Tammy Cook has been the assistant vice president and regional operations manager of Elite Title & Escrow for three and a half years.
“I manage two branch escrow offices including anything that has to do with the business, closings or staff,” she said. “I also do closings and attend Realtor events to market the company.”
BEFORE ELITE TITLE & ESCROW?
She was with the Watson & Osborne law firm for nine years.
HOW HAS HER PREVIOUS EXPERIENCE HELPED?
“I was a branch manager. Managing for so many years there has helped me become able to manage more than one branch now.”
HOW HAS THE CURRENT MARKET SITUATION AFFECTED HER BUSINESS?
“We have slowed down. We are not as busy as we were. But, we have a very wide variety of clientele including Realtors, investors, lenders and private money holders. We have a diversified clientele, so I think that has helped us stay level where we didn’t have to shut down.”
WHAT IS HER COMPANY DOING DIFFERENTLY?
Cook said they now have a Hispanic-speaking closer, Maria Rivera. “She has always worked for us, but just recently started doing closings. With the emerging market going on in Florida, I taught her to do closings to help me with the non-English speaking clients. We also have a title insurance seminar that we give for free. Bob and I come in and do a presentation teaching them what title insurance is, why you have to have it, the history of it, how to read a title commitment, how to read a title policy. It’s a class that a lot of our Realtors really enjoy.”
HOW HAS THE INDUSTRY BENEFITED FROM THE CURRENT MARKET CONDITIONS?
“With business slowing down, it is weeding out a lot of the people that aren’t up to standard who will do illegal things to get a closing and who are only in this for the money and not to help people.”
WHAT CAN REALTORS DO TO MAKE HER JOB EASIER?
Realtors need to stay in communication with her company throughout the entire process. “Sometimes the Realtor will wait until the day before closing to call. It really helps if they stay in communication with us from the time they submit the order until the time of closing. Also, make sure the contracts and purchase and sale agreements are clear and that they explain what they want to be done as far as fees and other stipulations in the contract.”
WHAT DOES SHE DO TO ENSURE A SMOOTH CLOSING?
“I communicate. I call the Realtors all the time and bug the heck out of them. I make sure we know what is going on the whole time. I teach my processors to read the contract when they first come in instead of waiting until they go to do their settlement statement. We order the title right way and don’t delay.”
COMMON PROBLEMS AT CLOSINGS?
“The buyers and sellers aren’t aware of certain things such as they are being charged for title insurance and they didn’t know it. Or, they are being charged a broker fee and didn’t know it. Most of the time it’s the buyers and sellers not being instructed of charges incurred at a closing. They should be told up front. I’ve had sellers who didn’t know they had to be out of the house on the day of closing or that they had a three-day rescission. No one told them up front. We need to make sure the consumer is informed.”
WHAT DOES SHE LIKE ABOUT THE TITLE BUSINESS?
“I like to see the consumer get the house that they want and are happy when they leave the table. I love working with first-time homebuyers as long as everything has went smooth up to that point.”
BEST ADVICE SHE’S RECEIVED FROM A CO-WORKER?
“Think before you speak. You never know who you might be talking to and everyone is a potential client.”
LESSONS LEARNED?
“Don’t take it personal. If someone is upset it’s not personal, most of the time. Be patient with them. They are taking a big step and they really just want someone to help them.”
PROFESSIONAL ORGANIZATIONS?
Northeast Florida Association of Realtors.
- by Michele Newbern Gillis