Oh, how we, as abstractors, would love to reasonably raise our prices.  Most of us haven't raised our prices in years while the cost of living, gas, insurance, etc... is going up every year.  Yes, the lenders and the title companies can afford it, but it is all about price.  Who can do it the cheapest and the fastest, unfortunately it is, in most cases, quantity not quality.

I've had one client tell me, one I like working with very much, that I could raise my prices with them.  I fell unease about it, raising just their price but not other clients.  It would leave a bad taste in my mouth.

I'm not quite sure what your client meant when he said he ran into an independent abstractor at the store.  Can you clarify?  I know the independent wasn't driving a new Mercedes, if he was thinking along those lines.  As independent abstractors, whether it is a one-person operation or a company with several employees, we are all small business owners.  As small business owners we employee over 75%, somebody correct me if I'm wrong, of this country's work force.  Most of us love what we do and are proud of the work we produce.  We usually take more risks than our clients and have a lot more to lose.

I hope your client realizes the efforts that the independent abstractor puts forward for them.  The abstractor needs your client just as much as your client needs them.  Without the abstractor, be it employeed, independent, or an examiner to interpet the data there would be no title industry, just like there would be no title industry without the underwriter.  The title industry must be a team to help protect the borrower.  After all most borrowers know nothing about our industry and very little about credit and money.

John, feel free to e-mail me or call me at 866-450-7399 to discuss this more if you don't want to post.

Jay