Unlike most of the service businesses out there, title companies need to offer value to at least two distinct categories of clients ... at the same time. To make matters worse, the level of service is the ONLY driver of growth, so making everyone happy is really the only option.
I hear this a lot... "your customer is king". This is a cringe-worthy statement for a title company employee for a few reasons, but one of the most important ones is simply that the "customer" for a title company is actually somewhat of a vague term.
On one hand, you have the real estate agents and lenders. They are definitely customers. And then, you have the homebuyers and sellers. They're customers too.
The key to growth is offering outstanding customer experience. The kind of customer experience that "wows" them. And to achieve that level of customer experience, any business needs to figure out what customers expect of that business.
In a title company's case, you have to understand the needs and expectations of the "consumer" - the buyer or seller - and also the needs of the "agent" - the realtor or lender. And they don't have the same needs, which is where it really gets tough.
When your real estate agents and lenders decide to close with your title company, you essentially become an integral part of their own customer experience towards their buyers and sellers. So, in a way, you have a fiduciary responsibility towards them. You are now both actors in a play that simply cannot be mediocre or you'll both lose.
They vouched for you, so everything you do, from the way you communicate, handle issues, keep the consumers in the loop, is going to affect them first and foremost.
Besides what you actually do, there's also the way you "enable" them to offer a great experience. Training them and giving them the tools they need to use on the daily is also key.
One of the reasons why more than 1000 successful title companies nationwide have signed up with TitleCapture is that our branded estimates platform is literally the best way for a realtor or lender to generate an estimate. And when you, as a title company, are offering your agents this tool, saving them so much time, you're really saying "Hey, I care for you. Let me help make your life easier!".
And that goes a really long way in driving more referrals to your title company.
When it comes to buyers and sellers, you really need to understand their mindset.
Many of them are going through the process of buying a home for the first time. Many of them don't know the details and intricacies of the closing process, and may not even have the mental capacity of understanding those details. Quite honestly, many of your agents (realtors and lenders) are in the same boat.
Nobody wants to hear about the issues. Nobody wants to hear the details. Everyone simply expects you, as their title company, to "just get it done"... fast.
The moment your title company is able to figure out the experience it provides to the consumer AND the experience it provides to the agent, you won. You're ahead of the pack and likely to stay there for a very long time.
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