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



[-] Competing With Online Searches - Compass Abstracts/FL (19 replies)
11/10/2004 12:25:40 AM (2686 views)
Re: Competing With Online Searches - Judy Nisonger/CA
11/10/2004 3:25:46 AM (4086 views)
Re: Competing With Online Searches - terezia pataki/FL
11/10/2004 10:25:18 AM (4151 views)
Re: Competing With Online Searches - Shannon Blatt/VA
11/10/2004 11:24:25 AM (4044 views)
Re: Competing With Online Searches - Lisa Ramsey/TX
11/10/2004 11:39:15 AM (4167 views)
Re: Competing With Online Searches - Judy Nisonger/CA
11/10/2004 1:16:20 PM (3965 views)
Re: Competing With Online Searches - Compass Abstracts/FL
11/12/2004 12:02:04 AM (3912 views)
Re: Competing With Online Searches - Kurt deVries/FL
11/12/2004 1:52:22 PM (4017 views)
Re: Competing With Online Searches - Compass Abstracts/FL
11/12/2004 11:36:49 PM (4023 views)
Re: Competing With Online Searches - Rebecca Barney/FL
11/15/2004 10:20:02 AM (3953 views)
Re: Competing With Online Searches - Douglas Gallant/OH
11/10/2004 5:43:16 PM (3967 views)
Re: Competing With Online Searches - David Bloys/TX
11/10/2004 8:02:37 PM (3982 views)
Re: Competing With Online Searches - Douglas Gallant/OH
11/11/2004 4:48:27 PM (3972 views)
Re: Competing With Online Searches - Jeanne Johnson/MN
11/11/2004 1:53:53 PM (4052 views)
Re: Competing With Online Searches - Compass Abstracts/FL
11/12/2004 12:13:11 AM (3968 views)
Re: Competing With Online Searches - Douglas Gallant/OH
11/12/2004 6:06:17 PM (3761 views)
Re: Competing With Online Searches - Compass Abstracts/FL
11/12/2004 11:29:13 PM (3882 views)
Re: Competing With Online Searches - Judy Nisonger/CA
11/13/2004 1:18:57 AM (3920 views)
Re: Competing With Online Searches - Robert Franco/OH
11/13/2004 4:44:23 PM (4046 views)

I have to agree with Doug on this... I would just refer the client to the other abstractor; and hope that when the other abstractor is in a similar position, they will refer work to me.  In fact, I have found this works quite well.

The problems with sub-contracting orders out are:

1.)  You still have an E&O concern.  If there is a problem with the search, your client will come back on you (they ordered it with you, you billed for it, you were paid for it).  If the abstractor you used had E&O you could try to make a claim against them for your loss, but your E&O still has the duty to defend you. 

Also, E&O is a claims made policy.  That means that if the policy is not in force at the time the claim is made, there is no coverage.  Therefore, if the abstractor you used gets out of the business, gets their policy canceled, dies, etc... there won't be any coverage to fall back on.  Your E&O would have to cover it, therefore, I think your rates would be higher if you were going to subcontract to others.

2.)  Turn-Around-Time would increase.  You are adding more steps to the process and it will ultimately take longer to get it back to the client.  Also, as Doug pointed out, if they have questions on the order, you have to call another abstractor and call the client back.  It would be more efficient to have the client deal directly with the abstractor.

3.)  Your reputation is on the line.  The client placed the order with you, they may expect that you will do it.  If the other abstractor does a lousy search, or takes too long to get it back, it will reflect poorly on you.  Usually, I think if you refer them to another abstractor, they will appreciate the help but won't blame you if the abstractor isn't the quality they expected.

4.)  There really isn't any more money in doing it this way.  You are splitting the usual fee, you would make the same amount of money just referring clients - assuming an equal amount of reciprocation.

In short, by referring the client to the abstractor, you get to charge your full fee for the work you do, and you don't incur any liability for work you didn't do.

Robert A. Franco
SOURCE OF TITLE

to post a reply: login - or - register


Re: Competing With Online Searches - Judy Nisonger/CA
11/13/2004 5:26:40 PM (3858 views)

[+] Associations - Judy Nisonger/CA (2 replies)
11/9/2004 5:01:27 PM (2540 views)

[+] Surfin' - Judy Nisonger/CA (1 reply)
11/9/2004 4:27:31 PM (2411 views)

[+] Post NALTEA Conference Meeting - Robert Franco/OH (5 replies)
11/9/2004 3:17:19 PM (2438 views)

[+] NCSTATE BAR TRYING TO SHUT DOWN INDEPENDENT PARALEGALS - Donna Grady/NC (4 replies)
11/9/2004 11:28:24 AM (2645 views)




[+] 3000 - Shannon Blatt/VA (3 replies)
11/8/2004 5:20:02 PM (2450 views)

[+] Zeno Data - Matthew DeLand/NY (5 replies)
11/8/2004 4:49:23 PM (2568 views)

[+] 3S Realserv - Lynn Hammett/SC (2 replies)
11/8/2004 2:57:49 PM (2695 views)

[+] Searcher Owes Insurer For Missed Judgment - David Bloys/TX (12 replies)
11/8/2004 1:53:09 PM (2709 views)

[+] For Judy - Shannon Blatt/VA (1 reply)
11/7/2004 3:33:55 PM (2415 views)

[+] Client of the Month - Shannon Blatt/VA (7 replies)
11/6/2004 6:49:33 PM (2471 views)

[+] Hanc Group - Susan Raynard/MA (1 reply)
11/6/2004 1:21:44 PM (2443 views)

[+] Does anyone know G Docs - Jacqueline Costa/RI (2 replies)
11/6/2004 10:55:43 AM (2488 views)

[+] Blue Sky Laws - Judy Nisonger/CA (5 replies)
11/5/2004 7:35:53 PM (2644 views)

[+] Superior - Judy Nisonger/CA (4 replies)
11/5/2004 5:02:41 PM (2419 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 8961 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:

****Seeking Experienced Abstractors Nationwide****
Soni Rahman's Blog
2026/04/21
0 comments

What Is Title Insurance & Benefits
Michael Stelzer's Blog
2026/03/14
0 comments

The Source of Title - Part I: Freedom Written, Freedom Insured
Ben DuBay's Blog
2026/02/15
0 comments

Articles

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

Builder Sentiment Posts Notable Decline on Economic Uncertainty
“Builder sentiment has fallen back in spring as buyers face ongoing elevated interest rates and growing economic u...
Baby Boomers Remain Largest Share of Home Buyers as First-Time Buying Falls to Record Low
“The housing market remains sharply divided between homeowners with equity and first-time buyers trying to break i...
Mortgage Applications Increase in Latest MBA Weekly Survey
“Given the evolving situation in the Middle East and its impact on energy and commodity prices, mortgage rates dec...
March New Home Purchase Mortgage Applications Increased 11 Percent
“Applications for the purchase of newly built homes increased in March, posting monthly and annual gains, and reac...
NAR Existing-Home Sales Report Shows 3.6% Decrease in March
“March home sales remained sluggish and below last year’s pace,” said NAR Chief Economist Dr. Lawrence...

Search Articles:
browse...

Classifieds

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

© 2020, Source of Title.