We are all feeling the economic pinch right now, so there’s no need to dive into the details. The cost of doing business in my area has exceed any reasonable ROI. This has brought me to the conclusion that , for now, I need to scale back, not stop, my NSA business so I can focus on other business opportunities. I’ll still be around here and on other forums so I can monitor the temperature of the economic climate.
You can message me on NC as it will forward your message to my business email. You can also message me through my business web page; Info@Riverppiontetax.com.
@RiverpointeTax Thank You for your insights within your areas of expertise/bailiwick! Sorry that you’re trimming back, but it’s GREAT to know that you’ll continue to check in! Appreciate you/your efforts!
I want to clarify I’m scaling back, not leaving. From a different post, "The last numbers I found indicated "Texas took the lead with the highest statewide number of Notaries at 484,230 currently commissioned, an increase in more than 56,000 new Notaries since our last census. [NNA Aug 24, 2022]. That’s about 1 Notary per 60 individuals in Texas.
Currently I’m only taking engagements from one Signing Service, a small collection of TCs, and several law firms. I know this will sound rather callous, please don’t ask me how to get in with law firms. There’s not much business in the legal field and I can’t afford having you competing against me.
We have all been SCALED BACK … My handful of TCs is still at it every week but its way off the numbers it was
we all know why, I feel sorry for the newbies who are jumping in looking for 6 figure incomes and taking $80 re fi signing with scan backs traveling 90 min each way
add up the time its close to 5 hours to complete this job. even if you live 30 minutes away $80 is a lo ball figure
Of course this comes from a SIGNING SERVICE well good luck to you all and we’ll talk later
I caught an add on one of my social media accounts of one of the famous 6-Figure professors continuing to sell his program. Now that the economy is getting a bit soft I expect to see a new collection of his disciples stopping by for a reality check.
Six figures by a single Signing Agent were only possible during the heyday of signing when the rates were at historical lows and we were able to demand higher fees. What we are seeing nowadays are predominantly Helocs, Buyer and Seller and a handful of cashout refis. The volume is not enough to make up for the past trends. Selling the ‘how to’ side business will always be out there and for those seeking a long-term career path may not be a bad option if it helps to prevent costly errors. Currently I have experienced exotic loan packages for out-of-state purchases and sales. They are a drain on time and effort because they come rarely so a signing agent will have to look at those documents extra carefully. Just about everyone is asking for a scan back which means shipping pressure. The current environment is lean, difficult, low-paying and many times involves long distances. If you can take the pressure and stress you might be around for when the rates finally drop. Nice to have a backup business to weather the storm but for some, I think this is the only source of income.
From a different post, "The last numbers I found indicated "Texas took the lead with the highest statewide number of Notaries at 484,230 currently commissioned, an increase in more than 56,000 new Notaries since our last census. [NNA Aug 24, 2022]. That’s about 1 Notary per 60 individuals in Texas.