Timely Document's Blog

A Glossary of Title Industry Common Words and Terms

information@timelydocuments.com (Kristine Bjorge) — Thu, 25 Aug 2011 13:10:34 EST

There are so many terms and words used in the title and abstract industry that it can be a daunting task to understand them all, but that understanding is an important factor in the quality of work done.

Having a glossary of terms makes this much easier and can be used as a reference guide when needed.

I have put together a simple glossary of the most common terms and words used in the title abstracting industry, which can be used by new and veteran abstractors, examiners, searchers alike.

I hope it is of good use to all of you!

KEY WORD LIST:

-or: This is a word ending showing who starts or is at CAUSE over the action.

Grantor = one who grants something. The seller/owner of a property is the “Grantor” as he

is granting the right to buy the property to someone else.

Lendor = one who lends something. The person or company loaning money is the “lendor”.

Mortgagor = one who mortgages property. The buyer of property is the mortgagor as he

gives a mortgage to the lender. (See definitions below for mortgage, mortgagee & mortgagor.)

Trustor = one who puts his trust in another. Both the buyer and the lender could be considered a“trustor” as they each entrust the title company to oversee that the terms of the loan are carried out by both parties.

-ee: This is a word ending showing who receives or is the EFFECT of an action.

Grantee = one who receives a grant. The buyer of a property is the “Grantee” as he is receiving the right to buy the property.

Lendee = one who receives a loan. The buyer would be the lendee of a loan.

Mortgagee = person to whom something is mortgaged. The bank/lender is the “mortgagee”

because it receives the mortgage from the buyer.

Trustee = one who receives something in trust. An attorney or title company is a “trustee” because they are entrusted to oversee the terms of a loan.

GLOSSARY OF BASIC DEFINITIONS:

Abstract: A brief summary. A short statement of the main content of an article, speech, document, etc.

Abstract of Judgment: A brief transcript of the essentials of a judgment.

Abstract of Title: A summary of the conveyances, transfers and other recorded facts regarding proof of title to real property.

Acknowledgment: A legal document or statement made before a notary public, or other duly authorized officer, by a person whose identity and signature are verified by the notary.

Assignment: The transfer to another of any right or interest in real property, or of the title to and interest in an item of personal property, as a patent or a receivable. This is often the selling of a loan from one lender to another.

Assumption Agreement (Assumption of Mortgage): This is an agreement where a person takes over the payment of a property loan from another person. A Veteran’s loan is usually ‘assumable’ by another qualify veteran.

Beneficiary (also called Lender): Someone who receives a benefit. The Lender is a beneficiary because he either benefits by receiving money (interest on the loan) or the property if the owner does not pay the loan back as agreed.

Someone who receives or is to receive money or property from an insurance policy, will, etc., is also called a beneficiary.

By Rights of Survivorship: If one of the people named on the document dies, the other person(s) named gets ownership of the property.

Capital Assets: All of a company’s tangible property, including securities, real estate and other property.

Capital Gain: The profit made when capital assets are sold for greater than their original cost.

Capital Gains Tax: The tax paid on the profis gained from selling Capital Assets.

Capital Loss: The loss made when capital assets are sold for less than their original cost.

CC&R’s (Covenants, Conditions, & Restrictions): Legal limitations as to how a property may be used. The ‘zoning laws’ determine whether a property can be used for commercial, residential or farming purposes.

Cloud (on Title): An invalid encumbrance (see definition) on real property, which, if valid would affect the rights of the owner. Example: “A” sells Lot 1, Block 1, to “B”. The deed is mistakenly drawn to read Lot 2, Block 1.

A cloud is created on Lot 2, by the recording of the erroneous deed. The cloud may be removed by a quitclaim deed or, if necessary, by court action.

Collateral: Something of value which is used by its owner to borrow money against. Often this would be a house and property. It can also be anything listed as personal property. If the borrower fails to repay the debt, the property used as collateral can be taken as repayment.

Consideration: Anything of value exchanged for something else of value to make a binding contract. On a Deed of Trust one normally sees an amount of money given as the consideration.

On a Quitclaim Deed one may see a “consideration of love and affection”.

Conveyance: A document which transfers (conveys) ownership or interests in real property from one party to another. A conveyance must be ‘acknowledged’ before a notary public and recorded with the County Recorder or Recorder of Deeds.

Current Owner Search: A search of a property and all pertinent documents for the specific time period of one owner or spouse, co-owners, etc.

Deed: A legal document which shows who owns a particular property. For example, the buyer of real estate receives a deed to the property from the former owner. (See Types of Deeds.)

Encumbrance (or Incumbrance): A right or interest in land decreasing its value but not hindering its sale or transfer. A mortgage would be an encumbrance as it would have to be paid off to the bank before a new person could own the property. (See Lien.)

Execution Date: The date a document was signed and notarized.

Fee: (in law) an estate of land that may be passed on to the owner’s heirs.

Fee Simple: Absolute ownership. A person inheriting property would own it outright, therefore having “an estate in fee simple”.

Fixture Filing: See UCC filing.

Grantee: The person buying or receiving the property. If you were buying a house, you would be the grantee.

Grantor: The person or company selling the property. The owner of the property or a bank selling the property is the grantor.

Instrument: Any document in writing that gives a right or forms a contract. Any document recorded by a government (federal, state or county) is an ‘instrument’.

A deed, sales contract, check, loan agreement, etc. Are all examples of ‘instruments’.

Joint Tenancy: Joint ownership of real or personal property. If one of the joint tenants dies, the other(s) inherit his share of the property rather than his share of the property going to his estate.

The ownership of property in this manner would be “James Smith and Alice Smith as joint tenants with right of survivorship and not as tenants in common.” (See Tenancy by the Entirety.)

Judgement: A legal decision made by a judge in a court of law usually regarding a dispute of some kind.

Lien: A debt or obligation filed against a property which must be settled/paid by the owner of the property in order to clear the title and sell the property to another. Examples of liens are Federal taxes owed, unpaid repairs, lawsuits against the owner, etc.

Modification: A document which changes a loan in some way. This could be to change the terms of the loan, such as the amount, the length of time to pay it off, etc.

Mortgage: A 2-party, document in which the owner pledges his title to real property to a lender as security for a loan described in a promissory note (loan).

To be enforceable, the mortgage must by signed by the new owner (borrower), acknowledged before a notary public, and recorded with the County Recorder or Recorder of Deeds.

If the new owner (mortgagor) fails to make payments on the loan (becomes delinquent), then the lender (mortgagee) can foreclose on the mortgage to force a sale of the real property to obtain payment from the proceeds, or obtain the property itself at a sheriff’s sale upon foreclosure.

Under the Deed of Trust system, title is technically given to a trustee to hold for the lender, who is called the beneficiary. When the loan is paid off, the Trustee then conveys (transfers) the title to the borrower who then owns the property free and clear.

Mortgagee: The lender is the mortgagee because he receives the mortgage from the buyer which entitles the lender to a claim on the property if the debt is not paid when due.

Mortgagor: The buyer is the mortgagor because he mortgages his property to the lender which gives the lender a claim to the property in case the debt of the loan is not paid when due.

Mortgage Search: All related documents to a certain mortgage as requested by an individual customer.

Notarize: To sign a legal paper and stamp it with one’s seal as a notary public.

Notary Public (or Notary): An official who has the legal power to witness the signing of a deed, will, contract, etc. and to declare that a person has sworn to the truth of something.

Note Date: The date the document was drawn up and signed.

Notice of Trustee Sale: Notice is given that the trustee is selling the property by auction. The notice itself will say why the trustee is selling.

Personal Property: Movable property, property which is not real property.

A refrigerator or washer & dryer are personal property that are often sold with a house.

PMM (Purchase Money Mortgage): This is basically a seller-financed sale of property. The seller of the property, rather than a lending institution, loans a sum of money or gives credit to the purchaser in return for holding the mortgage on the property.

Power of Attorney: A legal instrument authorizing one to act as another’s attorney or agent.

Real Property: Immovable property such as land, buildings, improvements, etc.

Any built-in appliances are generally considered real property as they are part of the house being sold.

