Are new notaries able to get work with the signing companies? Do they require experience?

[fifthimp]

Hi,

I’m a new notary, and I’m interested in getting work from the signing companies. I’ve taken training courses. I also have experience working for title companies, but not as a notary.

Will I be able to get work from the signing companies? Or, are they only willing to work with people who have more experience?

[Arichter]

Obviously, the answer is yes as we’ve all been new once. Eventually some co. will give you a job. While you’re waiting for that to happen, you MUST do a lot of work to be prepared for the nearly inevitable low offer. Read this and other forums to get a clue about all the loan variables possible and while you’re not under pressure to provide YOUR fee—figure out what fee would be PROFITABLE for each type of loan plus all the other variables. Also travel time & mileage can really impact profitability, so you need to figure that out for every area you’re willing to travel to. Package size, faxbacks also impact profitability, so know your costs. Make up a chart & keep it handy because once you’ve put yourself in the bargain bin with any co—that’s where you’ll stay.

[milanrho]

Hello, I’m a new signing agent and I’ve read that we are not supposed to discount our rate because it makes it hard on the notaries that have much more experience.

[Arichter]

That’s not the problem at all. An experienced notary simply won’t agree when a fee is not profitable (and some of the fees I’ve seen ‘offered’ are truly pathetic). The problem is for the new signing agent who accepts a low fee, hoping to be able to prove themselves or gain some experience or even ‘get a signing’ and so be able to increase their fee to a higher PROFITABLE level. This will not happen as once you’ve PLACED YOURSELF in the bargain bin, you will not be able to get out as ‘the low fee WAS accepted…and that’s all we pay’.
Oh, sure, you might be able to get them up $5 or $10, (odds are they’ll just move on the the next newb) but you’ll never get them to where the fee should have been in the first place. They know this game very well and use it to prey on new agents all the time.

[Abigail]

Hi,
I don’t know what state you are in (not that it matters) but if you have a membership to the NNA (National Notary Association) that is a very helpful site. Most title and signing companies want at least 2 years of experience…(unless that has changed). Watch out for the signing companies(not all are bad) If you happen to be in Arizona Id love to sit and chat with you! you could even send me an email and we can chat that way! I am self taught and believe me I have made a ton of costly mistakes.(I guess that is why I have the passion and push to guide other Novice Notaries) Someone commented that we were all New Once!!
If you want to reach out to me please feel free I am at abigailsnotary@gmail.com or call/Text me 602-329-0781
Good luck
Abby

[Abigail]

Oh I forgot to mention I have been doing mobile signings since 1997!
Abby

[milanrho]

Thank you. I’ve been a notary off and on with different companies that I worked at, but just got my signing agent credentials last quarter of 2018. I have done 2 signings - one for $75, the other $100. I put together a flyer to promote myself to the title companies in my area, one responded with a package of paperwork to fill out. They require $100,000 error and omissions insurance (I currently have $50). Is there anything else us newbies can do?

[stephaniemartin1014]

I am a new notary and haven’t been able to pay for the NNA or LSS courses Cost is high! but I did create business cards to pass out a website and signed up with other signing companies. No work has been offered yet i’m sure its due to not being verified.

[cNsa5]

@stephaniemartin1014 Sorry to read about your difficulties receiving Signing Orders [SOs] from business entities.

Truly, launching a business within this business sector of the industry (like many entrepreneurial businesses) is a slog to get things going regarding SOs.

The YouTube videos hawking “it’s EASY PEASY to make $100K/year” has been debunked repeatedly . . .

Unfortunately, folks do still decide to “invest” in the used car salesman tactics of bait & switch! They tell you if you’re not receiving SOs to just launch a Signing Service & you’ll be living in a McMansion next week . . .

UGH!!

======

This segment of the business industry has been in a strong downward spiral regarding volume of SOs and increasingly LOWER fees for many years, but especially since ‘post-COVID-19,’ etc.

