I am off for a few weeks for a partial knee replacement but still answering the phone. Yesterday (MLK), a woman called to have a notarization for a car title because she couldn’t get a free notarization at a bank which was closed for the holiday.
She called one notary and couldn’t believe his fee. I asked what it was and she said $20. I told her to grab it because if I were able to do it, my rate would have been triple that amount.
So if the other guy was willing to do it for $20, he can and I’ll continue to market heavily to repeat customers who pay my going rates.
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Can i ask what type of information you included in the FAQ sheet? Im in Virginia and may try that.
Thanks.
Sounds like he is doing loan modifications for Coast2Coast/Notary Dash. You have 10 days to complete so I accept a few to do while I’m on the road to a “real” closing. They’re take less than 5 minutes and 12-15 pages. I call them bubble gum money. I hope that’s not all he’s doing.
You’re absolutely correct, when you attempt to negotiate the signing fee most oftentimes the signing is reassigned to someone else. Another thing is, how can you really know what to charge when you don’t have all of the signing details. Many times after the documents are sent to you. It’s wY more work than you initially expected. They will also tell you that it’s one type of signing and then you get the documents and you see that have tricked you into a different signing type. Real shady.
Had offer for 12.00 auto sign. 20 miles away
Simple one page sheet. Top of page has my personal logo and contact information. 1st section service days & hours. 2nd section brief description of locations services provided. 3rd section Per WA State law ID requirements. 4th Section General Notary Services ~ list types of services, Witness info., fees, mileage fees if applicable (I discount for seniors & military within 15 miles). Fees for title or lender property pkgs, reverse mortgages, etc. Include brief experience history in this section. Last Section: list license information and certifications. Seniors especially find this information helpful. Hope this helps 
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I understand your perspective on low ball offers, but every Notary Public is different, and so are their circumstances. I accepted the low rate of $30 recently. Here’s why. It was a 26 page document, I did not print the docs on my office printer (so I didn’t pay for paper and toner and use of my printer), the signing location was less than 5 miles from my home office, I scheduled the signing at a time when I could pick up my grocery order down the street from the signing on my way home, and I was already out and about prior to the signing. This was a win-win situation for me.
I don’t like low ball offers either, but I understand why some accept them, including me. The young man who was at FedEx complaining about running around for $30 should not complain because he accepted the fee.
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Congratulations son being so productive in your work. I could definitely learn something from you!
Business won’t improve until interest rates go down and people start refinancing again. When that will happen is anyone’s guess but I wouldn’t expect it anytime soon. Yes, this is the only industry that I can think of where pay hasn’t increased in the last several years. Rates are essentially the same as when I started doing this in 2014. Expenses, as we well know, have skyrocketed. There’s no way you can depend on making a living as a loan signing agent. Fortunately for me, it’s not my main source of income so I can deal with it, but I would suggest that we all should be looking for alternative ways to make money, because this just isn’t cutting it.
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There aren’t enough of NSAs refusing to accept low ball fees. I suspect the market is still saturated.
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Thank you. Basically need to sell yourself as a business. My children have told me I’m quite chatty and have a gift for the BS but I backup with facts. My youngest son is an actor and is always having to sell himself during auditions. When he was performing in NY at Cult Comedy Show his skits were often, " My Mom…". Acorn doesn’t fall far from the tree.
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I’m about to put Coast to Coast out of business as well as notary Dash so they can take their $30 closing fees pack up their lunch and go home they are no payers.
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There has been a shift in notaries fees in the past 6 years. As business has slowed down due to interest rates, loans are getting harder to come by. That doesn’t mean to just take anything. I have had to replace equipment in the past year. In doing so, I can’t go with these $ 50-60.00 fees. The cost of paper, toner & gasoline has increased, but the fees are declining.
Like you I’m in my early 70s. I’ve been in this business for 11 years and I need to diversity due to the slow down.
I’m in Colorado. Do you mind sharing where you took your reverse mortgage class and who is sending you business.
My GNW business comes from in person marketing and people contacting me from my Google post. Many people are leaving WA or investing in homes in other states. Receive many requests for multi-state signings more than local loan document signings. My reputation of multi-state signings began with lenders, title, etc companies for military signings. I was doing reverse mortgage signings before getting certified. Many vendors have additional education posted on their websites and selected 4 for reverse mtg. Google shows Notary2Pro, Notary Rotary and more provide this education. Knowing area clientele and making them comfortable during signing process also gets me referrals and call backs for other signings. PNW rural area clients are kitchen table signings, full care facilities, hospital settings, professionals, millionaires and everything else in between. I’m comfortable in all settings regardless of income. Millionaires change their underwear just like everyone else My attire adjusts to setting but always professional. My salt & pepper hair is welcoming to seniors. Always have a smile. I have seen other Notaries dropping off packages in FedEx, UPS, etc.in old cutoff jeans, dirty sneakers, multi colored hair, too much makeup and jewelry which I don’t think is professional. Professional attire can even be found in thrift stores. Wear sensible shoes. Heels in PNW get stuck in ground. When I go into full care facilities or medical facilities, have mask in one pocket to put on and business cards in other pocket. I have my laminated FAQs sheets in my brief case to hand out to administrative personnel in these facilities for future requests. Marketing produces the Benjamins.
Majority of time Notaries accepting low ball fees are working at a loss and will not survive. Bad thing is until they figure this out is creating bad trend for other long time professional Notaries. There are NO Notary training classes explaining business operations as a Notary. Jumping into this game without any type of business experience can be a very bad financial experience but in the interim these people are setting a precedent. NNA and ANA should publish helpful information regarding setting up Mobile Notary Business. Notary Cafe Forum is a good place to read experiences prior to getting into the business but others could also step up to the plate.
FYI Notary Rotary provides no education at all except that which is required for new notary commissioning. They don’t even provide assistance with commission renewal any more - only new commissions - at least that’s what I was told when I, in Florida, tried to go through them to renew my commission last June.
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Im in southwest virginia. I was doing signings pre 2008 and then quit. Now in my late 70s im doing it again basically to get out of the house.
Ive received a lot of low ball offers but decided to decline all of them. If it doesnt pay 100 minimum then it wont be done by me. But someone in my area is accepting signings with scanbacks for 35.00. Dont know who but i see it at least twice per week.
I figure it like this. By the time youve invested in the training, insurance, laser printer and document scanner you have a substantial amount of time and cash involved.
I kinda think that the person accepting lowball jobs might be hoping to establish a foot print that will drive other notaries out of the business
I do wish them well and hope they will learn better before they go broke.
Best wishes to all. Enjoying a gorgeous spring day in the country
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Hi David SW VA ~ my son and extended family in Staunton VA. I see broadcasts from SnapDocs many lowball offers more than 2-3 a week. Newbies will figure out they are operating at a loss and will cease service. Fortunately, my history working with military personnel/vets helped me establish myself with title companies in AZ and TX where a lot of people in WA are purchasing property. Out of state requests keeping me busier than WA state signings. Signings begin at $100 to $125 and not a lot of docs. At 73 work part time because I like the work and keeps my brain cells active. Tai Chi for seniors keeps my soul at peace with changes in world that we have no control. Wishing you well and happiness David whatever decisions you make in life.
Thank you for your kind note. When i first started doing signings in 2002 i was living in palmyra which is just outside charlottesville.
Another lowball came to me today asking me to drive 47miles one way to do a signing with scan backs for 50. Then when i clicked on it someone else had taken it. This happened yesterday as well. Virtually the same scenario just a different location.
Im far enough along that i do not rely on signings for regular income. My primary interest is an escape from the golden girls
Best wishes
David Booth