Real Estate Contract: A contract between two people where person “A” buys property from person “B”. Person “B” is still on the title until person “A” pays off the contract. This is usually done in installments.

Reconveyance: An instrument which shows that a loan (Deed of Trust or Mortgage) has been paid off and the title/ownership of the property is fully reconveyed back to the recorded owner with no further claim for that loan.

Recording Stamp: A stamp that the county puts on a document that says it has been recorded or filed in the county records. Recording stamps include date, time of day, county name and instrument number in most cases.

Release: (See Reconveyance.)

Revocable: That which can be taken away or withdrawn. A driver’s license can be revoked. (See revocable trust.)

Revocable Trust: A trust that may be altered or cancelled during the grantor’s lifetime. Since the trust may be altered at any time until the grantor’s death, it is considered part of the grantor’s estate and is subject to taxation. The property is passed on to the beneficiaries only after the grantor’s death, and the revocable trust then becomes irrevocable. For example, parents might allow their children the use of property without the right to sell it. The parents can take the property back at any time.

Rider: Something added to an official document. For example, a “second home rider” may be added to a deed of trust allowing for a second home to be built on a property at a future time.

Satisfaction: (See Reconveyance.)

Tenancy: The condition of living on land or in a building by renting it;

(See Tenants in Common, Joint Tenancy and Tenants in the Entirety.)

Tenancy (Tenants) By the Entirety: A form of ownership by husband and wife whereby each owns the entire property. In the event of the death of one, the survivor owns the property outright.(See Joint Tenants.)

Tenancy (Tenants) in Common: A form of ownership by one or more people, whereby upon the death of one his share of the property is included in his estate. There is no right of survivorship as in joint tenancy. Tenancy in common of property is indicated by an ownership inscription such as “James Smith and Alice Smith.”

Title: The documentation that shows the legal right’s of a person to the ownership of property.

Title Company: A company which issues insurance against loss resulting from defects of the title, i.e. ownership of property or encumbrances. Title companies represent attorney responsibilities in property title matters.

Trust: A right to the beneficial enjoyment of property that is legally owned by another. The person creating the trust is the creator, settlor, grantor, or donor. (Borrower) The holder of the legal title is the trustee. (Attorney or title company) The holder of the beneficial interest is the beneficiary. (Lender)

Trustee: An attorney or title company. The trustee holds the title to real property under the terms of a title insurance policy for transferring ownership or for ensuring the terms of a Deed of Trust are met for a loan.

UCC = Uniform Commercial Code: The Uniform Commercial Codes are rules governing the use of personal property to secure loans, sales, warranties, and other commercial matters. They have been adopted with minor variations by all states except Louisiana.

UCC Filing: (This is also called Fixture Filing.) A loan on personal property. Service companies which have quantities of non-property related stock, equipment, etc., such as a car dealership’s auto stock, a carpet company’s carpet stock, a metal ship’s large machinery, etc. will use this equipment or merchandise as ‘collateral’ for a loan. (The owner of the property or ‘grantor’ is the one who owes the money.)

UCC-1: A financing agreement form for using personal property (such as company equipment) to secure a loan under the provisions of the Uniform Commercial Code (UCC) adopted in almost all states.

Vest: 1) To give some power or right to. For example, the power to levy taxes is vested in Congress. 2) To give an immediate fixed right to property. For example, the ownership of property is vested to the buyer.

Warranty: A guarantee made by the one who makes or sells something. In the case of merchandise, the seller promises to repair or replace it if it is not as good as it is supposed to be or if something goes wrong within a certain time. In the case of property, clear title and the right of possession are guaranteed by the seller via a Warranty Deed. (See Warranty Deed)

TYPES OF DEEDS:

Bargain & Sale Deed: A deed in which the persons involved make an agreement and sell the property from one person to the other without using an outside agency. John D oe sells his property to John Smith directly for cash or per a loan agreement where John Smith pays John Doe monthly payments defined in the loan agreement.

Deed creating an Estate By the Entirety: A deed that creates whole ownership between more than one person. These people are named on the document. If one owner dies, the others automatically become owners of his share. (See Tenancy By Entirety.)

