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[+] HOME CLOSER - Patty Bolden/TX (2 replies)
11/15/2004 1:17:22 PM (2678 views)

[+] first snow... - monica froese/ME (1 reply)
11/14/2004 6:52:26 PM (2598 views)

[+] Contact Info for Frank Navarro, InfoTrack for Re-Bill - Oliver Chisolm, Jr/MS (3 replies)
11/13/2004 6:50:49 PM (2785 views)

[+] Working together... (more) - Robert Franco/OH (1 reply)
11/12/2004 6:58:04 PM (3498 views)

[+] Should SOT Support Companies Doing Online Searches - Lisa Ramsey/TX (23 replies)
11/11/2004 5:13:40 PM (2659 views)


Real Title Services


[+] IF YOU LOVE YOUR FREEDOM, THANK A "GRUNT" - Scott Perry/PA (1 reply)
11/11/2004 4:09:57 PM (2671 views)

[+] Someone STOLE..... - Michelle Bernard/LA (13 replies)
11/11/2004 12:02:30 PM (2773 views)

[+] I am a Veteran - Jay Duncan/MO (4 replies)
11/10/2004 11:09:37 PM (2559 views)

[+] It is the soldier - Jay Duncan/MO (3 replies)
11/10/2004 10:40:58 PM (2481 views)

[+] Skipjack - kevin ahern/CT (17 replies)
11/10/2004 5:00:03 PM (2709 views)

[+] E&O insurance - Judy Nisonger/CA (3 replies)
11/10/2004 1:54:28 PM (3332 views)

[+] Online services - Jimmy Smith/PA (13 replies)
11/10/2004 12:43:30 PM (2647 views)

[+] online searchers put me out of buss. - JD Smith/SC (23 replies)
11/10/2004 12:18:49 PM (2614 views)

[+] infoTrack - Frank Navarro - Traci/AL (7 replies)
11/10/2004 11:09:59 AM (2772 views)

[-] Competing With Online Searches - Compass Abstracts/FL (19 replies)
11/10/2004 12:25:40 AM (2571 views)
Re: Competing With Online Searches - Judy Nisonger/CA
11/10/2004 3:25:46 AM (3772 views)
Re: Competing With Online Searches - terezia pataki/FL
11/10/2004 10:25:18 AM (3809 views)
Re: Competing With Online Searches - Shannon Blatt/VA
11/10/2004 11:24:25 AM (3716 views)
Re: Competing With Online Searches - Lisa Ramsey/TX
11/10/2004 11:39:15 AM (3817 views)
Re: Competing With Online Searches - Judy Nisonger/CA
11/10/2004 1:16:20 PM (3651 views)
Re: Competing With Online Searches - Compass Abstracts/FL
11/12/2004 12:02:04 AM (3599 views)
Re: Competing With Online Searches - Kurt deVries/FL
11/12/2004 1:52:22 PM (3685 views)
Re: Competing With Online Searches - Compass Abstracts/FL
11/12/2004 11:36:49 PM (3693 views)
Re: Competing With Online Searches - Rebecca Barney/FL
11/15/2004 10:20:02 AM (3630 views)
Re: Competing With Online Searches - Douglas Gallant/OH
11/10/2004 5:43:16 PM (3640 views)
Re: Competing With Online Searches - David Bloys/TX
11/10/2004 8:02:37 PM (3638 views)
Re: Competing With Online Searches - Douglas Gallant/OH
11/11/2004 4:48:27 PM (3637 views)
Re: Competing With Online Searches - Jeanne Johnson/MN
11/11/2004 1:53:53 PM (3709 views)
Re: Competing With Online Searches - Compass Abstracts/FL
11/12/2004 12:13:11 AM (3634 views)
Re: Competing With Online Searches - Douglas Gallant/OH
11/12/2004 6:06:17 PM (3447 views)
Re: Competing With Online Searches - Compass Abstracts/FL
11/12/2004 11:29:13 PM (3545 views)
Re: Competing With Online Searches - Judy Nisonger/CA
11/13/2004 1:18:57 AM (3599 views)
Re: Competing With Online Searches - Robert Franco/OH
11/13/2004 4:44:23 PM (3694 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

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Re: Competing With Online Searches - Judy Nisonger/CA
11/13/2004 5:26:40 PM (3537 views)


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