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



Optima-non payer - Jason Knowles/AL
10/30/2018 2:47:50 PM (1786 views)

[+] Lendserv - Jason Knowles/AL (3 replies)
10/30/2018 2:44:38 PM (2501 views)

[+] BoA - kim rase/CO (2 replies)
10/27/2018 4:16:11 PM (2367 views)

[+] Comment on "South Carolina Man Sentenced to 18 Months in Prison For Using Forged Deeds to Steal Homes" - Source of Title/OH (2 replies)
10/27/2018 3:50:19 PM (2294 views)

[+] Timely Documents Inc - Prem Kumar/NV (12 replies)
10/26/2018 3:21:25 PM (3234 views)




[+] kofile searches - Tom Schmick/OH (3 replies)
10/22/2018 12:32:01 PM (2675 views)

2018 NAILTA/NALTEA Conference - Robert Franco/OH
10/21/2018 5:37:07 PM (3041 views)

[+] Judgement Lien - Abrar Khan/TX (5 replies)
10/16/2018 5:09:56 PM (2987 views)

[+] CALREPORTING 818 AREA CODE - Scott & Sandra Forbes/CA (6 replies)
10/15/2018 3:29:15 PM (2606 views)

Express Services / Derrick Whitaker - Jaime Melvin/NC
10/12/2018 7:22:44 PM (2388 views)

[+] Any word on this company - Karen Knuth/NY (2 replies)
10/10/2018 11:40:23 AM (3315 views)

[-] We can't be Walmart anymore... - Alix Ott/MI (27 replies)
10/9/2018 12:51:44 PM (3549 views)
Re: We can't be Walmart anymore... - ROD HEFNER/KS
10/10/2018 6:53:47 AM (3081 views)
Re: We can't be Walmart anymore... - David Bloys/TX
10/10/2018 7:25:52 AM (2821 views)
Re: We can't be Walmart anymore... - Joyce Obrien/PA
10/10/2018 9:45:50 AM (2973 views)
Re: We can't be Walmart anymore... - Alix Ott/MI
10/10/2018 9:56:59 AM (2964 views)
Re: We can't be Walmart anymore... - Joyce Obrien/PA
10/10/2018 10:12:57 AM (2712 views)
Re: We can't be Walmart anymore... - Alix Ott/MI
10/10/2018 2:36:48 PM (3088 views)
Re: We can't be Walmart anymore... - Kurt deVries/FL
10/11/2018 2:53:22 PM (2862 views)
Re: We can't be Walmart anymore... - Meg Evans/OH
10/15/2018 8:40:18 AM (2851 views)
Re: We can't be Walmart anymore... - Heather St Amant/LA
10/15/2018 8:50:20 AM (2796 views)
Re: We can't be Walmart anymore... - Alix Ott/MI
10/15/2018 9:02:55 AM (2881 views)
Re: We can't be Walmart anymore... - Cheryl Santamaria/CT
10/15/2018 8:58:01 AM (2888 views)
Re: We can't be Walmart anymore... - Scott Tischler/OH
10/15/2018 11:52:01 AM (2899 views)
Re: We can't be Walmart anymore... - g h/SC
10/15/2018 4:16:00 PM (2734 views)
Re: We can't be Walmart anymore... - KIMBERLY  FALCONE/PA
10/22/2018 8:30:57 AM (2315 views)
Re: We can't be Walmart anymore... - John Rawlings/WI
10/22/2018 9:34:52 AM (2212 views)
Re: We can't be Walmart anymore... - Lisa Ramsey/TX
10/22/2018 8:35:51 PM (2221 views)
Re: We can't be Walmart anymore... - Alix Ott/MI
10/23/2018 7:07:56 AM (2284 views)

First, I am a vendor manager and it's true that we're not needed.  BUT a lot of companies like to bypass dealing with literally dozens of individuals and have one point of contact -- someone who already has a tried and true group of subcontractors.  It's a lot of work and a lot of time to weed out the chaff.  That's what I do and as an abstractor myself, I'm often able to answer questions and resolve issues (especially in my home state) immediately.

All that being said, Abstracting Life in Texas is NOT Abstracting Life anywhere else.  I found that out when I started to accumulate counties and fees lists in Texas.  The pricing was seriously breathtaking.  And please, no one take offense here because those I work with have been incredibly wonderful -- BUT I get tired of hearing about the distances you drive.  You don't drive any farther than my folks in the Upper Peninsula of Michigan and the northern parts of Wisconsin and Minnesota -- AND WE DO IT WITH SNOW AND ICE.  And isn't it true that to work in Texas you must be local and/or have a company within the state?  That's not true elsewhere.  I'm envious that you can get the prices you're getting...but here's the gist:

Despite the current economic climate, we are a business of supply and demand.  In counties where there are few abstractors I charge more.  But in counties where everybody and their brother has on line access, I have to keep my prices right where they are to maintain the work.  And that goes for counties I do myself, not just as a vendor manager to others.  If I raise my rates, I lose the business to someone else.  Why should the title companies I work for pay me SIGNIFICANTLY more for a search that they can farm out to an abstractor directly?  Or to someone in my own counties who will do it for 10% less than I do?  If they'd have to deal with bad work and unreliable people, that would be different but the fact is there are a lot of people in a lot of areas who do incredibly good, fast work.  If you're shopping for canned goods or toilet paper and just want the basics, why go to Whole Foods when Walmart is 20% cheaper?  You don't.  You go to Walmart for the basics.  Period.  

