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Procurement Market Intelligence Report

Escrow & Title Services Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Escrow & Title Services?

What is the average price of Escrow & Title Services?

This procurement report includes pricing information to help you purchase Escrow & Title Services. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Escrow & Title Services been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Escrow & Title Services yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Escrow & Title Services?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Escrow & Title Services with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase Escrow & Title Services?

The top four providers of escrow and title services account for roughly 60.0% of total market revenue, signaling a high degree of market share concentration. These operators are large enterprises with a multitude of employees and numerous establishments located across the United States. Therefore, the top players have the necessary... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Customer Service

What does your customer service department do to encourage client renewals? How do your customer services ensure a high repeat business rate?

How have you changed your service in response to customer complaints and suggestions?

How do you handle client complaints or issues?

How many clients does each employee look after?

What systems or software do you use to manage accounts and information gathered during the project?

Supplier Size

In which states can you offer title insurance? In which states do you have offices?

How many employees would you allocate to my title research?

What size properties do you typically handle, in terms of mortgage price?

Based on your size and number of employees, what size buyers are you able to provide services to?

Competition

To remain competitive, how do you attract and retain existing clients to discourage them from switching suppliers?

As a small company, how do you compete with the reputation of large, established companies?

What strategies do you use to maintain a competitive advantage?

How do you market your services to potential clients?

What incentives do you offer long-term clients so they stay with your company?

Outsourcing & Third Parties

What services are outsourced to other companies?

How do you keep the cost of outsourcing low?

How do you select a third-party supplier and ensure their reliability?

What experience do you have with your current third-party suppliers?

How do you identify and solve errors that third-party suppliers may make?

What third-party sources or external research do you conduct to stay up to date with market risks?

Do you partner with any third parties to offer related services? If so, who do you work with and what additional services are offered?

Regulation

How do you anticipate regulation of title insurance to change over the next three years?

What are you planning on doing to mitigate the effects of regulation changes?

How has the increase in the percentage of required liability reserves affected your operations?

How have you adjusted to new regulations in the market?

What additional certifications do you have beyond what is required by regulation?

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Key elements for every RFP

What should my Escrow & Title Services RFP include?

Project Budget

Vendors should include a fee schedule outlining their prices.

Buyers should state their preferred pricing model and terms of payment.

Selection Criteria

Buyers should evaluate vendors' ability to meet their service requirements.

Buyers should evaluate vendors' experience and financial performance.

Buyers should evaluate vendors' cost proposals.

For other selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers should include the date when proposals are due and any other relevant dates (e.g. interviews) prior to the contract award.

Buyers should include the date when services begin.

Buyers should outline the length of the contract and any options for renewals.

Evaluate major factors to mitigate risk

How risky is the Escrow & Title Services supply chain?

The supply chain risk for providers of escrow and title services is low. Vendors source inputs from a number of upstream suppliers, including computer and packaged software wholesalers, copier and office equipment wholesalers, internet service providers, commercial real estate lessors and portfolio management firms. Changes in the supply chain rarely... Subscribe to learn more.

HIGH

MEDIUM

LOW