Deed of Trust: A 3-party document that conveys title to property to a trustee who is entrusted to see that the agreements made in the mortgage are followed by the borrower and the lender. When the loan is paid off, the trustee transfers the title to the borrower.

Good Stop: A Warranty Deed, followed by an institutional mortgage, recorded together (i.e. Prior Deed of Trust filed with Deed and release information). Other good stops could be a deed from a developer, a deed from HUD, or a foreclosure proceeding greater than 10 years old.

Quit Claim Deed: A deed which passes ownership from one person(s) to another. Usually a personal deed between persons. This instrument does not always represent money being paid or changing hands and is therefore not always the Vesting Deed. For example, parents may “give” property that they own to their children this way. (See example)

Vesting Deed: Deed where the person originally acquired the property. This could be any of various types of instruments.

Warranty Deed: Deed which shows ownership. This is the m ost commonly used instrument which transfers a particular property into a certain person’s name. It warrants title and ownership of the property named.

How to Improve Your Quality and Thus Your Income

information@timelydocuments.com (Kristine Bjorge) — Thu, 07 Jul 2011 19:16:21 EST

Successful actions we've taken to improve quality and how this has improved our bottom line.

In an earlier blog post I touched on how promotion and speed of service can increase the number of orders you receive and your income.

Increased orders in = increased income in hand.

In this blog post I want to cover QUALITY and how this relates to increasing your income, your bottom line.

Obviously, quality is important, but what may not be so obvious, is how to improve your quality.

As part of increasing the quality here at Timely Documents, Inc we have been concentrating on a few factors that have been making a real difference and have been improving the individual abstractor's speed and quality of work, and as a result, the income of our company.

There are two specific actions that have made a difference in improving our quality:

1. Training for the job of an abstractor from an actual abstractor course and/or book.

2. Learning the definitions of all the basic words used in the day-to-day world of abstracting.

To break these two points down, when someone has studied the basic materials of abstracting they get the whole picture of what they are doing, why they are doing what they do, where they fit in in the whole scheme of the title industry and as a result understand what is needed from them as an abstractor.

We used a course from an on-line provider and also made our own training material and use this train the abstractors that work at Timely Documents, Inc.

From the training, they learned about the different resources and tools they have to perform their work and as a result they were less frantic and able to handle their work faster and with more accuracy.

The training resulted in our abstractors being able to see the quality of their work from a much broader picture so they catch errors before our clients do.

In addition to training is learning all the basic words of the abstracting trade, which is vital to improving the quality of work being done. I’ve found that in most cases people don’t take the time to really learn the basic words of their trade, leaving them prey to misunderstandings and making mistakes.

We took all the basic words used in the title and abstracting industry, listed them all out from A to Z and went through the list finding the applicable definition for each word until they were understood.

Let me tell you this was NOT a small list and took some time, but definitely paid off in a greater understanding of the documents we are requested to search for. It resulted in an even more basic understanding of the abstracting trade and made each abstractor much more knowledgeable about their work.

Through training and defining the basic words of abstracting we have improved the quality of work being done. It has also resulted in the work being done faster, which is a nice perk!

I wanted to share the above as I thought it may help you improve your craft, and as a result, increase the amount of orders coming in from existing clients and increase the amount of referrals you get, which all adds up to more money in your pocket!

Increasing Your Business by Increasing Your Speed

information@timelydocuments.com (Kristine Bjorge) — Mon, 13 Jun 2011 12:42:57 EST

How does speed in delivering your service relate to the quality of the services you provide? How does speed and quality affect your bottom line?

The financial prosperity of an abstractor business (or any business for that matter) is directly proportional to speed in which it handles inquiries, letters/emails from clients, customers, etc.

To really grow financially, services delivered must be as close to instant as possible.

Anything that stops or slows the speed of a business or delays or puts a client or service on hold is that thing that is preventing your company from becoming financially strong.

Good management of a business is locating any slows or delays and handling them to increase the speed in all areas of a business and to increase the speed of the services provided to clients.

Speed of abstracting services provided is of equal importance to quality of abstracting services provided. They must be given equal importance.

