Anyone who really knows me knows that I am a movie buff. However, not many people are aware that I enjoy biopics, particularly those with an underdog storyline. Films like Moneyball, released in 2011, starring Brad Pitt as Billy Beane, the general manager of the Oakland Athletics baseball team.
The movie tells the story of how Beane, frustrated with a limited budget, tries to build a winning team despite the odds being against him. Beane meets Peter Brand, an economist who developed a method for identifying undervalued players using statistical analysis.
Beane and Brand begin to use this method, known as "sabermetrics," to build a new team. They recruit players who have strengths that are overlooked by other teams and undervalued by traditional scouting methods.
The team initially struggles and faces criticism, but they eventually go on to break the record for the longest winning streak in American League history, with a 20-game winning streak, and they accomplish this on what is considered a shoestring budget in major league baseball.
You don’t have to be a baseball enthusiast to appreciate what Beane and Brand accomplished with sabermetrics. You also don’t have to be a statistical analyst to understand how the concept of sabermetrics can help identify employees in the title industry who are undervalued and have the potential to help a title agency grow and succeed.
Most title agency owners approach hiring with a "one size fits all" mentality. Assuming that one employee will be able to excellently execute all of the tasks related to closing a transaction is not only unrealistic but leads to friction and a high employee turnover.
For example, some employees will be good at communicating with clients and keeping them informed about the progress of their transactions. Others will be better at the technical aspects of clearing title. Similarly, one employee may be good at conducting a closing, while another will be better at post-closing a transaction.
By analyzing and identifying the strengths and weaknesses of each employee and assigning their tasks accordingly, it is possible to build a well-rounded team. This will not only improve the efficiency of the agency but also enhance the quality of service provided to clients.
By taking the approach of sabermetrics, real estate attorneys and title agents can position their agencies for long-term success while building a winning team.
Claudette Espendez is a specialized title industry consultant. 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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