All time low for Notary Fees

Ok i knew it was just a matter of time. I saw a signing assignment come in for $25.00. Again for those who thinks taking these small paying jobs don’t affect everybody…just wait until they are asking you to go for $10.00…we have to be unified when hitting the reject button…just saying.

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I saw one come through today for $40, then another $50. Laughed my derriere off at both, n refused the assignment and counter-offered with $150 for each one. I don’t know why I was not the chosen notary… :slight_smile:

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I would like to know where those of you only take $100 + jobs live. A lot depends on your area and how many competitive notaries there are out there. I do a lot of jobs for one bank/notary agency that pays $40-55. I print no docs, most are helocs and I get lots of jobs from them. They are easy. Sure they are lower pay, but you have to look at your options. If we turned down every offer, we wouldn’t have much work. Very competitive here. It is also building our experience and when they do have a bigger signing (like a refi or buyer) they call us first.

Please share your city or state that you live in so we can gage your work offers when discussing pay. I do agree that they could not get their closings without us, and we usually work under pressure and are personally dealing with their clients, so our jobs are underestimated, but lets be real, if you turn down every job that is not over $100, you won’t continue to get very many calls.

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Hi Dennis,

I understand, and I am not saying that we should only take jobs for $100.00 or more. I rarely get jobs for that price anyway. What I’m saying is there should be some limit to what you will take, because the lower you go the more signing agencies will push the envelope. As I stated before what will happen when those nice little $40 & $55 jobs start to decrease because someone else starts taking them for $25.00.

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On the contrary Dennis, if NO ONE will take less then $100 for a refi with e-docs then yes, they will have to pay $100 or more. It’s the low ballers that are causing this mess and snowballing it down hill. You are not comparing apples to apples. You are stating a Heloc that you do not print and you go to the bank. $55 is low but not completely unreasonable for that if it’s not far from you.

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I’m in agreement with @dennis_bissonnette and disagree with @jeangriffin response. The person who started this chain/post: @hasanilevy did NOT state that the order was for a full package refinance loan. Very little info was given. For all we know the $25 was for executing a QCD. And yes, if I am conveniently in the area where the signing is needed and no conflict with my schedule I would accept the $25 for a single document signing. No, of course not, I would not accept such a fee for a full refinance package. @dennis_bissonnette, thank you for what you wrote, I feel that so many of us notaries just moan and complain about low fees, but there are certain circumstances where it’s absolutely acceptable to take less than the arbitrary $100 fee that most notaries in forums have come up with. @jeangriffin, I also agree with you that notaries do need to get paid what they are worth, but we can’t keep ordering notaries around to stop accepting low fees. Every notary has the right to do as they please for their business and if they can live off $60 signings then that’s their prerogative. It’s tough on the rest of us, but it isn’t really just notaries taking low fees that cause this to happen. There are multiple factors such as companies constantly needing to cut costs to compete within the market. Also, instead of complaining about low fees notaries need to stop relying so much on being fed loan assignments by signing agencies. If you’re going to operate a full time business as a notary and more specifically within real estate then you have to get out there and network and market yourself and build relationships. Then you can name your price. @jeangriffin, I get what you’re saying, but in this case your argument to @dennis_bissonnette is not correct as you weren’t comparing apples to apples, either.

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No notary doing this full time can sustain their business at $25 per signing in the long run. Not unless they’re rich and just doing notary gigs for kicks. So, don’t think it’d come to that. I do wish your post would specify what the assignment was for. Because, it does matter.
Each and every notary has the right to make the decision for themselves on what is the absolutely minimum fee that they will take for an assignment.
Everybody has to start somewhere and usually when you start out you start low. Then as you build your book of business you begin to have the luxury to counter or even decline low fees or those set below your business’ minimum.
I find it so incredibly unproductive to complain about fees. And believe you me, I’ve sadly been down that rabbit whole. I’ve done it. But it’s really all quite pointless… unless…
My suggestion is DO SOMETHING about it. Get together with the notaries in your area. Network with them. Sit down over coffee. Build relationships. Find out why they do what they do and what their priorities in their notary business is. Help each other out. Refer business. Brainstorm.

@areizik. I appreciate your comments and value your opinion. However I’m not whining or complaining about just low fees. I’m trying to raise awareness. It should go without saying that this $25.00 was not a Reverse Mortgage that came with 200 pages and needed printing and fax backs. I’m talking to Notaries who understand where this type of fee lies, its in the HELOC category its in the QCD category, its in the Power of Attorney or ID verification category.

