One trait I have observed among the most successful investors, is they all have a keen ability to find scarcity and exploit its opportunities. In commercial real estate, title insurance is one of those less talked about areas. However, it’s $15 billion industry is a critical component of real estate transactions: that is why today’s guest is Jarett Fein. He has made his mark in the title industry as the Co-CEO of Kensington Vanguard National Land Services (KV), one of the largest independent full-service title insurance agencies in the country. Over the past 16 years, Jarett (along with his partner Brian Cooper) has grown KV from a one person back-office start-up, to a 200-person firm that completes over 1,000 transactions each month.
So how did he do it? Jarett was looking to transition from entertainment law into something that excited him. One night of drinks with an old friend started this career pivot and lead him to founding his own firm. It’s a great story.
If you are interested in learning how someone grows a very successful business in the real estate world, you’ll love this episode. You will hear actionable nuggets on how to spot opportunities, market yourself differently, and find your unique “value add” in the market. We also discuss how he strategically teamed up with a former competitor, (now partner Brian Cooper) which helped them expand their business even amid the financial crisis. Along with many industry anecdotes, we also discuss the value of private equity funding, the future intersection of blockchain and title insurance, and other predictions about the market. I hope you enjoy this talk about title, growing a successful business, and entrepreneurial determination as much as I did….
In this show, we discuss:
- Why the name “Vanguard” had huge unintended benefits.
- The challenges of building a company in a completely foreign industry.
- How investing in human capital directly impacts credibility and why Jarett needed to spend all his resources on recruiting talent.
- Why it is important for a real estate entrepreneur to be a persuasive salesman, have an extensive network, and to find their own niche in the industry.
- How title companies are viewed as commodities and the creative angle they took to diversify themselves from the competition.
- What the financial downturn in 2008 taught him and why they were able to weather the storm.
- His advice and warnings for any company seeking private equity funding.
- The different scenarios that someone would need title insurance at a high level.
- How Vanguard has become one of the largest consolidator’s in the market and why M&A is an important stage in any companies growth.
- For more information visit www.behindthebricks.com
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