Message from ServiceLink - Real talk!

Today, I received this email from ServiceLink. “Hi Carl, You were advised on 2/6/25 that you are on HOLD because your fees are 90.00. You will not get any business with those fees in any case
Thank you, Kindest regards !” This was my response back - “Hello…,
Over the course of my tenure with ServiceLink, my average fee has been approximately $127.00. All businesses are being impacted by the increased costs to operate in the current economic conditions. While I acknowledge that ServiceLink has reduced their fees to capitalize on the oversaturation of new, inexperienced loan signing agents in my geographical area. I would like to point out that other vendors recognize the value of my ten years of experience. I am a valuable asset to most companies’ scheduling teams. It is my expectation that ServiceLink will reconsider our historically profitable relationship, in which I have consistently performed error-free assignments and provided high-quality customer service, and subsequently reactivate my profile. However, my fee structure must accurately reflect my operational costs and desired profit margin. It is regrettable that ServiceLink has adopted this position. My services remain available to ServiceLink’s future requirements, contingent upon a mutually beneficial arrangement. We must each prioritize actions that support the long-term growth and profitability of our respective businesses.” Sometimes business relationships take different paths and that the nature of business. ServiceLink business objective is to be profitable, if they can get LSAs to perform assignments at fees lower than $90, my business model will not be a good fit for their profitability profile. Yesterday, I just completed a hybrid refi assignment for $250, 28 miles one way travel, printed 35 pages total. So, it would take more than 3 to 4 ServiceLink signing orders to equal that one assignment. It doesn’t take a rocket scientist to do the math and see losing of one vendor sometimes is not a “loss”. Post Covid pandemic era, some companies have chosen take advantage of the oversaturation of loan signing agents thus reducing their fees. Until there’s a market correction, some companies will continue this type of practice. There’s a better way to run a business to stop companies from these types of practices.

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@cfletcher :tada: Hear! Hear! :tada:

Thank You for precisely demonstrating & sharing why It’s important to know one’s Worth! :white_check_mark:

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:swan:

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ServiceLink used to pay my fee of $125 when I started 19 years ago…about 16-17 years ago they called me with basically the same message…you’ll never get any calls at that rate - they wanted me to lower my fee to $85 - I reiterated my fee was $125 and end of conversation

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Quick fact: It’s a game they’ve played forever. You take less, then they contact everyone else with same deal. Race to the bottom!!! Winner loses big time. And if you don’t bite, you’ll still get jobs at your fee. Adding much later… I love the professionalism you provided in your excellent letter to them. Sadly, I’m sure it’s been said to them many times in many ways, but they like their game too much to stop.

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Very true! I still work with Service Link - not often, but sometimes. They call me, tell me about the assignment and I give them my quote. Usually, we do business, not always. My fees are always triple digits unless handling a single very small doc within a 5-mile radius from me.

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Verynwell written. Bravo.

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Interesting that they played this tactic with others. I received the same email wanting me to reduce my fees by 25%. Granted, these are my fees established with them in 2019. I did a deep financial forensic research on my business. My supplies have increased by 30%. When I take that, my milage, insurance, cellular plans, technology, licensing and taxes into consideration, I’m making less than minimum wage…based on my fees from 2019. So no. I will not accept a 25% reduction. If anything, I will be increasing my fees.

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Outstanding response. Last year in CA, many of us received an email telling us that ServiceLink anticipated an increase in the volume of work in (insert name of city) and they looked forward to sharing the additional work with me. HOWEVER, a Notary in my specific area was charging $50 for HELOCs and I “might “ want to consider reducing my fees in exchange for increased volume. What?! Let’s say it together, “price-fixing”, “market manipulation”. After a couple email exchanges, which got the VP of Vendor Management involved, I simply asked them, “Why would I accept less money for more work?”. Their response was that they were attempting to be transparent and were doing me a favor by informing me of fees in my area. To date, I have not lowered my fees and I still receive assignments.

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@daren Absolutely! :white_check_mark:

At those rates, many would be PAYING to provide the Professional Services! In other words, their out-of-pocket expenses are MORE than the Fee received for providing the Professional Services.

Not a positive decision for any business owner as it brings FAILURE/BANKRUPTCY.

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For Notary Cafe members who haven’t yet created their own individualized Schedule of Fees, Review this direct Notary Cafe url thread Guideline for Creating Your Schedule of Fees

:swan:

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@daren Spot on! You nailed it – if LSAs keep taking those super low-paying jobs, it’s a recipe for disaster. Short-term failures can be a great teacher, only if LSAs quickly learn from such situation and make the appropriate corrections.

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Good for you. Our work matters but no one cares about your value, but you. If more people responded as you did, then they wouldn’t be able to expect low prices . That being said, you are not a volunteer and know your worth.

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I get calls from service link a lot, they tell me what they need and I tell them my fee. I get okay I will try and get that approved and send it to you. I don’t always get them and move on. Does not bother me as I get others but I am not going to conform to their bully tactics, like everyone on here says It costs us to much to do it in the first place and make less than minimum wage for it. Our time, gas, supplies and travel. All ads up.

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@clarlm1059 :partying_face: Excellent Business Philosophy! :partying_face:

:swan: