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8702
California
8 Posts |
 Posted - 11/08/2010 : 4:48:33 PM
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Your not the Captain and certainly not steering this boat. Notaries are sailing in shark infested waters. Companies and Notary Closing businesses negotiating lower fees with title companies competing for their business. All you can do is set your price and live with your decision. I probably turn down at least $300. to $500. worth of business a month. Because as sure as I am typing this. If you commit to a low paying closing you will get another signing call for around the same time in a different city for more money. I will let these companies know up front that I won't put the key in the ignition for less than my minimum and then say good-by and hangup. There will always be another notary who is lacking the experience and understanding of what professional closing agents are required to perform.
Many of us who have stuck it out now see our fees being compromised. Stand your ground without going hungry and keep up the great work because that in itself has repeat business. |
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dbillman
Florida
29 Posts |
Posted - 11/04/2010 : 11:16:18 AM
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I have not been getting as many really low-ball offers as I have in the past, but last week was an eye opener. I was called on Sun, Halloween night at 9:30 pm for a "last min closing that had to be signed that night and was only 60 miles away" for $75. When I declined, they stated they could give me $100 because of the hr and the distance. On a positive note, they understood when I had to decline again. On a negative note, they did not ask what price I would do it at. Must mean they knew they could find someone else to do it at that price. Not sure how we turn this boat around.
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DianaNotary
California
171 Posts |
Posted - 08/17/2010 : 4:34:16 PM
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Wow, $50 project is not worth the time and effort to close the deal. Lately, I had a couple of signing companies offering this fee, and I just blocked their phone numbers, so I don’t waist my time on the cheap call. Seriously, such a low fee for the loan is not acceptable, even during these hard times.
http://www.DianaNotary.com |
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joanbergst
California
360 Posts |
Posted - 08/10/2010 : 8:16:32 PM
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I think Shannon is correct about the increasing loan signings in CA.
The signings are going to be better in South Orange County than they will be in the Inland Empire, where I do signings.
With that said, I have had more calls in the last 2 months, for loan signings, than I have had since 2007.
CA has lost almost 65,000 notaries since 2008 and I am sure we will lose many more thousands, in 2010, and that gives the notaries who are still commissioned many more opportunities for notary work.
http://www.joanbergstromnotarypublic.com
Joan Bergstrom
24/7 To Riverside & San Bernardino Counties.
CA State Notary Exam Instructor For www.notaryclasses.com
www.joanbergstromnotarypublic.com
joan.bergstrom@yahoo.com
Cell: 951-522-4919
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Shannon
California
360 Posts |
Posted - 08/08/2010 : 2:13:08 PM
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Since April of this year [2010], I have seen my business increase to levels not seen since 2006. Perhaps this is only the CA market but with re-fi's booming I've seen absolutely no price reduction...in fact, I'm being paid more on average per deal.
Last Thursday, I arrived home at what I thought was the end of my day after completion of three signings at about 5:30PM. I received three consecutive phone calls ordering 7 signings (all at $175.00 pricepoint) to be completed over the next 5 days and a pair of piggy-back signings for that night (for $300.00).
I have avoided signings in the $50 range somehow...those who call me know I charge $25 just for printing and my Orange County Signings are normally $150.
Any Notary Signing Agent that has been around long enough to stay in business more than one year knows that you cannot survive if you charge $50 per signing. Those who accept such work consistently will not be in business for the long run. $50 signings are a great way for newbies to "cut their teeth" and learn the do's and don'ts. Any hiring entity that offers $50 for a signing will receive exactly what they have paid for=less experience, less professionalism and more mistakes.
"A Quick Note"
www.aquicknote.net
Follow me on Twitter:
https://twitter.com/aquicknote |
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KanDoNotary
Oklahoma
69 Posts |
Posted - 07/23/2010 : 8:35:05 PM
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Like Copperhead, I've been evaluating my offering signing agent services under the current devaluation mindset. The job I did today was a real eye-opener.
