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



[+] Timely Documents Inc - Prem Kumar/NV (12 replies)
10/26/2018 3:21:25 PM (3863 views)

[+] kofile searches - Tom Schmick/OH (3 replies)
10/22/2018 12:32:01 PM (3378 views)

2018 NAILTA/NALTEA Conference - Robert Franco/OH
10/21/2018 5:37:07 PM (3750 views)

[+] Judgement Lien - Abrar Khan/TX (5 replies)
10/16/2018 5:09:56 PM (3622 views)

[+] CALREPORTING 818 AREA CODE - Scott & Sandra Forbes/CA (6 replies)
10/15/2018 3:29:15 PM (3222 views)


Real Title Services


Express Services / Derrick Whitaker - Jaime Melvin/NC
10/12/2018 7:22:44 PM (3086 views)

[+] Any word on this company - Karen Knuth/NY (2 replies)
10/10/2018 11:40:23 AM (3988 views)

[-] We can't be Walmart anymore... - Alix Ott/MI (27 replies)
10/9/2018 12:51:44 PM (4202 views)
Re: We can't be Walmart anymore... - ROD HEFNER/KS
10/10/2018 6:53:47 AM (3609 views)
Re: We can't be Walmart anymore... - David Bloys/TX
10/10/2018 7:25:52 AM (3370 views)
Re: We can't be Walmart anymore... - Joyce Obrien/PA
10/10/2018 9:45:50 AM (3524 views)
Re: We can't be Walmart anymore... - Alix Ott/MI
10/10/2018 9:56:59 AM (3546 views)
Re: We can't be Walmart anymore... - Joyce Obrien/PA
10/10/2018 10:12:57 AM (3267 views)
Re: We can't be Walmart anymore... - Alix Ott/MI
10/10/2018 2:36:48 PM (3652 views)
Re: We can't be Walmart anymore... - Kurt deVries/FL
10/11/2018 2:53:22 PM (3413 views)
Re: We can't be Walmart anymore... - Meg Evans/OH
10/15/2018 8:40:18 AM (3385 views)
Re: We can't be Walmart anymore... - Heather St Amant/LA
10/15/2018 8:50:20 AM (3321 views)
Re: We can't be Walmart anymore... - Alix Ott/MI
10/15/2018 9:02:55 AM (3418 views)
Re: We can't be Walmart anymore... - Cheryl Santamaria/CT
10/15/2018 8:58:01 AM (3413 views)
Re: We can't be Walmart anymore... - Scott Tischler/OH
10/15/2018 11:52:01 AM (3424 views)
Re: We can't be Walmart anymore... - g h/SC
10/15/2018 4:16:00 PM (3286 views)
Re: We can't be Walmart anymore... - KIMBERLY  FALCONE/PA
10/22/2018 8:30:57 AM (2847 views)
Re: We can't be Walmart anymore... - John Rawlings/WI
10/22/2018 9:34:52 AM (2776 views)
Re: We can't be Walmart anymore... - Lisa Ramsey/TX
10/22/2018 8:35:51 PM (2812 views)
Re: We can't be Walmart anymore... - Alix Ott/MI
10/23/2018 7:07:56 AM (2824 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 (2825 views)
Re: We can't be Walmart anymore... - Lisa Ramsey/TX
10/29/2018 8:54:03 PM (2957 views)
Re: We can't be Walmart anymore... - Lisa Ramsey/TX
10/29/2018 8:54:08 PM (2891 views)
Re: We can't be Walmart anymore... - Alix Ott/MI
10/29/2018 10:12:35 PM (3004 views)
Re: We can't be Walmart anymore... - David Bloys/TX
10/23/2018 7:13:16 AM (2802 views)
Re: We can't be Walmart anymore... -  ABSTRACT SOLUTIONZ /TX
11/7/2018 3:46:38 PM (2674 views)
Re: We can't be Walmart anymore... - Alix Ott/MI
11/7/2018 3:57:43 PM (2976 views)
Re: We can't be Walmart anymore... -  ABSTRACT SOLUTIONZ /TX
11/7/2018 4:08:37 PM (2983 views)
Re: We can't be Walmart anymore... - David Bloys/TX
11/22/2018 8:23:55 PM (2663 views)
Re: We can't be Walmart anymore... - Alix Ott/MI
11/23/2018 7:33:20 AM (2682 views)

[+] Poise Infosystems - Jim A/WV (3 replies)
10/8/2018 7:20:47 PM (3293 views)

[+] USlandrecords vs. "Co-file" - stephen willard/OH (22 replies)
10/5/2018 8:42:57 AM (4092 views)

[+] Fake AccuFast Email - Bruce Lutz/PA (4 replies)
9/28/2018 1:22:58 PM (3272 views)

Integrity Title now 364 Title - David Bloys/TX
9/27/2018 5:02:27 PM (3290 views)

[+] FUGO SERVICES - matthew clark/AL (10 replies)
9/25/2018 4:58:32 PM (3806 views)

[+] Indus Abstract Services - Smitty Strickland/SC (3 replies)
9/25/2018 2:05:28 PM (3105 views)

[+] ISGN - F P/VA (8 replies)
9/21/2018 9:33:05 AM (3464 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:

Shared Driveway Agreements
Marissa Berends's Blog
2025/12/10
0 comments

Explain It Like I’m 5: FIRPTA Edition
Marissa Berends's Blog
2025/12/03
0 comments

Home buyers are more active this fall.....
Michael Stelzer's Blog
2025/11/27
0 comments

Articles

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

National Association of REALTORS® Unveils Top 10 Homebuying Hot Spots for 2026
"Lower mortgage rates and larger inventory will attract buyers back to the market in 2026," said NAR Chief Economist Law...
Commercial and Multifamily Mortgage Delinquency Rates Mixed in Third-Quarter 2025
“Commercial mortgage delinquencies increased for CMBS and GSE loans in the third quarter and decreased slightly fo...
MISMO Calls for Industry Professionals to Join the New Technology Impact and Enablement Community of Practice
“The mortgage industry is evolving rapidly as technology drives modernization,” said Shawn Jobe, Vice Presid...
Utility Costs, Indoor Air Quality, and Energy Efficiency Drive Commercial Real Estate Sustainability Decisions
"Commercial real estate agents recognize the importance of sustainability when purchasing, leasing, or selling propertie...
Mortgage Applications Decrease in Latest MBA Weekly Survey
“Mortgage rates moved lower in line with Treasury yields, which declined on data showing a weaker labor market and...

Search Articles:
browse...

Classifieds

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

© 2020, Source of Title.