But you can’t just look at the type of job and think that $25.00 is reasonable under any circumstance. The price of the job is not the only consideration when taking into account a job for $25.00. There is gas, tolls, wear and tear on your vehicle or if you take public transportation there is the factor of time. I don’t care where you live or how close you are there is some cost involved in leaving your house or business to go out to an assignment. You have to understand that no matter what the job is, at $25.00 it is not worth leaving your house/business because you must factor in ALL the costs to do so.

You can clean up $5,000 or more in a month when taking the small jobs but killing your self and driving down the fees for other notaries will end up costing more in the end.

We must be business minded and view the BIG picture.

I do agree with you though, the power lies in our hands and we have the ability to do something about it. Network, build you clientele, market yourself…I agree!!

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I live in a remote area in California. I see $100 or more signings come through all the time.

The thing that some of us may or don’t take into account is not all of us notaries got into this business to make $$$$$. Some of us got into it for much different reasons. I being one of such individuals. Some do it part time. Some do it for a little bit of extra spending money. Some love doing courtesy signings back-to-back for a lower fee at a bank or a closing company vs. traveling to and from assignments for the higher pay. I’m a full timer and take my business very seriously and I will do everything in my power to make my business viable. On the same token one of the many reasons I started my business is to have the freedom to help others when I’m able. I don’t always take on assignments with the sole purpose of building my bottom line. Yes, some assignments I will take on at cost or at times pro bono. With this said, I’ve never done that to date with a signing agency. That’s a different animal in my mind. And I agree with you that $25 for a HELOC signing is an absolute “no” for me. For a POA, however, if I am in the area and it’s a relaxed work schedule and it’s a company I enjoy working with then “yes” I’d take it. But generally my rule is to do such favors only for companies and clients and friends who I know I have repeat business with and a good working relationship.
The problem that lies in us notaries constantly telling others to NOT accept lowball fees is that most of us will react as ostriches with their heads in the sand. We will react as stubborn individuals. It’s the “don’t tell me what to do” concept. And I agree with them. Don’t tell me what not to do, but instead offer me insight in what I should do to make my business better and stronger. When I started up my business this year I accepted the $60 assignments like there was no tomorrow because I had no other book of business and I did what I needed to do at that time to cover my initial start up expenses. And I don’t regret it. Not for a second. I do regret the anguish and torture I’d put myself through when I’d miss a text notification for an assignment. Happy to mostly be out of that stress-basket-of-a-mess. So, when I saw then and I see to this day people demanding of notaries to not accept so called “low-ball” fees I don’t listen and I don’t take well to it. I understand the why, but then I counter with “why do you care so much that others will take the low paying assignments and spin their wheels?” Let them take those. That means when the assignment for a better fee comes across the airways I will be able to accept it and they won’t because their schedule is clogged with the $60 ones. I get to benefit and do just one assignment and make as much as they make on two assignments. The companies that offer up low fees will always find a notary who will take it for low fees. Or when they don’t they will then in turn accept our counter offer. Either way, I simply don’t think it’s all that important for us to ban together as notaries and decline certain fees. (I take a COMPLETELY different stance, btw, for non-paying companies).

I do agree with you with the concept that a notary should try and make their business so that they set fair pricing and do the math of expenses and budgeting and not just blindly take assignment after assignment. They need to do the math of what works for their personal business goals.

I’m two thumb upping your last three sentences and appreciate the detailed write up response on the rest. The thoughts and topics are endless in our business. If only if there was more time to share info, insights, and expertise in our biz.

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In regard to low notary fees, the blame game can go on forever and we can rationalize the situation ad nauseum. Stop! What we are experiencing is the oldest natural force there is: Supply and Demand. There are too few jobs for too many notaries. Economics 101. Period end-of-story. There are a finite number of signings and there is a conveyor belt adding numerous new notaries every day. U.S. manufacturers went to China and immigrants drive down the price of labor here. Clearly, there are only two things that can raise fees; 1). The notary population shrinks to a point where for every 10 signings available only 2 notaries exist, 2). Organize in such a way that all notaries must receive their assignments from a governing body (call it a union if you like) to ensure compliance with a fee schedule. Easier said then done for sure. But this type of organization exists all around us. Here is a riddle: What industry charges the same fee regardless of the size of the transaction, complexity, rural to urban alike, in every town, county and state without exception and in any economy? Hint: This industry charges a 6% fee. OBTW…they need notaries to consummate their deals.

