Start a Title Company FAQ's
Why would I want to start a title company?
Thousands of individuals have been earning six-figure salaries as owners of title companies. The barriers to entry are fairly low, there are minimal start-up costs, the industry is extremely rewarding and challenging, and there are many qualified title professionals everywhere you can employ. When operated correctly, owning a title agency can be fun and will allow you to utilize skills you possess in many different areas, such as management, marketing, negotiating, technology, interpersonal relationship and many other fields.
In light of the current real estate market, is this a good time to start a title company?
Bear in mind that a title company can be very profitable handling residential or commercial refinance or purchase transactions. Even in down markets, a properly diversified title agency can be profitable and insulated from major swings in the real estate market based on the ability of their owners to anticipate trends and manage their agencies accordingly. In fact, interest rates are currently at record lows, which are causing thousands of people to refinance their current mortgages every day. Additionally, it is important to note that a title company can be very profitable even with low volume.
Do I need prior title experience?
In most states there are no minimum experience requirements. Oftentimes, you merely are required to take a class, pass an examination; traditionally these examinations have high passage rates. We can help you to locate the best classes to take and we can also help you locate individuals who can assist you as you prepare to take your exam. Each state has an application that must be completed before licensure is granted. We will show you what information you need to complete, help you answer any questions you may not understand, and show you where to send in your application to facilitate the licensing process.
Do I need to be an Attorney?
The vast majority of states do not require you to be an attorney to own or operate a title agency. Only a handful of states require an attorney to be involved in some parts of the transaction, but in most cases that work can be outsourced while you still maintain control over the file. We can provide you with a list of the states that require attorney involvement, inform you precisely as to the level of involvement necessary, and we can recommend reputable attorneys you can work with in any state.
How much do your services cost?
We are generally willing to negotiate our fees to make sure our services are affordable to you. To allow this program to be affordable to all who are interested, we are willing to offer various fee structures and packages. Generally, we can provide you with the advice and guidance you need to start your title company for a very small investment. Our fees will depend largely on your experience and the amount of our time you will require. Some of out clients require assistance with every step of the process, while others may have a greater level of experience in the industry and may only have a couple questions for us as they set up their title agency.
Why would you want to teach others what you do, essentially creating added competition for yourself?
Good question! The answer, however, is much simpler then you would think. We have been approached for years by friends and associates who wanted to get into the title industry. During this time we have been offering our professional know-how, advice and valuable time for free. We have become very good at giving out this professional advice, and many of our friends and acquaintances are enjoying their success as a result of our guidance. This led us to the natural decision to offer our services to professionals nationwide.
We have been in this business long enough to become an established company, allowing us to be secure with any additional competition. We have made a comfortable living in the title industry for over 3 decades and, as a result, we are comfortable with the volume of transactions we handle. We have been doing business with our existing clientele for several years, and our staff consists of the same core group of experienced title professionals we have employed for years. Our knowledge and ability to do business on local, regional and national levels has allowed us to continue to thrive regardless of the volatility of market conditions. We strongly believe there is certainly enough business to go around for everyone to succeed.
What type of guarantees do you offer?
We are positive that you will be very satisfied with the amount of guidance we will provide to you as you set up and operate you title company. As with any consulting arrangement, our knowledge and experience have certain cost components involved, and therefore we can only guarantee that we will provide you with the tools required to become successful in the industry. Our reputation is our business; we want our clients to be happy about the services they receive.
How to get started?
Complete the confidential online form on our website and we will respond immediately. We may call you within several minutes or we may email you with a follow-up question. In any event, we will generally respond to you on the same day you contact us. As you will see when you review our form, we do not require much information from you; we merely request that you provide us with your name, address and phone number, all of which will remain confidential.
Are there any disclaimers you want me to know about?
Yes. We want you to make sure you are aware that we are not offering legal advice to you in any manner. Rather, the guidance and support we offer is based on our experience and knowledge of starting and operating numerous title agencies. We strongly suggest that you consult with an attorney before taking any actions related to starting or operating any business, especially a title agency, as the title industry is highly regulated. We also suggest that you consult with a CPA and any other applicable business, insurance and legal advisors before taking any steps involving beginning your business.