Posted by Pam/NM on 3/1/13 2:02pm
Msg #458773

$10 extra...it's the principle

Accepted a closing for Monday night. Confirmed with borrower. Rec'd docs already. Opened the package and it was 171 pp. Called and requested $10 extra for pkg size. OK, no problem--we'll take care of that (verbal). Confirmed via email that I had docs and noted there would be an additional $10 added for pkg size. Five minutes later got a call. They were cancelling appt with me. Well, alrighty then.

Reply by Lee/AR on 3/1/13 2:03pm
Msg #458775

Agree...it's the principle! n/m

Reply by CopperheadVA on 3/1/13 2:07pm
Msg #458777

I received a package today and there was an attachment with the appraisal, along with instructions to print it and give to borrower. I immediately sent an email stating that printing the appraisal was not disclosed to me up front and is not included in my fee. I gave them the choice of paying an extra $25 for me to print the appraisal or waive the requirement. They sent a revised fee confirmation with the extra fee. I was fully prepared for them to pull the order from me but they didn't.

Reply by Notarysigner on 3/1/13 2:07pm
Msg #458778

They went dumbster diving..LOL n/m

Reply by Notarysigner on 3/1/13 2:08pm
Msg #458779

Re: They went dumpster diving..LOL n/m

Reply by Pam/NM on 3/1/13 2:11pm
Msg #458781

Dumbster diving ;)

You had it right the first time! Haha

Reply by Linda_H/FL on 3/1/13 2:14pm
Msg #458782

LOL...yeah...he did.. :) n/m

Reply by Teri_PA on 3/1/13 4:14pm
Msg #458795

Re: $10 extra...it's the principle- Food for thought

I have a different point of view. I am premium priced, so I don't nickel and dine my clients (exception is, of course, vendor management companies). I don't ask for for money when there are a ton of pages, and I don't ask for less when the package is small. It works out in the wash on repeat business. I have survived a long, long time by pricing myself to make a reasonable profit, mixing up vendor management companies and regional title companies, so that I always have work of some nature, and not being a problem. I don't accept unprofitable work. Most of the packages from my regional title companies are $150-200 pages. It is the nature of brokered loans, so I would never ask for more money. I already get quite a bit for these jobs and my pricing reflects it. When they are small packages or close to home, they make up for the big packages far from home. Since I live in a populated area, I have a lot of competition, and I find that being a troublemaker is a sure way to have no work. Just another point of view.

Reply by ananotary on 3/1/13 4:49pm
Msg #458806

Couldn't agree more n/m

Reply by MW/VA on 3/1/13 8:04pm
Msg #458840

IMO, it's about more than the principle, it's about not

being willing to take a loss on the cost of printing, time, extra time for signing, etc.
I routinely charge $15 more for anything over 140 pgs. I've had very few cos. not willing to pay the extra fee, since most don't know the pkg. size when they send it. Too bad that co. didn't think that was a reasonable request to make.

Reply by droman_IL on 3/1/13 8:32pm
Msg #458852

I would have double-sided the borrower's copies

and kept the appointment. If they don't want to pay the extra for you having to use more paper, then use less

Reply by Teri_PA on 3/2/13 2:07am
Msg #458879

Re: IMO, it's about more than the principle,

Paper, although a major cost to us, and we are all careful to buy it as cheaply as possible or get it free through rewards, is not the major driving force of our cost factor. It is gas, wear and tear on our vehicles and our equipment. Our product is our time. In my neck of the woods, tolls are a huge factor. If I go 30 miles, I can wrack up $24 in tolls. I factor all of that into my pricing scheme, making sure that my hourly charge covers the averages. I don't have a set dollar amount I won't go out the door for. I have a $/hour charge that I factor in when I take a job. I know the pay scales of what every company will pay, and if the job will fit into that range, I'll take it (so, I will take a TitleSource job close to home, even if Chase where we make two copies for the price of one, for their fee, but I make sure it is not an investment property, since I won't scan and send back everything at that fee unless it works on my hourly scale and will generate a profit). Sometimes it is a very nice profit where everything goes fast and smoothly. Sometimes it is a negative surprise (readers, thick packages, traffic nightmares, weather problems), but watching overall costs and not nickel and timing, assures me of a continuous client base (The exception again are the vendor management companies who will pay more for fax backs, etc. based on their scale, and you definitely want to get every penny they are willing to pay). Again, just my opinion based on 15 years of experience in this business...

Reply by JanetK_CA on 3/4/13 1:38am
Msg #459064

Two great posts here, Teri. Thanks! n/m

Reply by Barb25 on 3/2/13 3:08pm
Msg #458936

Re: $10 extra...it's the principle - or not!

I think everyone needs to set the criteria for their fees at the beginning. I.e., $xxx for a package up to 150 pages (whatever) extra xx 50 pages. Tolls additional. Whatever.

I probably would not have asked for more but made a mental note. If I did ask for more and they said yes and did what this company did, that was tacky and I would be done with them. If in fact they went to find someone else based on the fact alone that you asked for $10. They should have said I cannot. But in the future they would take into consideration OR we will reassign it. Not play a childish game.

Of course, everyone has a right to run their business how they see fit. And we all have different ideas. This is just a venue to voice the ideas. And for me. I learn alot and sometimes it is good to hear how other points of view.