So, you are a new title rep. First of all, congratulations. The title industry is a fantastic industry to work within. Being a title rep is fun, challenging and rewarding. You will hopefully be working with some of the best and biggest REALTORS, real estate agents, brokers, banks, investors around. Welcome to the title business!
“Now SINK or SWIM!”
This is the message that I got [essentially] 10 years ago when I started as a title rep. I filled out the paperwork in my new hire packet including the business card requisition form [you would not believe how excited I was to have business cards], I was handed my Nextel phone [the pager kind - it was the size of an iPad today] and was told to report to my branch office. I found out a little over a year later that they didn’t expect me to make it. There had been so many other title reps in my position before me. Sales is not an easy occupation. The good ones are paid well because there are so many bad ones out there.
I reported to my office where I met my escrow officers. They looked at me with skepticism [Is this one going to make it?] they didn’t “get” me. Just by the shear nature of the job, if you are a title rep you tend to be a little more outgoing than your typical escrow officer.
The branch manager [Stephanie and her assistant Katie- hi Stephanie! Hi Katie! Am I still your favorite rep?] showed me my new office – well it was new to me. The drawers were full with another title reps – stuff. The computer was still set to him, the pens in the drawers were his, there were notes everywhere. Call X, talk to Y about X, etc. This was back when sticky notes, all different colors of them, were the preferred method of communication – with yourself. . .“Remember this, remember that.”
I opened the bottom right drawer to find a phone book. The Yellow Pages. I chuckle as I think about it now but I wasn’t then. The phone book [believe it or not] was a tool we used to reach real estate agents. You could tell who was successful [or who thought they were] by the size of the ad in the Yellow Pages. Some real estate agents even sprung for the “bold listing”. These were the agents that were doing some business [because they could afford the bold listing] but were not killing it like the big guys with the quarter, half or the big daddy – the full page ad!
In the bottom left drawer there was a Rolodex with hundreds of business cards on it. It looked a lot like a high school year book if you spun it really quick – everyone wearing their Sunday best, smiling from ear to ear with some cheesy tag line or even better – holding a phone up to their ear “I’m only a phone call away!” in bold – of course. I did what any new title rep would do – I cleaned the office. Organized things the best way that I could carefully moving the CD updates to the Metro-scan system and Microsoft Publisher. In the other drawer were personalized buyer books that had not been delivered as of yet….“I know, I will deliver them” I thought! I called the agents….
phone ringing. . .
Me: Hi, this is Stephen with XYZ Title, is this X?
Me: Hi, uh, I am the new rep over here at XYZ title that took over for X rep and I have some books for you. Would you be able to meet with me later today or tomorrow so I can get them to you?
Agent: what kind of books?
Me: They are buyer books, and they are personalized for you and your buyer and they look really great [pretty!]
Agent: Just drop them off at my office.
Me: Well I was hoping I could talk to you about working with us at XYZ title and I wanted to discuss how I could help you build your business. [Yes, we were saying that even 10 years ago.....]
Agent:Well, how would you do that Stephen?
And this was my first call to a real estate agent as a new title rep. I can honestly tell you that I second guessed my decision during this call. It was on this call that I was introduced to the concept of VALUE. Value is what the real estate agent wanted and buyers books were what I had. Let me tell you now, that ain’t value.
So as a new rep you will hear your boss, national speakers, sales books, videos, this blog talk about something called value. Let me tell you right now that very few things happen without value. You would not be reading this post right now unless you had already gotten some value out of it or you were hoping to get some [I hope you already have by the way]. Well, REALTORS® and real estate agents are the exact same way. They not only try and deliver value to their customers but they expect is as well. Time is money remember. So her is my question to you.. .. What Is Your Value?
Do you communicate well? Do you have great escrow officers? Do you work for the biggest and best title company in the area? Do you have an affiliated business arrangement with the largest real estate company around? Do you have a great location? Can you take agents to lunch? Can you order a property profile of personalized buyer or seller books? Can you order a geographic farm or labels? What about bulk mail labels?
What is your value? If you nodded your head to any of the value propositions above – you have a problem. Because none of them are of value. Many of them are expectations. Your clients will expect you to have great escrow officers, and buyers books, listing presentations, labels, etc. But that my friends does not differentiate you from any of your competitors. It’s Vanilla. They have the same stuff as you do. Or at least they say they do. To make matters worse, all title companies really provide the same product. You cant really argue the merit of your title policy over another companies can you? To make matters even worse – the consumer has little interest in what a title company is, what it does, which company they use and after the closing – they most likely won’t remember your company.
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 Unique Selling Proposition – [Google them]. Why would a real estate agent work with you? What is so special about you? There may be 100′s of YOU in your area. What makes YOU so different?
Want a hint?. . . .if you want real estate agents asking you for help. Asking you what you think – your opinion about something, fighting to put your title company on the purchase contract – you need one thing. You need to figure out HOW TO help a real estate agent grow their business. Today, the path of least resistance is the Internet. All agents want to know how to use it effectively but most don’t know HOW TO. This is where you come in. YOU can help them build their business by showing them HOW TO get found online by their ideal client.
Now all you need to do is learn HOW. Luckily for you, I created a real estate marketing course that will show you what you need to know. There are title reps like you, real estate agents from Atlanta to Vancouver, Attorney’s and Brokers taking it right now. You want to be a successful title rep? Learn HOW to help them. Learn WordPress, Video, Social Media – for BUSINESS. My course will teach you all of that – and more.