GRS Group recently opened an office in Cleveland and hired Amy Regal as a director to manage the branch. Regal is part of the firm’s GRS | Title business, and is working on those issues around the region. She formerly worked at Erie Title Agency, and before that spent several years at Chicago Title’s national division. Regal told us why Cleveland is an ideal location to have a title presence and what trends she sees in the sector.
What are some advantages about being located in Cleveland, and what is the importance of GRS | Title opening an office there?
There are many positive things happening in Cleveland right now. Collectively, over the past five years, there have been over $6 billion in new and/or redeveloped properties, including medical office, office, residential and hospitality, along with a new convention center. Cleveland has also been selected home for the 2016 Republican National Convention.
The downtown housing market has realized tremendous growth in the last few years going from 3,000 units to 15,000, and the occupancy is 95% with waiting lists at the majority of the properties. The overall multifamily, office, retail, and especially the industrial markets, remain very strong. Along with being the home to the Rock and Roll Hall of Fame, Cleveland houses the second-largest theater district in the country, second to New York City, with over 13,000 seats. Not to mention, our hometown boy came home…LeBron! #GOCAVS!!
Are there any big title issues you see that might be at the forefront in the coming year?
I don’t foresee any big title “issues” forthcoming through the end of the year. However, what I will be working on is continuing to grow the GRS | Title brand in Ohio and outside of the state where my customers are working on transactions. It’s a big bonus for me to have joined a company where I can develop serve customers, and grow my business, while they are growing theirs.
Have you seen any major changes in the title space as of late?
I’m not sure that there have been any significant changes, but I will say that the market has become much more competitive. Also, as it relates to activity, some commercial segments reported a slight slowdown in January and February but are reporting upticks in activity going forward. GRS | Title has been steady for the year with new orders and has seen a recent increase in requests for proposals on commercial deals.
What are clients requesting from you lately?
Clients continue to ask for quick turnaround times and responsiveness. They expect to work with a title provider that they can trust and services them, and their clients, with integrity and professionalism…..all of which exemplifies the GRS Group model.