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Longtime real estate title executive Aaron Davis senses a big shift coming in his industry, and he's determined to get in front of it.
“There are two guys, and their names are Dodd and Frank,” Davis quips, referring to 2010 federal financial reform legislation. “I've been in this business for 20 years, and the changes coming will change the landscape of the title business and the way business is done.”
Davis is president and CEO of Plant City-based HT Family of Companies, which encompasses five separate title agency brands with 15 locations across the Tampa region. Davis' answer to coming regulatory changes is the Florida Agency Network.
The network, he says, is an umbrella organization of title companies with 25 locations statewide that together have the wherewithal and scale to do business comfortably with the biggest banks. The Florida Agency Network is a partnership between Davis, title attorney Paul Krasker and Jon Weber with West Palm Beach-based Title Management LLC. Title Management LLC operates several title agency brands on Florida's east coast, including Trident Title.
The Florida Agency Network is made up of more than 200 employees, including four IT professionals and four title attorneys. In the Florida real estate title industry, made up mostly of mom-and-pop firms, that's some serious heft. Davis, for example, citing data from real estate analytics firm CoreLogic, says 70% of the 1,700 registered title agencies in Florida do less than 30 transactions a month. The Florida Agency Network, by comparison, can handle at least 1,000 transactions a month.
Davis and Weber will be the statewide directors of business development for the network. Davis says he hopes to gain new clients but also bring in more firms to the network in the near future.
“The only way anyone can survive and grow in this market is to join forces,” Davis tells Coffee Talk. “I'm excited that all three partners for the Florida Agency Network share this vision.”
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