Leadership in Title: Sean Stoner
How calculated growth and approachability are helping our acquired companies navigate the current real estate market
With more than a century of history, Stewart Title has grown well beyond being a title services provider. Our brand and services have expanded drastically, especially in the last few years. An advocate for calculated growth, Group Senior Vice President Sean Stoner was recently charged with our Mergers and Acquisitions and Corporate Growth unit. After spending more time in operations, Sean is now shifting his focus to driving growth and spreading the message that, as he puts it, we will be the Premier Title Company in all of our markets.
We sat down with Sean to gain some perspective on how our M&A and Corporate Growth group is supporting our family of companies, their clients and enhancing workflow in the current real estate market.
Q: What inspired you to pursue a career in the real estate title industry?
A: When I first started it became apparent to me quickly that this industry lacked the necessary business acumen and technology to really experience calculated growth. It was ripe for implementing financial discipline and enhancing the role a title company could play with clients.
Q: What has changed the most since you started your career?
A: While the client relationships are still very strong, they exist by text and email more than coffee or lunch. Everyone is busy with work and family, especially since COVID.
Q: Finish this sentence: Success is built on _____________.
A: Calculated growth.
Q: The real estate market has faced challenges over the last few years. How do you ensure your team stays agile and resilient to ever-evolving market conditions?
A: We created utility players. We like to look at the distinct types of business that we do (realtor/real estate agent, builder, lender, developer, real estate attorney, etc.) and load balance between them. Historically, when one or two of the businesses are slow, the other two or three will be strong. The market is good that way, so we encourage people to try new things and become more valuable to the entire team by expanding their skills. It is unbelievably valuable. We also communicate regularly with our clients who are slow to anticipate future activity and discuss ways to increase business with those clients.
Q: What has been the biggest challenge for customers in your area? How are we helping them navigate it?
A: The biggest challenge has been inventory coupled with mortgage rates. This has led to less revenue for those clients. Therefore, we are collaborating with them to streamline or even eliminate processes that we can undertake in our workflow. In some cases, with the right client, we are discussing affiliated business arrangements to partner with those clients to get through a tough market.
Q: What are the biggest opportunities in your area?
A: Local commercial growth has been fairly strong. People are trying to make a living and eventually they need to get deals done regardless of the current rates. Many of our local commercial clients are altering their business plans so that they can continue to develop or grow, and we are working closely with them to find creative solutions to close their deals.
Q: What makes Stewart Title unique as a business partner and title services provider?
A: I think our culture allows us to get closer to our clients and really come up with modified solutions that fit their needs without having to significantly alter our processes and procedures. We can be very flexible for a large underwriter. Furthermore, we have an executive team dedicated to preparing Stewart for the future now, not when it is too late.
Q: What is the most rewarding aspect of your leadership role at Stewart?
A: Helping others with a significant problem or teaching them something I have learned that will increase their skills and confidence. Showing them that what they thought might be too difficult, isn’t.
Q: Stewart was recently recognized as a Top Workplace and U.S. News and World Report Best Places to Work winner. What makes our company a unique place to work?
A: Although we are a big company, we do an excellent job providing the latest and greatest to our employees and we have a sense of ownership or entrepreneurial spirit that is hard to find in a big company.
Q: And one last question, what’s your coffee order or morning drink of choice?
A: Grande latte, low foam, extra hot.
We thank Sean for giving us an insider perspective on his approach to supporting our acquired companies stay agile in the current real estate market. As he states, a collaborative culture is helping Stewart become the Premier Title Company.
Stay tuned for more Q&As for our Leadership in Title Insights series and make sure to follow us on LinkedIn, Facebook and Instagram for more real estate and title industry updates and resources.
Interested in reading more of our Leadership in Title series? Check out our other Q&As:
Leadership in Title: Wyomia Clifton, Group SVP, Direct Operations
Leadership in Title: Emily Kain, Chief Human Resources Officer