Florida Agency Network and Closingsuite.com CEO Aaron Davis and Chief Operations Officer Mike LaRosa, as well as The Duncan Duo Team at LPT Realty CEO Andrew Duncan, will share their insights Day One at the National Settlement Services Summit (NS3) in Naples, Fla., on when an affiliated business arrangement (AfBA) may be the next right step for title or real estate agents, how to build the operation, and what pitfalls to avoid in today’s environment.
NS3 is being held May 21-23, at the Naples Grande Beach Resort in Naples, Fla. “Building a Lucrative AfBA” will take place on Tuesday, May 21.
“This is something FAN and Closingsuite.com have been doing, on their own and on behalf of other businesses, for a long time,” Davis and LaRosa told RESPA News in an email. “The increased demand for new AfBAs also provides an opportunity for title agents to grow into new geographic footprints and collaborate in ways we don’t see that often during refinance spikes or other, high order volume markets.”
The pair said session attendees can expect a practical look at what goes into the decision to start and build an affiliated title operation, from the title agent’s perspective as well as the real estate brokerage’s.
“Market conditions have real estate professionals, home builders, lenders and title businesses seeking new revenue streams to supplement their existing businesses,” Davis and LaRosa added. “However, building an affiliated title operation takes a lot more than deciding to do it and then waiting for the profit to roll in.”
Title agents, real estate brokers, homebuilders, or lenders who are considering an AfBA will want to label this session as a “can’t miss” on their agenda. More importantly, the pair suggested any decision maker who may think starting an AfBA is a “simple, risk-free process” should attend.
“AfBAs can be very profitable ventures, but they’re not easy to build and they require a lot more than the decision to build one to succeed,” LaRosa explained. “Not every title agent understands how an AfBA works or how to build one. Yet, it’s probably the realty, lending, and builder segments who not only might underestimate the resources required to build a legitimate AfBA, but who often don’t really understand what title agencies do.”
Davis and LaRosa said they have been attending, sponsoring, and speaking at NS3 for years and find it to be “one of the top events at which to find a wide variety of title agents” and a great place to find new clients and business partners.
“The opportunity to network and bounce ideas off of each other is fantastic, both on stage and throughout the conference,” they said. “We’re thrilled for the opportunity to do our part, and hopefully contribute information that’s useful and compelling.”
For more information on NS3 2024, including the agenda for all three days, click here. You can register for NS3 online or click here to get information on how to register offline.