Only then can an abstractor prosper as clients will be happy and will tell others about the abstractors speed and quality of service, which will then equal an increase of work coming the abstractors way.

How to Get More Abstracting Business

information@timelydocuments.com (Kristine Bjorge) — Wed, 25 May 2011 19:14:33 EST

The way to get more abstracting business is to promote. You must make yourself known to be noticed and seen as an abstracting resource.

If you stay quite no one notices you. If you promote in any possible way, you get noticed. I know this seems obvious and much too simple to be useful, but this is the difference between abstractors and abstracting companies that are making it and those that aren’t.

I decided to write about this after talking to one to many abstractors in the field and hear them say that “business is slow.” While this may be the case, there are abstractors I spoke to that aren’t feeling the “slow” in business and that have plenty of orders coming in. So I decided to contact them and find out why.

What I found was quite startling. Those that were doing well were using any possible means to promote. They were calling past clients and getting new orders, they were calling current clients and asking for more work and getting it. They had ads on Source of Title and other related websites and had there names in different types of directories and handed out their cards to whoever they met.

They were “making” the business.

Those that were not getting business or were getting less business were not promoting (or at least not promoting to the same degree). One for one was counting on existing clients to continue to give them work; they were not calling past clients to rekindle the business relationship and didn’t have cards to hand out, etc.

In today’s market we need to create the work through promoting ourselves and our businesses through any means possible.

Some of the best methods I’ve found were:

- Calling current clients for more orders.

- Calling past clients to find new orders.

- Handing out cards to people they met.

- Handling out cards to local title companies, real estate offices, law offices, etc.

- Calling totally new potential clients and asking for work.

- Advertising in on line forums.

- Posting a blog.

- Commenting on others blogs.

- Writing to past and existing clients (postal and e-mail).

- For those that could afford it ads on-line.

- The obvious web-site

Times have changed.

We must create the work by getting ourselves out there, promoting, making ourselves and companies known.

Any promotion is better than no promotion.

This was a little research I did that I thought might be interesting and helpful to all those involved in the abstracting and document retrieval business.

How do we get out of the hamster wheel?

information@timelydocuments.com (Kristine Bjorge) — Wed, 13 Apr 2011 15:02:16 EST

"The true foundation of republican government is the equal right of every citizen in his person and property and in their management." --Thomas Jefferson to Samuel Kercheval, 1816

(Note: this isn't a comment on republican vs democracy, we are talking republican vs monarcy in 1816...)

Home ownership is one of the freedoms the initial settlers of American were striving for, their own land, religious freedom, freedom from overbearing taxes - etc.

We all still have equal rights for home ownership. The general slant has been towards renting and since most use mortgages to obtain funds, many have had their ownership endangered due to loss of work or other financial strain. For some it is just plain fear to enter into the housing market. This isn't our basic rights being taken away, it's like we are giving it away.

Additionally, over the past few decades it has become almost necessary for both husband and wife in order to work to support a family. More my point, is that many can't even afford to purchase a home, they are already up to their eyeballs in debt or they just know that they will be if they take on mortgage payments, all utilities, repair costs, property taxes, etc.

A majority of the members of this site are well educated, aware and tend toward being somewhat politically opinionated. I don't boast that I am more educated on the history of our country, home ownership or the history of mortgages in American.

BUT, if you look at the history of Rome, Greece, England and America - they are all littered with cyclic economies and governments that have no real workable solutions to the big problems - economy, education, conflict (war)... I can't think of any civilization in history that has obtained stability for more than a few hundred years before crashing into oblivion.

If we didn't have these hamster wheels, think about all of the things that could be accomplished - both personally and as a country. So many things could be done in the arts, in science, exploration, community and cultural activities, you name it.

Clothing Optional? What ever happened to dressing up?

information@timelydocuments.com (Kristine Bjorge) — Wed, 18 Aug 2010 18:06:14 EST

Now a days the requirements as regards to dress vary wildly. The rare office requires a suit and tie, while more and more home based businesses crop up and small businesses have an “anything goes” policy.

Frankly, in my office I could roll in wearing fuzzy bunny slippers, my hair in rollers and my pajamas and most of the staff wouldn’t even raise an eyebrow. They might make fun of me, but we are a jeans and t-shirts kind of office.

