LLL was excited to chat with Alex Dunton, Executive Vice President of National Sales at Priority Title and Escrow. We talked all things title insurance in today’s tech-driven market and how title insurance is one of the most important parts of the lending process.
Alex has been in the title industry for 13 years. Nowadays, working on the national side of sales, he enjoys traveling all over the country. He was one of the first 20 employees at Priority Title and Escrow, a company that now has over 400 employees.
Of course, Alex has to chalk that growth up to sales. Priotity has the right people in the right places, including a fantastic operations team. How do you differentiate yourself? From one title agent to another, rates aren’t that different, 30-year mortgages aren’t that different. How do you compete? Tools, technology, and partnerships are key. Title agents sell the exact same product, and fees are standardized state to state. Using tech to generate instant quotes, offering exceptional customer service, and picking up the phone.
Alex spends a lot of time with/ loan officers and mortgage offices doing Q&As and offering courses. Education and community-building important. Especially given the need to push for the importance of title insurance.
Jim recounts a first-time homebuyer course he recently attended. When the instructor got to title insurance, he just said, “This is the most important part of buying a home,” and moved on. And yet when Alex attends first-time homebuyer courses, the instructor often gives him the last ten minutes of a four-hour session.
Shifting to the purchase market, how are you seeing lenders take advantage of that? How are you as a company looking at this new normal? For Alex, despite the changes in the market, the core of his practices haven’t: Keep relationships strong. Keep doing good business.