The Closing Agent: A Look at the New Breed of Title Insurance Companies
Insurance is an industry with a long history, without much variation. This is particularly true of title insurance, where your rate is the same regardless of provider. Each title company charges a closing fee, but that’s the only financial variable. If you do your homework when choosing a title company (and many people don’t), it comes down to 3 things: the quality of services, the client experience, and the level of expertise.
That’s where industry-leading title company The Closing Agent comes in. They provide more than just title insurance and closing and escrow services; they provide other real estate law services to consumers and real estate professionals. We spoke with Darryll Clark, VP of Operations & Finance at The Closing Agent, to discuss employee engagement, technology-based advantages like Updater, and the choice most clients don’t know they have.
A title company backed by lawyers
Where all title companies provide title insurance services, most don’t offer other relevant real estate services. At best, they may refer you to a law firm. Not so with The Closing Agent though. The Orlando-based company provides services that extend far beyond those of a traditional title company. When asked what it means to be a title company “backed by lawyers,” Darryll explains, “We’re powered by a law firm. It means that when our clients or agents have problems in the process, there’s a team of real estate attorneys that know how to guide parties toward a solution so that the transaction can close. We assist with drafting language for special terms and finding solutions when conflicts arise. We also can perform ancillary services that traditional title companies can’t, like drafting powers of attorney, notes and mortgages, and corrective instruments when necessary to clear title.”
For a long time, the title company and law firm ran as entirely separate businesses, but with the economic downturn some years ago, it made sense to combine them. And now The Closing Agent offers something other title companies can’t — a one-stop shop for title insurance and real estate services. That means everything from real estate closings to bankruptcy, foreclosure defense, and beyond. Darryll says, “Clients don’t necessarily understand that providers aren’t all same; you have a choice. As one of the oldest independent title insurance agencies in Central Florida, we have experience with every type of real estate transaction. The question I’d ask is: Do you know who you’re closing with?”
Prioritizing learning and development
When asked about motivating and engaging the team, Darryll says, “What keeps everyone coming to work is the fact that we work for an innovative company.” Having spent 13 years with the company, Darryll is a veteran not only in title insurance, but also in learning and development. The Closing Agent’s entire team is familiar with finding new and interesting ways of doing business in a legacy industry.
Hiring the right team is critical to delivering a remarkable experience and The Closing Agent carefully recruits talented industry professionals. Part of The Closing Agent’s success comes from their dedication to evolving their team’s skills. They have a full-time training and development team; most companies don’t. And every member of their team is rigorously vetted because, as Darryll tells us, simply having the right degrees and certifications isn’t enough; you have to be able to provide great experiences for clients.
Finding technological advantages
Because The Closing Agent isn’t your typical title company, they take a progressive approach to improving the client experience. Their partnership with Updater allows them to give end-to-end moving support to clients — support beyond everyday insurance and real estate services. Darryll says, “As innovators, we like to think outside of the box. We’re always looking for technology-based advantages to help our clients have a better experience. Updater does this — everything from connecting utilities to forwarding mail and notifying vendors of your new address. It’s a one-stop moving solution for clients.” By adopting Updater, The Closing Agent provides even greater support and stays ahead of the competition.