Real Title Services
Register
Log In
Forget your Password?

Home
Directory
Bulletins
Forums
Blogs
Articles
Links
Classifieds
About Us
Contact Us
Advertise
FAQ
Privacy Policy


Discussion
<< get older messagesget newer messages >>
to post a message: login - or - register | search messages | show all replies



[+] A Novel Approach to Resolving the National Debt - Kevin Ahern/CT (9 replies)
8/6/2011 11:39:07 AM (3925 views)

[+] Abstract Warehouse - John Sauers/NY (3 replies)
8/5/2011 11:20:45 AM (3988 views)

NALTEA Nashville Meet and Greet - Debi Merrill/TN
8/5/2011 10:14:17 AM (2949 views)

SJC Ruling provides boost for those in eviction - Leigh Attridge/MA
8/4/2011 3:00:04 PM (4055 views)

[+] Software question - F P/VA (3 replies)
8/4/2011 7:48:24 AM (3346 views)




[+] Foreclosure in VA - michael rafferty/VA (2 replies)
8/3/2011 10:09:02 AM (3323 views)

[+] Another Random Question - Brad Bradbury/PA (16 replies)
8/1/2011 8:39:51 PM (3649 views)

[+] Random Question... - Branden Rodgers/OH (3 replies)
8/1/2011 4:29:33 PM (4753 views)

[+] This is not really about fishing..... - F P/VA (3 replies)
7/31/2011 7:45:20 PM (3606 views)

Paying for Title Insurance - Leigh Attridge/MA
7/31/2011 10:29:11 AM (4196 views)

[+] Optional History Classes in Public Schools? - William Pattison /CA (3 replies)
7/29/2011 7:02:10 PM (5063 views)

[+] BOA Demolishing Homes - Leigh Attridge/MA (1 reply)
7/28/2011 6:42:24 PM (4618 views)

[+] Software advice - Rebecca Cowart/MS (7 replies)
7/28/2011 3:49:41 PM (3498 views)

[-] Guaranteed Payment System - Scott Aduddell/MO (14 replies)
7/27/2011 11:07:56 AM (3651 views)
Re: Guaranteed Payment System - Nils Nelson/ME
7/27/2011 11:59:06 AM (6158 views)
Re: Guaranteed Payment System - Kym/NJ
7/27/2011 1:21:25 PM (6075 views)
Re: Guaranteed Payment System - Nils Nelson/ME
7/27/2011 5:19:26 PM (6203 views)
Re: Guaranteed Payment System - Randolph/VT
7/27/2011 10:08:53 PM (6131 views)
Re: Guaranteed Payment System - Branden Rodgers/OH
7/28/2011 3:27:05 PM (6027 views)
Re: Guaranteed Payment System - Scott Aduddell/MO
7/28/2011 8:38:00 PM (6120 views)
Re: Guaranteed Payment System - Patrick Scott/IL
7/28/2011 11:45:07 PM (6106 views)
Re: Guaranteed Payment System - Scott Aduddell
8/1/2011 4:45:24 PM (6021 views)
Re: Guaranteed Payment System - Branden Rodgers/OH
8/1/2011 3:36:40 PM (5975 views)
Re: Guaranteed Payment System - Nils Nelson/ME
7/29/2011 10:43:01 AM (6192 views)
Re: Guaranteed Payment System - William Pattison /CA
8/1/2011 11:47:23 AM (5914 views)

   Some of this depends on the client base.  There are 3 primary sorts of clients that we have and we do deal with each a bit differently when it comes to pay:

1.  The "man off the street" client is the homeowner, lawyer, historical association or other individual seeking a full title chain (usually for a zoning permit, or building permit, or simple history on a home).  This client is a 1-timer whose good will can bring in future business by referral.  However, getting the client request in email with a clear, explicit written agreement to pay is the first rule of business and has ever failed to garner payment, so despite frequent offers by people to "pay up front", I never find this necessary with the Common Man.

