I felt like I got a decent education (I had no experience in loan signings other than the 3 houses I had purchased) but I was disappointed in the list. On the actual list, it calls out that some of these may be out of date and they couldn’t maintain the list since it changes everyday. That they were. That being said, after a TON of research, I realized that those lists weren’t going to get me the signings that will pay my bills, so I used the education that I did receive, and worked on my google business page, marketed directly to title companies and have clawed my way to cobbling some work together. I think that there is value in the videos, and they do offer mentoring, but I thought it would provide me more than it did (list wise). As someone else posted, $300 is the fee. I just felt like it would be more like, these are the forms that you would see in closing package, this is how you handle them (ie., basically a script that would help guide you to say the right things until it becomes second nature (I didn’t feel like that happened at all). I kept waiting to feel ‘ready’ and I never did, not until the first couple of signings happened.
Hello johnsonps306, did Coast to Coast train you to accept their $30 fees???
A full set of practice documents can be got from esty for around $10.
@notary I have never accepted any job from anyone for $30. I don’t take the low offers. But I have been able to call Lisa during a signing - even in a signing for a DIFFERENT contractor and she will answer questions. That’s a good relationship. That’s a valuable resource. And if you watch their training videos you’ll get contact iinfo and she’ll say “call me any time”. That has nothing to do with fees. I don’t cut off valuable resources.
LOVE for the newbies? What is the definition of LOVE? If you listen to the NNA a mobile signing agent according to their site can make a six figure income! Yet their own survey shows most part-time Signing Agents (SA) make $1000 a month and most full time SA make $2000 a month.
Newbies see this as a real easy money path. They don’t or can not and haven’t figured out their costs of business. Mileage at 0.65.5 cents a mile, to and from the signing, then to drop of the package for shipment. They don’t figure the cost of the phone, computer, printers, paper, toner, drums, advertising, pens, bonds, E&O insurance and all the expenses of this business.
They don’t take into consideration the time to drive, sit at the signing table, time to print, time to scan, time to make invoices and the bookkeeping time to record all this for the IRS let alone waiting 60 to 90 days most signing service use to pay or not pay. All these expenses and time add up. Every job you take for $30 to $45 dollars that Coast to Coast offers you is a money loser. Coast to Coast is more than likely making $100 profit on everyone, someone takes.
Newbies want mentors but the SPWG guidelines are we take no one to a signing unless it is required to have witness. That is entirely another issue in it self.
Newbies by and large never took Economics 101. The law of supply and demand. The more supply (Notaries) and the demand the number of jobs for SA’s in a given area has a significant impact on the fee’s offered. Remember the Signing Service is not your friend. They went into business to make money. They do not have the same overhead we SA have. They don’t drive, they don’t do annual Background Screening more than likely. They print very little paper as they review on screen, they don’t need laser printers, their use of scanners is minimal as they forward your scans if required. They ding you for every mistake, but probably do not get dinged by the Title or Lender for errors. Their business may drop if they hire to many SA who make mistakes.
Many newbies do not understand the hours are not your own if you want to make money. Some days it 6AM to midnight others nothing at all. Anyway you should be getting the gist of it. Experienced SA are not going to jump at the chance to mentor or help a newbie except on forums. Yes we need newbies to replace people who have retired, gotten out of the business etc. But also remember the law of supply and demand. Experienced are the supply and demand is finite. More supply equals lower fees on one hand, reducing their income.
Some Title companies and Lenders will give you the song and dance that if you will reduce your fee we can give you more business. Well if they can promise that there will be more signings in your given area and you are going to get all of them that is great. Does their crystal ball indicate that more business is going to happen in your area, do they control interest rates, sale of homes, number of people who are gong to refinance, NO!
It took us seasoned notaries months and years to build our our knowledge base, years of taking training classes and refreshers. Years of good work to build the reputation that has those signing services and title companies make us first call clients. We hung in there through the ups and downs of the mortgage industry. Hung in there through the sleazy signing services and posted about them. There are still some out there. We know the ones who take advantage of us for their profit margins. They do not care about yours. In my state there are over 80,000 notaries, the states population is only 7 million. That is about 1 notary per 100 person. Yes not every notary is a SA. But you should see the point.
Get your training the best you can afford, sign up on notary boards and work at it. The NNA said you can make a 6 figure income, their surveys prove you won’t. It is a side hustle for most and a business for a few.
