Nibbling away at the very large pie of fees and charges involved in a real estate transaction is titleinsurance.com an online title insurance referral service which seems to have a model in Lendingtree.com. Of course, the one benefit in an online referral service is that title insurers themselves deal directly with consumers instead of having to kickback to realtors.
Hard to know if it makes it safer or simpler- or even cheaper- for the consumer. What is interesting is the unbundling of the services realtors traditionally provide- and the backdoor fees and gifts that bulk up that 6% commission. Because really, who can live on just 6% of your equity?
· Major Federal Crackdown [Realty Times]
· New Title Insurance Lead Generator [Inman Blogs]