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Courting the Consumer: How to Effectively Explain Your Value
Diane Evans NTP Land Title Guarantee Company Linda Grahovec ITP IEP NTP Fidelity National Title Group Dan Mennenoh H.B. Wilkinson Title Company Wayne M. Stanley American Land Title Association
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Welcome Introductions Session Overview
Consumer Messaging Campaign Research Methodology Participant Survey Who is currently messaging to consumers? Who thinks lenders and realtors should do this? Who is overwhelmed?
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Top 5 Research Takeaways
Significant confusion exists about title insurance.
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Top 5 Research Takeaways
Early education works and is being requested.
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Top 5 Research Takeaways
“Protecting Your Investment” is the most effective message.
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Top 5 Research Takeaways
Never use clichés or vague language. Protecting the American Dream We perform an exhaustive search of public records
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Top 5 Research Takeaways
5. Do not make assumptions about customer or consumer understanding of title insurance.
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Relevant Research Results
When did you first learn about the title search?
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Relevant Research Results
How did you select your title company?
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Relevant Research Results
Majority of consumers don’t know two title insurance policies exist.
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Relevant Research Results
60% of consumers don’t recall receiving information about an owner’s title insurance policy. 50% of those that didn’t receive or weren’t sure if they received information would have liked to receive that information.
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Controlling the Real Estate Message
Education is critical Lenders, Realtors Housing Counselors, Homebuilders Stories from Focus Group Front Lines “They’re all in cahoots” Title Insurance Policy Deductible? “How does a lien come up after the fact?” “Overpriced.” “They should market themselves.”
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Regulatory Pressures NAIC takes notice
Consumer Shopping Tool Title Insurance white paper In 130 days, title insurance is labeled “optional” in front of millions of homebuyers in the United States
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Where do we go from here? ALTA Solutions
Pamphlet for title agents and closers “A Guide for Homebuyers” Sample scripts and advertisements Video products Training modules for staff Revamped Title Insurance Education eKit New training offerings Updated Homeclosing101 website
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Questions?
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Diane Evans NTP Land Title Guarantee Company devans@ltgc.com
Contact Us: Diane Evans NTP Land Title Guarantee Company Linda Grahovec ITP IEP NTP Fidelity National Title Group Dan Mennenoh H.B. Wilkinson Title Company Wayne M. Stanley American Land Title Association
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