The value added concept of marketing is a viable alternative to the increased pressure placed on title searchers to reduce their prices. My thought on the subject would be to possibly offer the client more than just the title search...possibly combine several services into a one stop title/closing service. The lenders have subcontracted out the title and closing function to title companies who in turn then subcontract out the title searches, witness signings and recordings to a number of separate people that they maintain on a vendor list. They have to negotiate a fee for each one of them. In so far as the witness closers are concerned, most of the time the signing services and title companies have only a matter of hours to locate a notary or attorney to close the loan. In many cases they have to call a number of notaries/attorneys to close the loan because the notary or attorney already has a closing scheduled or because they can not agree on a price for the closing services. Suppose one vendor was able to offer the title company the complete package for a negotiated fee. In this area a current owner search currently markets for $50.00. A witness closing markets for $50.00-$75.00 (Some clients will pay $100.00) plus $35.00-$50.00 for downloading, printing and copying of edocs. A recording/bringdown goes for $50.00.. total cost, $185.00 to $250.00. If the vendor can offer the full scope of services it leaves him/her the flexibility to make up losses on title searches with the higher cost of closings. I think that Darwin has proved that those that do not adapt to a changing environment do not survive. Is this a concept one that SOT may entertain in its proposed marketing efforts?
With respect to the debate over the availability of public records, I think a distinction has to be drawn between the written records available to title searchers and the general public in the local land records office and the wholesale publication of the information on the internet. While it is true that in the cases cited on this board that crimes perpetrated could have been accomplished either by searching the local records or downloading it from the internet, I think that enforcement of the law and arrest of the perpetrators is greatly facilitated if the records are not published on the internet. Here in Connecticut some of the Town Halls have adopted a sign in program before a searcher can enter the vault to examine the public records. While it is not a perfect system, it does limit the scope of the search for the perpetrator. On the other hand once the information is published on the internet, you never know who or where in the world the information is viewed. If downloaded in a third world nation and used for unlawful purposes, there is virtually no way to enforce the law. I think David Bloys has some very good points in the concerns that he has voiced on this board. No one is going to stop the advance of technology in the computer age, but something needs to be done to prevent abuse of the technology.
to post a reply:
login - or -
register