State of The Title Industry
Five years of asking about your biggest challenges and title production best practices have led us to improve the State of the Title Industry survey continually. We’ve honed in on trends that help encapsulate the title professional’s experience of 2022. Thanks for sharing and reading.
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Below average order volume
Who is experiencing a market downturn? When reporting about their order volume, 36% of our respondents say they’re experiencing below or far below average amount of orders this year.
Juggling too much
This year a new challenge rose to the top. With a slowerpaced market, title professionals are less likely to name “Unexpected delays” as their top challenge. The top challenge shared by 46% of respondents is “Juggling too many different responsibilities.”
Rise in HOA research outsourcing
Without the ability to manufacture time, many professionals turn to outsourcing title production. The biggest area of growth we’ve seen is in homeowner’s association research. Between 2020 and 2022, there was a 68% increase in the number of respondents choosing to use a vendor instead of handling it in-house.