What is the average fee to charge for a remote Notarization in Illinois when you have to pay a certain amount of money to the platform provider
What does your state allow for these? That’s all you can charge is your state-mandated fee for remote notarizations.
So, how do you make any money? And if I sign up with Notarize.com for training and their work platform, how much are they paying for my time block? Some say $5 and others say I can expect to net $15/signing. I guess I would sign on for a block of hours to be their remote “rep.” I cannot see that having a remote notarization certificate or signature would be cost effective for anyone. And the way I understand it, I would be an at-home notary on Notarize.com for $5/15 per hour. Is that correct?
I was wondering the same. How much does a RON notary actually get paid ?
Signix will charge you $10 for the first stamp, then 5 each after- NOT ever to exceed over $60 charge from them. The example they gave said the signing totaled $125 so Signix charged $30 bucks for this transaction
.so you would pocket $95.I am trying to find that page where they laid it out for the notaries to explain the rest to show how you make money. It is quick saves time money gas paper ink etc.TN approves this fee for remote notarizations.
Okay…help me here.
This leads me to believe there were 5 notarizations in the package - those 5 notarizations total $125 notary fee per TN law - how do you make up the difference between your allowable fee of $125 and what you have to pay to Signix. Have you increased your fees accordingly.?
And I’m not being sarcastic asking you to help me…I’m not RON certified, have no intention of getting RON certified - but am very curious just how profitable this is/can be for notaries
TIA
Hi LindaH! I know you aren’t being sarcastic LOL, I have seen you on here with your knowledge and helping so I would never think that. I am still learning about these RON platforms as well. I gave the example the trainer gave us.
From what I understand, we all know that the paper signings avg time is about an hour. the notarization for this closing took about 15 min? I wouldnt have to raise my fees to be profitable because in the amount of time to do a closing on paper I could do 3-4 closings RON style.
Let’s say I do 3 so that is $285 I have made in less than an hour ( theoretically saying after fees charged I am pocketing $95). you could schedule these all day long. That isn’t happening yet of course as I am still building my client list, but even adding to that doing Wills POA’'s, acknowledgments, the money is still there to be made quickly. It is also much more secure actually than a paper closing with the encryption that have been put into place… From what I have been reading and researching RON is getting bigger and bigger. So I am positioning myself slowly to become super comfortable with it to keep my business going. As far as jurat fees go and the smaller fees I do not think you are charged. However, I am going to look later today to copy the paperwork so it can maybe explain WAY better than I just did haha- but I wanted to answer you as soon as I could. Once I find it…I will tag you so you can see what I was trying to explain.
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I’m not sure I’d be comfortable doing a POA this way - I’ve had to walk away from POA signings because ,contrary to family’s information, the signer didn’t know who they were or where they were, never mind what they were signing.
That face-to-face cognitive observation is invaluable.
Glad to hear you’re looking forward. Keep us posted how this works out for y ou and good luck!
Agreed- I definitely would not do a POA in that situation. I know my NSA friends have most of those in hospitals or nursing homes when a situation like that happens.I totally agree with the face to face being invaluable.
Thank you, Linda, for the well wishes! I definitely will keep yall posted on the good bad and ugly Be safe and have a good Sunday!