Wednesday, November 09, 2011 have the power

Take a moment to read the question being posed to readers of the ALTA newsletter.  Now notice how many title insurance folks do NOT market to you directly for their business.  What does that mean to you?  It means that the real estate agent or the mortgage lenders are their perceived consumers and thus more important to these providers than YOU the real consumer, the one who pays the bill.

In order to produce a marketplace in which the actual consumer of title insurance and settlement services - YOU -  benefits, you need to use your good buying skills to force this industry to pay attention to what YOU desire - quality service, convenience and a lower price.

Until you start using the buying skills taught to you by your parents - you know, the way you buy a dishwasher or a car - you will perpetuate a real estate closing world in which attorneys, title agents, notaries, mortgage lenders and real estate agents are catered to rather than YOU.

It's YOUR transaction.  YOU have the power to create the marketplace that serves YOU.  If a whole bunch of YINZ [LOL I couldn't resist.] pressure the local market, guess what?  You all start to reap the benefits.  ;)

The other item I'd like you to notice is how many title insurance folks said they TRIED to reach out to consumers but had no results.  That's because the collective YOU aren't out there shopping.  If YOU were out there shopping YOU would find the title insurance folks who are also trying to create a more competitive marketplace.  Most of us don't like the way title insurance is sold and want to change the system but until consumers start shopping around nothing will change.  YOU have the power.

Does your company do any direct marketing to consumers? If you do, please leave a comment describing how you reach out to the consumer.
    We plan to in the near future14.71%
    We have in the past but saw no results35.29%

1 comment:

Title by Joann said...

You're right to point out that the responsibility for changing the marketing and purchasing behaviors is not just on one entity. Consumers and title insurance agencies both have room for improvement!