Based on the state where you live, you may be required to be licensed as a title insurance producer in order to actually work as a title sales representative. Please check with your state licensing requirements. After that issue is addressed, selling title insurance products and services is just like any other sales position. You should be knowledgable about your product, services offered, turn around time, etc. Some states like NY and NJ have state filed rates for premiums. Other states do not. In states not dictated by filed rates, you can charge your clients whatever is a "reasonable" charge for your products, including ancellary and pass through charges. Be advised though, that even in non-filed states, RESPA watch dogs all charges and how you conduct business. So no matter what, you must be familar with RESPA guidelines for settlement and title charges in your local area. Being a good salesperson means face time with your clients and lots of follow up to make sure that the rest of your staff is giving them the level of service you promised. Your book of business is your livelihood. Remember that people like doing business with people they like. Remember to over deliver and under promise. Create a good business to business network with industry partners. Title sales are very much like any other commissioned sales position (mortgage lending, real estate, etc.). You can negotiate your split of the premiums based on your production and sales levels. Based on geographic areas, and how hard you want to work, it is not unusual to see 6 figure incomes for title sales people, at least on the East and West Coasts.
New York Life and MetLife are two companies that specialize in the selling of life insurance. Prudential, AAA, Geico, and AARP also sell life insurance policies.
Selling agents are middlemen who market a whole product line or a manufacturer's entire output. They perform all the functions of wholesaling, except that they do not take title of the product.
Eastbay was started in 1980 by Richard Gering and Art Juedes, who wanted to start selling shoes. It was later sold to Woolworth, which is now simply called Foot Locker.
Selling services would be much like selling a product. Services vary but can be put here in an example. Some services could be chiropractor (health services), call center answering (B2B services), car insurance, etc. Services offer something to a customer without it being a physical product. Selling is to persuade the exchange of a service/product for currency or something of value in return.
Van Heusen has been selling shirts since 1881. Initially these were woolen shirts sold to coal miners in America. In 1921 Van Heusen patented the soft-folding collar and it was in that year they started selling the type of shirt for which they are today well known.
who pays title insurance when selling a home
You obtain title insurance from a licensed title insurance agent; I would not purchase it from a captive agent (that is, from the lender providing my loan, or from the realtor listing/selling the house).
File a claim with your title insurance underwriter.
If the title, registration, and insurance are still all in your name, you (or your insurance company) would be responsible.
In NJ you must have a title insurance producer's license in order to effect or sell title insurance. A "resident" producer's license is for someone residing (a resident) in the state of New Jersey. A "foreign" producer's license would be someone living outside of NJ, but effecting or selling title insurance. A licensed title producer can: perform title examinations, prepare title commitments/binders, give title insurance quotes, sell title insurance products/services, perform real estate closings/settlements and issue title insurance policies. Anyone receiving title insurance commissions must be licensed, including attorneys. A non-licensed person working in a title agency may perform administrative acts only that do not involve the above, which are considered "effecting and selling" title insurance. A resident producer is licensed bi-annually and required to take Continuing Education during each licensing period.
Let's start with defining title COMPANY vs title AGENCY. A title company is the actual company underwriting and insuring the title policy. Title companies then have agents who sell and negotiate title products in their behalf (think of it as equal to Allstate (the company) having the local Allstate agent) At this point in time, most title companies are also in the business of selling title products directly and in competition with their agents. However, there are more direct title agencies to obtain title insurance services from at a local level than title companies. So, the answer is yes, title companies can also be SELLING title services and products in addition to underwriting and insuring title insurance policies.
"Glenn Beck, is actually the person who has started hawking, or selling survivalist food insurance. It's basically just freeze dried food that the military and nasa uses."
Generally speaking, a title insurance producer is the same as a title insurance agent.
First American Title Insurance Company Fidelity National Financial Stewart Title Insurance Guaranty Old Republic Title Insurance Company North American Title Insurance Company Chicago Title Insurance Company
== == It goes back to the days of the Roman Empire and burial societies. Modern Life Insurance started in the 1600's in England.
Title examiners are typically employed by title insurance companies
The title company should have provided A insurance policy to you, it will have specific items that are included and excluded. You need to determine if you have A case or not. and talk to an attorney.