I received a notification for a signing and responded to a fee that I know was reasonable for the area. The SS did not respond to my offer but increased the fee by $25 more than what I offered to do it for. I again I responded I was available but now the time was not good for me and I gave them the time I could do it.
Again no responses
They assigned it…
The very next day the exact same assignment notification came through for the increased that they had the day before with the same time… again I responded with the time I could do it…
An hour later it was still showing available so I googled them and called them directly.
Long story short… I ended up being assigned the signing at the time 1/2 later than what I originally said I would do it at and $75 more that what I originally said I was willing to do it for. Once I got the docs I almost fell over laughing it was only 40 pages, no scan-backs no duplicates needed 48 hr drop off time frame to FedEx. I’m glad I didn’t see all that before as I may have just taken it for the original offer.
Like my late grandma always told me “ A closed mouth doesn’t get fed” so if you want something you have to ask for it.
I am a fan of negotiation:) People paid a lot of money to learn the art of negotiation! To name a few, wall street brokers, mortgage brokers, realtors, lawyers, sales team, banks, corporate executives, sports, anything in life really. If you are a smart person you negotiate. Being submissive will not lead to success. There is no loyalty in any business. Go for it. Negotiate. Value you time and your expertise.
Although some idiots will demonize anyone who tells others to negotiate(asking for fee increase). Just sayin….
I totally agree with you on this. One must try (via negotiation). The issue is first time clients are not familiar with your “expertise” until that relationship grows (if it grows). Then if your in an area where the inventory of SA’s with those same “negotiation skills” are abundant, then there’s that. Signing companies shop like “most” shop for anything, they just look at the “cost.” Where can I get what I need for the least cost possible? I personally, don’t shop this way. If I’m looking to purchase cable TV service for my home, the cable company may charge $99/month for 100 channels, but the phone company may charge $105/month for 50 channels more. Guess where I’m going? Quantity/Quality over investment! I will pay the extra $5/month. That’s how they gain my loyalty. Their loyalty to me is them not only knowing there is competition in my area, but that they continue to provide the same service at the same comparable rate. Your acceptable loss in this business dictates your “submissive” rate (depending on why your in this business). We are stuck between a rock and a hard place in this business, no two ways about it. Do you want to make money, or build your reputation/relationships? Having your cake and eating it too in this business is rare, and when it does happen, this is where one usually gets "direct’ work.
Love it! No wonder you excel as an NSA very fast:)
What bank? I used to be in banking also. I have held many positions: Branch Manager, Branch Sales Manager, AVP Relationship Manager II, VP Small Business Specialist. Worked for Keybank and Compass Bank, I make 400% more as an NSA than when I was in banking.
OMG… it’s been so long that I can’t remember the name… It was a small Commercial bank that was bought out by 5/3rd Bank… (First Choice **something). I went from Teller to Relationship Manager to Personal Banker to Assistant Manger to Manager to Membership Banking Specialist to Membership Manager to Private Banking Investment Advisor. Let’s just say I have been around. I have been scouted so many times to go back to banking. They could not pay me enough to make me go back!
And I totaly agree with you. The things I have witnessed firsthand at the executive level people would not believe. My husband keeps telling me to reach out to Tyler Perry and give him some of the stories to turn into a series… lol… It would be a hit let me tell you. Drama on a whole different level. I even have a title for it… “Don’t Bank On It” … lol
Great idea! Percent @donaldsonnp Just protect yourself going into it with everything in writing & remuneration amounts + royalties negotiated & fully agreed to ahead-of-time. It’s so easy to get burned in some business sectors . . .
During the heyday we could ask pretty much for what we wanted and got it. Now I have had a scheduler hang up on me as soon as I mention my not unreasonable fee. I have tried post negotiation if the documents were not available when I first agreed to the signing. Sometimes you are dealing with a refi package with special circumstances that result in a 200 plus page count with a scanback. The scanback is usually mentioned in the offer so you can’t ask for more but you can ask for an extra print fee for jumbo sized packages. Every little increase means you can afford to buy the paper and ink or the gas to get to your backwoods assignment. More work per package, less pay, not a happy combination but sometimes those exotic packages have small page counts which balance things out.
I gave up fighting what Signing companies pay a long time ago. They run a business just like we do: Get what you need, accomplish the mission for the lowest price possible! In my experience, your “expertise” is known and recognized when they reach out to you directly without going through a mass signing service. What bothers me is the lack of transparency in the assignment through those platforms. If it comes across as a 1st REFI, I’m figuring around 100 pages, now if they put VA/FHA REFI? Then I know I’m dealing with 175-200 pages. Most don’t disclose this. Simply disclosing the “complete” loan type, or doc page count in the assignment request would give us better leverage in the negotiation/decision making process. I did my first SBA 7(a) loan package the other day. Accepted it for $120 right up the road for me. Docs came in at 250 pages with 4 signers. This wasn’t disclosed in the assignment. I reached out to the SS with a question about the docs and they realized what was involved with the package and they increased the fee by $100. I wish they were all like that.
Maybe…just maybe sometimes they don’t know. I don’t pretend to know their process but if I were to make an uneducated guess I think they get the docs and then upload it for the LSA to handle. You letting them know ahead of time on the irregular nature of that was good and great job in going back and addressing the fee. I believe newer agents like myself are afraid to do so in fear of losing the assignment.
I guess they “may not know,” but lets say they didn’t know, then what are they basing their proposed fee on? The Signing Service has to know in advance what they are pushing out to us. I would think this alone would determine their “wiggle room” in the negotiation process and what to offer for the job. Yeah they will start with a low ball number to see if someone “bites,” but they have to be prepared for the “no bite” scenario as well to get the job done. For example, if I am a Signing Service and I receive a 200 page REFI from ABC Title Co. to push out that I charged the client $300 for, I know what my minimum and maximum fee to the notary would be while still making a profit. I don’t know what to charge ABC Title Co. if I don’t know what I’m getting from them, hence how would I know what to offer the notary while still making a profit. (I think I got myself dizzy on this one…lol)
I like that you were not afraid to let them know the situation and they were very understanding and accommodated you with an additional fee:). Congratulations!
I give them credit for “trying,” (or it “could have” been an oversight on their part), I’ll give them the benefit of the doubt on that, but either way, I’m not giving up my “first born” for a $1.00
Lol… I hear ya. I would also view it as an oversight on their part especially since they didn’t give you push back on your request. I have not had that issue but will definitely remember this should it ever happen. All my negotiations have been for last minute out of area assignments… easy peezy when they have no other options
. People will drop. 
Percent 
