Does it make any difference at closing if your title company is local or national?
When it comes to choosing a company to do business with, there are few options laid out in front of you. Almost all of them (excluding Multinational for simplicity’s sake) can fit under the header of either ‘Local’ or ‘National.’ And so the decision process starts there. But the questions do not. You start wondering what the difference is between the two. Aren’t they both providing the same service? Is there even any difference at all? These questions, as with most, require more than just a one-word answer.
Each group – Local and National – provides their own benefits to their customers. National title companies, on average, will have the advantage of scale. Through sheer numbers they’ll be able to accomplish a set of tasks by using their technology and larger staffs. Their size allows them to cover a wider range of skills, eliminating the likelihood of running into a problem they can’t surpass, at least not timely. The more deals done, the more money that’s eventually made. An equation we can all understand.
Local title companies have the added benefit of knowing most (if not all) of the local players. There’s a relationship there. Each knows how the other works and what they can do to ensure a smooth, efficient process for all those involved. Oftentimes local businesses will even have much more at stake than those operating on the national level. Their successes and failures have greater ramifications, both positive and negative. They don’t have the safety net of a larger corporation to absorb a portion or two of their losses, and will work that much harder to stop any such losses from occurring in the first place.
On the customer side, choosing a local title company comes with the sense of inclusion. They’re contributing not just to a job well done, but also towards the betterment of their community. Local companies have a vested interested in the well-being of their community. They are a part of it. Their staff is a part of it. The money put into this business goes as much towards the company as it does the betterment of their neighbors.
Equity lives in the rarely occupied space between both of these worlds. While we have the reach and ability to work nationwide, we choose to embrace the aspects of a local company. We work with our community, inviting others who’ve worked with us to do the same. This is exemplified most by our continued donations and active outreach into our community. By volunteering at Amos House (a local soup kitchen) and Crossroads RI, running in multiple 5k’s, and reading to local schools. We have the freedom to specialize and work with other local professionals who would best suit any given task. Our community and the communities of other local businesses are able to see the benefits of this mindset everyday on our drive to work.
As stated before, the answer is not something that can be given in one word. But it can be given in two.
What is it that you’re looking for? If you can find the answer to that question, you might just find that the right title company was standing next door all along.
By: Equity National August 2, 2017 Title, Closing A Closer Look