Title company outsourcing is one huge advantage that the World Wide Web has provided to today’s independent mortgage professionals and small businesses. Neither of these entities is prepared to take on the expense of adding an in house title department, but title company outsourcing gives them the benefits of having such a department at a fraction of the cost.
No Hiring Costs
By the time you pay for your job board postings, spend your own or an employees man hours screening and contacting potential employees, and finally make an offer, you will have spent over $2500 in time and money combined. Once an employee starts work, you must begin to pay employment taxes and unemployment insurance, and this does not count the hours and expense of training and necessary equipment for the individual to get the job done. If you take the time to do the math (cost of hire calculators are available online), the overall expense will prove staggering. Title company outsourcing does also carry a cost, but you will find that you can have quite a few titles processed before you will have spent the what the hire of a single employee will cost.
Round the Clock Service
When you utilize a contract firm, you can enjoy something that an in house employee cannot offer: round the clock service. Title company outsourcing provides you with an entire team of expert professionals, so when one shift ends, someone else can take over the research and preparation started by someone else. These are knowledgeable professionals, and the end result you will receive from title company outsourcing will be seamless, accurate work returned surprisingly quickly, sometimes even overnight.
State of the Art Equipment
When you look at the cost of hiring a permanent employee, you must consider the equipment necessary. This means everything from a desk and chair to a quality computer and the necessary software to get the job done. If you utilize an independent or small business title company in a brick and mortar setting, they will have no choice but to include the costs of these items in their cost to you. However, title company outsourcing to a reliable online firm will give you the ability to forego these extra charges because a solid company will have a large team of processors and a bulk of business that will help to disseminate that expense. In addition, because this is all the work they do, you can be assured that they are using hardware and software designed specifically for this kind of work, and the employees are well trained in their use.
What to Look for in a Contract Company
There are many resources available online for Title Company Outsourcing, so it is necessary to do a little research beforehand. The first step is to weed out the scams. A real title company will list a physical address on their site as well as a phone number; they will have affiliations with the Better Business Bureau or Dunn and Bradstreet. Next, you should ensure that this is the company that is right for you. Call them and see of their customer support is prompt, friendly, and knowledgeable. Find out their terms and their guarantees. Once you have found the right resource, title company outsourcing will become one of the most effective and cost efficient tools for offering prompt, quality service at a reasonable price.