It’s hard to believe we’re into the summer season already. Here at FAN and ClosingSuite.com, the spring flew by. And in just the past few months, you didn’t have to look hard to find a member of our leadership team sharing their thoughts about building affiliated arrangements, RON as a Service or general strategic tips on delivering the best customer service and most efficient use of resources! Our sincere thanks to the various trade organizations (ALTA, October Research, RESPRO) and other trusted real estate entities and resources who invited our teammates to share their thoughts on a variety of industry topics over the course of several articles, webinars and conferences. We also made a little news ourselves, with our launch of our own RaaS offering in California.
We kicked off the spring a little early, and with a bang as well. Guiding title businesses through challenging markets was the topic of discussion for our CEO Aaron Davis and Title Alliance’s Jim Campbell during an October Research webinar in mid-February. If you missed Strategic Planning for 2024 in February, you can download it here.
In early March, our own Operations Manager, Andrea Somers and President and CAO Amy Gregory travelled to Houston, where they walked RESPRO One Stop attendees through the practical, operations side of building an affiliated title operation. Aaron also presented on ABAs in a separate session.
The hits kept coming in April, as Aaron joined highly regarded national attorney Trip Riley on an ALTA webinar discussing how to build scalable, compliant JV title operations.
In April, RESPA News also reached out to Aaron and our COO, Mike LaRosa, to give a preview of their upcoming presentation about building AfBAs. They were then joined on stage by one of Florida’s largest real estate brokers, Andrew Duncan, to present that session at NS3 in late May.
Aaron stayed busy in May, as he was also among a small list of top real estate CEOs invited to attend the prestigious T3 Leadership Summit in Frisco, Texas. That attendee list included CEOs from businesses like Zillow, Costar (Homes.com), REALTOR.com, Keller Williams and more.
We also had a chance to celebrate the 10th anniversary of Paramount Title joining our network in the past few months. We talked to a few Paramount teammates to hear their thoughts about the union, 10 years later.
There won’t be a lot of time to rest for our leadership team, either. We hope you’ll tune in on Thursday, June 20 at 11am ET to hear Mike joined by expert panelists Michael Krein and Marx Sterbcow to discuss the impact of the recent buyer’s agent commission ruling and settlement. That podcast is being produced by Rexera and should be very informative.
It’s been a lot of fun (and a little bit of travel) for Aaron, Amy, Andrea and Mike to get out and not only share their thoughts on hot industry topics, but to catch up with clients, old friends and new contacts over the course of the past few months. Enjoy your summer everyone – it won’t be long before we’re saying “Bring on the fall conference season!”
Florida Governor Ron DeSantis recently announced a substantial investment of nearly $223 million in state and federal funding to expand broadband internet access throughout Florida. The funding through the Broadband Opportunity Program supports 54 projects in 33 Florida counties and promises to bring high-speed internet to over 27,000 locations.
Reliable internet access is a gateway to many opportunities today, from education and healthcare to commerce and communication. For small and rural communities in Florida, this game-changing investment provides those without broadband resources with the tools necessary to thrive in a digital age.
For homeowners, this means better access to online services, streaming entertainment and staying connected with loved ones. Remote workers enjoy the benefits of a flexible work environment without compromising productivity. High-speed internet transforms these communities into attractive destinations for professionals seeking a quieter, rural lifestyle while still maintaining their careers.
Expanding broadband access opens up new avenues for growth, allowing them to reach a wider audience, streamline operations and compete on a larger stage. For educational institutions, it means providing students with a wealth of online resources, digital learning tools and the opportunity to participate in remote learning, thereby enhancing the overall quality of education.
Governor DeSantis emphasized that this investment aims to support long-term growth for Florida's communities without the constraints of federally imposed conditions, a vision that sees beyond immediate needs, focusing on building a robust infrastructure to sustain and nurture future development.