Law offices sometimes require dressing up… depending on the cities culture and whether clients frequent the offices.

Counties don’t seem to give a hoot and their staff wear, jeans and nice shirts, maybe some heals. I see abstractors roll in wearing socks with sandals, t-shirts, worn jeans, etc.

Dressing sharp? – In a lot of cases wearing a nice shirt with jeans and nice shoes suffice for a “professional” setting, lunch meetings, etc.

Do you think that jeans should not be worn in the work place?

When do you dress up and to what extent?

Do you have more confidence in your vendors and clients when they dress a certain way?

Do you feel more prepared for a meeting when in a smart suit? Does this help with your presentation or meeting?

Upbringing – The younger generations in our workforce tend to be more inclined to a hip laid back style. While the older generations stick with their ties and business jackets. Does this still communicate that they are more serious about their career or is it becoming less and less important and in some cases even the opposite – old fashioned?

Make-up – There is a line between a refined/ professional look and garish ostentation, and then there is the matter of a make-up free woman at the reception desk or meeting a client. A bare face in the workplace, is this a faux pa or do we not even notice?

Meetings with clients – Again, does appearance have any affect on your faith in your clients, vendors or coworkers? To what extent? Is there something you mentally note? “No tie = not serious about this meeting”.

Ethnics – Location to location, culture to culture brings you very different dress standards. While in Hawaii fresh out of college I had to invest in some comfy “flippers” (sandals) and more tanks tops. This was common and I fit right in, in the downtown offices.

Los Angeles is an utter mosh of different standards, Portland even more so.

Grooming – Hopefully, at least this one standard remains important at all times. If a ladies hair is a bit frizzy or a gentleman’s hair is shaggy or askew - I can deal with that. Odors, clothing that have been worn to shreds, pit stains or bad breath will always decrease my respect in that individual. Is there anything you look at in this regard? I had a past co-worker that would check in people’s ears to see how much attention to detail was paid. Thankfully I clean my ears and passed her sneaky inspection.

In closing, in this high speed internet age you rarely see any of your clients or even your vendors. But when you do, what do you expect? What instills confidence? Is this solely a battle of personality and products as opposed to appearance and presentation? I have to say I personally dream that the style, grace and panache of the 50’s would come back with vengeance, but it is doubtful given how busy the common American is.

So while Robert’s page shows him in a smart tie and suit, he may be typing his posts in a comfy pair of… fuzzy bunny slippers.

Looking to the Future - Our COO's First Post!

information@timelydocuments.com (Kristine Bjorge) — Thu, 12 Aug 2010 19:08:35 EST

I've been reading the informative articles that are published here and on other sites like WSJ and I wanted to make a general comment about the economy and our future. Feel free to let me know what you think.

We all know the economy has been fluctuating between barely hanging in there to crashed for the past couple of years. Our previous and current administrations have both been blamed for the down economy and the seemingly thoughtless expenditure of tax payer money has decreased the popularity of a once-loved president.

This is the situation in America today, no matter what state, county or city you live in. Everyone is affected by the economic downturn.

With such depressing news out there, it's hard to look at the future as anything but a bleak expanse of government bailouts, undiscovered corruption amongst previously trusted corporations and government bodies, and general oppression by institutions we once looked up to.

It's my opinion, though, that we can make things better. Yes, the government is throwing good money after bad at the nation's problems. Yes, companies we once trusted are filling their coffers with this money and not sharing with those who need help. But, this nation was created upon the belief that as a people, we could change conditions and make a better place to live. So far, we haven't done too bad. While the problems we are experiencing are terrible and the trials ahead might be frightening, we can get through it.

I get angry about the current economy, I get upset when I read about what's being done. But that's the point. I'm just reading about what's being done and not doing anything about it. We are a nation of doers, and by golly, I think we can individually decide to change conditions within our own companies, within our own lives, and persist until those conditions are bettered. This might mean you or I have to extend a helping hand to another company or person. It might mean a vendor has to extend a helping hand to you for a bit. It might mean you have to send out more promotional materials or collaborate with a competitor. There's nothing wrong with that. After all, this nation, our states, counties, cities and companies are all made of individuals, and most individuals are pretty compassionate.