Great post, @daniel_stephens - I will only clarify this part…
It’s actually $.67/mile for 2024 - and that number represents ONLY what your are allowed to deduct on your SE Tax Return - what a mobile notary can charge for mileage is entirely up to them (unless regulated by their state) and by agreement with the signers.
Other than that small item - great post!! Thank you!
Linda; yes each state regulates what a notary can charge for travel. I was referring to what we may deduct for tax purposes with the IRS. I use that as a mental calculation when they tell me how far the signing is and all the travel involved for the fee. I get lots of offers in my area like example of Coast to Coast for $35-$45 dollars to go 30 miles one way, round trip of 60, the 20 miles round trip to drop. That’s 80 miles for that fee. That is a money loser. But the newbie wanted LOVE. That is love. Learn your expenses mentally to determine to accept or decline. Signing service throw out a fee. If you don’t know your cost you are in trouble. Plus I didn’t throw in the issue of how much $ is your time worth for that 2-5 hours of work. That is separate from the expense side of the ledger. If all you cover is the expense your time is worth nothing.
Same, I didn’t expect anyone to hold my hand or make other seasoned notaries responsible for “teaching me” or helping me. + I paid for most of my training.
exactly, and what does that have to do with being a notary? these are the things we all learned on our own when we decided to be come independent contractors. All of these factors are state based! any run of the non-notary mill knows these things.
That about sums it up…as someone once said to me many years ago…
Forgive me for being blount…i don’t mean to be impolite…BUT in business unless one is blount Nothing ever gets done…
Newbies want an education. Reread the response from ms tisino
I was taught a minimum of $50.per hour
These days they offer $50.for HELOC
with scan backs…because of so many errors
How many email memos come about this bank is receiving paperwork with these errors etc??
You GET what you pay for. Mr and Mrs Signing Company
Why …
because only dummies take jobs for $50
People thinking this job will pay their bills are very misinformed by the u tube educators charging $$ for their courses to teach you how to make a career being a signing agent.
And earn $100k
Not these days and not anytime soon will you be anywhere near $100k.
A signing company tells you the average fee in your area is $50…but can’t and WON’T TELL YOU HOW they calculate the average of that fee .
They can’t because its rubbish .They paid much more themselves only last year for the same job
There is no respect for us and what we do.
For $5. That signing goes somewhere else.
I have other SAs i know that accept heloc jobs no more then 10.15 minutes away from them for $75.scan backs extra. Anything further …they ask for more$$ if the signing companies wont pay …they pass.on the job.so one of us closer to the job might take it .
If you are desperate for a $50 job that takes you 3 hours to complete from printing to signing scanning dropping .sorry…you need another job. McDonalds Pays much better with benefits .
C2c offers $30 for those loan mods in my area
I get a minimum of$75. FROM THE issuing title Company directly. And if i travel up to $125.
The bottom line is don’t go into this line of work if it’s going to be your only source of income. It’s decent “pocket money” for those who aren’t relying on it to survive, but if you need the money to pay your rent and put food on the table, you’re in for a very rude awakening.
@daniel_stephens Nice overview.
They may find this thread elucidating as well as helpful, if they take time to review & apply it:
As fellow business owners, regardless of the amount of love/kindness/support/insight/etc. we provide, the input seems to fade off into the sunset not applied & unappreciated . . . 
At least we’re not caustic/toxic/abusive like they are on other forum platforms! Thank You Notary Cafe for supporting a Welcome Environment!
…Thanks for ALL of the love from my post …
Thank all of you
Check out Notary Stars and their free mentorship meetings on Mondays. Great group of people.
exactly Joe…and back in our day we didnt have social media. Also being in the real estate arena like we have, to know how many people are involved if the NP errors.
Like on buyers docs, due to close on Friday and move in on the weekend and the Deed of Trust gets to the CR and the NP didnt fill it out correctly…
That’s the third time someone is promoting NS on this thread. When times are tough it’s cool to be able to go on line with a group of newbes for some “coaching”. Makes accepting those lowball offers okay cause you’re learning while you’re earning.
I think it so nice if people do what they want to and then be called dummy. I guess when you were born you had loan signing experience.
This topic is being closed - while the discussion started out encouraging and engaged, it has begun to resort to slights and insults.
NC_Mike