Some Signing Companies Are Shameful On Offers

I received a signing available in a town many miles from me and I would have to take a cab to get there. Signingorder.com had the nerve to offer a compensation of $20 and it required scanbacks.

:rofl: :rofl:

What is with these signing companies? Only Signature Closures has been offering a great compensation for signing assignment.

3 Likes

Cheryl, couldn’t you just drive? Taking a cab means that same cab would have to wait for you as you completed the signing… If that is the case, then yes, you would definitely be losing money on a signing even if they offered you $150 for that same assignment. Cabs are expensive. If signing location is too far (and often it is because they have absolutely no idea where you are in relation to where the signing is taking place) then decline for sure.

Also, signingorder.com is just the name of the platform that a multitude of companies use to fulfill orders. You could always counter if the rate they offer does not match your rate.

4 Likes

@cherylgoins Welcome to the Notary Cafe forum!

To answer your actual question, this business sector has been SATURATED over the past 2-3 years with an overabundance of new BUSINESS OWNERS/Professional Signing Agents [PSAs] seeking Signing Orders [SOs].

There is the law of Supply & Demand in any business sector.

You’re correct. The Signing Services [SSs] are engaging in shameful Fees, due to those new to the business sector who are accepting ANY remuneration for their PSA services . . .

======

There are at least 2 actions you can take directly in this instance:

  • Any SS on the platform that offers shameful Fees, you can scroll to the bottom of that page & request to NO LONGER RECEIVE REQUESTS from that business entity only.

  • ===>>> PLUS, there’s one additional technique that you may find to be QUITE EFFECTIVE . . . Code the Contact List in your phone . . .

  • Why take the time to do that?

Because you will IMMEDIATELY KNOW beyond the shadow of a doubt when a call comes in . . . who to accept & who to reject.

One technique for Coding your Contact List would be to place a leading 2-character prefix that identifies the Group that phone number has placed themselves within from demonstrated behavior:

  • NP = Non-Payer
  • SP = Slow Payer
  • LB = Low Ball Fees
  • LD = Late Docs
  • NN = Non-negotiator

Etc., etc., etc.

There are several other techniques (Search Google) for Coding your Contact List to assist you in filtering your Inbound calls.

:swan:

5 Likes

You don’t have to accept any fee you believe is too low. It’s just business. If notaries stopped accepting ridiculous fees they’d start higher.

5 Likes

Oh I like your advice and appreciate the tips and it made me laugh the code names you suggested. :rofl :rofl:

I am trying to get the hang of this notary challenge. I have had my notary credentials for a long time but I really haven’t used it to the fullest. I searched my area for listed notaries and there is only one other signing agent located near my town.

CNsa5, clarify what you mean by “SS on the platform and scroll to the bottom of that page & request to No longer receive requests from that business entity?” I am not on a notary platform and receive these text requests from the companies.

I appreciate the tips greatly.

Thank you for your input and I am trying to see is there away that I can list my fees on my NNA’s Signing Agent profile. I am assuming this would cease the low ballers from contacting me too.

Blessings Carmen, I am unable to drive and it’s thee reason for using the cab service. You taught me something new about the signingorder is not the actual title company.

I thought that was the title company’s name but now with having that way to search title companies on the state website; I can check the name to see is it a title company contacting me directly.

1 Like

@cherylgoins You’re very Welcome :tada:

To answer your query about the SSs: It’s the business entity name you’ll see on the platform you have referenced in your Original Post [OP] above; i.e., signing order .com

:swan:

No, I have my fees everywhere and I still get them and I just take the time to counter offer and I move on

1 Like

I would say about 50 to 75% of the signings offered have payment so low I don’t accept them. I don’t even bother countering them when they’re ridiculous. Snapdocs does that occasionally. They don’t understand notaries have to make money too. A lot of the problem is title isn’t paying them enough and they need to learn to negotiate too. I am rural and it cost me $26 to make a round-trip to overnight something with scan back, plus the cost of going to the signing which can be another $26. Most of my signings I accept Or negotiate are $125 to $150, depending scanbacks or not. Sometimes it’s just a couple of pages, but the distance here is what matters.

1 Like

Yep, that’s my issue with living in rural area and my county is so large. A town that seems close to me in reality isn’t in taking cab service there. It turns out the ride will be like 40 to 45 minutes being I sit on the highway that’s straight. A U-turn in another direction is like a mile down the road and causes the trip to be longer than needed.

Thanks for the tip on your negotiating price. It helps the estimate amount you given in stating my fee price.

