Local Executive Talks State Of The Denver Title Insurance Market
Acquiring title insurance remains a key part of CRE deals in 2017. Bisnow recently caught up with Stewart Title VP and commercial services manager Martin Gibeau to discuss that slice of the real estate world.
Bisnow: What is the most misunderstood value a title insurance company brings to the table?
Gibeau: Data. We have been serving CRE professionals for over six decades in Colorado. We know what CRE professionals need to strengthen their position in terms of transaction volume. The Stewart Title team delivers comp reports and analysis, loan maturity reports by asset class, geographic trending reports and ownership information to brokers, principals, lenders and attorneys statewide — usually within an hour. They use this data to prospect and grow their pipeline.
Bisnow: What is your advantage over your competitors in the industry?
Gibeau: The Stewart culture brings a sense of family to the workplace, and we truly care about our people. This leads to a more confident team environment where we try to connect clients that might have something to offer other Stewart clients in a collaborative way. Brokering relationships is a keystone of our success and delivers competitive separation.
Bisnow: In your market, what industries are driving commercial development?
Gibeau: Denver has been a top three growth city in America since 2008. We've been a top three most diverse market in terms of business mix since 2010. Population growth, along with startups, well-paying jobs and a well-educated workforce are the foundations for new development. The great news about Denver and Colorado is that no single industry dominates the landscape any longer. We have it all! And 300 days of sunshine a year.
Bisnow: Where do you see the health of your local real estate market in five years?
Gibeau: There is usually a dip in the road every seven years or so. Two hundred sixty people a day move to Colorado. Not just this year, but over the past five. We are due for a slowdown, and everybody says interest rates will rise. We are one of the healthiest states in America, and we were one of the first states to emerge from the 2008 recession. We shook that off and grew and developed and bought and sold. We have great vision at a mile high. Just watch.
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