Different is Good

There are parallels that can be learned from other industries, the major one being that companies should focus on what makes them different, not on what makes them the same. Researching property and public records is a core component of the closing, but everyone does it.

Since there are practical limits to the level of automation that can be achieved, we believe the title agent should concentrate on points that will distinguish their services, address risk management, and optimize sales engagement. Investments in staff and technology should be focused on the customer and not the factory.

Rather than a general goal of automation, a good plan would start with those things that grow revenue such as closing execution, exception handling, and customer service. Then come production requirements, tasks that can be fully automated or outsourced and what must be retained for compliance or lack of alternatives.

With this focus, technology can be made to flourish and contribute to the broader strategy of creating a more variable cost model while distinguishing the agent’s unique service offering from its peers.