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Boomerang Direct - Suzi Wallace/CA
1/8/2019 10:28:35 PM (1419 views)

[+] When is an Invoice Unreasonably Delinquent? - Carl Litchfield/SC (10 replies)
12/31/2018 10:53:42 AM (2147 views)

[+] STERLING TITLE non-payment - Aaron  Kosola/MN (2 replies)
12/28/2018 10:02:13 AM (3013 views)

[+] Who runs DX Title? Kevin WIlliams or Parthiban Paramasivam? - David Bloys/TX (10 replies)
12/21/2018 11:24:00 AM (3694 views)

[+] Please don't call me if you are from India - R Braun/VA (11 replies)
12/21/2018 8:48:24 AM (2634 views)


Real Title Services


[+] Progressive Title or Pro Title in Ar. - Ricky Gill/MS (21 replies)
12/20/2018 9:20:05 AM (2899 views)

[+] Comment on "Realtors® Reassert Role as Leader in Blockchain Technology Education" - Source of Title/OH (9 replies)
12/17/2018 11:14:32 AM (1949 views)

[+] Title services Online & Offline Orders - $8 - Ravi Mangalagiri/VA (7 replies)
12/17/2018 9:26:40 AM (2554 views)

[+] Fast Track Title Abstracting LLC - Non-Payer - Kevin Williams/IL (8 replies)
12/14/2018 9:51:44 AM (1974 views)

[+] Real T Solutions - Jay Duncan/MO (8 replies)
12/12/2018 4:15:27 PM (2116 views)

Lost Soles - Larry Platt/PA
12/11/2018 5:48:49 PM (1818 views)

[+] How to avoid non payment (for the 4th time) - sam r/FL (3 replies)
12/11/2018 11:21:49 AM (1978 views)

[+] NAW doesn't pay! - Tracey Hicks/NY (1 reply)
12/10/2018 7:19:35 PM (1913 views)

[-] Comment on "First American Launches Blockchain System" - Source of Title/OH (10 replies)
12/3/2018 10:28:50 AM (2464 views)
First American Launches Blockchain - Carol Clark/NY
12/3/2018 10:28:50 AM (4242 views)
Re: First American Launches Blockchain - F P/VA
12/3/2018 9:53:16 PM (3983 views)

OK, so, I have to rant, again. I spoke to an old friend (who is now in upper management in a title company that is not First American or Old Republic) about blockchain and the fact that title companies are hiring "no experience necessary" abstractors and not sending work to freelancers. As far as freelancers he said it's all about money. Pressure is being put on managers to increase profits.  A lot of companies have done this by laying off the longer/higher paid employees, combining jobs to create a new job title and then hiring younger lesser paid employees to do the job, which now includes doing the title search.  As far as claims due to inexperience or blockchain related issues, he said "That's what insurance is for.  We pay for it so why not use it". 

Don't underestimate the other guy's greed.  A movie quote, yes. But one that holds true today in any business. Some of us believe in doing a title search the way it should be done, meticulously. But the people who run the companies look for any and all ways to improve their profit. I mean come on, when you run a business, you’re looking to increase profit and decrease expenses. Well, they see blockchain as a way to run their company with less people. They think the money they gain by laying people off, hiring “newbies”, dropping freelancers and using blockchain is far greater than the money they’ll pay for E&O.

Do I think blockchain will affect use anytime soon? I think just the coming possibilities of blockchain has already started to chip away at our freelance jobs, and this announcement about First American and Old Republic is going to decrease freelance work even more. I also think, even if blockchain turns out to be a dud, freelance work will not increase, because as I’ve said, E&O and new young employees cost less then paying freelancers. Sure, we still get the complicated searches, but there’s only so much of that to go around. And on job websites now I’m seeing jobs for employees to perform “complicated searches, in our office”.

Is this the way everyone in the title industry runs their business? No.  But I think the industry as it relates to freelancers is downsizing, with profits being a determining factor. Do I like it? Nope. Do I have to face facts? Yup. Could I be completely wrong on all topics? Eh, maybe.

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Re: First American Launches Blockchain - Jeffrey Land/NJ
12/10/2018 10:30:16 AM (3395 views)
Re: Comment on "First American Launches Blockchain System" - Michael RAFFERTY/VA
12/10/2018 11:42:18 AM (3452 views)
Re: Comment on "First American Launches Blockchain System" - Jeffrey Land/NJ
12/17/2018 9:44:29 AM (4590 views)
Re: Comment on "First American Launches Blockchain System" - Michael RAFFERTY/VA
12/17/2018 10:16:16 AM (3145 views)
Re: Comment on "First American Launches Blockchain System" - Jeffrey Land/NJ
12/17/2018 10:26:10 AM (3106 views)
Re: Comment on "First American Launches Blockchain System" - Carol Clark/NY
12/17/2018 11:25:24 AM (3224 views)
Re: Comment on "First American Launches Blockchain System" - Michael RAFFERTY/VA
12/17/2018 11:36:33 AM (3167 views)
Re: Comment on "First American Launches Blockchain System" - Carol Clark/NY
12/17/2018 11:19:42 AM (3110 views)

[+] Real Title Services - Back 40 Real Estate Services Donna Sligh-Smith/AL (13 replies)
11/29/2018 8:57:29 AM (2745 views)


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