How To Grow Your Title Agency
For the first time in many years, the housing market is moving at a healthy pace, and title agencies are in a strong position to plan for growth. For most small or solo agencies, making a plan for successful growth will take a shift in mindset and approach, because unless you built a scalable system from the beginning, your business is likely structured in a way that limits effective growth.
- Remove Yourself As A Choke Point – Whether you’re a solo agent or you’ve built a small agency already, chances are that it is still your knowledge and experience driving the success of your agency. As you try to grow your title agency, access to you and your knowledge quickly becomes a choke point in the agency’s workflow. Breaking up that bottleneck comes from making your knowledge readily accessible to everyone who needs it, in the form of documentation and training. You can even incorporate this into the policies and procedures you already need in order to demonstrate that you’re in compliance with ALTA Best Practices. Give your team the tools they need to work as smoothly as if you were standing next to them, even when you’re not.
- Market Your System, Not Yourself – Personal branding is a marketing technique often employed by solopreneurs and small business owners for their marketing efforts. As you start to grow your title agency, though, this type of marketing becomes less effective because, in order to win business from larger and more profitable clients, your agency needs to create an image that says, “We’re equipped to service high-volume accounts.” Instead of marketing your personal brand, build an efficient, accurate, and reliable system, then point your marketing spotlight to that system. The more you build a brand reputation for your system, the more confidence prospective clients will place in your agency.
- Use Technology Wisely – One of the biggest challenges when it comes to growing your title agency is finding the time to work on marketing and business development while keeping up on producing an increasing number of title policies. You can free up a significant amount of time for yourself and your staff by taking full advantage of technology like EasySoft Real Estate Closing Solutions. By using a relational database, the suite automatically populates any form you select from a single input source, which means you get faster completion and fewer chances for human input errors. Create custom forms to help reinforce your policies and procedures, track the chain of accountability for tasks and documents, and gather client data that can help you market later on and evaluate which accounts are most profitable. Whatever technology your agency employs, be sure to check the features and tutorials periodically so you know when new functions are added and how to use them to your best advantage.