Considering expanding into a joint venture title agency?

Here's a smart move for broker/owners or team leaders handling 150+ buyer transactions annually!  Follow these 11 simple steps:

1. Connect with a reputable title and settlement agency, ensuring top-notch services in your market.

2. Agree on a name for your JV title agency and submit for state approval.

3. Review the operating agreement with your attorney and accountant, clarifying operations, profit sharing, and tax responsibilities.

4. File LLC registration with the State Department of Treasury.

5. Obtain your employer identification number from IRS.gov.

6. Open business and operating escrow accounts with a title service-friendly bank.

7. Invest in accounting and title production software for compliance and financial management.

8. Apply for a title agency producer's license, noting background check requirements for 10% owners.

9. Secure professional liability insurance to safeguard against errors and omissions.

10. Connect with a title insurance underwriter, negotiating an appointment agreement.

11. Establish an online presence via website, Google Places, and social media to announce your new agency.

Congratulations! With these steps, you're poised to launch your new title agency successfully!

If you're interested in partnering your Joint Venture Title Company with ClosePoint USA, click here to get started.