Game changing “Real Estate Commissions and Title Insurance Services
for a Flat Fee” are beginning in Illinois
St Charles, IL (June 2018) William B. Blanchard real estate
attorney and general counsel for Gaia Title, Inc. spoke about a game-changing
development of great significance to Realtors® and title agents in Illinois.
Home Bay, a California real estate technology company is expanding
its operation to seven additional states including Illinois. Home Bay has been successful in the
California real estate market by offering discounted flat fee brokerage
commissions in the range of $2,500 to $3,000.
Home Bay announced this week that its getting into the title
insurance and settlement services business by acquiring OnTitle, a full-service
title insurance and settlement company. Mr. Blanchard stated, “this is a game
changer for Illinois residents, real estate agents and title agencies because Home
Bay’s fees are significantly below prevailing rates in our market. OnTitle is
registered to provide title and closing services in 31 states including
Illinois.” Home Bay’s spokesman says,
“the flat fee platform will allow the company to become a one-stop-technology-shop
for brokerage, title and escrow.” He went on to add, “the recent addition to our
portfolio permits us to streamline the sales and settlement process.”
The question becomes, will Home Bay with the recent acquisition of
OnTitle bring real savings to consumers, and Mr. Blanchard believes it
will. “There is no doubt that consumers
working with Home Bay in its current markets have realized lower commissions
and settlement fees.” added Mr. Blanchard.
William B. Blanchard is General Counsel for Gaia Title,
Inc. and a real estate attorney
representing clients in the Western suburbs of Chicago in all types of real
estate transactions including real estate closings, short sales, and real
estate tax appeals. As General Counsel, Mr. Blanchard provides title insurance
examinations, commitment and policy reviews, supervises closing activities and
regulatory compliance issues.
Mr. Blanchard received his Juris Doctor Degree from DePaul
University College of Law in 1972, and was admitted to the practice of law in
Illinois in 1973.
