Market share reports are created by extracting specific information from recorded documents. While the exact information a report contains varies by requestor, most title market share reports contain:
- data about the number and type of recordings in the county
- data about recordings by title company and by lender
- data about the dollar value of transactions each title agency closed with the selected lenders
- calculation of the percentages of market share on a monthly basis
- comparative graph presentation of the mortgage transaction data of each of the title agency and lender
- the trends of lender activity in a particular county/region
- data summary of the increase/decrease of market share and confirmation of the current market conditions of the industry in a particular region
Market share reports allow industry participants to learn how well they are doing, what segment/s of the market they are addressing well, and what segments are lagging.
For example, a title company could be doing well in the refinance segment but lagging in the commercial segment. This could be due to their business plan (e.g. they don’t want to be in the commercial area) or because they have lost market share to competitors – perhaps recently losing a senior escrow officer or sales person, or because a new competitor has entered the market.
Information utilities like Core Logic provide market share reports for the larger counties, but often do not address smaller markets.
HDEP International creates market share reports for customers by extracting information from the recorded documents. We can create these reports as a part of the title plant that we are indexing for the customer; or by querying the recorded documents in the county office.
- HDEP International’s customers use the market share reports we prepare for their owners and board of director meetings, making it easier for decision makers of the company to review the report as a guide to strategic planning.
- HDEP International’s customers use the reports to refine their business plans and decide if their marketing and sales activities require additional funding (and where the funding should be directed) or better define opportunities in areas where their companies are not active.
- Market share reports enable HDEP International’s customers to quickly review their data month to month to develop business strategies.
If you would like to know more about market share reports or any of HDEP’s title production services, please contact us.