It’s really sad because I have noticed these loan packages are getting bigger and alot of Title companies, Lenders, and Signing companies are DECREASING our pay. We deserve more respect in the industry and definitely better pay due to our current state of inflation and the situations we deal with on a daily basis.
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Exactly. it again! We need to talk about it more and keep talking about it.
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My sentiments exactly. I have wondered if there could be a notary union to go against the low ball pay that we are getting. Somebody have to help us in this situation as without the notary, these closings do not occur.
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Independent contractors really can’t unionize. But, if they could, what, exactly, do you think would happen? This is NOT a ‘one size fits all’ job. Meaning, no, I wouldn’t drive 25 miles for a Rev. Mtg. w/scans for $150, but I would walk across the street for 10 pages for $50.
The only way to get higher fees is SAY NO TO LOW. To do that we ALL have to figure out what profit we need to add to expenses. Then, we ALL have to say no if that figure isn’t met or exceeded. It’s really that simple…and that hard to do.
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Concur with @Arichter 's suggestive above. Here’s a GREAT technique to execute the process efficiently.
===>>> Here is a guideline for those new to this business sector that is quite helpful to create an individualized List of Fees for professional services provided in our industry . . .
NOTE: Current IRS mileage rate is = 65.5 cents/mile
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 monthly service fees
• office equipment and furniture; i.e., work chair, work desk, reliable dual-tray printer, trustworthy scanner, etc.
• Notarial stamps for Jurats, Acknowledgements, Notarial Name, Commission Expiration, etc.
• rent and utilities
• paper
• toner
• binder clips
• pens (inexpensive for one-time use)
• stationery and supplies including stamps & envelopes
• travel costs to & from signer locations (i.e., create a generic by county list)
• travel costs to & from FedEx/UPS/USPS, etc. (i.e., choose your favorite location OR the closest that will provide you with a receipt)
• business insurance
• business-related meals and entertainment
• professional association memberships
• annual background checks
• annual certification expenses
• legal and accounting fees
• tax preparation fees
• advertising and marketing costs; i.e., Google ads, yellow pages ad, website, business cards, or brochure
• Protection equipment; i.e., COVID-19 masks, hand sanitizer, wipes, etc.
AND many more!
Your individual overhead would also include the cost of fringe benefits; i.e., medical insurance, disability insurance, retirement benefits. Also, remember to include quarterly income tax payment to federal & state (as appropriate) and self-employment taxes.
======
If calculating all this accurately seems to be a bit overwhelming, reach out to your tax advisor and ask for guidance in this regard. 
======
Also, there is an excellent specific cost breakdown by one business owner for services within her [ @anon78047977 ] region & for her overhead:
"Ok for a seasoned already in business Signing Agent (meaning no start up costs to factor in, just on going costs)
Average Refinance
- 150 pages (300 when having to print 2 copies)
- 35 miles average miles to signing/from signing/to FedEx drop
- Print cost average .15 per page (Laser printer, standard paper. Note this is also the cost at Staples, FedEx Office in the area BUT I have actually calculated my real costs by dividing the number of pages I get from a toner kit, my drum kit, cost of paper etc. but I use this average of .15 because there are Notaries around who actually use outside printing)
- IRS mileage .56 per mile [current rate is .655] (you can use actual costs of gas, insurance, plus maintenance costs. I will use the IRS rate because it’s a good average and I also have Tolls I have to pay which I will not add in this example. Also later I kind of use this amount as a “catch all” for other expenses. Again, I have determined my “actual” costs and the averages I use are pretty spot on.)
- 2.25 hours an average total time spent which includes, confirming appt & reviewing instructions, printing/prepping docs, travel time to/from/to FedEx, signing/notarizing docs, scan back
- Costs that people usually do not take into consideration because it’s part of their household BUT they are costs of running a business (home office expenses - internet, electric, computer, phone, supplies, etc.) Remember every business has similar expenses
So here we go…let’s look at average total for this signing:
$45 print costs
$19.60 mileage rate (So this number is based on IRS mileage rate. I use this number as a catch all to give me an estimate of my actual costs (gas, toll, %of annual maintenance, %of insurance and a % of home office costs, %of supplies, etc. Since I know my % for every business expenses, I already know this number is pretty close to my actual costs. For example my actual costs for this signing would be around $21)
It will cost me $64.60 for a 150 page refinance order. With no issues, no traffic, no reprints, no problems
If I took a $75 signing fee I would net $10.40
I would net roughly $4.62 per hour for a signing that took up 2.25 hours of my time.
$95 I would net $30.40 or $13.51 per hour
$125 I would net $60.40 or $26.84 per hour
$150 I would net $85.40 or $37.96 per hour
So when I advocate for SAs and fees I am not just coming up with number off the top of my head. I have done the math for myself personally."
SOURCE: Signing Agent Fee is Just Not a Notary Fee - #38 by anon78047977
I tried that approach and it was about 55% obtained someone else and about 45% increased the amount. So it can work.
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One item of note I did not see in cNsa5’s breakdown … federal and state income tax. But I admit I skimmed it quickly
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For whatever it’s worth, signing companies need to recognize experience etc. Maybe then, we can get paid what are worth. Won’t happen.
About a year ago, I got a desperate call from a signing service for a quick close on a reverse mortgage. As most of you know, 300 pages times 2. Turns out, they signed pretty quickly not listening to my explanations. This was their 5th time!! All other signings had been flawed!!
Get what you pay for.
That said, i am in a major competitive market and there is always a cheaper w----e out there. On broadcast orders, there is no chance to counter.
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Too many notaries fail to grasp that our business is a commodity service, jobs go the low bidder. It’s not like a W2 job where experience counts…for much.
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I was an appraiser back in 2008. I remember as I was a mentoring, listening to the lender tell the appraiser what he said the value was.
And with no income verification to boot.
The disaster was written on the wall.
Lol you used Ragu for a notary example. Kudos!
I ben tried to go the work with Notary Cafe, but everytime they denied my background and i just understand. But my background is very good. So please get contact me . It not i to delete my membership, because i am tyried now!
Okay, going to try to respond to you, RobertkSmith19
Notary Cafe does not give you work - the companies that use the profiles listed here give you the work - and it’s up to them if they accept your credentials. Apparently, they are not satisfied with the Background Check you’ve had done (not sure where you had it done) - perhaps you should take it up with those companies. Most only accept NNA’s BGC - some will accept other company’s, but not many.
Sorry you’re having a problem with this but please don’t blame Notary Cafe - they have no control over who uses you and accepts your credentials. I will say that canceling your membership is only going to be shooting yourself in the foot.
Thank you for your information and advice! Most of us are professionals who just want to earn a decent living and work for our own business. It’s very difficult. I’ve been a NSA since 2007 and have seen so many changes. Praying for our future!
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Nobody that I can think of has ever suggested that the NNA was their friend. Signing services are certainly NOT our friend. They will take a signing that they are getting paid $200 for and pay the notary $75, pocketing the rest for doing nothing more than sending out a text blast.
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Do you have a background check from the NNA that is less than 1 year old? If so, I’m sure you can reach to Notary Cafe to be listed on the platform if this is what you’re asking.
Yes and i can year or more. And in am Notary Signing Agent for South Carolina
I have tried to get in contact with Notary Cafe, many time but never reply about my background. I did submit my background in your profile to your system, but many time Notary Cafe did dined me. I work with Snapdocs.com with no problem with my background and I submit all my document with no problem.