The funding is set to support a variety of projects across the state. For instance, Southeast Arcadia will receive nearly $5 million to add 13 miles of fiber optic cable, providing high-speed internet to 497 unserved locations. Similarly, the cities of Cedar Key and Chiefland and several other communities will receive $5 million to add over 1,096 miles of fiber optic cable, benefiting 1,238 unserved locations.
This announcement builds on Governor DeSantis' earlier commitment of more than $226 million for broadband projects across 53 Florida counties, which aimed to connect more than 250,000 homes and businesses to the internet. It indicates the state's dedication to ensuring that every Floridian can access the digital world regardless of where they live.
Expanding broadband access in Florida's small and rural communities is a lifeline that promises to bring many opportunities, bridging the gap between the digital haves and have-nots. As these projects unfold, they hold the potential to transform lives, stimulate economic growth, and pave the way for a more connected and prosperous Florida.
A proposed FinCEN rule could find lenders and REALTORS looking for Certified Anti-Money Laundering Specialists (CAMS) as the preferred means of compliance. Fortunately, the FAN family is CAMS certified!
FAN received their CAMS certification in 2019 through the Association of Certified Anti-Money Laundering Specialists (ACAMS) certification program. It’s a priority to renew every few years, as well. Our own Amy Gregory (CAO/President), Jay Roberts (CTO) and Andrea Somers (Operations Manager) spearheaded the initiative for FAN, and are responsible for maintaining our certification.
CAMS is a professional credential, considered a global benchmark for professionals working in the anti-money laundering (AML) field. ACAMS is an international membership organization dedicated to providing opportunities for anti-financial crime education, best practices, and peer-to-peer networking globally.
To earn the CAMS Certification from ACAMS, professionals must pass a proctored exam. Becoming CAMS-certified distinguishes agents as an authority on AML and counterterrorist financing and enables them to better mitigate financial crime risks in the real estate transaction.
Earning the certification is particularly significant in light of the Financial Crimes Enforcement Network (FinCEN) issuance of a Notice of Proposed Rulemaking (NPRM) in February that expands the agencies Geographic Targeting Orders (GTOs).
Since 2016, FinCEN has issued GTOs for specific markets that were deemed to be rife with efforts to launder money through real estate transactions. The GTOs required that title, closing and escrow agents in specific regions report specified data for all-cash sales that exceeded a specific amount.
NPRM seeks to expand reporting requirements to the entire country and increases the amount of information that must be included when reporting.
As proposed, a transfer of residential real property would be reported only if at least one of the new owners of residential real property is a “transferee entity” or “transferee trust.” These categories are defined broadly to capture a wide variety of legal vehicles used to own property, such as limited liability companies, corporations, partnerships, and trusts. Both domestic and foreign entities and trusts would be covered by the reporting requirement.
The increased responsibility for identifying and reporting under the proposed rule makes it imperative that title agents be thoroughly trained and compliant in these increasingly complex regulations. The CAMS certification is a pathway for agents to increase their knowledge and expertise in this area.
In recent years, financial crime has been on the rise with governmental agencies increasing compliance requirements across the full spectrum of the U.S. financial industry. The CAMS Certification training outlines the key principles of money laundering, and how to prevent it.
According to ACAMS, it takes approximately four months to become certified and helps agents to not only meet AML training requirements, but to also more effectively safeguard against financial and reputational damage.
At FAN, we maintain the highest standards in providing title, escrow and closing services throughout Florida, and in addition, we are dedicated to protecting the integrity of the real estate transactions we manage. Contact us today to learn how we can help you with your next transaction.
Aaron was long an active member of his hometown (Plant City, Florida) Noon Rotary Club. In fact, he served as President a few years ago when the club set a goal of making sure all of the cars in the Plant City Police Department were outfitted with automated external defibrillators. The club had become aware of the need in 2013, when it learned that only four of the department’s 50 cars were so equipped. With police officers often being the first responders on the scene for distress calls – even ahead of EMT or fire department – these defibrillators empowered police officers to act quickly.
