I too started in September 1, 2023, quitting my corporate america job in August and I have been measuring my success based on what I’ve heard others talk about. It started out very slow but by the 3rd month I had made the same amount as my corporate job. Could I pay myself?? a little but not enough to live off of. I am only on one RON platform and I’m never near my computer when they come available and I haven’t had anyone that I know that has needed anything notarized to bring them to the platform. I am not one for advice, but just don’t give up! That is what I am staying focused on.
I am not always busy but the end of the month is definitely busier and I’m building relationships so I believe it’s just a matter of time.
And only one platform and never near your computer? What kind of “corporate America” job did you leave? Did you mean you started September 1, 2022?
1 Like
Congratulations on trying something new but should keep your day job. What type of professor are you? I’m 74 and my best friend since I was 14 is a professor and she could never get a good paying job so she married a millionaire instead. Success in any business is when you at least break even or make a profit which your accounting data should evidence. Have you set up your accounting system showing expense and income yet? This would be applicable to any business venture. This forum provides a lot of information on the search area but remember you are in a business world where no one will provide you all the information you need. Happy researching !
2 Likes
I like her thinking!!! LOL!!
2 Likes
This is really weird… lol but ok? I
I am about to close this because it seems as if the intent was lost
@alishaquincygrpnxtgen Oh Boy . . . !! This truly is NOT what I want to do with my Saturday Morning . . . but, here goes.
===>>> Much sage insights & wisdom have been provided directly to you. It’s truly a conundrum that I’m finding myself further answering . . .
All member replies posted to you have addressed it concisely & accurately.
======
As a BUSINESS OWNER, you’ll measure your Success utilizing the standard methods (oversimplified version below) =>
- Market your professional services
- Track those expenses
- Provide those services
- Track ALL of the associated expenses => see the previous thread I tagged you in that is a Guideline for capturing those expenses: 🤩 IMPORTANT => Guideline for Creating Your List of Fees
- Create a P&L spreadsheet entering all expenses (reference Item 1 above) and entering all income (reference Item 4 above)
- The “Net” result at the bottom of your P&L spreadsheet will ANSWER whether you’re being successful (or not).
======
Also, please review all the threads that have been provided directly to you via your moniker as they provide a Wealth of Expert Guidance/Information.
======
Regarding the following statement you made above . . .
As you have intimated, you’re new to this business sector. As such, you’re likely NOT cognizant of the potential “price fixing” scenario that would be present if the specific numbers you are asking for were provided. For this business sector, that scenario has been a primary objective of the Department of Justice [DOJ]. For a recent reference, please review the following recent post:
======
Regarding your statement as follows:
There are pages & pages with lists of texts to learn from on Amazon about just that topic! In addition, there are texts that are specifically TAILORED to specific states.
So, there is a WEALTH of information readily & easily available with the touch of a few keystrokes.
Considering my longstanding, active & current professional experience, I can state, though, that most of the texts found on that venue are NOT ones I’d invest in purchasing. They’re mostly selling you the “sizzle” & NONE of the “steak.” I can make this statement, because over the years I’ve purchased many of them & found them sorely lacking in substance.
With that said, there is ONE text that have purchased & gained an IMMENSE amount of wisdom, support, & guidance from reading => “Marketing Your Non-Loan Notary Services” by Laura Vestanen. The price is QUITE reasonable at a mere $15. This text will be instrumental in guiding you to effectively & efficiently expanding your business.
======
I hope that you’ve found this post supportive, insightful, & helpful.
2 Likes
I received my commission and signing agent certification in September. I signed up for several agencies. I received 3 jobs. I only attempted to accept 1 of the jobs. I started looking at YouTube videos, and I heard about some signing agencies for new agents. I signed up for Notarygo and Signingorder. The jobs started rolling in. Though they were low paying, you have to start somewhere. I believe Nitarygk requires you to call for your first assignment. Signingorder requires a payment of $1.99.
1 Like
Tip: When you start out by putting yourself in the ‘bargain bin’, just know that you’ll never get to top shelf because there’s always another beginner climbing into the bargain bin. Sadly, that’s about ALL that hiring party is looking for in these low-volume times–someone to pay their bills & provide their income.
6 Likes
So agree with Arichter … And reading previous threads here about Notarygo, I would not even consider the ridiculous fees they offer. I saw $43 for a refi…are you kidding me???