No judgment. Signing agents are exclusivly tasked with returning a complete package error free. I don’t think a lot of signing agents fully explain this roll to the signers. Since the signers are acutely aware (its listed on the closing disclosure) of the hundreds of dollars they are paying for your service, they are righty expecting you to professionally guide them through the signing process, But they have to co-operate with you to insure an error free delivery. If you the agent knows you’re getting Fk’ed by the middle man going in you probably won’t give the 100% the signers are paying for.

I appreciate your insight and agree with you. When I started as a signing agent, it was explained that my location was oversaturated. The more counties I was willing to serve, the higher the potential volume of business I could get. I quickly learned that “distance” was my friend. The downside was that companies were pricing their assignments based on zip codes. In other words, those orders were meant for the signing agents in those specific zip codes. It was only when signing agents in those zip codes weren’t available that companies would call LSAs outside of those assigned zip codes. That’s when we had the opportunity to negotiate fees. Then companies switched to automated systems and platforms, which changed everything. We lost human interaction, and our leverage for fee negotiation was limited. This created a sense of fear among new signing agents and a frenzy among seasoned signing agents. The fear stemmed from the possibility of losing an assignment; we quickly understood that signing orders would be taken within seconds. This worked to the advantage of the title companies and signing services. Additionally, the overabundance of signing agents in the marketplace created the “perfect storm” for suppressed signing fees. Business 101 dictates that we each must decide for ourselves how to function in today’s market. I chose to reduce the volume of orders, raise my fee schedule, and shift my paradigm in the way I approach this business. I keep an eye on business trends and look for new opportunities to increase my ability to make money.

2 Likes

@cfletcher Concur :100: percent & it’s a “mantra” I regularly share with fellow business owners/Notary Cafe members. . .

:swan:

2 Likes

Forgive me for asking. Dont you have a car?
no way is this a cost effective profitable business for you without using a vehicle.unless you live in a city like ny or chicago with mass transit

1 Like

@CAFRAN2 she stated she did not drive

1 Like

@CAFRAN2 Please see the excerpt quotation noted above.

:swan:

Not aware of fees on NNA
JUST COUNTER ANY LO BALL OFFER
FIGURE $50/ HOUR .
WITHOUT A VEHICLE…CONSIDER SOMETHING ELSE TO GENERATE INCOME.
oops sorry for caps…business is slow and companies are offering ridiculously lo fees .
Amazingly all the same companies.
My direct business keeps me busy but took me some work to establish the relationship.
There is no teaching only learning…the library and internet are a wealth of information .free
Persistence overcomes resistance…
As somebody said. As a mobile notary. A vehicle is necessary cabs will be extremely expensive and you wont be profitable.
Educate yourself about this business and whats involved .
We supply the materials ie …paper ink toner printer computer
We must be insured. E&O AND vehicle plus gas and upkeep
WE MUST HAVE BACKGROUND checks every year and NNA certification
Clothing …we must be presentable
My fee for a 175 page re fi within 30 minutes from my home $150. Scanback extra…larger package extra.
I print 2 copies and prep the package w sign here labels .i review the package to make sure i understand anything and everything… title companies have docs they put in for themselves that are slightly different by company i require a title office loan officer cell phone to call directly with any questions i have.
I tell them i want to be sure this is done correctly the first time.
Nobody is mad that i call.they LOVE THE FACT because they know im seriously about the docs.
This was how i developed one of my direct companies. They made me a preferred notary …then they offered me direct business.
In this area …if im not available…i refer to 3 other notaries who are friends and professionals.
We keep the business among ourselves…the title company call me first…and i will travel for them since the fees are favorable,and they still save $$ over their previous signing company arrangement.
Its also easy since i now know their packages and what is necessary to sign them.
It took a while to list with companies around the country…and effort to find lists.
Im in a situation where i take what i want when i want.
At one point before and during covid i was doing 40 50 signings per month for 1 bank.direct at $125-150 each…not anymore …now 25 a month. From one client.
The effort is rewarded…my two title companies give me business as well.
I only take jobs from 4- 6 signing companies if at all.
Signing order contacts me but i tske or bid on what i want at my fee not theirs . Either they pay me …or not.
Certain companies using signing order told me they look for me first…hoping i will respond …they pay fair fees
My work is flawless using these methods.
I have completed 000s signings without an error.
I ask for the title officer or loan officer who can answer questions about the package.
If the signing company wont tell me …i question them and tell them im not wasting my time waiting for you to call and get me an answer .
Either give me the information so i can get this done correctly …or reassign it. I usually get the info and i tell the signing company im not interested in stealing your client…I am interested in getting the job done correctly the first time so we all get paid.
My results speak for me and these signing companies have my record right in front of them
0 errors …on time turn around . …professional
But you must be direct and to the point.
I wish you luck

1 Like

The simple answer on this one is just don’t take the signing.

Id think she can’t just drive because she doesn’t have access to a car.