Low Ball Fees, why so many?

Hello,
I am a newbie in AZ. So far I have received 3 offers all low ballers. $60, $80 and actually the other asked me. I gave them $175 because they wanted me to print over 200 pages, fax back and travel quite far. They turned me down very quick. I am frustrated. Signing up with all 4 and 5 star companies but so far none have called. Who can afford to work for $60-$80 dollars?? It doesn’t make any sense.

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Well, interest rates are higher or no lower than what a borrower already has, so no benefit to a refi…meaning business is very slow. LOTS of both experienced & newb notaries out there looking for work; some more desperate or ignorant than others. With the advent of ‘platforms’, it’s not that time-consuming or costly for hiring party to just keep shopping/spamming via text or e-mail to multiple notaries until they find a bargain-bin notary.

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Thanks,for,the,input. I guess these folks have no business sense, or perhaps access to free paper and someone else’s car and gas. They are spinning their wheels. Still waiting for my first signing but I will not become known as the one to call cause I’m cheap. I have a good day job, I can wait for the right one.

Unfortunately, other notaries in your area who came before you are the ones taking these fees. No one pays $175 in my area which is Salem, OR. They pay twice that in California, but not here.

Fees are low because people accept them.
In my opinion you can’t be profitable working only with signing services. You have to get work directly from title companies and lenders and get paid the full fee that they would normally pay the signing service.

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Generally what is the normal fee direct from the lenders? I realize it can differ.

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That’s the hard part. Pay ranges from $150-250. And you can’t sell yourself short. And what is messed up is escrow/title will most of the time not tell you what they pay. Theyll ask what you charge. So let’s say they do pay $200 but you say $175, then they will pay you the $25 less. Messed up right? But if you are over $20, they will decline you. And you may be willing to take the $20 less but how exactly do you know how much they pay? I try to ask “How much do you guys pay?” and they will respond with “How much do you charge?” It’s like why are you asking me if you already have a price in mind. They’re just trying to get you to sell yourself short. How about you tell me what you guys pay and let me decide if i want to take it. Which is stupid because borrowers pay for the Notary Fee not escrow or title. I’ve been fortunate enough to “sell myself short” and I get back with a “I will get you more money.” At this point, you just have to ask yourself what it is worth it for you. No less than 150? No less than 175? You gotta see what’s worth for you. But it is a kick in the groin if you find out they were willing to pay more.

This happened to my friend once…he said he would do a signing for $150. When he gets docs, he sees on the settlement statement that says Notary Fee $225. HE MISSED OUT ON $75!!! So they just refund those $75 to the borrower. Messed up right?

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Great information.
Just a note about the notary fees. A title co I did quite a bit of work for told me that one of their biggest clients, a lender of course, told them they had to lower the notary fees because they wanted to advertise their closing fee as “lowest in the area” or something similar. So this awesome title co (smallish) had to go with what the lender wanted.
Another situation—I was CC’d by accident a few months ago by a title co. She was writing to the borrower (business transaction) and asked him if my fee was a “deal-breaker” because I was higher than the notary who they used last time in a different city. Title trying to keep the lender/borrower happy–yet again.
JS…title co’s are under pressure to keep fees low also. The title co’s didn’t fight back when they were told to lower fees, now we are trying to push back. It always starts somewhere.
Also a note about CA fees & the other post–if you mean double $175, then you mean $350? If so, they are not making that in CA. I talk to a veteran closer there and if it’s within about 10 miles of her house she’s getting no more than $175-$200 unless it’s a round table–then it’s double–and of course extenuating circumstances. So it’s not the entire state if anywhere at all because she lives in one of the top 5 most affluent cities.