to 5ers celebrate this day as the last day before they get to relax and unwind from a long week. Of course, I am not included in those 9 to 5ers, I left the title industry after 10 years to focus on my new venture – PRO-Found Marketing. Starting a new company is a lot like having a baby, it’s a lot of work and worry and frustration and you can’t wait for it to be over. Over meaning, born.

Of course, even when a start up is born there is still so much work that needs to be done. The foundation is laid but the work continues. Every once in a while I find myself reflecting back to my days as a title rep – usually when a real estate agent calls me asking for help with another deal that is or has already gone sideways OR even better, when a title rep calls to vent. I’m fortunate, over the 10 years in the biz I have worked for 4 different title companies and met a lot of great title reps – relationships that have stayed intact. Today was a day that I felt for a friend of mine – a title rep still in the game. She called to vent her frustration with the job, the market, the drama. One of the things I teach our clients is – content is king. If content is king, his queen is good, unique, dynamic, engaging valuable content. Content is what consumers look for online when they need information or a problem solved. How can someone find you or your business online of they don’t even know you exist? The answer – content.

My friend, let’s call her uh, “Amy” called to tell me how hard the job is of being a title rep. She is right. Being a title rep, especially here is Arizona where there are over 60 title companies is not an easy job. As we talked about her frustrations she made a great point.

“Stephen, the market is so competitive and so hard and all the stars literally need to line up to get a deal in the door. First they [the real estate agent or loan officer] need to be unhappy with their current title company, then they need to be willing to meet with me, then they need to like me, then they need to like my escrow officer and his/her assistant and of course they need to like my title company. Of course, then the deal needs to go well and they need to come back again. Don’t forget, we also need to have a program that is going to help them with their short sales! I can’t wait until the end of the day, I need a rest.”

I laughed. I laughed because I have been there – in the exact same place she is at right now. Like I said it is not an easy job. It got me thinking, “Amy” is 100% correct, all those things need to happen, maybe not in that order but they do need to happen at some point to get and most importantly KEEP business in and coming through the door. Don’t forget, real estate agents are like elephants – they never forget. Miss an opportunity to provide phenomenal service and that agent may never come back – there are simply too many choices out there. There is one thing though that trumps all of them. One thing that will keep a real estate professional coming back over and over again – even if your escrow officer makes a [perceived]  mistake or they don’t like your company or , or, or. Value. Everyone wants to be valuable. It’s what will bring your customers back again and again. Think about it – do you do anything or purchase anything without perceived value? I don’t. What about you? Look at the definition of value from the Business Dictionary.

value

Definitions

1. Accounting: The monetary worth of an asset, business entity, good sold, service rendered, or liability or obligation acquired.

2. Economics: The worth of all the benefits and rights arising from ownership. Two types of economic value are (1) the utility of a good or service, and (2) power of a good or service to command other goods, services, or money, in voluntary exchange.

3. Marketing: The extent to which a good or service is perceived by its customer to meet his or her needs or wants, measured by customer’s willingness to pay for it. It commonly depends more on the customer’s perception of the worth of the product than on its intrinsic value.

What is valuable to a real estate agent? Service? Yes of course, but I would classify that as more of an expectation than a benefit. Is a good escrow officer valuable? Again, yes but your customers expect you to have “good” escrow officers – that may be why clients get upset if you don’t. We could go one and on but I would say that most of the value title reps come up with are in fact expectations. So what is truly valuable? What will keep your clients coming back even if your escrow officer makes a mistake, even if all of your competitors are chasing them, even if {insert story here]? Business. In my experience the tools, the education required to grow their business will keep them coming back – over and over again. The perceived value must outweigh the pain though. The pain of staying put. “I can’t leave XYZ title because I won’t get “this” anymore”. That is value.

In the real estate space, value is increasing your clients business. Value is getting their phone to ring. Value is more business. Can you do that? Sure, everyone “says” they can help a real estate agent grow their business but really – can they? Can you? If the answer is yes – I bet your market share is great, I bet you work with some of the top agents in your market I bet you are killing it. If the answer is no – you need more value.

In today’s competitive real estate space value is teaching your clients how to get “found” online by their ideal client at the moment they are ready to make a purchasing decision. This is where their clients are – the Internet. Want to help your clients grow their business while making your sales process bulletproof? Help your clients transition from outbound marketing tools that rely on a consumer having a future need to inbound marketing where the need is immediate. That is value.

What is Value To You?

Stephen

Hi I'm Stephen Garner, I'm just a guy in the title industry {in Phoenix} trying to change how real estate agents market themselves and their services. To that end, I teach my clients HOW TO leverage sales technologies like WordPress, Content, Video, Camtasia, Final Cut X, iMovie and indexable IDX solutions to convey value and help your ideal client find you online when they are most interested in learning about you and your services. I work for escrows. Hire me!

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