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



[+] HOME CLOSER - Patty Bolden/TX (2 replies)
11/15/2004 1:17:22 PM (2792 views)

[+] first snow... - monica froese/ME (1 reply)
11/14/2004 6:52:26 PM (2728 views)

[+] Contact Info for Frank Navarro, InfoTrack for Re-Bill - Oliver Chisolm, Jr/MS (3 replies)
11/13/2004 6:50:49 PM (2899 views)

[+] Working together... (more) - Robert Franco/OH (1 reply)
11/12/2004 6:58:04 PM (3626 views)

[+] Should SOT Support Companies Doing Online Searches - Lisa Ramsey/TX (23 replies)
11/11/2004 5:13:40 PM (2739 views)




[+] IF YOU LOVE YOUR FREEDOM, THANK A "GRUNT" - Scott Perry/PA (1 reply)
11/11/2004 4:09:57 PM (2780 views)

[+] Someone STOLE..... - Michelle Bernard/LA (13 replies)
11/11/2004 12:02:30 PM (2871 views)

[+] I am a Veteran - Jay Duncan/MO (4 replies)
11/10/2004 11:09:37 PM (2673 views)

[+] It is the soldier - Jay Duncan/MO (3 replies)
11/10/2004 10:40:58 PM (2606 views)

[+] Skipjack - kevin ahern/CT (17 replies)
11/10/2004 5:00:03 PM (2817 views)

[+] E&O insurance - Judy Nisonger/CA (3 replies)
11/10/2004 1:54:28 PM (3472 views)

[+] Online services - Jimmy Smith/PA (13 replies)
11/10/2004 12:43:30 PM (2765 views)

[+] online searchers put me out of buss. - JD Smith/SC (23 replies)
11/10/2004 12:18:49 PM (2704 views)

[+] infoTrack - Frank Navarro - Traci/AL (7 replies)
11/10/2004 11:09:59 AM (2872 views)

[-] Competing With Online Searches - Compass Abstracts/FL (19 replies)
11/10/2004 12:25:40 AM (2663 views)
Re: Competing With Online Searches - Judy Nisonger/CA
11/10/2004 3:25:46 AM (4003 views)
Re: Competing With Online Searches - terezia pataki/FL
11/10/2004 10:25:18 AM (4062 views)
Re: Competing With Online Searches - Shannon Blatt/VA
11/10/2004 11:24:25 AM (3956 views)
Re: Competing With Online Searches - Lisa Ramsey/TX
11/10/2004 11:39:15 AM (4075 views)
Re: Competing With Online Searches - Judy Nisonger/CA
11/10/2004 1:16:20 PM (3884 views)
Re: Competing With Online Searches - Compass Abstracts/FL
11/12/2004 12:02:04 AM (3836 views)
Re: Competing With Online Searches - Kurt deVries/FL
11/12/2004 1:52:22 PM (3926 views)
Re: Competing With Online Searches - Compass Abstracts/FL
11/12/2004 11:36:49 PM (3937 views)
Re: Competing With Online Searches - Rebecca Barney/FL
11/15/2004 10:20:02 AM (3871 views)
Re: Competing With Online Searches - Douglas Gallant/OH
11/10/2004 5:43:16 PM (3874 views)
Re: Competing With Online Searches - David Bloys/TX
11/10/2004 8:02:37 PM (3896 views)
Re: Competing With Online Searches - Douglas Gallant/OH
11/11/2004 4:48:27 PM (3886 views)
Re: Competing With Online Searches - Jeanne Johnson/MN
11/11/2004 1:53:53 PM (3966 views)
Re: Competing With Online Searches - Compass Abstracts/FL
11/12/2004 12:13:11 AM (3872 views)
Re: Competing With Online Searches - Douglas Gallant/OH
11/12/2004 6:06:17 PM (3674 views)
Re: Competing With Online Searches - Compass Abstracts/FL
11/12/2004 11:29:13 PM (3779 views)
Re: Competing With Online Searches - Judy Nisonger/CA
11/13/2004 1:18:57 AM (3832 views)
Re: Competing With Online Searches - Robert Franco/OH
11/13/2004 4:44:23 PM (3960 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 (3773 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:

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

Shared Driveway Agreements
Marissa Berends's Blog
2025/12/10
0 comments

Articles

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

NAR Pending Home Sales Report Shows 1.8% Increase in February
“The slight gain in pending contracts appears to be driven by improved affordability conditions. However, those co...
New Home Sales Down in January on Weather Disruptions
“New home sales fell in January largely because of weather-related disruptions, even as mortgage rates eased modes...
FOMC Commentary from MBA's Mike Fratantoni
“Ongoing turmoil in the Middle East has significantly increased uncertainty regarding the current and future state...
Mortgage Applications Decrease in Latest MBA Weekly Survey
“Mortgage rates continued to move higher, driven by increasing Treasury yields as the conflict in the Middle East ...
New Title from NAHB's BuilderBooks Offers Advice on Using AI in Residential Construction
“Artificial intelligence is a growing part of our industry and is here to stay,” said NAHB Chairman Bill Owe...

Search Articles:
browse...

Classifieds

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

© 2020, Source of Title.