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New Electronic Abstracting Program Will Improve Title Search Productivity

July 29, 2004

Realty Data Corp. now accepting abstractors and examiners into new title network

Garden City, NY, – Realty Data Corp. (RDC), a leader in providing electronic abstracting services to the title and financial industries, is actively recruiting title abstractors and examiners to take advantage of its technology through its new RDC Examination Network program. The program will allow title abstractors nationwide to use new technologies to more efficiently perform traditional title searching functions. With the program, RDC seeks to actively embrace, rather than replace, abstractors by facilitating an increased performance of their customary functions.

One RDC goal is to eliminate the sometimes antagonistic relationship between examiners and title data providers by offering abstractors quicker, less expensive and more accurate ways to do business. Because online property reports require top levels of quality assurance and premium data, RDC is recruiting abstractors to test the quality of data being used in its databases, as well as the functionality of the new searching technology.

By using RDC technology, abstractors can complete searches in a matter of minutes, delivering the final product to their customers faster, rather than spending time performing manual searches in courthouses. The Examination Network would also deliver a number of advantages to traditional abstractors:

  • Ability to work from home
  • Capacity to search properties, build reports and deliver the finished product via the Internet
  • Capability to serve customers that require electronic data and delivery, increasing client base
  • Expansion of geographic scope of business with ability to tap into on-line courthouse data in remote locations

"The RDC Examination Network is an opportunity for traditional title searchers to grow their business,” said Bill Welge, Executive Vice President. "RDC understands the concerns examiners have regarding the loss of business to on-line searches. However, we believe there will always be a prominent position for the examiner in the title process, as well as an ability to conduct business in a faster and more efficient manner.”

Such technology enables examiners to increase the number of searches completed in a day, which in turn should increase their profit levels and ability to serve higher volume clients.

Naz Bernardo, president of Resource Confidential in Syracuse, New York, was once a traditional abstractor. Bernardo is now part of the RDC Examination Network. While his company still does traditional field work, he feels that RDC’s technology "has made our lives a lot easier.” "In today’s market, with so many cost factors and time restraints on our products due to the volume of demand, this technology is becoming the crux of our business,” said Bernardo.

The RDC examination network is not intended to replace abstractors with technology, but to facilitate the performance of the examiner’s job. "The RDC Examination Network is not just for anyone with a computer,” Welge cautions. "Our role in the industry is not to replace the examiner with an automated search, but rather to enhance and speed the process for the qualified examiner without sacrificing quality. Abstractors should view our technology as an opportunity, not a threat.”

Source: Realty Data Corp.



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