1. Choose a business structure – Decide whether you want to operate as a sole proprietorship, partnership, LLC, or corporation.
2. Obtain Licensing Requirements – Determine what licensing and registration is required in your state to start a title company.
3. Write Your Business Plan – Create a business plan that outlines the goals and objectives of your title company and how you will achieve them.
4. Secure Financing – Research different funding options and apply for any loans or grants that may be available to help you get started.
5. Secure Quality Staff – Hire qualified and experienced employees to ensure your title company is successful.
6. Choose a Location – Pick the best location for your title company based on the local market, competition, and access to services such as escrow companies or lenders.
7. Establish Relationships With Local Real Estate Agents & Lenders – Establish relationships with local real estate agents, lenders, and other title companies to gain a better understanding of the market.
8. Advertise Your Services – Create an attractive website and use online and offline advertising to let potential customers know about your business.
9. Purchase Business Insurance – Invest in business insurance policies to protect your title company and its assets.
10. Create a Quality Control Process – Set up a quality control process to ensure that all documents are accurate and complete before they are released to the customer.
11. Invest in Technology – Make sure you have the right technology tools and software programs in place to streamline your processes and provide efficient service.