See my post under the “GOLDEN TICKET” thread @dennis_bissonnette .

As far as CA closings being $100–no question in my mind at all. Met a ton of CA SA’s at the NNA conference–thought I’d come back to Ohio and have a similar experience. No.

I have been reading posts back from 2005 about this “lowballing”. (I try to read everything to learn my profession!) That was 12 years ago! Same pricing, same complaining. Let’s DO something about it. I think my post about what a SS told me is a good start on doing something.

We have complain, complain, complain, complain, complain, but where is the plan to “doing something”???

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You may not initially get calls. But if everyone does it over time it works. I used to accept those fees for 60. The said they will give me volume until i saw on the hud one day where it was itemized. The signing company was getting 300 dollars a pop. Ever since then which is now 4 years later i refuse to accept anything under a $100.00. Tomorrow for example i have a closing at 9am for 150.00 and a 11:30 for $200.00 and one at 1 for $100. Total is 450 and i am probably finished for the day. How many closing would you have to do to make that much doing them at $40. or how long would you have to work to make that much. I am tired of posting on this site about my experience. If you all cannot get the message. not to take lobball fee then you can continue to bus your Ass and work like a slave while these signing company can go play golf on Saturday or go on their yact on the weekend while you sit there every month trying to make ends meet. All the Heloc i do pays me $100.00.There is some companies know not to call me unless its 100.00. Guess what? When that same signing company cant find anyone for 60, they call me and give it to me for the $100. Guys i see it happen all the time. I am so happy i decided the day i did not to accept those low ball fee. I did loose some business at first but overtime it came back and now i do not slave to make a living. I easily do $7,000 - 8,000 a month. And that’s only because i do not accept these lowball fee and i am not working like a slave like i used to.Only you can change it guys. DO NOT ACCEPT THE :LOW-BALL FEES.

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I wish all you you best of luck in whatever approach you take. This is my Full time Job and i do not intend to work for $40.00. IF that the case i might as well go to Burger king where i would at least get medical coverage.

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Experience is the best teacher in this business. Those who get top pay in this business get it for a reason. They know which customers offer them a profit and know how to keep those customers happy, If you start in this business with no knowledge of pricing, no clue as to the wants and needs of your customers and decide that begging for help on a notary forum is your best option, success in this business will be improbable. Also, there is no allowance for errors in this business. If you can’t deliver an error free signing every time, you are not the person to call.

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I always try to determine the Type of signing, #of pages, Scanbacks?, distance and than quickly respond accordingly…or respond immediately and tell them U need more $$ for This reason…in the Comments section …Won’t always work but when u find a signing company that Appreciates your Professionalism, Attention to Detail…they will keep calling U and Offer more $$

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I have been a notary in Montana for a number of years. I decided to become a notary signing agent a few months ago. The average offer I get is $55. I have never gotten an offer greater than $95. I live in a very, very rural state. Most of the notary locations are over 90 miles away, and at least 40 miles from my home. I refuse to accept a signing for less than $150, in order to cover overhead expenses that include ink, paper, work/travel time/vehicle, training/certification, insurance, etc. The signing company reps act like I am being ridicules and, I assume, move on to another NSA.
I’m just not sure how to proceed.
What are your thoughts/suggestions?

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Excellent response!! And since you are doing less it makes for less opportunity for mistakes/errors wink: so even more reason for the clients to come back to you/us time and time again. Low-ballers are spinning their wheels doing many more a day to make ends meet giving 10x the potential for errors and making peanuts and just might be taking years off their lives in stress…especially if they live anywhere near like I do. Metro areas with high traffic are hellish in this biz…Thank you for the great insight!

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Sadly, I was informed yesterday when I tried to negotiate a higher pay than the $25 they offered (!) that there were 92 other notaries in a 10 mile radius they could call… YIKES! That’s a lot of competition. Got it up to $45 - and now with all the hassle this weird one has been - it’s totally worth $100.
Lesson learned. May be doing less work in the future, but I gotta know my worth.

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92 other notaries and YOU were the lucky one that they called for this $25 job? Maybe the other 92 had already turned them down and that’s why you got it up to $45.