Certainly the title insurance and abstracting business has changed. The good old-fashioned in-depth abstracting that was required for “marketable title” is disappearing, and at least for residential properties, it has been replaced with a one or two-owner search that is used to provide “insurable title.” Insurable title being a risk-underwriting product, as opposed to the old “fix-the-problem-so-there-ARE-no-claims” product. But, as I have mentioned before, the core business for the best abstractors is not to chase the $35 residential sales, but the more intricate in-depth work that still exists for: commercial work; cell towers; wind farms; mineral titles; gas and oil rights, etc. I am often asked where to find these professionals, and the major underwriters are now developing “specialty teams” that they fly around the country to do such work. But that is a concern, because we all know that title searching is a VERY specialized, VERY localized occupation, and that no one from outside the area can catch those all important nuances that make a title good or not.
Are you staying current with all the changes in titles in your state? Changes have been rampant the last few years, new liens, mortgage rules due to the need for new tax revenue and the mortgage debacle. Are you advertising your professional expertise? Are you taking advantage of the changing market? I hope so, it could mean like or death for your job and your industry.