One other thing worth mentioning in this thread...
When an abstractor agrees to lower their price in return for volume, or because it is a really good client that they don't want to lose, it creates a downward pressure from other companies, as well. If ABC Vendor Management Company is able to get their abstractors to agree to work for $35, they can under price XYZ Vendor Management Company. When XYZ starts to lose business and their clients say, "gee we can get that for less from ABC," they have to start cutting their costs to match their competitor's price. Thus, they have to ask their abstractors to lower their prices to $35 (or less) too.
By helping one client lower their prices, the abstractors are helping to push down the prices their other clients are able to pay. At the very least, you are forcing other companies to put pressure on other abstractors to lower their fees.
What it all comes down to is this... the abstractors, as a group, are causing their fees to drop. We all complain about it, but if we refuse to lower our fees, the VMCs would have to find some other way to compete with each other. The worst that happens is that the VMC who can't compete (or get a lower price for the search) will go under and the ones that are left will have to pay the going rate.
Just some food for thought.
Robert A. Franco
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