Posted by PB_CA on 3/24/06 9:20am
Msg #108300

Title Abstractor course...

I am looking for a second avenue for income and am thinking about doing Title seaches and was wondering if anyone knows of any good resources and/or courses. You can email me if you do not want to post the information back.

Reply by kkdmiddleton on 3/24/06 9:57am
Msg #108311

Don't know, but when you find out, let me know. Sounds

interesting.

Reply by Kevin Ahern on 3/24/06 10:09am
Msg #108315

If you want some information on title abstracting check out Source of Title's website. It is a site dedicated to abstractors.

However, you should realize that this is not a good time to get into abstracting. I think that the postings on SOT will disclose this to you. The Vendor Manager's are requiring the abstractor's to reduce their fees. The larger title companies and title insurers are digitizing the land records information and outsourcing the work to places such a India and the Phillipines to have the title searches completed at the lowest possible cost. Abstractor's with many years of experience are leaving the occupation because there is no longer any money to be made in it. Generally speaking the signing agent's are in a much better position than the abstractors.

Reply by Loretta Reed on 3/24/06 9:55pm
Msg #108428

I couldn't have said it better myself. I have people that call me regularly to teach them how to abstract. I turn them away and tell them to get a job with an attorney. There are more abstractors now then there is business. After 10 years in the business, the "get rich quick" stage is over.

Reply by TitleGalCA on 3/24/06 10:09pm
Msg #108436

PB, where are you located?

In California, I personally have found there is no need for independent abstractors. Not to rain on your parade, but title companies can search and abstract anywhere and have staffs dedicated to such...it just a cost of doing business for issuing a policy of title insurance. It's all part and parcel of doing business with a title company. No need to hire an independent contractor.

Still, I suppose it's possible in rural areas of California to have that need...and especially for small title companies. For a large company to issue insurance on an independent searchers job, they have to be pretty trusting, IMO, and as they are not, they don't use them. Think First American, Chicago, Fidelity, Lawyers, and, perhaps, Old Republic (only in No. Cal). They don't need you, they have their own trained staff.

Before you spend a cent, contact small independent companies in your area to find out if they use independent agents. Dont' do anything before you research or you could be throwing your money away.

Reply by PB_CA on 3/25/06 9:24am
Msg #108490

Thanks for all of your inputs, I'm just searching for a different avenue for work until the signings pick-up. I'll look for something else, if you have any ideas, I'm open to listen. Oh,BTW I'm in Elk Grove, Sac. area.

Reply by Kevin Ahern on 3/25/06 9:45am
Msg #108491

Good Idea. Abstracting is definitely not the way to go. As was mentioned above many of them are leaving the business for more profitable lines of work. Those that are sticking to it are having difficulty in an unrelentingly declining business. The volume of work is disappearing to digitized computer bases for electronic title searches which are replacing the traditional on site abstractors. The vendor managers are imposing ever increasing price reductions on the abstractors, and cut throat competition for the little remaining business is the order of the day

Reply by Cris_AR on 3/25/06 12:50pm
Msg #108514

Exactly right Kevin, at least in my area.