A few years after Realty Consultants was formed in 1977, its owners commenced the thought process to form the ideal operational organization for a real estate company. To our active new construction sales and sales of existing homes, a full service insurance division, including “home owners, renter and auto insurance coverage” was added. Then we added a “relocation section” to help the transient buyers to locate a home in another city, state or country! Next in line was the addition of a “property management” division to manage and care of properties. The search for and development of a Mortgage Operation to serve our real estate customers and clients was a series of tasks to be become licensed, including proof of financial qualification and becoming associated with a source of excellent quality mortgage services. This was accomplished.
Until the late 1980’s, in Virginia and by Virginia Law, title transfers and escrow of monies, was permitted only by attorneys-at-law. The Virginia law was then changed allowing title companies to complete the settlement transactions, the final step in purchasing a home and the necessary administrative detail to pass title! The Virginia law change, permitted the accomplishment of the final segment of a home purchase by a title and escrow company. This final capability made accomplishment of the objective of the real estate version of the “One Stop Shop” a reality. The formulation of “Realty Consultants Escrow and Title Company”, with a later business name change to “Prime Title and Escrow Company” was accomplished in 1992.
Realty Consultants’ “One Stop Shop” with all of steps necessary to take the purchase of a home from contract to ownership, became the first “One Stop Real Estate Company” in Southeast Virginia, if not in the entire State of Virginia! Adding to the effectiveness and convenience is the added advantage of having all of the steps located under “One Roof”.
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