What Your Business Needs to Succeed in 2023

Everyone in the housing industry has been riding a rollercoaster for the past three years, with every rise and fall you could imagine. Our 2023 Housing Market Prediction blog gave you the SoftPro team's insights into the year ahead. While there are certainly challenges on the horizon, we believe the market will surprise us this year… by being boring. Instead of the twists and turns of the rollercoaster, we forecast a market ready to stabilize.

In a boring market, you must be the opposite of boring. It’s more important than ever to stand out from the crowd, so we want to show you how to do just that. Follow along for our tips on what you need to succeed in 2023.

You're an Expert. Show it!

There’s a time and place to be humble, just not when you're marketing yourself and your business. Your potential clients are looking for experts to guide them through what could be the most significant financial decision of their lives. The homebuying experience is a whirlwind, especially for first-time homebuyers. They crave information and a trusted expert who can give it to them. By showing them you've got the complex parts covered, you can lift a weight off their shoulders, making the process seamless and memorable. Here's how to show them you're in the know:

• Be a title expert
  Homebuyers crave information that can make their decisions more manageable; especially information on title insurance, which they may have never heard of before starting the home-buying process. Teach them how title insurance protects their property rights, how it protects them for the entire time they're in their dream home, how affordable it is, and how it's different from most types of insurance they're used to. This may seem like too simple of a first step for a title expert, but keep in mind that your clients may be starting from ground zero. Once you give them the basics, they’ll feel more comfortable coming back to you for more and more information.
• Be a local market expert
  Once potential clients know the basics of title insurance, they’ll be ready to dive into the specifics. They'll soon find out how different the industry can be across states and localities. Some homebuyers may be coming from out of state thinking they know the game, then are floored by the new rules. Show them you understand the local nuances of the industry inside and out. We all know nothing is based on an exact rule book. Different states have customs and standards, like these described by Fidelity, that are not expressed in the law. Remember that your clients may not know the difference! Protect them from this confusion by showing them the way around title in your town.

Content, Content, Content!

Now that you know what kind of information clients are looking for, how will they find it? The best avenue in this modern era is online content. In 2022, 96% of all buyers used online tools during their home search. Your clients are looking for the answers online, and you have to be there to provide them. Here are the best types of content you can use to make your presence visible online.

• Blogs
  A blog on your website is one of the best ways to create digestible informational content that your clients can easily find online. If you utilize keywords within blog posts that people are searching for, your content is far more likely to rank on search engines and lead prospects to your website. But you’ll need consistent content to be effective. 44% of buyers say they typically consume three to five pieces of content before engaging with a vendor, so you’ll need to post consistently to bring clients in and build their trust. Hint: Remember to add visuals to your blogs! Blogs with images get 94% more views than those without.
• Videos
  Even more powerful than blogs with images: video content. While this may take more effort than a short blog, it's worth it. Video content is 50 times more likely to drive organic search traffic to your website than plain text. A video can also make it easier for clients to connect with your business. Walk them through your office, show them where they will close on their dream home, and they’ll be much more comfortable when they are there in person to do it for real! You can also repurpose video content on your social media channels for added reach.
  
• Webinars
  A webinar is one of the most intensive pieces of content you can produce and it also goes the farthest in proving your expertise. Webinars are best for delving into a complicated or specific aspect of the title process or going over the entire process in a more detailed manner. This captive audience is there to learn. Your expertise will be evident if you provide the quality and depth of information required to make it worth it.

Tip: Not all of the content you share has to be your own! Try the 4-1-1 Rule. Share four pieces of content from other sources that might be helpful to your clients for every piece of informational content or content that directly markets your services (just don’t forget to credit your sources!)

Online Reviews

Your content marketing strategy is critical, but there’s more to gaining inbound clients. While clients are looking for new trusted sources of information, they will also trust previous clients' opinions, even people they don't know. 88% of consumers consult reviews online when discovering a local business, and 49% say they trust online reviews as much as personal recommendations. Once people read your fantastic content, they’ll look to see if previous clients back up what you say. Outside of featuring testimonials on your website and in your marketing content, there is one other essential place where you should highlight customer reviews.

