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 (2688 views)

[+] first snow... - monica froese/ME (1 reply)
11/14/2004 6:52:26 PM (2604 views)

[+] Contact Info for Frank Navarro, InfoTrack for Re-Bill - Oliver Chisolm, Jr/MS (3 replies)
11/13/2004 6:50:49 PM (2789 views)

[+] Working together... (more) - Robert Franco/OH (1 reply)
11/12/2004 6:58:04 PM (3504 views)

[+] Should SOT Support Companies Doing Online Searches - Lisa Ramsey/TX (23 replies)
11/11/2004 5:13:40 PM (2662 views)


Real Title Services


[+] IF YOU LOVE YOUR FREEDOM, THANK A "GRUNT" - Scott Perry/PA (1 reply)
11/11/2004 4:09:57 PM (2675 views)

[+] Someone STOLE..... - Michelle Bernard/LA (13 replies)
11/11/2004 12:02:30 PM (2779 views)

[+] I am a Veteran - Jay Duncan/MO (4 replies)
11/10/2004 11:09:37 PM (2565 views)

[+] It is the soldier - Jay Duncan/MO (3 replies)
11/10/2004 10:40:58 PM (2493 views)

[+] Skipjack - kevin ahern/CT (17 replies)
11/10/2004 5:00:03 PM (2714 views)

[+] E&O insurance - Judy Nisonger/CA (3 replies)
11/10/2004 1:54:28 PM (3341 views)

[+] Online services - Jimmy Smith/PA (13 replies)
11/10/2004 12:43:30 PM (2652 views)

[+] online searchers put me out of buss. - JD Smith/SC (23 replies)
11/10/2004 12:18:49 PM (2616 views)

[+] infoTrack - Frank Navarro - Traci/AL (7 replies)
11/10/2004 11:09:59 AM (2775 views)

[-] Competing With Online Searches - Compass Abstracts/FL (19 replies)
11/10/2004 12:25:40 AM (2579 views)
Re: Competing With Online Searches - Judy Nisonger/CA
11/10/2004 3:25:46 AM (3789 views)
Re: Competing With Online Searches - terezia pataki/FL
11/10/2004 10:25:18 AM (3825 views)
Re: Competing With Online Searches - Shannon Blatt/VA
11/10/2004 11:24:25 AM (3733 views)
Re: Competing With Online Searches - Lisa Ramsey/TX
11/10/2004 11:39:15 AM (3830 views)
Re: Competing With Online Searches - Judy Nisonger/CA
11/10/2004 1:16:20 PM (3666 views)
Re: Competing With Online Searches - Compass Abstracts/FL
11/12/2004 12:02:04 AM (3613 views)
Re: Competing With Online Searches - Kurt deVries/FL
11/12/2004 1:52:22 PM (3695 views)
Re: Competing With Online Searches - Compass Abstracts/FL
11/12/2004 11:36:49 PM (3717 views)
Re: Competing With Online Searches - Rebecca Barney/FL
11/15/2004 10:20:02 AM (3650 views)
Re: Competing With Online Searches - Douglas Gallant/OH
11/10/2004 5:43:16 PM (3656 views)
Re: Competing With Online Searches - David Bloys/TX
11/10/2004 8:02:37 PM (3656 views)
Re: Competing With Online Searches - Douglas Gallant/OH
11/11/2004 4:48:27 PM (3647 views)
Re: Competing With Online Searches - Jeanne Johnson/MN
11/11/2004 1:53:53 PM (3725 views)
Re: Competing With Online Searches - Compass Abstracts/FL
11/12/2004 12:13:11 AM (3659 views)
Re: Competing With Online Searches - Douglas Gallant/OH
11/12/2004 6:06:17 PM (3460 views)
Re: Competing With Online Searches - Compass Abstracts/FL
11/12/2004 11:29:13 PM (3566 views)
Re: Competing With Online Searches - Judy Nisonger/CA
11/13/2004 1:18:57 AM (3621 views)
Re: Competing With Online Searches - Robert Franco/OH
11/13/2004 4:44:23 PM (3716 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 (3551 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:

Fannie Mae Drops Minimum Credit Scores
Security American's Blog
2025/11/10
0 comments

Understanding O&E Title Searches
Security American's Blog
2025/10/29
0 comments

AI Powered Title Plant
Michael Gigliotti's Blog
2025/10/23
0 comments

Articles

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

NAR Forecast: Home Sales Expected to Jump 14% in 2026
Mortgage rates are projected to decline modestly, averaging around 6% in 2026. Yun emphasized that while rates are influ...
American Land Title Association Welcomes End of Government Shutdown
“The American Land Title Association is pleased that Congress and the administration have reached an agreement to ...
Mortgage Applications Increase in Latest MBA Weekly Survey
“Purchase applications picked up almost 6 percent over the week to the strongest pace since September, despite mor...
Former President of Allentown Title Company Sentenced to 54 Months in Prison for Defrauding Title Insurance Underwriter, Clients, and U.S. Government
United States Attorney David Metcalf announced that Louis Belletieri, 44, of Allentown, Pennsylvania, was sentenced toda...
National Association of REALTORS® Appoints First-Ever Chief Data Officer to Advance Innovation and Member Value
"Data is one of NAR's most important strategic assets – and the way we structure and use it will shape where our a...

Search Articles:
browse...

Classifieds

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

© 2020, Source of Title.