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Realtor^®-Controlled Business

In recent months, several national Realtors with a Chicago presence, as well as some local Realtors, have attempted to challenge the Quinlan & Tyson decision by steering consumers to either "in-house counsel" or to other forms of captive law firms.

ATG takes quite seriously these challenges to your practice. We have been working with the Cook County State's Attorney, the Illinois Attorney General, the Illinois State Bar Association, the Chicago Bar Association, as well as retained counsel to address these issues. If these Realtors do not back down, you can expect us to initiate litigation over this compelling issue. In addition, we are waging an active media relations campaign to educate the public on this specific issue. Recently, I appeared on NBC Morning News as well as the Stock Market Observer to discuss these topics.

With such formidable competition, why do we continue to fight? That is a good question. Organizations like the Professional National Title Network Strategic Alliance Initiative have made the decision, in their words, to "recognize the reality" of Realtor-controlled business and begin forming partnerships between Realtors and lawyers. While I understand the logic behind such an undertaking, I believe that this strategy would be bad for most of our members. Even if this initiative were successful, the best you could hope for would be a small handful of lawyers working harder for less money. The rest of the lawyers would be left out in the cold. To me, this is not a desirable solution and it is no different than when Coldwell Banker steers customers to "friendly counsel." Chicago is a unique market with lawyers representing parties on both sides of the transaction. Because of this, we have a good chance of preserving your practices.

It is our desire to continue to fight hard in the trenches to ensure that you have the unfettered right to provide legal and title services to your clients. That's why we are taking such an aggressive posture.

Multi-Disciplinary Practice

There continues to be a move by the big five accounting firms and international law firms to modify the Code of Professional Conduct to allow non-lawyers and non-legal entities to merge with law firms. We are vigorously opposing any modifications to the rules that would allow law firms to be owned by non-law firms. Why? Because in the Realtor abuses cited above, the Realtor would be free to merge with an existing law firm. That would spell the demise of real estate lawyers, as we know them.

And what if the Equitable or Saloman Smith Barney were allowed to purchase law firms? What do you think would happen to the estate planning lawyers?

I am a member of the ISBA Task Force studying this issue. You can be assured that I will be working my hardest to resist any change to the rules that would allow for the formation of multi-disciplinary practices.

PROFUND^®

We were unable to fulfill our promise to deliver ProFUND 3, our custom title and closing software, to members in 1999. An overly ambitious production schedule, developmental setbacks, and significant Information Services Department turnover all contributed to this unfortunate situation, which we deeply regret. I can assure you that our development team continues to work diligently on this important product. Testing during the fall of 1999 and training sessions during December 1999 and early 2000 provided valuable input from members and their employees actively using the program. Our Information Services Department is working swiftly to make the necessary changes in the program and complete it for release. We appreciate your ongoing patience and are confident that the final product will exceed your expectations.

Computer Leasing

If you haven't done so already, I urge you to avail yourself of this extremely attractive offering. For below market rates, we can bring high-tech equipment into your offices. To date, more than 200 firms have contracted for this excellent service. Why not you? For more information, call Charlie Howard at 217.403.0136.

Web Development

We are in negotiations with a major Internet provider to develop websites for our members at a fraction of the price available in the marketplace. This exciting new venture will give you the opportunity to have a presence on the web that will allow you to be visible and interactive with your clients.

ATG® Fitness Center

Next time you're stressed out, drop by ATG's Chicago office fitness center, which is now available to ATG members. We have excellent professional exercise equipment - treadmill, StairMaster, and weight machines - and men's and women's shower and locker facilities. Next time that end-of-the-month closing has you mumbling to yourself, let us know and we will give you an oasis! Call Gloria Fudoli at 312.372.8361, ext. 173, for details.

For Sale By Owner/Limited Brokerage

We continue to believe that technology and particularly the Internet is going to change the way that real estate is bought and sold in this country. We believe that with increasing frequency consumers will be using the Internet or limited MLS services as a cost saving device. This technology shift will create significant opportunities for real property lawyers. For this reason we are forming a FSBO/Real Estate Brokerage firm that will include the lawyer at the beginning of the process. ATG is beginning a test market of this program in Madison, Wisconsin, in June. We will keep you apprised of our progress on this exciting new venture.

Capital Funding Corporation

Capital Funding, our mortgage banking subsidiary, is generating significant dollars for member firms and significant savings for clients. I urge you to call Hank Shulruff and look into this exciting new member service, 312.372.8361, ext. 152. Half-day training sessions on mortgage origination and software are held regularly in ATG's Oakbrook Terrace office. Call Lori Gallagher for more information, 312.372.8361, ext. 170.

Guaranty Trust Company

Guaranty Trust Company already has $40 million under management. This is an excellent result for a one-year old company. If you have an estate planning practice, it is in your interest to contact us regarding this new opportunity. Please call Hank Blacharczyk or Dennis Norden at (312) 33-TRUST (312.338.7878).

Expanded Markets

We continue to make great progress in expanding ATG's message. Our Canadian joint venture is up and running. We believe we will be a leading provider of title services in that country within five years.

Our Missouri relationship continues to grow and Wisconsin had its first profitable year in its history in 1999. We also recently hired a Managing Attorney for the Indiana operations and that market looks quite promising.

If you are licensed in any of these markets, we urge you to consider issuing in those states.

Media Relations

We continue to be extremely active in getting our message out to the consumer: When buying or selling your home, contact your attorney first. So far in 2000, we have already appeared on several network and cable television shows and have had our message printed in dozens of consumer periodicals. In February we launched a press release campaign offering our consumer brochures, Buying a Home: What You Need to Know, and Selling a Home: What You Need to Know, and have already filled more than two hundred requests. The consumer receives the brochure he or she requested along with a cover letter and a list of active members in his or her locale. The brochures are available at no charge to members. To order a supply for clients and prospective clients, call our Order Department at 800.252.5206, ext. 114.

Conclusion

ATG is poised to meet the challenges and develop the opportunities that we will encounter in the year 2000. I look forward to working with you in one or more of the several programs now available from ATG.