New NSA: Loan Pkg Selection & Addtl Fee for Mobile

Hello all. For many of you have already been in my place as a new incoming NSA and so my question is, is it recommended or more sensible for me to start out with accepting less complex loan pkg assignments (i.e. Seller’s Pkg, Loan Mod, Cash deal) to build my confidence and knowledge before taking on the higher fee & complex packages? I do understand that the less complex packages don’t pay as much as the more complex pkgs do I’m just curious as to what you all think? Also, when said type of pkg (i.e. Sellers) is accepted thru the signing svc like Snapdocs as a mobile signing, is it more or less advantageous to charge a " +15-25%) fee or just a flat fee? :thinking: Thanks!

No take whatever you can get assigned to.

Personally I did not publish my fees for a year. I needed experience and an understanding of the cost of doing business in my region.

Everyone has an opinion on what you should do. As a business owner these are things to be determined by you.

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Pretty much agree with johnson. EXCEPT the time to guesstimate your costs is before you accept a single job. Gas & drive time ARE major factors, any mapping program will give you a very good mileage & drive time estimate so you can do this NOW.

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The hard truth is countering offers when you are brand new with no experience- that’s going to be a tough sell if you haven’t ever done a job. Why would someone brand new command the same fees as someone who has done 1,000 with no errors. New notaries should be more realistic. Be competitive to get the work but don’t be the more expensive notary when you have no record of performance. That’s just the way it is. If you have to get out a calculator before you can quote a job - you won’t get it anyway. Someone else knows what their fee has to be and has already responded to and been awarded the job.

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@accusignxpress Your post brings back a lot of memories, as I can relate to being in that same position when I initially started out. I remember falling into the trap of accepting any fee that was offered, but I quickly realized that it’s essential to have a solid understanding of my own numbers, particularly my break-even point. Without knowing these crucial figures, it’s easy to end up in a situation where you’re essentially paying companies for the opportunity to work, which, of course, leads to financial losses. A fundamental aspect of developing a sound pricing strategy is to conduct thorough market research. This research should be geared towards gaining a comprehensive understanding of the current market conditions and identifying the level of competition within your specific area. You don’t have to be the cheapest to get assignments, but you can take assignments that covers your cost to operate your business. As for the type of assignments, you are going need to work an assortment of assignments, that way you get to a better understanding of the title companies and lenders for their loan packages vary in sizes and different policies. Find yourself a seasoned mentor to guide you, they don’t have to be local or could be online. That why you can shorten your learning curve. Good luck and wish you much success.

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That was my point: Don’t go in blind.

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I agree. Thank you again. :blush:

Makes sense to me. I’m truly absorbing all of everyone’s responses to jelp me to determine my approach. :blush:

I really do disagree with going cheap because you’re new. First, you just put yourself in the bargain bin & it’s hard to get out of that. Second, because you ARE new, it’s going to take you twice as long to get it done…and hopefully you didn’t make an error that causes you to go back for free. That’s enough ‘discount’. Further, you accustom them to seeing people work for less than minimum wage…often even a loss. So, if one can do it really cheap, well, then they all can–let’s cut it further and profit more.

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Oh how I agree. I don’t see the loyalty as much from SS anymore. They want the cheapest bidder. Some of them who I have worked with quite a bit are even taking longer to accept my counter offers as they wait to see if the cheaper notary will accept. Then we all suffer with them wanting to micromanage more and more. The 3 colors of text and 5 different fonts and sizes in their directions. Putting the directions out there numerous times and making us check off on them. Proves they shop the bargin bin.

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I really do disagree with going cheap because you’re new. Correct!!

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Hello

What city are you located in I will help you if you need it. Show you different packages for signing and how to sign and how to maximize your time.

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Hi. I’m located in OKC metro area suburb just south of OKC. I really appreciate that. I’m really excited and still getting myself prepared to take on signings. :blush: