Reverse Mortgages $_____
Notarize 1-5 pages$_____
If I were you I’d provide (a) an email address for personal replies for this info and (b) identifying information - who are you and why are you asking for this information.
No business-savvy person worth their salt is going to post their fees on a public forum for all to see. And if you aren’t with a signing service/company (someone who is going to send me work) you have no need for this information - if you’re a notary trying to get an idea of prices, please figure out your own expenses/overhead for these services and come up with your own fee.
Sorry…don’t mean to be evil or abrupt but this is quite a bold request…I for one would not provide all this on a public forum.
If you are uncomfortable providing on a public forum…you can email me directly at firstname.lastname@example.org
I am only asking to see if my prices are way over or way under what they should be compared to other signing agents. For example: I just did a Disclosure and the document was over 100 pages. The only page I did not have the client sign was the page for the attorney (I am in the state of South Carolina.) I then had to UPS the package back. This all was very time consuming! My charge was $100. But I feel I should charge more…
Then don’t provide it Linda…maybe others will be more responsive. Nice feedback!
Gena - I think your fee for that disclosure signing was more than fair; when I was doing loan work my fee was the same as for a loan signing - $125 (or more depending on location); also, toward the end I imposed a prepayment requirement for those…I would not let my fee be contingent upon the loan closing. If they never got the loan, then I never got paid? Nahh…that didn’t sit well with me at all.
Sounds to me like your fees are decent…
Pretty much agree with Linda–all the way…except more $ for mileage/travel time or scanbacks, if appropriate.
One question, tho’…did you really mean that the signer had to sign EVERY PAGE of over 100 page package as that’s pretty unusual.
No,not every single page, but it was a lot of signatures though. Every page, then about every third page or so.
I don’t publish my prices. I have to know what the want me to have the borrower to sign. Is it 100 pages or 160 pages, are there fax backs, do I have to race around and find a FedEx Truck to get them out. It all depends on the expectations of the lender, are they reasonable or not, the more they are not, the higher the price goes. I was asked to sign a customer at 9pm on Christmas Eve, believe they paid for that one!!
Fees are published on my company’s website. They are tiered and are non-negotiable.
Fees for things like affidavits, jurats, oaths/affirmations, cert copies, etc. are generally set by the state. You can not charge more than that per notarized page rate depending on your state’s laws/regulations. What you can charge for is your travel, after hour services fee, etc. when dealing with individuals.
Make it clear that you are not charging more than what your state allows for notarizing. Line item the fees if necessary on invoices to avoid confusion.
Typical SA B2B scenarios usually understand that those per notarized page fees are included in the cost of your services.
Again… check with your state or legal counsel on accounting requirements.
My base fee for each type of document includes a max page count, a max round-trip mileage count, etc. Mileage above the my max RT receives a per mile charge. Page counts above the base max raises the fees to the next max and so on. Fax/Scan backs are considered add-on services that also have a separate fee. Return trips due to changes, title or other party errors have fees. Reprint of paper work for any reason other than my error is a fee
My office hours are 8 AM - 5 PM. If a signing will not be completed, faxed/scanned/dropped by 5 it is considered after hours. That increases the fee again,
There is a cost of operating your business. You pay for paper, ink, vehicle maintenance, gas, technology, phone service, internet service, rent/lease/mortgage, etc. All of that needs to be accounted for in your fees before you begin charging for your time and expertise.
My business demands that I am compensated for any use of my resources (time, equipment, knowledge & skill sets).
We provide multiple services & have a print setup similar to what you will see when walking into a FedEx Kinkos. Thanks to that I know exactly how much $$$ is put into printing.
I have seen SAs “make” 4000.00 in a month based on deposits. After taking the time to show them how little they are actually profiting I leave it to them to change or continue to fail.
My fees cover my cost of operation and has my preferred profit margin included.
Yes… I have been told that my rates are too high from time to time. Just like us… signing co’s have profit margins they try to reach. Most of them are more than willing to conduct business at a loss to you.
Contacting me to “offer” 85.00 for a closing is so far removed from increasing my bottom line that it’s insulting. They are automatically rejected.
I regularly get calls from companies who rejected my fees just to have me go to fix errors. You get what you pay for.
The base line… This if YOUR business. YOU need to know your cost. YOU determine your margin of profit. Stick to your rates. Expand your offerings. Signing work should not be the only line of income you have.
DO NOT under value your services and DO NOT let another party under value it.
This is probably the BEST advice on pricing that I have read on any Notary board or blog. This Gentleman has the right idea and the ability to explain it in a way that makes complete sense (a rare quality). Thank you sir for taking the time to explain a difficult concept with such a level of clarity…
Dominus - As a semi retired person in Northern CA looking to potentially become a SA, I greatly apprecited your insight on how you determine your pricing and more importantly, your worth! Working in real estate for over 25 years, I feel it would be a good fit
Could I be so bold as to ask for you web address? I’d like to see how you structured it if you don’t mind
Thank you again for the past post and I hope to hear from you
Tina in N CA
Dominus, Could you please provide your company’s website?
Definitely the best reply, can I have your company website? I don’t get too many signings because I decline anything under $100.00 due to the intrinsic costs.
I’ve been rather busy lately and haven’t much time for anything that isn’t business or health related.
TAKE CARE OF YOURSELF or it’s all for nothing.
My website has been taken down while I re-design. I need to integrate some options that will make billing and other SOPs much easier for me in each of my lines of business.
That doesn’t mean you are without hope.
I was blessed to find Theresa Romero’s site when I was researching pricing for services last year. (Click the link then click Fee Schedule) It established a firm foundation to start when considering rates. I then did the math specific to my needs & wants and adjusted up where needed (most everywhere).
It’s still a good start to consider (not exactly mirror). What may be profitable for one may be a loss for you. This is where you seriously need to consider every possible expense that impacts your business.
I do not live in snow country or in the mountains or on either salty coast. My cost are not yours simply due to location, law, goals, and definitely personality.
I contacted her with a sincere thanks as her experience helped me in my endeavor and she graciously responded with encouraging words, well wishes, & appreciation in knowing she was a help to another.
I honestly have no idea why people get all in arms when they are asked their rates.
People ask because they need the help.
Why complain about “how the industry is being ruined” by people accepting low-ball fees if you’re not willing to help people NOT do just that.
You can PM me for more help IF need be. However… do your work before contacting me. I would have to see a good amount effort before helping beyond whats been given.
And yes… I am more than willing to pass along my fee schedule. It’s already been made public, I would like to see some work first. This is a good lesson for anyone considering going into any business. Simple AP/AR and expensing.
I will follow up with anyone that contacts me this weekend only. You will move on anything that will help you if you are serious about your bottom line.
you have to experiment on pricing. start with understanding your actual cost including depreciation on car and cell phone cost. many say they already have those so don’t figure then in the cost and then wonder why they don’t make any profit Generally if you get 30% of the jobs offered you are price will. less than 25% you need to reduce price and if you get more than 50% you need to raise prices. I have been told i get $25 more per job than others but i go anywhere any time and am the last minute provider.