After originating mortgages in California for 22 years, I returned to school and have now made the leap to an account manager position for White Ink Studio, a web design firm here in California.  One of the first things I recognized about my new field is how we might solve some of the business challenges of my previous field.

One of the first glaring opportunities I have uncovered is the major limitation now imposed upon Title Insurance Representatives here in California by the recently enacted Senate Bill 133.

The main thrust of SB133 is to license Title Representatives, and to reign in the practice of “buying” title business with offers of food, entertainment, office equipment, and other goodies.  I must admit I enjoyed the ball game, or concert tickets that I was plied with from time to time, but I really do agree that the selection of a title insurance vendor should be based on the needs of the consumer instead.

Title insurance is a critical requirement and major expense in most every real estate transaction in California yet buyers and sellers are usually happy to allow the Realtor or lender to select a Title Insurance Company for them.  This did create a scenario where the selection of a title insurance company may not have always been based on the best interests of the consumer.  All too often the perquisites offered to the agents involved by representatives of the major insurance vendors figured into the decision.  

The problem that I see with SB133 is that the wording seems vague. An honest, hard working title rep. trying to build a business relationship with an agent, and attempting to separate him or herself from the competition, may feel they have few options available to actively pursue that goal. Per the following excerpt,  SB133 expressly allows only the following:

(1) Promotional items with a permanently affixed company logo of the underwritten title company, title insurer, or controlled Escrow Company, with a value of not more than ten dollars ($10) each. “Promotional item” does not include a gift certificate, gift card, or other item that has a specific monetary value on its face, or that may be exchanged for any other item having a specific monetary value.

Or

(2) Furnishing education or educational materials exclusively related to the business of title insurance for a person if continuing education credits are not provided.

Most agents I know already have plenty of Title Company coffee mugs, so this pretty much leaves educational information as the only remaining business building tool.  That’s where I come in.  What better way for a Title Company to disseminate valuable educational material than to develop a web based “Information Machine.”  The creative team at White Ink Studio and I are already putting our heads together to solve the SB133 challenge for the hard working Title Reps. in my neighborhood.   Would you like to be part of the solution?

Sincerely,

Bill Fletcher
(949) 813 3861
www.WhiteInkStudio.com