In this episode of Commitment Matters, Mary speaks with Tish Bush, principal at TDB Advisors: a boutique consulting firm specializing in operations management. Tish can be reached via email at: tish@tishdbush.com.
During their conversation, Tish or Mary mentioned:
- How startups are poised to disrupt the Title Industry and why everyone thinks it’s easy to do so. Even Forbes weighs in on FinTech’s entry into the Title and Settlement Industry.
- Tish spoke about Realtor.com and how it changed the decades-old model of multiple-listing agents, and standard 6% commission. Here’s an article on more ways the internet has changed real estate forever.
- Realty One joined the industry in 2005 and created a standard administration fee for their business model.
- Zilliow was founded in 2006 and is considered a tipping point of change for the industry. Learn more about the former Microsoft executives who started the company and its business model.
- Property and Casualty (P&C) operating models average higher claims ratios than Title and Settlement industry does – misleading some venture capitalists into thinking there is higher profit margin than really exists.
- It’s no secret automation is a buzz word for the Title and Settlement industry. ALTA offers this insight on the topic.
- Here’s a primer on Data Monetization in business and a look at it in the real estate sector.
- As noted, remote online notarization regulations vary from state to state. We always recommend you check out ALTA’s Digital Closing Resources for updates.
- What is Business intelligence (BI)?
- Mary wished for a photo of the old MLS books from the 1980’s…well, here it is!
- Tish mentioned several disruptors including iBuyer, which launched in 1996, Opendoor, Offerpad, HomeLight, and RedFin. After the interview was recorded Tish added a new disruptor to this list: Tempo Title.
- Mary added some thoughts about how Quicken’s Rocket Mortgage and Sophi, along with loanDepot, has changed the landscape for loan brokers and neighborhood banks.
- Pacaso.com touts fractional ownership as the modern way to own a second home.
- If you’d like to contact the Commitment Matters podcast, email podcasts@ramquest.com.
Don’t forget to subscribe, rate, and review this podcast on Apple Podcast, Spotify, or wherever you listen to podcasts, or visit RamQuest.com/podcast to download the latest episode.
Lastly, we love to see when and how you’re listening. Share our posts, or create your own and tag them: #CommitmentMattersPodcast
