Posted by Joseph Miller on 3/29/06 12:32pm
Msg #109394

National Real Estate Information Services going DOWNHILL

I just had a call from one of the vendors I get most of my business from (well I guess I used to now) they have lowered their fees once again BUT now they went too far they lowered them a good 40% I used to get with edocs $135- $140 now they want to offer $90 what a joke
overnite they offer $65 I dont erven leave my home for anything less than $75 They were giving me $115 . well I guess those newbies who take the $40-$50 will now get some business because NREIS will not have me to call if they want to cut off their arm to save money.

Did they give all their employees a 40% reduction? if that happened tehy wouldnt have many left. is the head of the company reducing his income I doubt it, so why should they cut us off we all need to stick together and refuse these low fees.

It is a shame because 40% of my income was coming from them, I just have to get some more new vendors that want quality service and are willing to pay for it.

Joe/NC

Reply by PJA_CT on 3/29/06 12:47pm
Msg #109396

I have been working for them for a year....someone called last night and asked to do a signing for 90.00.. I couldn't believe my ears...I have been signing up with new companies all morning......What a shame..They were one of the good ones. In the past month they have dropped twice.

Reply by SarahBeth_CA on 3/29/06 1:10pm
Msg #109418

If they didn't think they could get away with it then they wouldn't do it. It's a direct result of too many newbies accepting lowballed fees. Stick to your fees and don't contribute to bringing down the business. If they get enough no's they will have to either up thier fees or close thier doors. Let them feel the pinch of the refi bubble burst.

Reply by Roger_OH on 3/29/06 12:51pm
Msg #109399

It truly is sad, as they were a very good company. The poor schedulers who you develop relationships with are caught in the middle, and know they will be losing a LOT of good people. NREIS is cutting off its nose to spite its face; they may see some short-term earnings gains, but at the sacrifice of years of goodwill by turning their backs on a loyal stable of trusted, dependable SAs. Now, as the inexperienved newbies and hobbyists gobble up the lower fees, the errors will increase and WE will be called to clean them up. Eventually, the error rate may upset enough people that some additional states may go to attorney-only, after which OUR original rates will look like a bargain! Guess they will learn the hard way that you DO get what you pay for.

Reply by Stamper_WI on 3/29/06 1:08pm
Msg #109411

Yup...me too

They just called me with the same info. Said the VP came thru yesterday and made the announce ment. Effective yesterday. Just did my taxes and will have to consider if this is worth all this grief. I have been doing this for 8 yrs and right now I am not a happy camper. Gas went up .20 in the last couple of weeks. Perhaps I'll start using that recycled paper of lesser quality to print doc's. Other than that I can't think of anyway to cut my costs.

Reply by jojo_MN on 3/29/06 1:09pm
Msg #109414

I was just called with the same. $90 for e-docs and $65 for overnight. The sad part is I've done SO many for them, I hate to turn them down. He was very distraught because most of the other notaries around the country are turning him down for the now pathetic low fees. I haven't noticed any others lowering their fees--hopefully it won't be a trend. I know the SS aren't getting paid any less.

Reply by Jimmy_FL on 3/29/06 1:44pm
Msg #109436

You get what you pay for!!!!They will learn soon enough that

this is a bad idea.I had another company that I did alot of signings for do the same thing and I charged them $25.00 extra to go and fix other notaries mistakes..But the sad thing is that they will find these cheap notaries to do these signings and in the end it hurts everybody..I don't work for free..

Reply by MARYANNE PANKER on 3/29/06 3:37pm
Msg #109471

Re: You get what you pay for!!!!They will learn soon enough that

I'm in total agreement. Funny, when I said what I usually get for e-docs, the answer was "Well, these are our new fees. Do you want us to take your name out of our system?". Very sad for a great company....they should have done some weeding out first, since they do have a notary rating system!!

Reply by Kenneth A Edelstein on 5/2/06 8:20pm
Msg #117321

PLEASE TAKE MY NAME OUT OF YOUR SYSTEM - BYE BYE NATIONAL

65$ signing or 90$ edoc - not me. Here in New York City we get closer to 7/9 miles per gallon and we drive an average of 5 miles per hour. Time is the issue in addition to cost. I have done HUNDREDS of jobs with National - their schedulers have called me 15 times it the past 3 weeks. To each a firm "Sorry - but my costs go up and I have not raised my prices in 4 years" - "I cannot take a pay cut". My fee here is 75 for signing plus 50 for 2 sets of edoc. The 50 is fair as in addition to the obvious costs (paper toner machine wear) there is always a need for several additional phone calls and/often an extra trip to rush home when the docs are sent. My 50 is for 2 sets of up to 100 pages but I often got "stuck" with 150+ page "monsters" that take more to print and more time to sign.
I TELL THEM TO CALL BACK WHEN 75+50 IS BACK AND TO NOT CALL ME TILL THEN.
To fill in the cash flow I distribute my card to doormen and hotel desks and am happily filling in my time with the quicker and more profitable direct client calls.
IF YOU WANT THE 65 + 25 LOWBALL PAY YOU CANT HAVE DONE A REAL PROFIT/LOSS ANALYSIS OF YOUR COSTS AND THE ALTERNATIVES TO THIS LOW PAY RATE.