In early May, the U.S. Bureau of Labor Statistics announced that there were a staggering 6.6 million job openings, way up from the 2.2 million listed in 2009. Today, employers say that there is a major talent shortage. Many of them say they have a difficult time filling vacant positions, especially those requiring specialized skills. Additionally, jobs continue to be created at a rapid pace.
Employers in the Title Insurance, Escrow and Mortgage market are feeling the same page. Recent industry data provided by TitleBoard.com shows that Title Industry jobs have increased over 230% from May of 2017 with Escrow Assistant, Title Processor and Examiner some of the most in demand jobs The job market for Loan Officer positions is hot as well with 27% increase in job postings year over year per Careerbuilder.com.
Access to the Escrow, Title Insurance and Mortgage Wide Open
It's clearly a jobseekers' market. Business is booming and Title Insurance, Escrow and Mortgage companies are struggling to find the talent to maintain their business. With few experienced candidates to choose from, these companies have opened their doors and invested in training candidates from outside the industry.
Start rewarding career in the finance industry
Candidates seeking finance-related jobs, such as title insurance, escrow, mortgage, banking and credit unions, can leverage this need to land the job of their dreams. If you're looking for a new position, the time to act is now because you can position yourself before the job market cools down. At JobTracks, we can help match you with the right employer with a direct hire. If you're looking for temporary gigs to explore your career path options, we can help with that, too.
Aim for the stars - shoot high, get hired
In today's candidate-driven market, you have a unique opportunity that rarely comes along: You have the potential to shoot high and land a job in a niche industry that was previously unattainable. Unlike years past where you needed to battle other candidates just to stand out enough to get invited to an interview, today you can (and should!) broaden your job search to include jobs you formerly thought were out of reach. Additionally, the demand in the current job market provides the opportunity to successfully negotiate higher salaries than you've dreamed possible.
Low Unemployment means Title Insurance, Escrow and Mortgage companies will need to train and mentor you to teach the Industry. Because of this, some experts suggest that you aim for positions that you're only about 60 percent qualified to do the job (sometimes less!). If you've often wished that there was a specific company you could work for but it was a pipe dream, now is the time to aim for the stars. You just never know what might happen since companies are scrambling for talent to fill certain in-demand jobs. Down the road when the Real Estate market cools off, these opportunities won't be available. However, if you can enter your dream career now, you'll be better positioned to advance in the future.
Tips for preparing yourself for the job search and interview
As you prepare yourself for the job search and interview process, it is important to understand that you need to present yourself differently than you would have a decade ago. In the past, candidates had to focus on the presentation of their hard skills, experience and education. Not so much today. These things matter, but they are not the whole picture when it comes to hiring. At JobTracks, we routinely see employers looking for soft skills that are innate and cannot necessarily be taught.
Simply put, companies are looking for candidates with the “Can Do” mentality. Candidates who demonstrate the following attributes are more likely to catch the eye of employers, even if they aren't 100 percent qualified for the positions they are applying to:
- Demonstrated interest in Title Insurance, Escrow or Mortgage Industry
- Potential to grow and a go-getter.
- Quality communication skills.
- Solid leadership ability.
- Grit, including strength, insight and adaptability.
- Strong performance record.
Presentation is important, but you have to be sure to focus on the right things such as preparation and interest in the industry. You don't need to flaunt your academic education, however your hiring manager may offer you a job on the spot if you tell him you researched the Title Insurance industry by going to the Industry’s National Association (ALTA) and watched Steven Day present to Congress on the Consumer Financial Bureau. Additional interview preparation resources are:
- Escrow Industry Videos on YouTube
- Reviewed your State’s Escrow Association web site such as CEA.
- Took a quiz on whether I wanted to be a Loan Officer
Employers today are more interested in what you can actually do and your potential more than they are in your degree. While you should still craft a quality resume, this shouldn't be your primary focus; you'll want to spend more time developing and honing your interview skills, rehearsing interview questions and researching the industry. Keep in mind that some companies ask totally unexpected and unusual questions (you need to be prepared to answer anything!).
Your interview is where you'll shine more than you will on a piece of paper. Don't forget to prepare some good questions to ask, too. Need help preparing yourself in today's market? JobTracks can help!
It is also important to keep in mind that we live in the era of search, and employers are actively looking up candidates on search engines and on social media. As part of presenting yourself to employers, it is essential that you clean up your online profiles and be sure each one of them is polished. You don't want any questionable photos or other unattractive posts to deter potential employers.
Let us help you find your dream job
At JobTracks, we have a proven record of getting candidates get hired. We promise to provide you with frank and honest advice when it comes to finding and accepting a job in the settlement industry. With a hiring boom on the horizon, we're prepared to help you find the job of your dreams. To learn more about our services, contact us today!