This is not the first attempt to "automate the title search" process.  Many have come before and some have already gone by the wayside.  However, TitleSmart is owned by First American and has the resources to last.  The more the information becomes available in digital form at the county level, the more viable these systems become.  Eventually, I think that the "instant title" concept will catch on for much of the easy current owner searches used in the equity and second mortgage markets. 

Independent abstractors will be left with the more complicated purchase and commercial transactions.  Those transactions, where the expertise of the examiner are still paramount, will be around for a long time.  However, with the quick, easy searches getting automated, "real" title searches will cost more.  Competition is likely to become fierce and it will be difficult to command the higher prices necessary to survive in the business.

Those who still rely on the quality of work a professional abstractor offers will be willing to pay more for the value of a thorough search.  Those who only care about speed and price will opt for the on-line "instant title search".    The brightest and most experienced are likely to find a niche and survive the changes.

Best,
Robert A. Franco
SOURCE OF TITLE