http://www.denverpost.com/economy/ci_8969187

With all the investigations and mud slinging with Title Insurance companies..there is a shining light for the Real Estate Brokerage Community and most importantly, the consumer.  The growth of broker owned Affiliated Business Arrangements (AfBA) Title companies were formed due to this exact undisclosed industry Sleeze.  As a AfBA title company owner, I can tell you, we have to operate so far above the line and more importantly we disclose everything to the client, including all competing company rates. On the other hand, the traditional, non-AfBA groups take money and things of value on the side. What people and brokers do not know or do not want to know is that you can search and comparison shop title and escrow rates and at http://www.MyTitleIns.com.  It's a great site.

MyTitleIns.com is a 3rd party independent comparison site. You can complete a demo quote and you will see that the average difference for buyer and seller title/escrow costs can vary about $800-$1500 on any identical transaction! Wow, chump change for most buyers and sellers huh!

Everyone in the industry top to bottom has known about this little shell game (marketing agreements).  These above the table, known, written "marketing agreements" can be investigated easily.   However, what's not talked about is the so called "ghost" kickbacks paid to individual real estate brokers and undisclosed to the unknowing client. Things like gas cards, free postage, dinners, lunches, Shotgun Willies, cell phone bills, airfares, education, conventions, free drinks, free brochures, free 800#s, free farm packages, and on and on. The power of politics (friends in high places) will prohibit the DORE or DOI from doing a full blown audit and taking a good hard look at the books of all the real Title Insurance "marketing" costs...including those expense accounts of the "title sales representatives".

Up until the last five or so years, Title Insurance has been a monopoly. Until the advent of PC's and digital storage, the big five title companies had a virtual lock on all title insurance in the metro Denver area.  So it was just bribe the broker game from one company to the next. Now, title searches are all done online and new title companies outside of the monopoly are in the game. Smaller quality operated, some are AfBAs, title companys are providing full fee disclosure and providing the lowest title and escrow costs in the state to consumers. Like every other business, they operate on lean operating budgets, high technology and do not need any form of marketing. All the business is generated by the Partner Owners and the savings, which is substantial, is given to the consumer.

I would like to see Margaret Jackson focus on the examples of Title Companies that are fully complying with all the rules and regulations and providing the consumer with full disclosure and the lowest costs, period! until there are big changes in the real estate industry, Title Insurance is a needed part of the Real Estate Transaction. It's a service and product like anything else and can be shopped and compared. Since the general public takes, without even asking, the recommendation of the real estate broker as to the choice of Title Company, you would think that true professionals would shop costs for their clients...well until the playing field is level, why would they shop. The Real estate commission is looking at some type of compliance action to force brokers to provide evidence that they "shopped" title insurance or that the client is aware that they should shop prior to making a decision.

Bravo.