Google Business Profile
*Heads up: Google rebranded this product from "Google My Business" to "Google Business Profile" in 2022.

We mentioned before that the vast majority of buyers are conducting their home searches online. Well, most of those people are also looking for reviews on your Google Business Profile. Google hosts a whopping 73% of online business reviews, with Yelp coming in second with just 6% and Facebook in third with 3%. While you should spend some time ensuring your online presence and reviews are positive on Yelp and Facebook, Google is the most important. If you don't have a profile yet, here are three steps to get started:

• Claim your profile. You can only be reviewed if you have a profile, but don't worry; it's easy and free to set up. The Google Business Profile page does an excellent job of walking you through each portion of the process.
• Fill out as much information as possible, and add photos. Your listing is only as strong as you make it. Ensure you showcase what people need to know about your business and include some pictures of your office, logo, and team.  
• Circle back to your profile about once a month. Put a reminder on your calendar to add and edit information as needed, including business hours for holidays. By updating your material consistently, you stay current for your customers.
• Once you set up your profile, it's essential to solicit positive reviews so your business appears legitimate and trusted. The quickest way to do that is to ask some of your happiest clients to give you a review! While this may seem awkward initially, your clients will be honored to help you. Ask your clients for a review at the closing table in the future, so your excellent services are fresh in their minds.

Responding to Negative Reviews

Inevitably, there will be a negative review. None of us are perfect, and some people are hard to please. Whatever the source of their frustration, the key to addressing the review is to respond to them! 53% of consumers expect responses to their negative reviews, and 45% are more likely to support businesses if they see that they've responded to negative reviews. It may be challenging, especially if you think they're unfair, but your response can be your opportunity to show your side of the story and find a way to reach an agreement. If you don't respond, new customers will only see the negativity and not your gracious attitude while handling it.

Assess Your Technology

Now that you’re showing your expertise through creative content and the positive reviews are flowing in, you’re in a prime position for clients to come to you. But is your business’s software ready to handle them? Even if you’re not looking to expand, it is essential to consistently evaluate your technology to make sure you’re not letting your operations fall behind. Here are some questions to ask yourself when assessing whether your title software stands out from your competition.

First ask some basic questions to ensure you’re at least up to date:

• Is my team entering the same information multiple times across several documents?
• Can my title production software handle accounting and business reporting as well?
• Can my software be integrated with other vendors?

Then ask some more detailed questions to see if you have software that is state-of-the-art:

• Is my team doing repetitive tasks that could be automated?
• Do I have access to the latest Remote Online Notary and eClosing tools?
• Can my team use our software while working from home?
• Is my software customizable to my needs?

Don’t Fear, SoftPro is Here

If you asked those questions and found your current software lacking, we’re here to help. SoftPro has an array of solutions to modernize your operations and make your clients (and employees!) happier than ever.

SoftPro Standard has you covered on the first set of questions. Entering the same data across dozens of forms or switching between vendors for the same project leads to something we all know we can’t afford in this business: wasting time. Even if you’re a small business, your clients and employees alike deserve software that streamlines the closing process at a minimal cost.

If you want to take your business to the next level, SoftPro Select Hosted will get you there. Our most advanced product uses the latest tools and capabilities to fully customize your experience. Tasks that used to take hours are automatic, deals that previously required you to come into the office to close can be done in the comfort of your home, and we handle all of the IT headaches. And that’s just the tip of the iceberg. Get a detailed look into all of the perks of SoftPro Select Hosted, including its automation and remote work capabilities.

All of our software solutions give you the option to use SoftPro Sign for RON and eClosings, keeping you ahead of the curve with digital closings. Plus you get access to SoftPro 360, our integrated vendor portal, with any edition of SoftPro software, which makes ordering closing and title services a breeze.

The SoftPro team's vast network of resources and partners in the title, closing, and escrow industries enable us to stay on top of the latest strategies and trends. Even in the most challenging markets, we know we serve some of the country's savviest and most flexible businesses. That's why we model our products based on our clients. Whether you're with a large company or small business, we design our customizable software solutions with you in mind.

Learn more about our software offerings: