Takeaways: 66% are not profitable after 1 year in business; must offer more than loan signings to be profitable–many of which do not require a notary commission.
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I was just about to post on the NNA’s survey. I find it interesting that it’s taken so long for them to acknowledge the state of the market.
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Well, they have a lot of stuff they want to sell us…including the 6-figure guy. I’m honestly surprised they did anything, but appreciate that they did.
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What a grim assessment. In MA, as I’ve stated before in other posts, the fact that the law requires the direct supervision of a signing agent by an attorney all but wipes out this segment of the market for the SA’s. The leftovers from general notary assignments amount to crumbs.
Thanks for sharing! It is interesting to see how notaries are doing on average, or at least how they feel they are doing.
@Arichter Thank You for sharing this data.
For anyone interested in the comprehensive detailed compilation of all data delineated including the questions posed as well as remuneration, please see this PDF (29 pages):
Thank YOU, cNsa5. This is more interesting (& telling) than the rather lame survey itself.
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