So far, it seems to me that compassion and the urge to make things better are the only things that have helped this country become a leading economic power on the world stage. If enough people start making changes for the better within their own lives and their own companies, the economy has to turn around. Because we are a nation of individuals who choose to band together and forge a better home for ourselves, our families, our friends and loved ones.

I, for one, have become inspired to change conditions in my life and work place. As a group, we've collaborated and come up with fun games to play during the workday that forward our production, but keeps things fun. Our Deputy CEO has gone on a thanking binge. We make sure to give our staff vacation time. These little injections of joy help our days fly by and, in my opinion, help our company become more successful.

So, here's hoping your life and your workplace stay busy and happy!

- Julia Scott-Douglas, COO, Timely Documents

10 Mistakes in a Recession

information@timelydocuments.com (Kristine Bjorge) — Wed, 03 Feb 2010 14:17:46 EST

I found this concise article earlier and think it makes some good points. This is written by acclaimed author and speaker: Grant Cordone.

Recessions cause the economy to contract and make it more difficult for people to do business. What we are experiencing at this time cause people to respond in a similar manner, reacting to economic contraction with more contraction. While it may be a normal reaction to contract at this time it only guarantees that you will be smaller when this is all over.

These are the biggest mistakes individuals and companies can make at this time:

1) People become focused on the problem not the solution. You don't want to shy away from problems you want to identify them and solve them. The problems are the opportunities.

2) Respond with contraction by contracting. You will only get smaller by your actions not because of the economy. Now is the time to expand in amounts proportionate to what your industry has contracted.

3) Under-estimate the level of activity required. The amount of effort now required is and will be far greater in order to get things done so prepare and train your organization to take more action and be more persistent.

4) Lower Pricing. Dropping your price at this time is incorrect. Do the math; less volume at a lower price is suicide. Now is the time to train your people how to build value not lower price.

5) Depend on old strategies for handling new environment. Old strategies will not work in this new economy. It will be 'business-unusual' for some time to come.

6) Go into agreement with the masses. Watch what the masses of people are saying and doing and then do the opposite. The masses almost always do the 'wrong' thing.

7) Over-qualify clients. Treat every opportunity like a buyer at this time. With money and credit more difficult to get and sellers tend to over-qualify their client's ability to do business.

8) Surround yourself with others that are focused on problems. Media runs rampant with bad news during all times but especially at this moment and then friends, family and associates pass on bad news like the flu.

9) Being reasonable-This is not a time to be reasonable but unreasonable, to operate without logic concerning every action you take. If you try to make sense of things now you won't even want to show up for work. Let your competition be reasonable while you are not!

10) Lack of training -Now more than other times you and your people have to know how to operate, function and persist. Now is the time to train and prepare for the when the good times return. Just getting through this will require great attitudes, ridiculous persistence and better selling skills to successfully penetrate the marketplace. Training more than any other investment will put your people's attention on what they can do rather than what they can't do.

No matter what industry you are in now is the time to EXPAND not contract! Let others get lost in the bad news and elect to get smaller. Now is your moment to expand and grab market share by disagreeing with the responses of those you compete. Your competitors are weak and broken, most unprepared and unwilling to do what it takes to get the job done and most of them doing little more than complaining and responding to economic contraction by contracting. Train your people now to expand and conquer into the market by taking advantage of the mistakes your competitors are making.

Grant Cardone, Author and Creator of Virtual Sales Training

Deskercises

information@timelydocuments.com (Kristine Bjorge) — Wed, 30 Dec 2009 16:17:10 EST

There are many different studies that indicate it is both mentally and physically imperative that the human body moves every so often. Pretty much anyone reading Source of Title sits on their bums for a good long stretch daily.

In a past office of mine, we did the typical 8 hours stint of sitting flat on our bums. At times it was longer due to massive projects and unfortunately our belts started to expand and we all started feeling a bit groggy.

