2016 is an exciting year in the real estate market. Cities that you never would have thought of continue to attract a lot of people. These cities are offering better value propositions than the gateway cities. According to a study put out by PWC, places like Nashville, Charlotte, Indianapolis, Louisville, Portland, Austin, Raleigh, Durham present a great opportunity for real estate on the “offense”, while the traditional “big six” markets offer plenty of “defensive” assets for investors to protect their money. All in all, it’s an exciting market, a solid one, very well balanced.
It should be a market that provides with plenty of opportunity for title agencies. And it does! However, some agencies catch all the fish, while others squander for leftovers, so to speak, and are threatened to go bust every month.
So here are some of the reasons why we feel that many agencies are missing out on many great deals. If you find yourself in any of these situations, don’t despair, just do something about it.
Reason #1: You’re not visible enough
Very few agents, be it Realtors or Lenders know you. This is really NOT the time to say “Social media? Who case about that?” or “My agents don’t spend their time on LikedIn, Twitter or Facebook, why bother?”. Cause if you do that… that’s the problem right there. How would they get to know you? Where would they learn about you? Just be where their attention is.
Reason #2: You’re not addressing your agents’ concerns
Ok, so you are somewhat visible. You are “present” on social media, but what are you TALKING about? One of your employee’s birthday? Really? Does anyone care about that? Nope. Start talking about what really matters to your Realtors or Lenders. Address their fears, address the things they’re anticipating, showcase people they trust and admire and BECOME one by putting out great advice and “how to”s. Find out what brings THEM joy, what they’re ecstatic about.
Reason #3: Not using technology to gain a competitive edge
Face it. Everything around us is changing because of technology. We are living the second industrial revolution, yet you still insist on doing things the old way (pen and paper, Excel and email). Guess what? Everyone is doing that and if you want to grow head and shoulders above the competition you need to do things differently.
And you know what? Your agents don’t care about excuses like “Oh, but what about TRID. I can’t do that because I’m afraid it’s not going to be compliant…” Do your homework and take fear OUT of the equation. Be certain. You’ll find that you’re not all that constrained as you thought.
Do the work!