Whitney Prossner
Title Processor
Uptown Title LLC
710 94th Ave. N, Ste. #305
St. Petersburg, FL 33702
Ph# (727) 258-4745
Fax# (727) 258-4754
Cell#(727) 631-9691
I received an email request for a RM last night. Whitney couldn't meet my fee, and asked if I could recommend someone else. I said that I couldn't do a reverse for XXX and did not know of anyone who would that I could recommend. Things ended on a perfectly civil note.
Then, this afternoon, I get an email from someone named Adrienne Prince, using Whitney's email. The message said only, "so the economy must be booming..."
That came across to me somewhat snotty and rude and here's what I wrote back:
"Good afternoon, Adrienne:
I find your comment rather flippant. Was that your intention? Are you implying that I should be grateful for the offer of the XXX and snap it up? I don't believe I need to justify my fees, but if you would like me to break it down for you, I will.
First, I am an attorney, as well as a notary. In addition to an increased service level, there are costs (borne by me) associated with maintaining my bar licenses (yes, more than one) and continuing education.
Second, a reverse mortgage takes more time to prepare than a straight refinance. The packages are significantly larger (and printed twice) and there are incidental office supplies that I enclose with each package (envelope for the borrower's package, clips for the lender package, and business cards for the borrower should they have any questions after the closing.) This is in addition to the paper and toner costs and costs of having and maintaining the equipment possible to print these documents.
Thirdly, there are travel costs. Fairhaven is 30 miles away and travel takes approximately 45-50 minutes each way. Fuel costs, vehicle maintenance and insurance all add up.
Finally, there is the time involved. As an attorney (doing non-real estate work), I charge $XXX per hour. Not including printing, coordinating with your office, confirming with the borrowers, and traveling to and from, the closing itself takes a minimum of 45 minutes to an hour (typically more with older people taking a reverse). As a professional yourself, I know you understand that it isn't possible to work for free. I'd love to volunteer my time, but I'm not independently wealthy and have bills to pay. It's just a fact.
I've established my business model and determined what my fees need to be in order for me to make a profit. I'm sure your office has done the same. If you cannot meet my fee in order to make your profit, then you just move on to the next attorney and hope you have better luck.
Thank you for your time,
Kelly"
In retrospect, the last line would have made my point more succinctly if I had said, "move on to the next attorney, who perhaps will assign different values for the variables above and you'll have success.
I think I just needed to vent a little. Her email rubbed me wrong...
|
