When buying a new solution for the tech stack, title agents tend to focus on the technology itself, how it performs, the ability to integrate with existing solutions, or the potential return on investment. We’ve all “chased the demo” once or twice only to be disappointed by the technology’s performance in real life. The problem is that, once you’ve invested in something as significant as a title production system (TPS), it’s not easy to disentangle your business from the mess if the TPS doesn’t meet your needs.

Something more agents need to do during the vetting process is take a long look at the technology company itself. You can do a little digging on the company by reading reviews or studying their background and history in the industry. You can also contact current product users to inquire about their experience with the solution, but more importantly what their experience has been with the company itself in terms of training efforts, accessibility or problem solving.

Also, be sure to kick the tires on the tech provider’s plans – if any – to update and improve the software in the future. Otherwise, you may find yourself with an obsolete platform that might have been impressive a few years ago, but which isn’t able to adapt to changes in your business. Here are a few things to explore before buying to understand a tech company’s intentions for future-proofing the technology.

What future proofing is – and is not

Future proofing is not about predicting the future or about creating the most creative mousetrap. It’s about building technology that is adaptable to changing needs and resilient in the face of a shifting regulatory environment and unforeseen swings in consumer preferences or lender and real estate agent requirements. That especially includes being able to easily integrate with or otherwise work smoothly with other technologies that an agency might need in its tech stack. If your TPS isn’t working seamlessly with other key tech in your workflow, it’s the TPS that’s the problem.

Here are some other elements of future proofing to identify when you are considering investing in new technology.

Scalability

Explore the solution’s ability to meet future needs as your business expands and contracts in a changing real estate market, as well as plans you may have to expand your business through mergers and acquisitions. The ebb and flow of the real estate market and the changing dynamics of your specific market will present complex cyclical demands in managing the workflow, so make sure any solution you are interested in is scalable to meet those changing dynamics.

Accessibility

If you have multiple locations or staff who work remotely, ensure that you can easily access the solution. Cloud-based solutions offer greater accessibility and increased flexibility in how your team accomplishes their work.

Innovative design

A commitment to innovative design through the use of application programming interfaces (APIs), open standards and independent modules is a key component in future-proofing technology solutions. We can’t say it enough: interoperability is an absolute imperative in the complex world of title, escrow and closing, so establishing pathways for that reality simply cannot be overlooked. It’s quite possibly the number one mistake agents tell us they wish they’d addressed the last time they made the considerable investment in a TPS.

Client involvement

There is nothing more important in building effective solutions for the title insurance market than actively seeking and including client feedback in any planned improvements, upgrades and innovations. In selecting new tech solutions, establish how best to provide feedback on your user experience as well as suggestions you or your team may have about any aspect of the technology including set-up, training and operability.

Settlor views our customers and their trusted tech providers as partners and are deeply vested in their success. We welcome integrations, and we’re not in the business of trying to muscle solid tech solutions out of the picture. Privately funded, independently owned and operated by folks with significant title backgrounds, we are exclusively influenced by our customers’ feedback and have the ability to be highly responsive and nimble in our ongoing development and innovation. And we’re here for the long haul.