I'm always excited to see the look of pride on the face of a newly licensed title agent. As a title industry consultant, I get to read some of the most meticulously thought-out title agency business plans. Yet, I'm continually surprised at how many of those plans don’t include learning how to process and close a transaction from contract to the issuance of the final policies.
Below are five compelling reasons why newly licensed title agents must recognize the importance of title processing training as the next step in their professional journey.
1. Comprehensive Understanding as a Superpower: While the licensing process provides knowledge and foundational understanding, it does not prepare the title agent for the practical intricacies of closing a real estate transaction. Title processing training bridges this gap by equipping the agent with a comprehensive understanding of the entire transaction process, from contract to closing, disbursement, and issuing the final policies. Understanding how to navigate complex requirements while maintaining compliance and managing multiple aspects of the transaction with involved parties is a superpower only the most successful title agents possess.
2. Independence and Control: Hiring an employee to handle transactions without obtaining a comprehensive understanding of how to close a transaction may provide immediate relief, but it creates a continued dependency on the knowledge and skills of others. Title processing training empowers the title agent to understand the closing process, detect costly inaccuracies and deficiencies, and take control of a transaction when an employee is out sick, takes an emergency leave of absence, or simply resigns mid-transaction.
3. Professional Growth and Long-term Success: Investing in title processing training is an investment in a title agent’s professional development and their title agency’s long-term success. It provides the agent with the knowledge and skills to navigate the complexities of processing a transaction, enabling them to have the knowledge base required to train their team and implement agency-specific processing standards.
4. Effective Workflow Management: Title processing training goes beyond the technical aspects of the job. It empowers the agent with the tools to effectively manage their workflows and stay organized amidst the industry's high-level demands. By establishing systematic processing systems and implementing efficient workflows, the agent will enhance agency productivity while minimizing risk.
4. Competitive Edge: In an industry where reputation is paramount, obtaining title processing training sets the title agent apart from the competition. By equipping themselves with the necessary skills to efficiently and effectively close transactions, even after hiring employees to do the work, they position themselves as competent and reliable professionals. Clients and industry partners will trust in their abilities, leading to increased business opportunities and long-term success.
Title agents must embrace the opportunity to unlock their full potential and establish themselves as skilled and knowledgeable title agents. Obtaining a title agent’s license is just the beginning of a newly licensed agent’s journey. Excelling and thriving requires that agents go beyond the license and empower themselves with comprehensive understanding, independence, professional growth, effective workflow management, and a competitive edge.
Claudette Espendez is a specialized title industry consultant and licensed title agent. Her dedication to each of her client's success and her ability to identify areas for improvement and provide step-by-step practical solutions has made her a sought-after resource among real estate attorneys and title agents looking to elevate their title agencies to the next level. Inquiries may be sent to info@titleteampros.com.
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