Here’s the cold hard truth. Just like with any business – and title agencies are no different – only 5% stay profitable in the long run. This is not bad news, it’s just the truth of the world we’re living in. We’re all competing after all.
There is good news though. The good news is that ANY agency – and this means yours too – can be part of the 5%. Let me explain.
What is the difference between the losers and winners? There’s a pretty simple answer to this.
There is NO secret tactic, there NO secret education, NO Ivy League school that teaches you how to win, NO need for a genius or some rocket scientist leading the agency. None of that.
The secret is this: a disproportionate, relentless and undeterred focus on client and agent experience.
If you’re reading this, and I really hope you do, please understand this one thing. You are not in the closing business. You are not in the title insurance business or the escrow business.
You are in the “saving time” and “providing peace of mind” business. Both for the consumer as well as your #1 source of business, your real estate agents and lenders.
So you should focus an overwhelming amount of your time and effort on THEIR journey, THEIR experience during the transaction.
We know because we at TitleCapture
work with countless title agencies nationwide and this is what the 5% do. Plain and simple.
I know your day-to-day work is sometimes bringing you down. I know it’s hard for you to manage all those documents, coming from all places. I know it’s frustrating that you have to piece things together during a transaction. But let me tell you that, if you manage to get over the things that frustrate you – and focus more on your clients’ and agents’ frustrations, problems and concerns – you position yourself for winning in the long run.
Once you’ve decided that you want to be part of the 5% and you’ve decided that you’re going to do whatever it takes to provide massive value for your clients and agents, then you have to get over a second hurdle.
That is a habit you need to let go of. Just START doing the things that make sense from a client / agent experience perspective. There’s so many of them.
If you’re like me, before starting anything, please stop overthinking and over-worrying. Thoughts like: “What is Instagram going to do for me? What is this Facebook ads thing? There’s nothing wrong with my website, i’ve had it for 5 years and it’s just fine – nobody is going there too much anyways. What is this TitleCapture app
nonsense for my Realtors and lenders? I bring them donuts and that’s all they need.”
The truth is you need to TEST EVERYTHING. Why? Because first of all, you never know how your market reacts to certain stimuli. Besides, there are agencies out there with whom you’re competing who ARE actually testing and seeing what works and what not and who adapt and pivot.
And they are also learning a lot about how to use all these tools properly. And they win.
They don’t overthink and they don’t assume they know beforehand what works and what doesn’t.
Winning is all up to you. The tools are at your disposal. You just need to decide where your focus is going to be. Then, just take massive action and try everything. Whatever works, put more energy into that. If something doesn’t work, AND IF you actually did it correctly, drop it. If not, learn more about how to properly use it and try again.
Success is easy. We are the obstacles.