Jay...
I do understand your aggravation. I am not so sure that even as a group we can "fight" the ultimate globalization of community that is on the horizon. It is no longer possible to halt outsourcing of jobs from this country - and even if we were going to fight the outsourcing - that would be a major political battle and not one that the abstracting industry would face alone. Let's face it - our country is for sale. I think that somewhere there is a huge sign that reads "UNITED STATES - FOR SALE OR LEASE - EASY TERMS - OWNER FINANCING AVAILABLE - TAX ABATEMENT INCLUDED. It is very difficult as an "old timer" to see the direction that our industry is going. These companies in foreign countries are not to blame - but the Companies who pursue the labor outside of this country are. I don't know which is worse - the outsourcing to another country - or the mass production of data entry. We can stop neither. As abstractors, I think it is necessary to find a way to utilize as many resources available as possible in the least expensive and most productive way possible. I utilize a title plant as one of my resources, and they do outsource the scanning and location of documents in another country, And I have noticed that more and more frequently, major mistakes are being made in the indexes. That contributes to why I also utilize the public records and my own inhouse indexes. Under those circumstances, I don't feel quite as vulnerable as I did when I depended totally on the title plant. And believe me, my attitude changed when I learned of the outsourcing. My confidence level fell considerably. But I think it is also necessary to look at the environment that the title industry is heading. I remember when doing an abstract of title took a week or two - compiling all the documentation, making copies and abstracting deeds, and examining. Court searches went back thirty years...everything was worth doing in depth. And the fees reflected it. An abstract of title in Oklahoma could well run into hundreds of dollars - excluding oil leasehold research. Today, an update of title can be had for as little as $40.00. The search work has all the comparison of a Cadillac and a Chevy. What they are looking for is not Onstar - but just a way to get where they need to be. It doesn't matter if there is a small oil leak...or the tire gets low in the process. But what the industry does need - is to move a little slower toward the technology. Forgive me for saying so, but I think there will be fewer insured titles as time progresses...that the searches themselves will be a sort of abbreviated "insured product" by its simple existence. The title insurance that we see today will be reserved for large commercial properties and extensive estates of the wealthy. Title companies don't want to hear that because it means money out of their pocket - but think about it - the very ones who are clinging to the old way are some of the same ones who are implementing ultimate title technology. We, as abstractors, do have a future. It will definitely be innovative...and ever changing. I already miss the respect and professionalism that our industry expounded just a few years ago. The bottom line is that we are going to have to learn to make lemonade out of all these lemons. And it will call for some very creative options.
Anyone got any?
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