The $30 million closing

Meet Michael. He’s a real estate agent for one of the top realty companies in Florida. He uses a couple of title agencies to handle his closings depending on his clients’ budgets. One day Mike was working on a huge sale. It was a $30 million condo complex with around 150 units in Miami.

His client was an important real estate investor who wanted to cash out and actually had a pretty good offer from a foreign investor. We can’t name names here but let’s call him Jake.
“Mike, I’m heading out but I need a favor. I need to know how much closing’s going to cost me along with the doc stamps. Can you give me a quick estimate? I need to see if we can put these on the buyer’s tab. Give me these numbers and we should be ready to roll. Call me as soon as you have this, buddy. You have 30 minutes before my plane leaves.”
Mike knew he was going to have to call up the title agents he does business with, however, guess what … it was Saturday morning. Jake’s plane was waiting for him on Kendall-Tamiami to leave in about 30 minutes and this deal was something he’d been working on for a year now.
What to do? Mike thought he’d go to the agencies’ websites and try to grab a cell phone number, maybe he would get lucky and get someone on the phone to send him some kind of quote. No luck. Everyone was either sleeping or at soccer practice.
Then he figured the agencies would have some kind of online calculator that would help him quickly figure out the amounts.
He only had his phone with him, as Jake caught him a bit off-guard. First agency, annoying website, not really mobile friendly, and Mike had to zoom in and out just to find his way around the website. He clicks around for a calculator, can’t find any, gets annoyed and opens another tab in his Safari.
Now he skips on to the next agency’s website.
This one, a fairly new agency with a mobile- friendly website. Phew, no more zooming. Something grabs Mike’s attention instantly. A colored icon at the bottom of the page that simply said “Get A Quote”. Bam! He taps on it, opens up a clean form, keys in the location, types in $30,000,000 for the sales price and, in literally 2 seconds, he gets his quote.
“Jake, it’s 225 grand. 210 of that are those doc stamps and 15 grand is the title insurance. Guess what, the agency I work with charges the buyer for all their closing services, so you don’t pay any of that. Pretty good.”
“Good job buddy. Tell them we want to close with them!”
On Monday morning, the agency opens an automated notification telling them Mike wants to talk to them about this $30 million deal. It’s the most they made in a few months. They’re stoked.
As for the first agency… They never found out about this deal. Ever. Neither did they receive any call from Mike ever again, by the way… They probably never even bothered to call Mike and see what he’s up to.
Needless to say, the winning agency knew what true customer service meant. They knew that they had to save time for their Realtors and lenders because that’s probably their most important asset.
And as such, they are spending $50 a month on TitleCapture’s Title Quote Calculator, you know … that little “Get A Quote” icon on their website. That one which, in only 2 seconds, won them a $20,000 dollar profit.
Gets you thinking, doesn’t it?