LARs (Lenders, Attorneys, Realtors, and other Real Estate Professionals)
What does LARs mean?
LARs is a title industry acronym that describes a particular business unit of many title insurance companies. The LARs department is responsible for working with mortgage lenders, attorneys, real estate agents/brokers, and other real estate industry professionals. This unit is dedicated to offering title insurance and closing services to these industry professionals and their clients. Since real estate professionals make up a significant portion of most title companies business it is important that they provide a dedicated resource to work with these professionals and offer high quality service to them and their clients.
What does LARs stand for?
L |
A |
R |
s |
|---|---|---|---|
Lenders & Financial Professionals |
Attorneys |
Realtors |
Other RE/Advisory Professionals |
Banks & Lenders |
Independent Attorneys |
Independent Realtors |
Appraisers |
Mortgage Companies |
Law Firms |
Realty Firms |
Home Inspectors |
Mortgage Brokers |
Bank Attorneys |
Builders |
Engineers |
Local Banks/Credit Unions |
Developers |
Moving Companies |
|
Financial Advisors |
MLS Services |
Landscapers |
|
Accountants |
FSBO's |
||
Tax Preparers |
|||
Consumer Services (debt consolidation, etc.) |
Benefits to LARs professionals
- Saves their clients money.
- Enables the real estate professional to concentrate on the client and their area of expertise.
- Transactions close quickly and more efficiently.
- Peace of mind. The Title company takes care of all title issues.
Why are LARs programs becoming popular?
LARs programs are designed to replace traditional ABA's or Joint Ventures, many of which engage in illegal practices to refer business. LARs programs are designed to benefit consumers by offering efficiency and lower prices and real estate professionals by Providing a dedicated representative for title insurance and closings. All without the illegal kickbacks associated with ABA's and Joint Ventures. There are other acronyms for LARs and they include RAP, and RALs.