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



[+] Blockchain - F P/VA (7 replies)
10/31/2018 11:54:09 AM (4414 views)

Optima-non payer - Jason Knowles/AL
10/30/2018 2:47:50 PM (2174 views)

[+] Lendserv - Jason Knowles/AL (3 replies)
10/30/2018 2:44:38 PM (2866 views)

[+] BoA - kim rase/CO (2 replies)
10/27/2018 4:16:11 PM (2793 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 (2690 views)


Real Title Services


[+] Timely Documents Inc - Prem Kumar/NV (12 replies)
10/26/2018 3:21:25 PM (3639 views)

[+] kofile searches - Tom Schmick/OH (3 replies)
10/22/2018 12:32:01 PM (3097 views)

2018 NAILTA/NALTEA Conference - Robert Franco/OH
10/21/2018 5:37:07 PM (3458 views)

[+] Judgement Lien - Abrar Khan/TX (5 replies)
10/16/2018 5:09:56 PM (3384 views)

[+] CALREPORTING 818 AREA CODE - Scott & Sandra Forbes/CA (6 replies)
10/15/2018 3:29:15 PM (2990 views)

Express Services / Derrick Whitaker - Jaime Melvin/NC
10/12/2018 7:22:44 PM (2794 views)

[+] Any word on this company - Karen Knuth/NY (2 replies)
10/10/2018 11:40:23 AM (3711 views)

[-] We can't be Walmart anymore... - Alix Ott/MI (27 replies)
10/9/2018 12:51:44 PM (3954 views)
Re: We can't be Walmart anymore... - ROD HEFNER/KS
10/10/2018 6:53:47 AM (3326 views)
Re: We can't be Walmart anymore... - David Bloys/TX
10/10/2018 7:25:52 AM (3065 views)
Re: We can't be Walmart anymore... - Joyce Obrien/PA
10/10/2018 9:45:50 AM (3215 views)
Re: We can't be Walmart anymore... - Alix Ott/MI
10/10/2018 9:56:59 AM (3236 views)
Re: We can't be Walmart anymore... - Joyce Obrien/PA
10/10/2018 10:12:57 AM (2962 views)
Re: We can't be Walmart anymore... - Alix Ott/MI
10/10/2018 2:36:48 PM (3346 views)
Re: We can't be Walmart anymore... - Kurt deVries/FL
10/11/2018 2:53:22 PM (3123 views)
Re: We can't be Walmart anymore... - Meg Evans/OH
10/15/2018 8:40:18 AM (3098 views)
Re: We can't be Walmart anymore... - Heather St Amant/LA
10/15/2018 8:50:20 AM (3042 views)
Re: We can't be Walmart anymore... - Alix Ott/MI
10/15/2018 9:02:55 AM (3121 views)
Re: We can't be Walmart anymore... - Cheryl Santamaria/CT
10/15/2018 8:58:01 AM (3129 views)
Re: We can't be Walmart anymore... - Scott Tischler/OH
10/15/2018 11:52:01 AM (3137 views)
Re: We can't be Walmart anymore... - g h/SC
10/15/2018 4:16:00 PM (3001 views)
Re: We can't be Walmart anymore... - KIMBERLY  FALCONE/PA
10/22/2018 8:30:57 AM (2557 views)
Re: We can't be Walmart anymore... - John Rawlings/WI
10/22/2018 9:34:52 AM (2475 views)
Re: We can't be Walmart anymore... - Lisa Ramsey/TX
10/22/2018 8:35:51 PM (2494 views)
Re: We can't be Walmart anymore... - Alix Ott/MI
10/23/2018 7:07:56 AM (2540 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 (2526 views)
Re: We can't be Walmart anymore... - Lisa Ramsey/TX
10/29/2018 8:54:03 PM (2648 views)
Re: We can't be Walmart anymore... - Lisa Ramsey/TX
10/29/2018 8:54:08 PM (2597 views)
Re: We can't be Walmart anymore... - Alix Ott/MI
10/29/2018 10:12:35 PM (2710 views)
Re: We can't be Walmart anymore... - David Bloys/TX
10/23/2018 7:13:16 AM (2485 views)
Re: We can't be Walmart anymore... -  ABSTRACT SOLUTIONZ /TX
11/7/2018 3:46:38 PM (2374 views)
Re: We can't be Walmart anymore... - Alix Ott/MI
11/7/2018 3:57:43 PM (2651 views)
Re: We can't be Walmart anymore... -  ABSTRACT SOLUTIONZ /TX
11/7/2018 4:08:37 PM (2661 views)
Re: We can't be Walmart anymore... - David Bloys/TX
11/22/2018 8:23:55 PM (2370 views)
Re: We can't be Walmart anymore... - Alix Ott/MI
11/23/2018 7:33:20 AM (2384 views)

[+] Poise Infosystems - Jim A/WV (3 replies)
10/8/2018 7:20:47 PM (3035 views)

[+] USlandrecords vs. "Co-file" - stephen willard/OH (22 replies)
10/5/2018 8:42:57 AM (3852 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:

AI Isn’t “Coming Soon” - It’s Already Here (and Working)
Michael Gigliotti's Blog
2025/09/16
0 comments

U.S. Housing Market Hits 30-Year Low in Home Sales: Causes and Consequences
Marissa Berends's Blog
2025/09/08
0 comments

Understanding Mineral Rights and the Importance of Trained Mineral Researchers
Marissa Berends's Blog
2025/09/05
0 comments

Articles

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

Commercial and Multifamily Mortgage Delinquency Rates Increased in Second-Quarter 2025
“The delinquency rate for commercial mortgages increased in the second quarter of 2025 across most major capital s...
MISMO Publishes Updated Charge and Fee Naming Guide for Industry Use
“The Naming Guide empowers lenders to deliver a more transparent, efficient, and compliant mortgage experience for...
Holland & Knight Files Amicus Brief on Behalf of American Land Title Association Contesting AML Regulations for Residential Real Estate Transactions
ALTA, the national voice of the title insurance and settlement services industry, has approximately 5,700 company member...
Mortgage Application Payments Increased in Latest MBA Weekly Survey
“Mortgage rates declined for the second consecutive week as Treasury yields moved lower on data indicating that th...
NAHB Calls on Congress to Protect Energy Choice
The National Association of Home Builders today called on Congress to help ease the housing affordability crisis by supp...

Search Articles:
browse...

Classifieds

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

© 2020, Source of Title.