What is considered an over saturation of signing agents in your area?
I can get an idea of how many LSA’s are in my area thru signing agent and I know the population of my tri-county area.
What notary to population ratio does everyone use as a guide?
I can’t give you a specific answer to your question, but what I can tell you is what you are seeing on signing agent. You’re only seeing the ones that are listed on that particular site. There are numerous other sites that list notaries so what you’re looking at is only a fraction of those available out there
3 million population/signing agent might get you to the 1/2 percent making 6 figures (my best guess–not a fact) Or…you have extremely good connections. (not marketing…but people who already know you & prefer you.)
I don’t know if someone has figured out the NSA to population ratio to determine market saturation. What you’re looking for is the NSA to the number of Real Estate transactions or General Notary Work. Since ours is a commodity service when there’s a slow down the market is saturated even if there’s no change in the number of NSAs. The reverse is also true.
I don’t know the answer. What I do know (and this is just mho), is that it doesn’t matter!
You may find bunches of people on any list such as Notary Cafe, 123Notary, etc., that are “signing agents”. But, many of those notaries may not even be doing closings and just don’t answer their phones when calls come in from phone numbers they don’t know. At one time years ago, I used to work as a signing agency. Many of those notaries don’t answer their phones which tells me they are maybe keeping their options open, but are not working as signing agents or have full time jobs and want to one day do closings.
Then, you have the real “competition” which are the seasoned notaries that have been doing closings for a while.
Lastly, I believe you are spinning your wheels trying to determine these numbers. I don’t think finding out the answer to this will provide you with any value. I remember how backstabbing and secretive signing agents were in the past. They were too afraid to tell anyone anything for fear they would lose work. That just isn’t the case as there has always been enough work to go around.
Anyway, good luck on your endeavors!
