DataTrace, which currently operates more than 1,800 title plants in the U.S., said the granularity of its data can help identify tenants ready to buy, empty nesters and fix-and-flip investors.
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Title insurance companies are helping real estate agents and mortgage originators repurpose their extremely granular data to generate leads including renters ready to buy, empty nesters and fix-and-flip investments, the largest provider of title data in the U.S. says By.
Data Trace Information Services LLC, a subsidiary of First American Financial say on tuesday The company currently operates more than 1,800 title facilities in the United States and has added more than 1,100 title facilities since 2022.
DataTrace said it has not only expanded but also deepened its coverage of owned factories as part of a multi-year plan to leverage the company’s proprietary artificial intelligence and automation technology.
In Florida, for example, DataTrace has expanded its historical depth of authorized plants in eight counties, with coverage dating back 30 years, including Charlotte County, DeSoto County, Hendry County, Hernan County Multiple, Highland, Martin, Okeechobee and Sumter counties.
Robert Gate
“Our continued investment in property plant data and automation technology demonstrates our commitment to helping our customers grow and become more efficient while providing the most complete and in-depth data in the country,” DataTrace President Robert Karraa said in a statement.
Last fall, DataTrace increased the depth and breadth of its research Texas coverage Six geographically indexed title plants were added to the Austin metro market, including Travis, Caldwell, Burnett, Llano, Williamson and Hays counties.
The company claims that DataTrace provides title history information, property tax assessment and payment data, document images and property profiles for 47 U.S. states, making it “the broadest and most comprehensive title information system.”
Of particular interest to real estate agents and mortgage originators, in March, DataTrace announced the addition of new search and automated listing-building capabilities to the company’s database. TitleFlex Real Estate Data Platform.
These new capabilities enable title companies using TitleFlex to generate more effective prospecting lists for their real estate and loan clients, identifying property owners who may be considering buying or selling real estate.
DataTrace said TitleFlex now provides title companies with access to pre-defined professional searches, allowing them to build custom prospect lists from more than 150 million residential properties.
Tucker Rails
“Title companies rely on lenders and real estate agents for referrals, and we’re seeing them get creative in supporting these partners, closing deals and building deeper relationships,” said VP of Sales at DataTrace Tucker Riles say in one January Blog Posts.
“For example, title brokers are working with their real estate clients to use ‘farming’ tactics to identify prospects based on personal characteristics that indicate a propensity to buy or sell, even those who may not yet be in the market,” Ryals wrote. “This includes renters who may be purchasing, investors seeking fix-and-flip opportunities, older empty-nesters who are prime candidates for downsizing, or homeowners with significant equity in an aging home in need of updating.”
The granularity of TitleFlex data, he said, “is exceptional and allows real estate agents and lenders, as well as the title companies that represent them, to generate highly targeted listings to nurture and grow business.”
TitleFlex’s pre-defined, targeted searches provide a baseline that users can customize with their own filters.
“For example, a real estate agent might start with a general empty nest listing and then narrow it down to specific communities or apartment developments where they have had recent success,” Ryles said.
When providing such services to real estate agents and lenders, title companies must be careful to comply with the federal Real Estate Settlement Procedures Act (RESPA) and similar regulations in many states designed to prevent kickbacks from being paid in exchange for business.
For example, in 2021, First American Title Co. agreed to pay a $1 million fine to California regulators to resolve allegations that the company’s marketing representatives provided illegal benefits to real estate agents, including sales coaching and busing Caravan to market the property.
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