Lately I have found that there are many fellow abstractors who have undercut my fees for title services.  Sadly, I have to acknowledge that even those who have stellar reputations and are well respected have reduced their fees so as to make a living even at the expense of others while undermining the importance of charging a fee that is well worth it for the work that we do.  I haven't reduced my fees and while it has cost me some clients, I have no plans to do so.  One good thing, many of the "newbies" are gone (those that had no real title experience and were just in it for the buck). 

One of my main concerns is how many rely on online records.  I am receiving more and more "current owner" searches that are older than the available online records or family owned land.   I cannot tell you how many searches I have done lately that have the wrong legal description.  Recently I ran one that secured a crypt in a cemetery instead of the property intended - 2 loans over $200,000.00.  Countless ones where it is evident one relied on online records - surveys weren't verified - numerous errors in the legal description - strips of land, easements - all secured instead of the actual property - missed mortgages, assignments, liens, etc. I could go on and on.   It's no wonder some companies like LFC go out of business.  Perhaps relying on online records and inexperienced abstractors results in claims that they cannot pay.

I try to no longer begrudge the fellow, respected abstractor who has undercut me.  They are doing what they can to survive.  Rather, I will just plug along and do my best to return quality work in a timely manner.  I am in this for the long run and when the market turns around I intend to still be here.  Maybe then I will raise my fees for searches that are "old", etc.!   I am loyal to those who respect what I do and don't dump me for the cheapest.  I look forward to the day when once again, we are respected for the work we do and are paid appropriately.