Title Alliance Reports Mid-Year Affiliate Joint Venture Profits Surpass $2.5 Million
Media, PA (PRWEB) July 30, 2014 -- Title Alliance, a Pennsylvania-based ESOP company specializing in joint ventured title agencies, reported that their family of title and escrow affiliate companies turned a profit of $2,577,677 over Q1 and Q2 of 2014. This brings the total cumulative profits for Title Alliance’s affiliates to $52,092,550 since 2000.
Today, Title Alliance has 37 entities, physically located in 8 states. Existing operations continue to see and sustain growth. Newman Title Agency, based in Strongsville Ohio, closed a record 100 transactions in June 2014, their highest number of monthly transactions since they opened in 2004. When you combine Newman Title and the other Ohio operations with the Title Alliance affiliates in other states, Title Alliance’s portfolio of companies continues to strengthen. New entities, such as Title Alliance of Maine which opened in January will only help the success of the Title Alliance family over time.
“Our Title Alliance of Maine operation was our first operation in the state,” says Bill O’Connell, Partner of Title Alliance. He continues, “In the first 6 months, the company had a profit of $77,676 and agent investors were able to receive a distribution. The powerful team led by Kristine Paolino-Taylor will lead this company to incredible growth and unsurpassable customer service. We know that our systems are built for lasting and profitable relationships.”
The continual growth of the companies produces lasting ancillary income for the real estate companies with which Title Alliance partners. It also assists the real estate professionals with the recruitment and retention of agents into their real estate firms. Since 2000, over 15% of Title Alliance’s affiliate operations have surpassed the $1 million profit mark, and more are on their way to achieving that milestone.
“We work diligently to assure that the systems and methods we have in place produce lasting results,” said Bill Cotter, Chairman of the Board for Title Alliance. “As the market has continued to change, our systems have proved successful and the results have made a true impact on our partners and on agent owners inside of the affiliations that we manage.”
Title Alliance currently has joint ventures in Pennsylvania, Ohio, Maryland, New Jersey, Indiana, New York, Virginia and Maine. The company continues to expand their footprint throughout the year. In June, Title Alliance announced they expanded their footprint westward with the addition of Title Alliance of Indy Metro based in Greenwood, Indiana. They are finalizing their plans to announce a monumental joint venture opening in the coming months that will significantly increase their footprint.
About Title Alliance:
Title Alliance, Ltd, an ESOP Company is located in Media, PA and has been creating RESPA compliant title joint ventures since 1983 with lenders, mortgage bankers, realtors, builders and credit unions. For more information or to find out how a Title Alliance's partnership or title management skills could benefit you visit them online or contact Lindsay Smith at 800-220-3901 x 165.
Lindsay Smith, Title Alliance, Ltd., http://www.titlealliance.com, +1 (610) 892-8100 Ext: 165, [email protected]
Share this article