This seems to be the trend in which the abstracting business is headed. Whether it is temporary until the lenders/VM's realize the shortcomings of electronic searches, or a permanent condition resulting from a lack of concern for quality remains to be seen. Either way it forecasts hard times for abstractors.The pressure for abstractors to constantly reduce their prices is unrelenting. It is all the more reason to expand the services you provide to clients. I think that any abstractor that has his/her eggs in one basket (abstracting only) is in for some difficult times in the future. If you are able to provide services in another field of real estate, it will make you less dependent on abstracting. You will be able to ride out the storm if the current trend is only temporary, or it will provide you with an alternate source of income if we are all on a sinking ship.
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