So let's think about this for a moment.
Back in the day, when I worked for a white shoe law firm, my boss charged whatever he felt like charging because the firm basically *owned* the bank. We did ALL of their closings. No other law firms even got within sniffing distance of the bank's mortgage department. Title work was done by a crew of 3 of us. We used paper forms because there were no photocopiers in any of the Registries. A full title took a minimum of two full working days to complete & closings weren't scheduled until after my boss had reviewed the title. That was in 1975.
In 1985 or thereabouts that all changed. Individual law firms stopped having a stranglehold on banks. Law firms competed for mortgage lending business. The boom times of 1984-1989 & so forth was driven by technological advances, both in & out of the Registry.
The long & the short of it was that with increased competition ,fees were no longer based on what the market would bear; but on what the market would accept & what the market decided it would accept was lower fees & increased volumes.
Back to the techno advances. I am the original luddite with computers BUT bless their little mechanical hearts - having one made it possible for me to go out & start my own business as a freelance title examiner as I could cover more distance in a day through the magic of the internet. I no longer had to accept whatever a boss was willing to pay me- now I could more or less work like crazy & make my own way in the world.
Change is inevitable. It is the way the world works. Technological change will obviously mean more consolidation - look at big banks & other merged institutions. Look at Red Vision's * we cover or intend to cover 90% of the US* advertising on this site. E-filing has taken over most of the recording fees examiners in Massachusetts used to pocket. That money is now going to a corporate entity. Personally, I'm not so sure that's a good idea & I suspect that in some cases there will be massive re-recordings & cleanups that will need to be done; but if law firms want to plump up their bottom line by cutting out the middlemen then there it is- it's nothing more than change.
My response to change is to accept it & keep moving forwards. In 10 years or 5 years or 2 years we might all be out of a job; but honestly, I think that's true of just about everyone. Lifetime employment is a thing of the past; & in some ways I think that's a good thing especially given the amount of effort I was putting forth & the amount of compensation I was receiving in return.
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