Put yourself in that group of signing agents and there is no going up to the fees a loan signing commands. You’re stuck in that lowball pit until the next newbie takes your place…and you have been working in the red for nothing.
2 Likes
Hi Alisha,
People ask me if I’m busy nearly 25% of the time. I’m a Loan Signing Agent and these are usually Buyers who are wondering if they are taking a risk buying while the rates are so high. I let them know that I have noticed some weeks where there is very little activity and some where it is busy. I hedge this with the statement that it’s not 2020 level anymore but there are some predictions the rates may go down in 2024. There is a good chance that today’s Buyers will refi.
How you measure your success depends on the goals you set for yourself and how realistic they are. My goal is to take as many profitable assignments as are offered to me and to complete them with customer satisfaction and no errors. I’m not a General Notary but I will take the occasional assignment if it fits in with my schedule. I currently serve a multiple county area but due to the distance can only accept assignments if there is at least another near by. I have currently signed up with a firm that does site inspections. They don’t pay wonderfully and there is some risk, but if I have a $90 loan signing, the additional money (between 25 and 50 dollars) for the inspection makes the trip more worthwhile. Those site visits take 10 minutes once you are there, no notarization and there is minimal printing.
Lately it has been hard to manage with the downturn in package fees. I also found out that due to an oversight, my expired Background Check was not replaced with my current one although both were on the same platform. Once one of my customers notified me, I was able to correct the problem and have recently started to receive offers from one of my favorite companies. I had written to them two weeks ago and asked them if there was anything on my profile that caused the offers to cease. I was told that everything was good from their end, so it must have been a problem with the portal automatically not sending me offers.
Because of glitches like this, I have no accurate picture of the success of my business lately. You will have to figure out your expenses and match that against your income and expectations to know if you feel you are successful.
In this business climate, if you are making a profit, you are successful, especially if you enjoy what you are doing.
2 Likes
Looks like do you work for free. Do you own a nonprofit organization? If this is the point then good luck.
1 Like
You asked for advice and it was given to you by veterans in this business with decades of experience, many of whom have provided me with insight and knowledge. I am grateful for their, sometimes difficult to swallow advice. Advice is presenting you with hard facts not fluff.
I wish you the best as you embark on your business venture. Always remember you’re now a business owner, which will demand you take a different viewpoint.
1 Like
You should do at least 10k for this period of time in case to be sustainable. You need another income as well. 2k is a misery. Ann
1 Like
RON fees vary by state. I can charge $25 per RON stamp, but that is me bringing my own clients.
However, if you work on platforms where you are in a call center environment, you might only be paid $5 per stamp.
It’s not $100 for a piece of paper and fees for GNW vary by state.
Ohio: We can charge $5 per notarization (not per piece of paper and not per signature) plus an agreed-upon travel fee. If we agree to a $100 travel fee, I get $105 one stamp. But if they have 10 notarizations and we agreed on a $100 fee, I would get $150. It’s kind of like flat-rate shipping.
As for the travel fee in Ohio, as long as it’s reasonable and the signer agrees to it in advance, it’s not a problem. The quote and the receipt you provide the client must break out the cost per notarization plus the travel fee. Unlike Signing Agent fees, I can’t charge a flat rate for an entire package.
I cover 8 counties so distance can give me plenty of revenue if someone wants to pay it. And because I answer my phone and am self-employed, I can be flexible between Loan Signing appointments. There is money in GNW if you know what you are doing.
As for your state, you would need to check with other Texas notaries as what you can charge.
To make money in RON you really need to market yourself and be on a platform to bring your own business. Instead of a call-center environment, you book appointments.
1 Like
Thank you for making that clear. I think I had the wrong idea about RON but that definately clears things up. It’s not a quick fix money maker necessarily…
Eventually, an income level enough to pay for all my expenses, etc. That is what attracted me to venture into this in the first place. Not sure at this time how long is my tolerance level or waiting time. Just new and still learning the ropes. Only way to find out is to do my level best.
2 Likes
Did it take long before you started. Getting offers?
It seemed it was about 2 weeks and then slowly but surely offers started to come my way. I took a variety to get the ball rolling🤗and it has been steady ever since. I still enjoy the variety of signings, although I find they are mostly real estate transactions.
1 Like