Industry News

Real estate firms could learn from home builders

Capture rates at builder one-stop shops soar

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LAS VEGAS–The most successful builder-based one-stop-shopping operations achieve capture rates of 90 percent for mortgage, 98 percent for title and 50 percent for homeowners insurance. Compare that with the capture rates found at the most successful realty-based operations: 50 percent for mortgage, 70 percent for title and 40 percent for homeowners insurance. And those are the most successful – the average capture rates across the industry are much lower. There are several reasons for the lower capture rates, Weston Edwards told a group of about 300 people at the Real Estate Services Providers Council's fall seminar, "How To Win Through Successful One-Stop Shopping." For instance, many realty firms view those service providers as vendors rather than true partners. They tend to view those services as ancillary, rather than viewing their own firms as true one-stop home-buying operations. "For that reason, they're just not getting what they could be getting," Edwards said. Th...