The problem in my VERY rural area are mobile notaries are a dime a dozen. I didn’t have enough time for closings July/Aug & first 2 weeks of September. Now the fresh new notaries are out there excited to get a job, will travel 100 miles and print a 150-page document for $35.00. I kid you not. After a few months they realize they are doing this at an excess cost to themselves and they drop out. Here I am, overloaded with work again. It takes a couple of weeks to let it be known that I’m not doing this as a favor and then we get along just fine. I haven’t worked since the middle of September. This is a poor area as well. I think the economy is playing its role. I’m fortunate though and can ride it out.
Great story, good for you. I feel the same way, I have been a signing agent for six years. I am looking for advice on picking up additional assignments, my daughter is getting married next year and I would like to increase my work load. I normally get between $150-$200 per signing. I recently called a friend of mine that works for a new title company. She said her company uses a local signing agent service. The service charges $150 and splits it 50/50 with the signing agent, so $75 per signing. She connected me with the service. During the “interview process, the lady at the service said, I would have to mirror her in five signings before any work would be assigned to me”. The mirror signing would be at no earnings for me. I am not willing to do that to make $75 per signing. What a scandal! Any advice for me?
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Are the borrowers and title companies okay with someone else accompanying the sighning agent (to “mirror her” in 5 signings)? That’s usually frowned up due to privacy concerns.
$75 per signing is not ok in my book.
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Hello, unless the signing assignment requires a witness, it is not acceptable to allow anyone to mirror you during the signing process. You can always ask the hiring company if they would allow it. But, you really answered your own question.
Honestly, regarding the “Mirror” aspect, I would also require written consent from the signers that’s they agree to let an unrelated third party observe (and potentially be privvy to their PII)…
Not for nothing, but them having to mirror you, to me, is an insult. I don’t need a shadow, an observer, or anyone else watching what I do. I know what i’m doing.
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I had to admit, I laughed so hard at this. I did the same thing but now I have a new word for some politicians.!!
Walk away. Save the favors.
The ‘mirroring’ aside. $75 just doesn’t cut it.
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Exactly right. $75 is not acceptable for a loan package. As for doing mirror signings, I wouldn’t agree to that.
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Good for you and the industry for not selling out.
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When a company offers volume a red light should go off. If you are being offered a profit volume is a good thing. If you are being offered a breakeven or loss it is a bad thing.
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I suspect that I’m one of the few here that do this full-time, meaning the only source of income.
My biggest take away so far is the fact that the trust level in notaries is very low amongst title and escrow companies. I have worked very hard to build my business from direct business only. This is not an easy task as you know. It takes a strategic marketing plan and a decent understanding of social media, not to mention a strong business acumen. But, most importantly, it takes someone who is serious about the notary business. Not the fly by night notaries I have seen on YouTube and other social media.
I recently hit a milestone; I entered my 100th journal entry. Not a big deal for most people, even notaries I suspect, but for me it meant a lot. I made my first entry on 2-27-24, and my 100th on 11-22-24. I started an LLC mobile notary in a very saturated market. So, you would think. Los Angeles has many micro markets to make money in the notary business, I started my mobile loan signing agency knowing the fact that one can’t rely on the mortgage business alone to make a profit. I have found niches that I could only dream up, maybe I’ll share later.
I have yet to achieve the status a being Fidelity approved for whatever that is worth. In another year, I heard I could possibly be one of the chosen ones if I have 20 perfect signings under my belt. Heck, I passed the Fidelity loan signing test requirement with a 97% that they only administer on the second Tuesday of every other month, and they still won’t approve me. No trust I tell ya!
So, to build out my business I joined a networking club, chose five title companies to work with, five escrow companies and several real estate agents and a couple of mortgage originators. And to boost my specialty or general business, I have several attorneys and several healthcare facilities I keep in regular touch with. I have signed with several small businesses as well. It takes meeting people face to face and rinsing and repeating. It doesn’t have to cost your business a lot. Again, I’m lucky my area of the South Bay of so Cal has a lot of businesses nearby and it’s usually less than 5 miles rt to drop off swag. Swag that is very effective and not expensive, and not the usual stuff notaries hand out. Creativity and good luck are key to this and any successful business to be! Happy Thanksgiving too all!! Peace kk!
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run run twenty five words