2.  The regular corporate client who offers repeat business through ongoing contracts.  I no longer offer this as an option, as these aggregate firms take $250 from a homeowner, farm the project out to us for $100, and yet expect to get $250 worth of work.  It cheats the homeowner out of quality.  BUT, when we did do this, we always rewrote their contracts to offer our terms, usually to have the contract rejected.  The few that accepted and signed did so, and did not like the retainer on deposit requirement, late penalties, and added fees for copies that they wanted for free.  I guess that RTFD was lost on them.  lol

 3.  Corporate clients who normally use vendor agreements still approach us because nobody else can or will do the research, so they are forced to pay our set rates, instead of their $100 fees.  This is always uncomfortable & unpleasant involving whining and crying on their part.  We have them prepay the research cost, and offer them doc copies at-cost.  Since we can inspect, digitally photograph and otherwise abstract Official Records at zero-cost at the county offices, we have no overhead for this and so copies are optional, and they can get them from other resources cheaper, sometimes.

 Solutions:

A.  Watermark your report pages and records copies with copyright and address.

B.  Get everything in writing by email including agreement to pay.  Get the client's name, address, email, phone, fax and contact agent name in the same email chain and include the email history as an Exhibit / addendum to your report.

C.  Check the abstractor forums:  wait 30 minutes before responding or tell the client that you'll call back in an hour.  This will give you time to check out their reputation for payment.  If they look bad, charge more and have them pay 50% up front, or refuse the job.  Really.  Are you so desperate that you want to work knowingly without pay coming?  

D.  Don't get in the middle of crappy vendor agreements;  charge your rates for your professional services, not somebody's "vendor" rate.  Remember, the only vendor search you will get is into old microfilm, microfiche, and books prior to 1985, because they can't get title cheaply online.  Why work hours for a $40 set rater with copies included when the deed is in 1932?

 E.  Have them give you a retainer worth a few searches that you can put on deposit in case of their payment default.  They are businesses with money, and your fee should not be contingent upon any "close of escrow" event;  they can pay you.  The homeowners and buyers are NOT your client;  they are theirs.  Your client is the firm that contacted you for a search.

 

 

to post a reply: login - or - register


Re: Guaranteed Payment System - John Campbell/CA
2/6/2012 8:16:07 PM (4962 views)
Re: Guaranteed Payment System - Scott Perry/PA
2/8/2012 9:25:08 AM (4720 views)
Re: Guaranteed Payment System - Robert Franco/OH
2/8/2012 10:34:24 AM (4710 views)

[+] Update on New Millenium Title - Leigh Attridge/MA (2 replies)
7/27/2011 8:50:37 AM (3842 views)


<< get older messagesget newer messages >>

DISCLAIMER: These Message Forums are un-moderated and Source of Title does not endorse the content of any of the posts. Source of Title discourages libelous comments and you, as the sole creator of the content, take full responsibility for your remarks.
Directory

The Source of Title Business directory has 8977 listed companies.

Leave feedback on a company:
SOT ID #:  learn more...
DRN Title Search
Blogs

Read other users' blogs-- or start your own!

Most Recent Blog Posts:

Practical Obscurity, Revisited
Blurbs from the Bossman
2026/08/06
0 comments

Beneath Every Closing Lies a Story
Michael Stelzer's Blog
2026/07/18
0 comments

Residential Appraisers: Reclaim Your Time
Will Duncan 's Blog
2026/07/09
0 comments

Articles

Source of Title articles help to keep you informed on the state of the title industry.

Hopdox Founder Paul Clifford Named 2026 Recipient of PRIA's Carl R. Ernst Founders Award
“Paul's impact on this industry is hard to overstate,” said Brian Boike, President of Hopdox. “From he...
Mortgage Applications Increase in Latest MBA Weekly Survey
"Mortgage rates reached their highest levels in four weeks as investors’ concerns about inflation and growing defi...
New York Housing Leader Warns Congress Gas Bans Undermine Affordability
“I see firsthand what that means for builders and home buyers,” Fazio said. “In colder climates, fully...
Stewart Expands Commercial Energy & Infrastructure Capabilities with Acquisition of Tower Title
Founded in 2019, Tower Title quickly became a leading national title company catering to the telecommunication industry,...
Large Metro Core Counties Drive Drop in Single-Family Market Share
“Builders are finding more opportunities in smaller metro areas, where developable land is generally more availabl...

Search Articles:
browse...

Classifieds

Buy, sell, or trade! Browse the ads or post your own!

© 2020, Source of Title.