Get Title Insurance™ Unleashes Industry-Best Online Resource for Competitive Title Insurance Quotes
August 21, 2006
Consumers nationwide are often not specifically aware of the key role that title insurance plays in the real estate transaction and many do not actively employ their right to choose a title insurer. Instead, professional third parties involved in their real estate transaction choose a title insurance provider on their behalf without comparing premiums and contrasting unregulated discretionary fees. The result: consumers often end up paying significantly more than they need to for their title costs at closing. Addressing these critical needs, Get Title Insurance, the Internet’s most complete online title insurance resource, launched today at www.gettitleinsurance.com.
Convenient and completely free, Get Title Insurance is an independent consumer service that enables consumers and real estate professionals to obtain a number of title insurance costs to compare complete quotes online from many of the nations’ top title insurance providers in their local area. Before selecting the most favorable title insurance quote, consumers have the opportunity to also view extensive professional qualifications, review consumer-provided feedback ratings for title agents nationwide, learn more about the title insurance process and conclude their successful transaction with a monetary reward from Get Title Insurance just for using the service.
“The Get Title Insurance team realized the tremendous opportunity to provide a solution that would positively impact the title insurance process for both consumers and title insurance professionals,” noted Larry Calinda, chief executive officer for Get Title Insurance. “Get Title Insurance uniquely melds the vital need for price transparency and legal competition for the consumers’ business all the while delivering improved value, expanded choice, unparalleled online convenience and communication, superior functionality and cost-effectiveness for both consumers and title insurance professionals.”
Get Title Insurance benefits consumers by providing – for the first time - a revolutionary reward model. While there is absolutely no obligation to accept any of the quotes received on Get Title Insurance, consumers who choose to do so and subsequently close on a transaction offline with a title insurance professional registered within the Get Title Insurance Preferred Provider Network will qualify to receive a monetary reward direct from Get Title Insurance. This amount equates to a healthy portion of the title insurance marketing fee made by Get Title Insurance. Also advantageous to the title insurance provider, this consumer reward solidifies the probability of increased consumer motivation to successfully close on the transaction in order to receive their monetary reimbursement.
Connecting Consumers with Title Professionals
Beginning July 31, 2006, the Get Title Insurance site will implement the latest technology to allow consumers to compare quotes as they decide upon a title insurance provider of choice. With just a click of a mouse, visitors will have access to an easy-to-use online form where they complete two simple steps providing general property and transaction information. Once the quote request is submitted to Get Title Insurance, it will instantly be distributed to title professionals in the Get Title Insurance Preferred Provider Network who are registered to receive quote requests within the requested property area.
Title insurance professionals then deliver complete quotes online via the Get Title Insurance web site. These quotes are accessible only on the consumer’s private QuotePage™. This user-friendly portion of the site allows them to be the beneficiaries of the first-ever online title insurance quote delivery functionality, enabling the customer to conveniently review the information 24 hours a day, 7 days a week. The clean, simple interface, created to simplify adoption by users, empowers consumers and real estate professionals to also learn more about the professional backgrounds of the professionals and obtain a through look at feedback they have received from other consumers who have previously used their services.
Equally beneficial to both consumers and title insurance providers, the Get Title Insurance business model is the first of its kind to allow approved title professionals in the Preferred Provider Network to respond to a consumers’ quote request directly online without limiting the amount of title providers that can receive quote requests in a given area nor the amount of fulfilled quote requests a consumer can obtain from a single quote request.
“Why limit the amount of quote requests that consumers and real estate professionals receive back from title professionals?” said Larry Calinda. “The Get Title Insurance team recognizes the joint benefit for the consumer and the title pro in responding to and receiving numerous quote requests. When you are buying a car, automotive manufacturers do not say, ‘Here are the six dealers who can give you prices.’ You are able to potentially do business with any of them which ensures you will find the best price and service.”
“With Get Title Insurance, one party is looking to have the widest array of quotes to choose from to ensure the best possible price and service while the other hopes to maximize their client base and successfully compete for motivated, timely business leads,” he added. “Limiting this connection for either the consumer or the professional will not truly bring about expanded competition, improved consumer knowledge or price clarity.”
Beneficial Features and Tools
A revolutionary consumer-feedback feature available exclusively at Get Title Insurance provides consumers with the ability to rate the professionals with which they have completed a transaction. During the quote selection process, this community feature empowers the consumer with added confidence in their decision to choose or not select a particular title professional. After the close of a successful transaction, this feature enables the consumer to have a voice. Just as important, the site’s feedback functionality ensures that title professionals have the opportunity to thoroughly market their proven professionalism and win future business thanks in part to the references they have secured within their professional profile.
The site also includes an extensive online resource of title insurance-related information, tools and industry news to assist consumers in making an educated choice about their title insurance process. Get Title Insurance’s resource library also contains answers to frequently-asked questions and title insurance-related real estate terms to help consumers feel prepared and informed as they communicate with title insurance and real estate professionals during the course of their real estate transaction. Consumers will ultimately improve their knowledge of the process and change the way they research, compare and contract and, ultimately, what they may end up paying for title insurance.
For the first time, title providers profiled on Get Title Insurance stand to benefit from a more cost-effective means of connecting with an up-and-coming segment of their customer base. By directly connecting title insurance providers with ready-to-proceed, motivated consumers and real estate professionals in their territory, Get Title Insurance reduces the time, uncertainty and expense of sales call and prospecting activities.
Consumers, real estate professionals and title insurance professionals alike are encouraged to review the site during the title insurance professional introductory sign-up period prior to the activation of consumer quote request functionality on July 31. Title insurance professionals who register to join Get Title Insurance’s Preferred Provider Network will be entered into the system free of charge until they receive their first lead. Charter member professionals opting to sign up to join Get Title Insurance before July 31 will receive a larger geographic marketing territory during the introductory trial sign-up period. Get Title Insurance offers affordable monthly fees for title professionals with three plans to choose from based on scope and business need.
Source: Get Title Insurance (www.gettitleinsurance.com/)
Contact ALTA at 202-296-3671 or [email protected].