Very well said, Lynn. This is what we have done as well. We are a few dollars more than most of our competitors, but we do provide a thorough search and that takes more time. We have also refused to lower our prices on many occasions and it has cost us clients. But like others have said - it may not be worth doing their work anyway. I would rather do more work for the clients that pay our fees, on time, and in full. We can provide our good clients with a better turn-around time.
I really like what you said about those abstractors who can do a search for $25 in 8 hours or less... Why do they have the time to get that done? I think it is because they take many shortcuts and they aren't providing a reliable product, but too many clients only look at the price.
It would be nice if everyone realized the costs involved in running a professional abstracting business and they priced their services accordingly - taking into account the huge liability incured. However, there will always be those who are willing to reduce their price to get a piece of the pie.
Thanks for the comments - you make a lot of sense.
Best,
Robert A. Franco
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