By all means, not trying to be harsh here, but rather trying to “bury the dead horse” on this topic. I can’t see how an NSA can be efficient, effective and fluent in this business if they are not up to date and keen with what goes on in the economy and mortgage industry as a whole, and how the two effect each other. ANY Notarial service is not a WANT, it’s a NEED (when you actually need it). We don’t offer tickets to Disney Land (a WANT), but we do offer, lets say insurance (a must have when you NEED it), but don’t necessarily WANT it. So expecting someone WANTING something they don’t NEED is in fact, “beating a dead horse.” The price of gas/energy goes up, SUV/Truck sales goes down and people start shutting off light switches and switch from propane/natural gas to charcoal on the grill. Interest rates go up, Purchases/REFI’s go down. Lack of inventory raises demand, but it also inflates prices (making it less affordable in addition to the higher rates). In the meantime, do I pay off debt in these high inflation/interest rate times, or just survive where I’m at, or take on more/new debt by buying/REFI-ing)? Each individual borrowers situation/credit is unique and doesn’t come with a crystal ball. But following and understanding what’s going on economically on a national level tells the bulk of the story.
The Notary business, and it’s sibling NSA business, is slow due in part to the saturation of Notaries in any particular area/region. Any one can get a notarization done just about anywhere. NSA engagements are far more sensitive to economic conditions.
Since the NSA business is a commodity, TCs and SS will target the least expensive option, since what we do is functionally indistinguishable from every other NSA. Value added services play little in this business.
The opposite is true if your offering GNW/NSA as a value add to another business you’re operating. My GNW/NSA services are a value add to my Tax sevices.
Gee, maybe we should all move to TAXES.
Taxes = Texas, get it, hahahahaha (I sound like borunda)
Agreed (to a point). “Saturation” is dependent on the product/service you are looking for and whether you want or need it. “I want ice cream, but I need soap.” My area is saturated with stores that sell both. In this case, “saturation” will not prevent me from finding both ice cream and soap. Saturation plays a factor when “demand” for a particular product/service is low, but everyone sells it. I don’t know of anyone who “wants” notary services, and “needing” it is not a shared, common need. So yes, saturation is our enemy on that front.
Texas = Taxes when it comes to property taxes. We don’t have a personal income tax so the cost funding the government falls on your property.
Once you pay off your mortgage you still don’t ‘own’ your property. Stop paying your property taxes and see who’s living there.
Notary services are never a ‘want’, they’re always a ‘need’. Notary services, especially Mobile Notary Services, are a commodity. When the market is saturated with Notaries the price for mobile notary work goes to the lowest bidder. Too often the engagement offer is below the operating cost for the NSA. Many of the offerings I’ve seen lately mean I’m paying the SS or Title company for the closing.
Yup! I think this applies everywhere!
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