Five Questions About Title Industry Values
December 12, 2024
Values are the basis of how a business functions. They set you apart from the competition, make you unique and are essential to achieving your organization’s goals. ALTA unveiled the industry’s values in 2017 after listening to members for more than a year to understand the pride they take in their work protecting property rights and helping consumers close real estate transactions. The conversations served as the foundation of ALTA’s Our Values, which reflect the enduring, memorable and aspirational values of ALTA members.
The values include:
- We Lead: We are the authority on real estate transactions. We innovate for the benefit of our customers.
- We Deliver: Our customers trust us to do the right thing, the right way—before, during and after the transaction. We sweat the small stuff to assure that land transfer is accurate, swift and secure.
- We Protect: We protect the property rights of those we serve. We reduce risk so our customers have peace of mind.
A company’s values are the cornerstone of its culture. We will highlight ALTA title agency owners to showcase the importance of establishing core values to create a strong culture within their operations.
In this article, we talk with Tom Richardson, president of Michigan-based Liberty Title, who shares why ALTA’s Our Values are important for the industry and his company.
1. How do the ALTA “Our Values – We Lead, We Deliver, We Protect” reflect the core values of our Industry?
The title industry has led the entire real estate sector in adopting new technology to make consumer real estate transactions faster, more secure and transparent. We have automated the land records system, reducing filing errors and placing documents on the public record faster. We have adopted processing and communication systems that have increased efficiency and accuracy in escrow services. We have developed products like the Homeowner’s Policy that have provided consumers with protections that addressed new threats posed by criminals who have exploited the security risks in the public records system.
2. Can you describe the culture in your offices?
In our company, we refer to our colleagues as Smarter Bears. Our culture emphasizes creativity in solving problems and handling transactions with confidence. Clients must feel that they have placed their transaction with people who will get the job done efficiently and securely. We have adopted the phrase “Smarter Bear” culture because we believe that all our colleagues need to be “smarter than the average bear” to provide the service our clients need.
What are your core values?
Our Smarter Bear culture promotes three core values:
- Finding a way to say “Yes!” Our colleagues are expected to find a solution to the problems a transaction is facing. Focusing on finding solutions and exhausting all means to tackle the problem. We like to say “If we can’t close it, no one should”
- A “Smarter Bear” is ethical. Our colleagues are expected to always uphold the “spirit” of the law, putting the sanctity of the transaction before all else.
- A “Smarter Bear” understands the importance of our industry in its role defending property rights. We understand the importance of our role in helping the country maintain secure property rights.
4. How do these values and culture impact your employees?
Our Smarter Bear culture and our core values mean that our colleagues must bring their “A” game to the office every day. Documents must be complete and accurate. Problems are to be solved, not ignored or passed on to others to solve. Always seek out the advice of your colleagues if you are in doubt, but come prepared with a possible solution, not just a question. Our colleagues are expected to always be kind and empathetic with the customer, and to remember our role is to protect our clients' data, monies and ultimately, property.
5. How do these values and culture impact your customers?
Clients know that if they come to Liberty Title, we will make sure their transaction will be closed in a secure efficient manner, with title to their property delivered in the condition required by their purchase agreement or loan commitment. We want our consumers to know their information is protected. We want our Realtor and lender clients to feel assured that the transaction will close smoothly. On a broader scale, we believe our values and culture help promote creative solutions for the challenges facing the real estate industry in Metro Detroit. From the lack of marketable title in Detroit to the ever-evolving nature of real estate and wire fraud, we believe we have been leaders within our community in tackling these challenges.
Contact ALTA at 202-296-3671 or [email protected].