However, electronic commerce is one of the major areas of opportunity being opened up by the pervasiveness of the Internet. A virtual title office can be had for a fixed monthly fee and those areas of business with high volume transactions are primed for Internet oriented automation. Before we look at costs, let us look at some of the factors that make successful Web commerce practices. Choose your market strategy and stick to it. Create customer demand.
Many title companies feel that it makes no sense to market directly to the home buying consumer.
It is short-sighted to ignore a market source that can foster market share. Remember the title product that you sell is relatively homogenous. It is a commodities business. It is a buyer-powered market. Offer discounts for on-line services that do not require labor intensive interactions.