Source of Title has a vast wealth of assets in terms of its membership. Probably every expertease connected with the title industry is represented in all states. Suppose we were to form an LLC or corporation to market the talents of the SOT membership to the title companies on a national basis. To date everyone has been concentrating on the newbies undercutting the experienced searchers in price. The title companies seem to be concentrating on price only without regard to other considerations such as experience, quality of workmanship and e&o coverage. Suppose we present these items in a more favorable light to the title companies, and market them as assets rather than liabilities.

We set up a corporation or LLC to market initially to the title companies on the hot list. We know that they are reputable and have the volume of work. The LLC or corporation could be marketed as one stop shopping for all the title needs of the title companies...appraisers, abstractors, signing agents, etc. SOT already has the apparatus in place to select the individuals needed based on the state, county,expertese and price. As the title companies order searches or whatever the participating members of SOT's names come up on an equal rotation, and he is assigned a search, witness signing, appraisal or whatever. Right now everyone is doing his or her own marketing. There is no organization or continuity to it.

The LLC or corporation could be very easily and inexpensively set up as well as funded. For instance an LLC can be set up here in Connecticut for a filing fee of $60.00. A corporation is a little more expensive...$200- $300. Each member of SOT who wishes to participate contributes X amount of dollars. That contribution makes him/her a shareholder in the corporation or a member in the LLC. That assures him/her an equal place in the rotation of assignments of work. With these contributions to capital the corporation or LLC hires marketers to go out and sell to the title companies. As far as future funding of the corporation or LLC is concerned, it can be accomplished through a small deduction from each members title search, appraisal or witness signing assignments. ...$.50, $1.00 or $2.00 whatever from each assignment. That is why you will need both members and non-members of NALTEA to participate. You will need a large pool of participants in order to keep the unit cost down. One of the title companies here in Connecticut pays its searchers weekly. Four years ago it announced that it could no longer do this without funding, and it proposed deducting $10.00 from each search to continue the weekly pay out. Most of us jumped at the chance. Weekly payment now became a contract right on which we could insist. It helped with the cash flow when other clients were late with payument. This is only an example of how we could fund the marketing of our talents. Maybe someone out there has some other ideas. What do you guys think

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