Judy, since this subject keeps coming up, and it is not my fault, I am going to voice my opinion about a "newbie".
A newbie is someone who gets into the title business with NO experience. You can't include
real estate sales as experience or even being a mortgage broker/banker because you can sell a house and not know anything about title work.
I am especially irritated with those people who decided that they were going to get rich and know NOTHING about title work, especially with the real estate boom in the last few years. Now, if this does not apply to you, don't take offense to it. You can't read a book or take some online class to know about title work, it is not that easy. I worked under an attorney for 2 years before I even considered going out on my own and I took real estate abstracting courses at the community college that was taught by a Maryland state's attorney.
I believe that everyone has a right to work and start their own business, that is what the country was founded for.
That is what I did and I think that you have the "newbie bashing" thing out of context.
Abstractors with no experience made my e&o insurance double in the last 2 years, ask any insurance agent working in the e&o insurance field. It was the "newbie" that did this. Doing title work with no experience and than missing a deed of trust, tax lien or any other judgment will get you in a law suit and paying the piper. The abstractor field has overflowed faster than I have ever seen before and it concerns me. I have not made a mistake in 8 years of title work. I take my time. I have seen new abstractors come in the court house, not knowing what they are doing. They ask us what books they have to check for judgments and what books and computer screens they need to look at to do a title search. We have gotten so sick of this that me and my fellow abstractors send them to the Clerk of Court and leave it up to him to tell them what to do.
Now, it is different if someone comes in and is helping an elderly woman find out what mortgages she has on her home because her husband has died and she doesn't know who she owes or even what she owns. I will do the title search for them and not charge them a penny, I do it out of respect for her.
Work your heart out, make a comfortable living for yourself. I recommend that no one gets into this without knowing the business and working for someone in the title field for at least a year or two. They are creating a mess that the other abstractors have to clean up.
Is anyone sick of this topic yet?
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