One of the chipper fellows coined a phrase DESKERCISES and would softly chant ever so often a little routine that we would all go through. This is going to sound HORRIBLE but it went something like this: “clench” repeatedly for a count of 10 – 20 (which basically meant that we would clench our upper leg muscles and our bums, straightening out our posture as well). Then we would all lean to the side and stretch “stretch, 1, 2, 3”. While filing we started exerting the most physical effort possible in opening the drawers and ever so often we would all jump up and reach up on our tippy toes and reach down to our feet, squat, kick, straighten out your back.

We all started feeling more mentally acute and then we expanded on this concept: no sugar in the office, drink lots of water (8 cups a day is average and recommended), snack on veggies not sweets, keep your metabolism going by not starving yourself between meals and so on. Attitudes improved, the grumblings decreased and we all felt a hell of a lot better.

It became an internal game that did catch on and made it fun. Some positive peer pressure if you will.

I have heard that managers want you to not strain your back so recommend that all of your working necessities stay within direct arm length. This is fine, but every once in a while move around, take a walk for lunch.

Now we have all sorts of aids, those yoga ball chairs (they are actually really comfortable) to align your posture and keep those bums from flattening out.

Since most of you have put forth goals for the New Year and “losing weight” or “becoming more fit” is the most popular. I did want to let you know of something that has worked for me in the past. Not an overall weight loss plan, but it is a definite aid for the office worker.

To an excellent new year!

Amy Jensen

Timely Documents, Inc

www.TimelyDocuments.com

Timely Documents' First Blog - A Different Take

information@timelydocuments.com (Kristine Bjorge) — Wed, 02 Dec 2009 14:53:03 EST

Hello, fellow agents and abstractors. I recently joined the Timely Documents team, located in Portland, Oregon. As Source of Title is an excellent tool, I intend to use it to the fullest extent.

I have been mulling over a possible introduction for myself as the Director of Client Services and also to properly launch Timely Document’s recent decision to become involved in this forum. Sadly, I keep then having my attention called to the bigger problem (the pink elephant in the room, shall we say) that all of us are facing. It is a problem that I am sure plagues you daily and hopefully hasn’t harmed you or your family in any way. It is this word and concept of economy and the harsh times ahead of us.

This may sound naïve and you may whole heartedly disagree, but if you care to, hear me out.

In these difficult economic times, I have continually asked myself: How is it that some are hit harder and faster than others? You see many companies closing down, individuals filing bankruptcy and many families drastically changing their lifestyles. While a handful of others are not just maintaining BUT FLOURISHING. These individuals are not reaping the benefits of the fallen companies; they are genuinely beating the economy. The oddities are true to every industry.

I am not an economist but then again, neither are most individuals. So the subject should be somewhat simplified for everyone’s sake. I am going to elaborate so that we are at least on the same page for brief moment. When someone says “the economy is bad”, they tend to think that this deals with only money or the lack thereof.

There are a few different definitions of this word “economy”, these ones are simple, clear cut and to the point:

American Heritage Dictionary: the management of the resources of a community, country, etc., esp. with a view to its productivity.

Webster’s New World Dictionary: A system of producing, distributing, and consuming wealth.

If you were to then look at “management”, to take charge or care of.

You get the concept of taking charge of the distribution and consumption of resources and productivity. Factually, we are all economists.

In some instances while dealing with prospective companies, vendors and even associates I hear, “business is slow, as to be expected”, “it’s that time of the year”, “it’s not you, it’s that work has been slow”, “It’s so slow, we are down to only 2 staff!”. Of course, I understand, it is agreed upon that this is due to the times and the overall condition of the entire economy.

But, if economy is the management of resources and productivity, do we somehow have a stifled ability to produce as a nation, as an individual, as a company?

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Thank you for taking a moment out of your valuable day to read this. Just so that you know, myself and my company are holding up relatively well in the midst of all of this. It is more food for thought and something that I would like very much to see each and every one of us get out of unscathed.

As I stated above, I am the new Director of Client Services at Timely Documents, Inc. We retrieve documents for all counties in Idaho, Washington and Oregon.

I look forward to delivering the best possible services to our current and future clients.

Have a wonderful day.

Amy Jensen

Timely Documents, Inc.

information@timelydocuments.com