Liberty Title launches national referral network

Liberty Title Co. of Ann Arbor has teamed up to create the nation's first Web-based independent title agents network.

TiTan - The Independent Title Agent Network - is a cooperative effort among independent title companies from around the country to refer business to each other in the face of declining referrals from the nation's top five title underwriters. It launched in early May and became fully operational June 15.

Until recent years, the country's nine major title underwriters would refer customers to local, independent firms if they didn't have a branch presence, Tom Richardson, co-president of Liberty Title Co. said. But acquisitions and consolidations of the nine major underwriters into the current five companies changed that."The number of referrals dropped dramatically," Richardson said.

Four Michigan title companies, including Liberty Title, decided to fight back, banding together to create TiTan, which consists of a Web site and a sales staff. The other partner title companies include Greco Title in Mt. Clemens, Huron Title in Port Huron and Bell Title in Lansing.

While the concept sounds simple, it's never been offered, Richardson said: "People have talked about doing something like this, but they've never done it."

The Web-based TiTan (www.titanreferrals.com) already offers a directory of 16 locally owned title companies in four states covering 45 counties. The states include Michigan, Indiana, Ohio and Florida. Texas, Nevada, Wisconsin and California should be added by the end of summer.

Richardson said he anticipates national coverage by late 2008 with 400 to 500 companies coast to coast. So far, TiTan has pumped $50 million worth of title referrals to its members, Richardson said.

Cost to join TiTan is $500, with an additional $150 for each additional county the independent company covers.

"Title insurance has always been a fragmented business at the local level," Richardson said. "Historically, it's been county by county, and there are 83 different counties just in Michigan."

TiTan will help make finding a title company smoother. For instance, one of Liberty Title's customers may be purchasing a house in Florida and be in need of title services. Richardson can enter the TiTan system to find a referral.

In Washtenaw County, there are branch offices for two of the majors firms - First American Title and LandAmerica Title - along with nine local title firms, Richardson said.

In addition to launching the Web site, Liberty Title recently purchased the Jackson office of Chicago Title. It will bring to nine the number of Liberty Title locations, including offices in Brighton, Detroit, Canton, Southfield, Farmington Hills, Rochester Hills and Chelsea.

"It will be our farthest west operation," Richardson said. "There's a lot of business going on in Jackson and only three title companies."

Janet Miller is a free-lance writer.

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