To@chelle1024and to all those who may not be cognizant . . .
It truly is contingent upon the saturation of professional signing agents [PSAs] in your Service Area.
So, the alert you’re referencing is normally only blasted out to specific target areas where the PSA saturation is high.
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I’ve shared multiple times over the years to calculate your individual cost of providing your services so that you have firm knowledge of how much it will cost you to provide those services. Ergo, you’ll immediately know precisely what your rate should be in order to make a living.
I’ll add that with the low volume of Signing Orders [SOs] and the proverbial flooding of this business sector with newbies, it sets up the race to the bottom of the barrel for fees . . .
It’s a very challenging time to be launching a business within this business sector. Add to that there are:
No paid time off/vacations
No paid time off for holidays
No insurance
No retirement
Etc.
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If you’re uncertain about the data regarding the saturation of PSAs in your region, access the Find a Notary tab (above on the Top Ribbon) to populate the appropriate fields & view that data.
I agree I have been with Service Link for over 18 years and they used to pay more they all did. Ive been getting loan mods from them and they pay me $75 which I dont mind because it normally is only about less than 20 pages no scans and its easy. Helocs I will do for $75.00 if local but lately these companies are really low balling us. I tell them I dont care if I get volumn I do the same professional job for all I have been in the overall business for over 45 years so if you want a professional you need to pay us. They have no idea some of the homes and places we have to go into. Dirty, nasty homes, dirt scary road we drive on to get the job done. Pay us what we are worth.
I’m inTexas doing Cashouts we need title or law office…my office fee is $75. Working with Signature Closures, and yes I lowered my fee from $225.00 to $200, only because the SBA pkg are about 50-60 pgs. The same person text Friday to see if I was available and when I text her my $200 fee, she had the audacity to ask if i could do it for $175. I had to remind her that I lowerd last time!!! She then text I’ll let title know, and get back to you…I replied text that they approved it last week…still waiting!!
Yep, and I said no, and I haven’t lost volume at all.
I only use loans to fill in the gaps in my schedule. I’m grateful for having this opportunity, but I won’t lose money to fool myself into thinking I’m making money.
My minimum charge for any job is $150 which is for 100 pages and less. If there is any markup throughout the package I charge for this service. People, do not give in to signing agencies wanting you to compromise your minimum charge. I also up my charge based on mileage and time and type of signing. We all know an application is typically 250+ pages x 2.
What is this jobs require 2 witnesses - I know I can be one but I’m getting in ovs saying they need two separate witnesses not including me. They want you to supply the two witnesses whom need to get paid are done so out of my posted $30, $50 or $65 for plus jobs that want scan backs and then delivery to a delivery drop off site. Again do not give in to anything less than $150 for you and reply that you do not supply witnesses , the signers must Supply the witness.
Texas - I had tried last week to sign up with them. They asked me for my fees and I provided it and told them I don’t do HELOC’s. Received reply back that they are not on boarding in my area. Hard to believe but glad in a way after reading these posts!
I too received that notification. my response was I might consider it if the borrower comes to my office and signs, waits for me to scan it back to you and borrower takes package to UPS/FedEx and drops package otherwise NO my fee is what I have quoted and due to inflation beginning January 1, 2025 I will be increasing my fee. If you are willing to work with me on that basis let’s talk. Thank you
It’s the redundancy that bothers me! Then I have to get the eye rolls from the signers who ask why am I signing the same document 4 and 5 times. There needs to be some kind of quality control before the documents are released.
My experience with this business (signing loans ) is that it never was paying well. It is almost always close to $15/h net income and wants you 200% concentrated in what you do and very much automated as well. It is good as addition to an income you already have. It works at $15/h in this case. But lately, this is $0-5 / h and higher licensing requirements etc. (presuming Illinois in this case) No way to make fast and good money from it only. I believe there is another site of this business where we can develop the main income from NO loan signings but everything else.
When there are people marketing “6 figure income” possibility with this business, it’s no wonder. I’m still a newbie and the last 4 years have flown by (well kind of). I had no idea mobile notaries existed until about 4 years ago. Service Link is one of the only signing services that keeps me busy these days, and I also got the “memo”. There are a lot of signing services that I haven’t heard from in months due to economy, high interest rates. I picked a fine time to become a loan signing agent, but in my book it’s still better than worker for someone else and not having any freedom. I’m so ready to retire, but I’m only 63.
I’ve actually been looking to sign up with this company. I’ve just had issues finding the sign up (though I’ve been pretty busy when I looked at it so could’ve just passed it).
I recently began working with them. Have yet to follow through with an assignment. I charge $100, within 20 mile radius. Higher later nights and weekends. They are aware, Mike Dawson, has been my contact. He accepted my rates. I won’t waiver. If all notaries would say NO to less than $100 we would be better off in rates. Just sayin.
I tried to sign up with them today. I have plenty of experience. They said they don’t pay extra for scans so I put my fees at $125 for refis and purchases and $100 for HELOCs and sales. Here is their reply: “Thank you for your interest in joining our panel. Unfortunately, the fee is above the average. We will not be moving forward with on boaring.”
They are sending heloc orders to me, $50. I take it if it’s local enough. I am updating my fees with them this week. One order was 50miles one way so I countered at $90, it was accepted but by the time they got back to me I was booked on another assignment. I’m guessing where I am there is a shortage of SvcLink notaries.
Just say no, for less than $100. Ive the reputation with one company, they accept most proposed rate of $100. Im going into 5 years of steady mobile notary as my second job. Im booked every month with my goal 5-10 signings. I’ve been hitting near 20 with fees $100- $130. Just unite and respect our worth! Just say No to the Low!
I met a woman back in 2020 who told me she gets $125 from ServiceLink with no scan. Both she and her husband were working from them exclusively and they didn’t give her any grief about scans.
I also requested the $125 fee for a refi in 2020. Later when volume went down and Refis evaporated, I started getting Heloc assignments. I cut back my fee and still had brisk business but at some point someone must have deeply undercut me. The most recent email I have received said that there are notaries in my area doing Helocs for $50. I cannot do anything less than a single document for that. My area is very expensive, gas is very expensive, printing supplies also very expensive. I said I would like to keep our agreed upon fee (between $75 and $90 depending on the Lender.) So far I have still received offers without going to the $50 level.
@keaton4notary This is a “standard” line they use, in order words "here fishy, fishy . . . "
===>>> This is Negotiation 101
Trying to get Professional Signing Agents [PSAs] to “take the bait” that someone nearby is actually providing these professional services for that low fee . . .
Akin to the Used Car salesman stating that “this number is as low as my manager will go on that car!”
Uh-huh => tell me another whopper . . .
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As I regularly state, as a business owner you owe it to yourself to create your own List of Fees for the professional services you provide based on your actual out-of-pocket expenses.
Honor yourself by standing firm on your calculated Fees based on expenses.
my response was I might consider it if the borrower comes to my office and signs, waits for me to scan it back to you and borrower takes package to UPS/FedEx and drops package otherwise NO my fee is what I have quoted and due to inflation beginning January 1, 2025 I will be increasing my fee. If you are willing to work with me on that basis let’s talk. Thank you
