Hello Lovelies!

Your friend Kara is here! Yes, I have been gone awhile but I do keep tabs from afar and occasionally drop in.

As the election approaches, no matter what side you are on, we are still united, and we are all worried about our economic future, especially in this industry. Interest rates (and automation) all but wiped out our industry. They recently dropped but now are on the increase again.

Prayers all around and I hope we can pull it together and all be successful.

That said, just the usual pinpoints:

·       Still seeing no pay alerts. I know some of you even charge an advance non-refundable deposit especially with new clients, and that is ok. If in doubt, do your research. ZoomInfo is my go-to, and as always you can ask the “usual suspects” here. Nonetheless, when it comes down to it: trust your instincts. If it sounds fishy, it probably is.

 

Even large firms such as Avanze have no-pay alerts on here. Some have success with them, others not so much. For those of you that have been stiffed by them or any other client, GO ON LINKEDIN AND LET YOUR VOICE BE HEARD. Their clients, and the clients of those clients, will see. Believe me, someone out there will listen. LinkedIn has a HUGE AUDIENCE – bigger than that of sourceoftitle.com. Think about this way: if you

 

·       I also saw a few posts needing Nationwide Document Retrieval. Two things with that:

A)      It is cheaper and often better to go to a local abstractor in the region: this place is filled with them. If you are looking for more regional coverage, Southern Land and Title and Veracity Research run some great outfits.

 

B)      A lot of offshore companies offer “document retrieval” but they are just going to turn around and use a local team (see above) and then mark it up.  ¯\_(?)_/¯

 

At least know where your money is going. Glad I could help…

 

·       Ground searchers: I have made previous posts regarding what you should be charging. It is your time, your gas, your expertise, your energy, your rent/mortgage. Without getting involved in price fixing, if you get a courthouse order for a current owner A) it was probably attempted by someone else B) It is probably going to convert to something way bigger, which you should charge more for. Therefore, count on charging $### for it, or close to it.  One tactic I saw being done before 2015 was someone would charge a low price for a ground-based current owner or two-owner, knowing it was probably going to convert to a 60-year search with a foreclosure, in which they would charge big time. Also, cancellation fees are a thing, see below.

 

·       If you are working out of the court/ground and not charging a percentage cancellation fees, you are making a HUGE MISTAKE and cutting into potentially substantial revenue. Create a plan and coordinate with your clients.

 

·       Here is one that I know people will be angry with me for posting, but ground searchers: really want to stick it to your competition? Coordinate with your clients to create a plan to offer low pricing per search in exchange for massive volumes. Not everyone does it (it depends on the level of your client), but it can be beneficial to you. It is what our “global friends” often do, as well as “umbrella pricing” and “buy 2 get 1 free”.

 

Be smart, be innovative, be united. If everyone starts setting the trends that work to their benefit, the industry will be pressured to work on your/our terms. Courthouse Searchers, Paralegals, Notaries, are on the front lines: YOU should be setting the trends of this industry.

I hope this helps.

XOXO

K

 

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