I am not the only vendor manager who has run into these problems with having to keep our prices low (and, in fact, are asked yearly to LOWER our rates).  I communicate with a lot of competitors here in Michigan and know we're all in the same boat.

Let's use another analogy:  technological items go DOWN in price.  Think about TV's...  This year's LG OLED runs over $2,000 but I have already seen Best Buy drop their price a bit and in a year, that $2,000 TV will be $1200.  Because our industry is also now technological in so many locales, the price of doing our job goes down because more people -- including India -- have access.  Simple 1 owner searches are going away.  Period.  We're not going to be able to compete there much longer (and actually AREN'T competing in a lot of places because the local title companies do all their own work on line in outlying areas and at the courthouse in their own counties).  Maybe it's not true in Texas, but the vault in Lenawee Co. Michigan was full of people just 10 years ago.  Abstractors and local title companies.  Now on the VERY rare trip I make there, I am usually the only one in their huge vault that has 6 work stations.  

It is a fact for most of us that to raise our rates means ALL (rather than most) of the easy work goes away and what's left is only that work that requires expertise and actual courthouse experience.

to post a reply: login - or - register


Re: We can't be Walmart anymore... - James Powell/MI
10/23/2018 10:54:48 AM (2283 views)
Re: We can't be Walmart anymore... - Lisa Ramsey/TX
10/29/2018 8:54:03 PM (2386 views)
Re: We can't be Walmart anymore... - Lisa Ramsey/TX
10/29/2018 8:54:08 PM (2351 views)
Re: We can't be Walmart anymore... - Alix Ott/MI
10/29/2018 10:12:35 PM (2465 views)
Re: We can't be Walmart anymore... - David Bloys/TX
10/23/2018 7:13:16 AM (2222 views)
Re: We can't be Walmart anymore... -  ABSTRACT SOLUTIONZ /TX
11/7/2018 3:46:38 PM (2124 views)
Re: We can't be Walmart anymore... - Alix Ott/MI
11/7/2018 3:57:43 PM (2387 views)
Re: We can't be Walmart anymore... -  ABSTRACT SOLUTIONZ /TX
11/7/2018 4:08:37 PM (2392 views)
Re: We can't be Walmart anymore... - David Bloys/TX
11/22/2018 8:23:55 PM (2125 views)
Re: We can't be Walmart anymore... - Alix Ott/MI
11/23/2018 7:33:20 AM (2157 views)

[+] Poise Infosystems - Jim A/WV (3 replies)
10/8/2018 7:20:47 PM (2670 views)

[+] USlandrecords vs. "Co-file" - stephen willard/OH (22 replies)
10/5/2018 8:42:57 AM (3449 views)

[+] Fake AccuFast Email - Bruce Lutz/PA (4 replies)
9/28/2018 1:22:58 PM (2683 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 8947 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:

How Security American Title Supports Right of Way (ROW) Projects
Security American's Blog
2025/05/05
0 comments

USA-based Abstractors - Part 1
Denise. Williams.'s Blog
2025/01/31
0 comments

Title Search in Maryland
Security American's Blog
2025/01/23
0 comments

Articles

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

Single-Family Starts Down on Economic and Tariff Uncertainty
“The decline in single-family housing starts in April mirrors builder sentiment, as elevated interest rates, uncer...
Soft Spring Selling Season Takes a Toll on Builder Confidence
“The spring home buying season has gotten off to a slow start as persistent elevated interest rates, policy uncert...
April New Home Purchase Mortgage Applications Increased 5.3 Percent
"Despite the ongoing economic uncertainty and mortgage rate volatility, April was a strong month for new home purchase a...
America's Housing Affordability Gap Persists: Households Earning $75,000 Annually Can Afford Less Than a Quarter of For-Sale Home Listings
"The housing market is at a turning point," said Nadia Evangelou, NAR senior economist and director of real estate resea...
ALTA Reports Title Insurance Premium Volume Increased 7% in 2024
“Despite ongoing challenges from limited housing inventory and elevated mortgage rates, title professionals remain...

Search Articles:
browse...

Classifieds

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

© 2020, Source of Title.