I know most seasoned NSAs already know this, but just a friendly reminder. For the newbies, something new to put into action.
DON’T LEAVE MONEY ON THE TABLE!
A few days ago, I had a call from a new-to-me escrow company for a purchase signing for 8/23rd. No special instructions – no scan backs, no Spanish required, only 2 signers, signing was only 20 minutes away, package was 130 pages and was ready, I schedule time and location with signers.
My response: Yes, I can accommodate. What fee are you prepared to pay? Her response: Let me see … I have $350. My response: That works! !
We just have to remember that escrow/title companies usually already have a set amount dedicated for the notary fee. So, instead of asking all pertinent questions and then quoting our fee, we should ask the pertinent questions and ask what they are prepared to pay.
When dealing with a signing service, we just have to remember that signing service is probably getting that higher fee (anywhere from $200 to $350 or more) and offering piddling fees to the NSA that’s doing the actual work. Do the math. That SS is getting $350 and offering you $50 for a full package with scan backs! Does that make sense??
Also, remember that the scheduler may respond with:
“What fee would you charge for these services?”
This would be a response from someone who knows the ropes & knows how to negotiate.
Of course, at that point one must be creative in their response!
@yolicue Clearly understand this query is rhetorical, but NO, it doesn’t make sense!
Hoping your suggestion helps the newbies understand the power in their position. I’ve been sharing these insights for nearly two decades & will continue to do so . . .
When you live in an area of great wealth, people will pay well for the convenience of not taking their personal business down to a UPS store. I have always wondered why 7/11 hasn’t required their clerks to get commissioned; heck, they’re leaving money on the table too.
Nothing gets me madder than looking at the settlement statement and see how much money the scheduling company is getting and what is my share. If the discrepancy is too great I remember for next time and open with a higher fee. I give preference to companies that are more generous. Some companies only allocate a small amount of money for notaries but still give that entire amount to us. I did a Christmas Eve signing with six signers two years ago. The signing company acted like they were giving me the world by paying me $150. Her end was $600.
percent Accurate.
