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Marketing Title: The Year The S%*t Hit The Fan

There is a storm a-brewin’. No, that is not a typo, it’s the closest a guy from New York can get to a western accent. A-brewin’. I started in the title industry back in 2000. Things were different then and boy have things changed. If you are a title rep, ask your sales manager what the good old days were like – and yes, they were the good old days. Here in Phoenix, I bet there were not more that 40 title companies back in 2000, fast forward to 2006 – there were over 100, fast forward even more, say 4 years from today and I wonder how many title companies there will be. I’m betting less. Here is why.

I created a video about 9 months ago about REO agents, REO and Short Sale Agents: This Doesn’t Need To Happen To You! maybe you have seen it – if not watch it – it’s quite comical. The video was a look at the future for REO and short sale agents that don’t contact their database, that don’t take the time to build up an internet presence – that do nothing but REO and short sales. I know from experience that the path of least resistance is not always the best path. Sure, it’s great to be fed deals from institutions like Wells Fargo, Bank of America, Fannie, Freddie, even the FDIC but at what cost? At some point the REO market will go away. Not with a whimper either – with a bang. All of a sudden the REO assignments will just stop coming in. It’s gonna be hard to go from making $300,000 a year to the average real estate agent’s commission income of $26,600 [2009] don’t ya think? But that is what can happen when you put all your eggs in one basket and don’t plan for the future.

The same thing is going to happen in the title industry. Much like REO agents focused on nothing but REO, many title companies are doing the same. They got fat on the REO’s and short sales. They gave the agents what they wanted to the detriment of everything else. They built up BIG short sale divisions geared towards stacking short sales, submitting them on behalf of the agent and/or seller and in some cases even negotiating them. Same thing with REO. Some title companies traveled the country, courting asset managers like they were kings and queens – “I like your tie!” “Do you have any children? -“let me tell you about BIG BEHEMOUTH TITLE” etc. They spent big money on courting real estate agents and asset managers in places like Las Vegas and Los Angeles, Atlanta and Dallas and hell – where didn’t they go? But there is a storm a brewin’. What will the market look like – what will their business look like in 4 years? When the market returns to normal, when real estate agents AGAIN look to their title companies and title reps for more value than short sale stacking, expensive dinners, sports tickets, REO assignments etc. When they look to their title companies for VALUE in the form of HELP increasing their businesses – what will their value proposition be then? Yep, The Shit is gonna hit the fan. A call to a real estate agent in 2015 might look like this:

It doesn’t have to be this way though. They can prevent the “shit from hitting the fan”. By investing in the future. The future of real estate marketing is not prettier – glossier postcards, bound geographic farms with labels, personalized buyer, seller or even property profiles – it is the Internet. Real estate agents are going to be looking to their title companies for help with technology. Technologies like WordPress. 94% of consumers go online first when looking for homes but that is not all they look for. They look for information about schools and taxes and crime and lifestyle and transportation and employers and weather and on and on and on. All of these things allow a real estate agent to get “found” online at the exact point in time they have a need for their services. This is integral as 80% of consumers will go with the first agent they come across when they have identified a need. This is the future of real estate marketing, Not tracking down and annoying consumers with direct mail and door to door and grocery cart ads, car magnets and bus stop signs and the other “stuff”. The future is helping your clients get “found” online when the consumer really needs them. If a title company can help a real estate agent increase their business – logic states that business would go back to them – doesn’t it?

To prevent the Shit from hitting the fan visit PRO-Found Marketing. “We help Professionals Get Found Online”

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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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