Sharon,

As reported many times on SOT, I am the owner of a few title companies, however, started as an abstractor years ago!  I truly believe this career path has allowed me to understand not only the importance of a professional, efficient abstractor, but fair market value as well.

I know for a fact I could obtain basic information for a fraction of the cost, piecing together the rest in order to prepare my commitment.  However, I choose to utilize only the most reputable, professional abstractors in the industry.  I have made mistakes and mis-judged ones character and standards of practice more than once.  I have utilized the services of some "big named agencies" only to find that they provide the very same non-communicative, inefficient, "half-*&^&" service as the other poor quality company's do.  Having said that though, I feel very confident in the team we have built and currently maintain, not all of which are "big named" nor profess to the best in the industry.  They simply say what they do and do what they say.  Rarely is money an issue.  I don't allow it to become one if the service/product is good.  Simple. 

On the flip side, I don't allow my client base to dictate to me what my fees are going to be either.  Good service and proficient product equals fair market value in my opinion.  

Have I lost clients?  You bet.  However, I would dare say that more than half return at some point ready willing and able meet our fee structure.

I feel for your situation Sharon.  I really do.  I am embarrassed to know that I am on the side of the mortgage industry coin that is down right bullying professional abstractors and their company's.  Holding one hostage is no way to do business and is certainly not what 911 taught us about working together for a better cause.

Again, as I have stated before, stand firm in your business model.  Never compromise yourself, your business or your professional team for the all mighty dollar.  Sooner or later, if your service and communication is worthy, these bullies will find that the grass is not always greener on the other side and that you get exactly what you pay for, each and every time!

Best of luck to you and please feel free to email me privately with any other concerns you may have.

JT