It has happened to you before. For one of numerous reasons, a party breaches and a transaction does not close. You notify the parties and forward cancellation documents. In response, the buyer and the seller make conflicting demands to release the earnest money deposit from the escrow account.
After you request that both the buyer and the seller agree to an escrow instruction to disburse in one way or another, they will not do so. Worse, both sides intensify their demands with calls to management and threats of litigation.
Many title insurance businesses overlook Angie’s List, which means there’s less competition for visibility on the platform (for now). People who pay for an Angie’s List subscription are more likely to be in immediate need of the services. While the quantity of leads may be fewer, the quality is as good or better than other review sites.
Angie’s List provides more information about your title business operations than other platforms do, such as how much the customer paid for closing and title services and a report card that scores your agency’s responsiveness, punctuality and professionalism among other things.
Because all the members leaving reviews are paid subscribers, and only paid subscribers can read the reviews (business owners can read reviews on their own page), Angie’s List doesn’t necessarily rise to the top of a Google search. On the other hand, the audience on this site tends to be highly motivated to buy.
Online reviews are a window into your title business, and Angie’s List provides another opportunity to rack up the reviews. Studies show consumers are more likely to contact a business if it has a 5-star rating, and improving your title agency’s star rating from 3 stars to 5 stars, for example, can yield as many as 25% more clicks to your business profile.
Many title agents are reluctant to explore customer review strategies because they are afraid of negative reviews. But ignoring platforms like Angie’s List doesn’t mean the negative reviews will go away. They are still impacting your title agency’s online reputation and possibly steering prospective customers to a local competitor with better reviews.
By developing a strategy for acquiring online reviews and targeting satisfied customers, you can mitigate the risk of a negative review torpedoing your star-rating.
And by expanding your scope to include Angie’s List, you provide your title business with an additional pipeline for new customers that can potentially net you one more real estate transaction every month at a lower cost of acquisition as compared with paid advertising.]]>
The jobs market is as good as it’s ever been in the last decade, which means more jobs and fewer candidates. The title insurance business has a unique problem when it comes to recruiting new talent – no one goes to school to work in the title business; it’s something we fall into for the most part.
The talent pool is small to begin with, and to attract the best talent your title company has got to stand out to prospective employees. One way to do this is by being aware of your agency’s current online reputation and the myriad review sites out there geared toward job seekers.
Here are two platforms that should be on your radar when it comes to managing your title business’s online reputation as it relates to prospective employees.
If someone Googles your business name or “working at [your business name],” chances are good a Glassdoor business profile will pop up on the first page of search results. How does your Glassdoor profile appear in search results?
Through Glassdoor, employees of your title business are able to anonymously leave a review of what it’s like to work for your company – including insights into salary, benefits and what the interview process is like. Your HR or administrative team can provide balance on your Glassdoor profile by completing the company information, uploading a logo and sharing company updates.
Unfortunately, one disgruntled employee leaving a 1-star review can quickly torpedo a title agency’s online reputation from the standpoint of prospective employees, especially if the business owner has not taken the time to claim or complete his Glassdoor profile. Claiming your profile is a free and easy way to monitor your business’s reputation so you can attract top talent to your organization.
With over 500 million members, LinkedIn is the largest social network for professionals. Prospective employers researching a company on LinkedIn are able to see if any of their connections are connected to a business, which allows for more personal insights into what it’s like to work for a company.
While LinkedIn does not currently support a user-review feature like Glassdoor, it does provide great information in terms of visitor demographics, including industry-type, location by region, company size and seniority. Knowing this information can help you tailor your online reputation to appeal to the exact type of candidates you’re hoping to reach.
Both Glassdoor and LinkedIn allow site users to “follow” your title business, a good indicator that these folks may be interested in working in the title insurance business. Both also provide data on how users engage with the updates your title agency shares on the platforms, allowing you to refine your communication with prospective employees over time.
For homebuyers and sellers, a real estate transaction is likely an uncommon experience and they may be feeling anxious about exchanging such large sums of money. If the customer is a lender, there are always concerns of tolerance violations. And if the customer is a Realtor, settlement delays or other customer service issues may be a top concern.
Online reviews are a window into your title business. Studies show consumers are more likely to contact a business if it has a 5-star rating, and improving your title agency’s star rating from 3 stars to 5 stars, for example, can yield as many as 25% more clicks to your business profile.
Your title agency’s online reputation may be the deciding factor between whether a prospective customer reaches out to your business or contacts the competitor down the street. In today’s world, managing your business’s online reputation is essential – here are four platforms that should top your priority list.