The declining prices happened each and every time someone said I will do it this once! Each time someone was told well they have other vendors that will do it for less so you gave them the lesser price! Each time someone thought they would lose their client for the unskilled or starting abstractor! When this happened, I just maintained my pricing. Some chose to go down, those that did that hurt the entire industry. I was only temporarily hurt as I diverted my business in many different directions - a diverse client base. A man told me 4 abstracting companies are investing in a diversion plan here in Texas and he will let me know when they have it completed.
As far as what Robert or someone said below about competing with $25.00 searcher fees - that is what they are offering us Robert - not making on their end - it would be cutting out them and I am beginning to think that the reduction doesn't have to do with a reduction at their companies but holding on to a staff that is way to large for the influx of home equity loans to have passed. I'm wondering if anyone would be willing to share the split of fees between their companies and what the abstractors get.
On the subject of fees - I received a package for signings connected with a large nationwide title company - seems they want to pay 50.00 (yes they tell you) for a signing that is up to 50 miles each way. Now am I missing something here - by the time you would drive - not perform the signing - you would make less than $15.00 an hour after paying for the gasoline - by the time you did the signing and paid your taxes - I'm wondering if you would make minimum wage - I could not believe it!
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