The job today required me to not only print off the .pdf files of 200+ pages (separate borrower, title and closing files), but to make three copies of the HUD and attachments, then fax back 10 pages. I realized as I was preparing the docs that I was making the copies that would usually have been made at the title/lending companies for their files. After 1.5 hours printing the various .pdf files and the extra copies, driving through construction zones to the borrower (not used in the calculations of "it's only 20 minutes away"...from my post office box address), having the borrower go through each page to correct an incorrect middle initial (1.5 hrs) back to my office to fax, then to the drop, I realized most of the day had been spent on one closing. Now I get to wait at least 30 days for payment.
I, too, remember the days of overnight packages with fees of $150 to take the 100 or fewer papers to the borrower, then to drop the provided return envelop package at the appropriate courier.
I know those days are gone, and that everyone is trying to "get the best deal." But everything has a cost and nothing is free. The plumber doesn't let me tell him how much I'll pay. And the borrower doesn't tell the lending company how much they will pay for the loan I'm closing. I like to bargain also, but I know I have to pay for value received. |
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CopperheadVA
Virginia
420 Posts |
Posted - 07/16/2010 : 3:59:29 PM
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Karen, I have been getting extremely low offers lately as well. Not as low as $50 but still pretty low. I'm just at the point where I am so disappointed and disgusted and am really feeling hopeless about this business that I used to enjoy working in.
What these companies don't seem to get is that our services have VALUE. The notarizations themselves have VALUE. Printing docs using our equipment is a convenience for the TC, SS, and lender, and this service has VALUE. Traveling to the borrower's location has VALUE. Making sure everything is properly signed and notarized and shipped back in a timely manner has VALUE. For these companies to routinely offer $50, $65, $70, or $85 is a slap in the face.
I used to get $150 all day long just two or three years ago. I have already lowered my fees 20 - 30% just so I can keep working. I have lowered them to the point where I am not happy but I can deal with it. I will NOT go any lower, yet I am continually called with ever lower and lower offers.
I have found that a typical loan package in my state has 10 - 12 notarizations. I can charge $5 per notarization here in VA. So the VALUE of the notarizations alone is $50 or $60. Am I supposed to print, travel, and provide signing agent and shipping services for free??? UGH!!!
Like I said, I am feeling utterly dejected about how low these companies expect us to go.
CopperheadVA
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Edited by - CopperheadVA on 07/16/2010 4:00:45 PM |
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Lee-AR
Arkansas
678 Posts |
Posted - 07/16/2010 : 08:15:30 AM
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As an oldie, I can tell you that 'back in the day' when all packages were overnighted--they paid more than you were just offered. Matter of fact, when edocs first began, $50 & sometimes more was the going rate--just for the edocs, then your normal fee was added to that.
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n/a
New Jersey
1 Posts |
Posted - 07/15/2010 : 10:28:05 PM
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I've been a member for a while, but haven't posted much, but this is the 2nd time in 1 wk that i have TURNED down an assignment for $50.00. Not to mention both areas were at least 30 minutes and during rush hour that adds more time.
A known signing company who I've dealt with for many years tells me their price for Edocs is $50.00 for re-fi's. I know the economy is not well, but heck, I have expenses too....$50.00? that was back in the day when the borrower was over-nighted the package, no printing dupe copies....ect...Am I dreaming? Is this happening to others? I would really like to know.
I'm in NJ and if the company's map says its only 30 minutes from your area it shouldn't be much of a travel....yes, I understand they are looking at a map, but I'm at the Jersey Shore and when you want me to travel to Long Beach Island on a Friday afternoon in the summer for $50.00???? I do ask for my fee and stick to it, my services and time are worth that much, which of course gets the comment "we'll keep you on file when something else comes up in your area" I just don't get it, I'm sure someone else took the job for $50.00, so sad...I could use the money too, but I won't lower myself and the last 9 years of experience to that. I've been doing this for over 9 years now and I respect this business. Anyone else getting lower fee's offered?
Karen Jarvie |
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Seriously??? I was offered $50 today