Defibrillators, as you might imagine, aren’t cheap. In fact, each one can cost several thousand dollars. That’s a line item more than a few municipalities are simply unable to incur. So the Plant City Noon Rotary Club stepped up. “Our club found a need within the community as it often does, and this time it was with our own Plant City Police Department,” according to Aaron. And so, the fund raising campaign began and within months, the mission was accomplished. The last of the 50 police cruisers needing a unit received that in 2015.
Now, fast forward to February, 2023, when the Rotary Club again came to the rescue, this time, under the guidance and leadership of President Shawn Jemison. When the club learned that the defib units purchased years ago had aged to the point that they could not be serviced or renewed, Jemison initiated a new drive to deliver brand new units to the PCPD. An additional funding push was initiated, and in short order, those units were renewed.
Aaron has since moved from Plant City, so he’s no longer active on a day to day basis with the Rotary Club there. However, he’s still incredibly proud of their work and supports them from afar. He recently learned that, shortly after the recent renewal of the defibrillators, a Plant City police officer used one of them to save a life on the scene. https://www.plantcityobserver.com/pcpd-officers-recognized-for-saving-lives-with-aed-equipment/
Needless to say, Aaron was humbled and grateful to hear the news. “One doesn’t do community service or help charitable causes to build a brand or gain acknowledgement – far from it,” he said. “You do it because it’s the right thing to do. It’s how we were raised – you give back to the community you come from. You help those who need help. But to get word of a tangible, life-saving result from something like this is indescribable. I’m so proud the Rotary continues to support this cause, as well as many other worthy endeavors. And I encourage folks everywhere to find out where their own communities have needs. We can all find some way to help.”
Please click here to view the BOI guidelines
In today’s real estate market, effective marketing strategies are more pivotal than ever. While some may think that a complicated market calls for a complex market strategy, Alex Adabashi, a seasoned Las Vegas real estate broker with nearly 25 years of experience, says the opposite. Below, Abadashi shares the top five most basic marketing strategies for real estate agents to stay on top of their game.
Adabashi emphasizes the importance of traditional practices like canvassing the community and holding open houses. These methods are not outdated but fundamental in forging connections between Realtors and potential buyers. Personal interactions still play a crucial role in building trust and establishing relationships that could be beneficial now or in the future.
Even doubling down on traditional strategies, you can include the most modern ones. Adabashi warns against ignoring social media platforms, noting that many buyers commence their property searches online, particularly on Google. An active and engaging social media presence helps reach a broader audience and stay relevant in the digital space.
Flexibility is key in any marketing strategy. Adabashi advises that adapting and pivoting based on audience response is essential. A one-size-fits-all approach does not work in real estate marketing; what resonates with one demographic may not work with another. Staying flexible and responsive to market trends is crucial.
Differentiation is critical in the crowded real estate market. Adabashi encourages agents to develop their unique brand, setting them apart. A distinctive brand identity can elevate an agent's career, making them memorable and preferred by clients.
Finally, Adabashi stresses the importance of being a comprehensive real estate resource to anyone in your community. Focus on important factors besides finding new clients, such as providing top-notch service, continuous learning and sincere connections to those around you. Building a reputation as a knowledgeable and reliable resource in real estate can significantly enhance an agent's credibility and client relationships.
Even in the tightest markets, focussing on the basics can improve your market drastically. Real estate agents can excel by blending traditional methods with modern digital strategies, maintaining flexibility, building a unique brand, and being a trusted resource.
The real estate market is ever-evolving, and staying ahead is crucial for real estate agents looking to thrive. As we step into 2024, the competition is tougher than ever. Here are three essential tips to help real estate agents stay relevant and successful in today's challenging market.
Reflecting on the past is a key step towards future success. Before planning for the future, review the opportunities you might have missed. What properties slipped through your fingers? What strategies did you overlook? This retrospection isn't just about pondering what could have been; it's about preparing to capitalize on similar opportunities in the coming year. Analyzing your competitors' performances can also provide invaluable insights. What worked for them? How did their strategies differ from yours? Learning from your and others' experiences in 2023 can set a solid foundation for a more successful 2024.
Social media is the linchpin of effective marketing and client engagement in the digital age, so harnessing the power of these platforms is crucial. Remember that social media isn't just a tool to showcase properties; it's a medium to demonstrate your expertise, share market insights, and build a personal brand that resonates with potential clients. Platforms like Instagram, Facebook, and LinkedIn can serve as stages to showcase your successes, offer valuable informational content, and engage directly with your audience.
While zeroing in on hot leads is a common strategy, casting a wider net in a tough market is essential. Nurturing your entire network, including those with a passing interest in the real estate market, is vital to building relationships that can benefit you. Offering them information and insights now can sow the seeds of a future client relationship tomorrow. Maintaining an inclusive approach increases your chances of finding leads in unexpected places.
Staying relevant in the real estate market in 2024 requires learning from the past, leveraging current technology, and maintaining a broad, inclusive approach to client engagement. By following these tips, real estate agents can navigate any market.
With real estate transactions at their lowest ebb since 2010, it’s time to make a consistent effort to identify new business sources and actively solicit new customers.
In addition, as sales pick up throughout 2024 and into 2025 making the effort now to embed yourself deeper into your referral system will ensure you are first in line as sales roar back.
Here are a few tactics that have proved effective at increasing new business through marketing efforts and personal outreach.
The beginning of the year is the perfect time to crank up the marketing engine for the upcoming sales season.
Let’s start with online reviews.
Hopefully, as part of your regular protocol, you ask customers to review you on social media and provide them with links to Facebook, Google and Yelp to get them started. Once you have some helpful reviews posted, make sure you maximize their effect by placing links on your website. You can also pull relevant quotes from the reviews to put in your marketing materials or place them front and center on your website.
And speaking of websites, it may be time for an upgrade. Review your website carefully to ensure your SEO is up to date and relevant information is easy to find. And remember that customers are far more likely to reach out to a company if there are names and faces on your website. Anonymous websites that offer only generic emails and phone numbers are not as effective. Short, crisply written blogs providing information on various aspects of title, escrow and closing are helpful in educating the customer about the process.
Your website and your blogs also provide an opportunity to expound upon your services, knowledge and expertise. Rather than saying you offer a “wide range of services,” write brief explanations of transactions you handle such as manufactured homes, power of attorney, probate and estate sales, commercial, short sales or REO, highlighting one area of expertise that is needed to oversee each of these special situations.
On a regular basis, review contacts who have gone dormant and reach out with an exclusive offer to get them back in the door.
And finally, ask for referrals. Create a recurring marketing effort to reach out to former customers in a personalized manner and request referrals for new buyers or sellers or real estate agents and loan officers.
The winter season is also an opportune time to bolster your connections.
Make sure you are connected to local business groups and carve out time to attend events, conferences and educational offerings in person for the purpose of networking with others in the industry. In your networking efforts, highlight unique transactions you have managed so that when those types of deals come up, you will be more likely to be considered for the title and closing services.
In addition to professional associations, connect with community groups and get involved. The local Chamber of Commerce will keep you apprised of what is happening in the business community as well as new developments coming online that may provide a major source of potential business.
Partner with complementary businesses to share information and leads, such as title agencies, home inspectors, appraisers, and surveyors.
A solid and consistent marketing approach can bring in that extra percentage of business that can have a substantial impact on your bottom line.
And remember that you also have a ready-made circle of possibilities within the Florida Agency Network. Make sure you are developing relationships across the state within the network to team up on transactions that may require your particular expertise or geographic location.
Check out this great article from Housing Wire where Aaron Davis shares his thoughts about why we’ll only be seeing more affiliated title arrangements being built this year (HINT: Done right, an ABA is a great way to capture additional revenue…under the right conditions.)"
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