I and the other sages on the Notary Cafe forum regularly endeavor to help new forum members grasp the reality of the unadulterated truth of the current state of this business sector - myriad variables in the financial & real estate markets are negatively affecting this industry.

======

I’ll share a few helpful threads to provide you with excellent insights & guidance to help you make a viable business decision at this juncture. The data within these threads is not only helpful, it’s valid & has held true to many members across the entire US.

Here goes . . . as you’ll easily see there is clearly a plethora of data immediately available to assist in this regard. Here are only a few of the available helpful threads:

Temper your expectations

To preface this, I’ve been a lurker on these forums for quite some time and I’ve noticed a ton of expectations lately that seem too unrealistic. I’m a NSA out of Michigan and have been one for the past 7 years. I usually pull in at least 8k worth of business every month but it takes a LONG time to get to that point. I see a ton of newer notaries looking to make fast money or expecting SS or TC to come to them over seasoned notaries while they have very little experience. A few tips that I’d sug…

Must You Complete A Training Course To Get Work?

I concur with the insights of LindaH-FL & mannie1950 (return to the teaching industry). Also, there are 2 recent posts by CherylM that leave the sugar-coating behind & Tells-It-Like-It-Is . . . Truly, anyone entering this business sector needs to change their mindset from that of an employee to that of a Business Owner. It’s a completely different paradigm and is managed differently as well. Best Wishes with your decision.

Starting to hate doing this work

I am just beyond frustrated with this industry. I do this as a part time gig to pay bills, I teach full time, but this industry is just asking for too much and pays too little. They really want me to do a refinance for 100 bucks that has 200 pages and want me to travel there. ALL the signing services are paying less. A refinance no matter how big should be no lower than 100 but these services constantly yelling me te the average is $80. Gas prices in my area are $3+. What idiots are out here doi…

I need help with calculating the true costs of doing business

It would be in your best interest to jot down all of the expenses associated with performing the services you provide within your service region to determine a baseline operating cost. Then, at that point, you can calculate the fees that will generate a net profit to determine if you’ll have a Profit or sustain a Loss at that rate. There are many items to consider within your Overhead calculations. Here are a few to get you started: • telephone expenses including cell phone equipment and month…

Finally..a reality check as to how much a notary earns

The NNA has completed a survey of income. Here’s the link: How much can I earn as a mobile Notary or Signing Agent? | NNA

2023 Notary Survey Results: In a slow market, Notaries stay strong by...

My Initial Tips/Advice to New People

I hope the following helps you getting started If you’re going to set yourself up as a business, go to irs.gov and get an EIN - takes 5 minutes - NEVER NEVER NEVER give your personal social security number to anyone - use your EIN for all your notary work, including using it to report your notary income on our tax return; Set up a separate checking/banking account for your notary income - keep your personal finances and your business finances separate; Get some business cards and start …

Not Receiving Signing Orders & Wondering How to Check the SATURATION in Your Region?

Success (or the lack thereof) is HIGHLY dependent upon the location/region of the US for your home base. It’s a really GOOD idea to Research the “Find a Notary” segment of this website for the existent saturation in one’s current region. Here’s an image of that component of the Notary Cafe navigation ribbon: [image] Remember to access the EXPAND section for defining additional details: [image] The results from this Research you perform will be of great assistance in your business decisio…

Assignments

@realtydocusigning No, you’re not doing anything “wrong.” As with most businesses that are starting out, it’s a SLOW process. In general, most do find building a business within this business sector to be a MARATHON, not a sprint. Well, that is unless you live in a region that isn’t already saturated with Trained, Certified, & experienced Notary Signing Agents [NSAs] who are also seeking out Signing Orders OR if you have a family member who works at a Title/Escrow Company [T/EC]. …

I found a list of MISMO approved RON, RIN, and IPEN providers for emortgage closing!

Touche! What we’ve been saying over and over again here. It’s not that we don’t want to help - but each “newbie” (hate that term) has to help themselves.

.