During the ALTA® Annual Convention in Hawaii, the ALTA® Board of Governors approved a strategic plan for the years 2001-2003. The vision, mission, and goals were developed in several meetings, with the ALTA® Board of Governors, and ALTA® staff. Bruce Butterfield of the Forbes Group served as the facilitator.
What is most interesting is that the Board has approved expanding ALTA® to new groups also in the real estate industry. These new groups could become members, or customers of our products and potential services. This means that ALTA® needs to broaden the scope of products and services we offer to attract these new audiences. To begin this process, ALTA® will conduct an industry market research survey, focus groups, and one-on-one interviews with members and potential members/customers. The outcome of the research will determine future products such as distance learning, new publications, expanded sessions at conventions, and Web-based forums. This is a forward-thinking approach, specifically with the future of ALTA® in mind.
Here are the vision, mission, and goals and objectives for the new strategic plan. I have not listed each strategy we will use to meet these goals and objectives, but I’d be happy to provide you with a full copy of the strategic plan if you would like.
ALTA® will serve all providers supporting the real property transaction, focus on their common issues, and prepare them to be successful in a changing marketplace.
The mission of ALTA® is to improve the skills and knowledge of providers in the real property transaction, effectively advocate member concerns, and standardize products for industry use.
Goal 1: Improve providers’ skills through education and training.
Offer in-person educational opportunities in 2001, 2002, 2003
Expand access for title professionals to technology, marketing, sales, management, and general industry training by 2001
Offer distance learning opportunities in 2001, 2002, 2003
Add educational offerings for one new nontitle or nontraditional ALTA® market each year in 2001, 2002, 2003
Goal 2: Create and exchange information and knowledge critical to providers
Collect and analyze operational, financial, state regulatory, and claims bench marking data by 2003
Create Web-based forums by 2001
Disseminate information to providers that is important to their success in 2001, 2002, 2003
Goal 3: Effectively advocate member concerns
Develop a regular issues identification and prioritization process by June 2001
Improve industry and ALTA® rapport with Congress, federal, and state regulatory agencies in 2001, 2002, 2003
Integrate federal/state legislative and regulatory programs by December 2001
Identify feasibility of government affairs representation of underserved markets including tax service, flood insurance, and foreclosure by December 2001
Goal 4: Develop standardized products and processes to facilitate the real property transaction
Help develop standards for electronic communication between the title industry and other participants in the real property transaction process in 2001, 2002, 2003
Participate with primary and secondary market representatives in development of a loan policy that responds to the market needs in 2001, 2002, 2003
Goal 1: Improve understanding of the value of the association among its members and customers
Create a new identity for the association by 2003
Change the association’s organizational structure to facilitate participation by nontitle professionals
Assist international real estate interests seeking consulting or land records management services in identifying ALTA® member companies with appropriate expertise and provide contact information
Goal 2: Improve understanding of the value of closing and title insurance products among customers and consumer audiences
Create a PR program targeted to lenders, Realtors and builders by 2003
Create a targeted PR program for consumers by 2003
Goal 3: Ensure that the association has the financial and human resources to reach its goals
Analyze staff composition to determine if we have the correct mix to implement the strategic plan by 2001
Analyze all revenue sources to look at ways to enhance the nondues revenue in 2001, 2002, 2003
As you can see from this outline of the plan's goals and objectives, another important component is making certain ALTA® is on the technological cutting edge. This includes: expansion of the functionality of our Web site; delivery of many of our educational offerings on the Web, CD-ROM, phone, and other distance-learning mechanisms; and, expanded use of e-mail and list serves both to inform our members and create a sense of "electronic community."
ALTA® looks forward to the challenges set forth in this strategic plan, and the opportunity to sculpt the association to succeed in the future.
James R. Maher is executive vice president of ALTA®. He can be reached at email@example.com or 1-800-787-ALTA®.