If you are already working you can use it to offset car/vehicle expenses on taxes?
1 Like
Now we are getting somewhere. There are too many signing services. Yes, there are complaints about the pay when it’s your fellows’ notaries who are becoming service or acting on behalf of a signing service could be doing the lowballing- May I ask since you all became notaries how many replica signing services have you worked with? Are they lowballing too?
The reason I’m asking is because new Notaries will be put off by the pricing and the older notaries will be quit by the pricing.
Old-fashioned marketing is the answer
.
1 Like
Hello, I hope you are doing well. Although I understand the frustration from low fees and the need / desire to make more money, but I think this is an individual decision. Everyone has a price. Sadly, those starting out would only get experience by doing these low paying opportunities, me included. I work full time, I Uber and I am a notary. A $75 loan closing for me, in my area and my experience, I would be balling! I’ve done more for less! 
2 Likes
And THIS is why I say it’s part of the problem and not the solution!! Please realize that there are people here whose sole business is based on notary work - and has been for years - this type of attitude kills it for those who are trying to sustain their business.
I guess there is just no getting through to, and abolishing, this line of thought. smh
5 Likes
I am aware that some in here are working full time AND are also trying to sustain OUR business. However, It’s a free market and telling people not to accept an opportunity because of the amount that its paying - could be considered a form of monopoly. Sadly, all these system signing companies are making money signing people up to become notaries, saturating the market, thus low paying signing assignments. They know what they are doing and they are not suffering. Signing Service companies are making money from the spread they charge the title company and the money they pay notaries. I understand you, I feel the same way as you when an Uber driver takes a delivery for $2. But then I think, I don’t know their financial situation and probably this might help him/her out. There are people in different income and financial goals, profit margins, etc. Who are we to tell them to miss out on a money making opportunity because your market value for a service is different than theirs?
.
.
.
BOTTOM LINE: This philosophy to accept lowball fees (advocated for by Signing Services [SSs] regularly) is certainly NOT sustainable within this business sector.
The sagacious insight by @Arichter is something VERY important to consider.
Each of us is a Business Owner/Independent Contractor. YOUR business expenses to operate YOUR individual business will vary from region-to-region across the US. No one can make the determination to Accept OR Reject a Signing Order fee, but each individual Business Owner at the time it’s proffered to them.
Each Notary Cafe forum member has the freedom to express their perspective & provide input/insights regarding the current state of affairs within this business sector on any notarial topic.
.
.
.
3 Likes
Ive been axreal estate agent just shy of 40 years. Im mostly retired from that. I still do valuations from banks. I started doing thise in the early 2000s as we were entering foreclosures. Later i listed foreclosures for banks. I used to get $100 a full exterior valuation. Now the pay is $40 to $50. Values and inflation are now much greater too. Belt tightening is for the guy at the bottom!!
3 Likes
Stop depending on signing services start marketing for direct clients. Signing services will pay cheap if they don’t hve to pay the $100 and over. Again direct for the more experienced notaries. I hve 5 direct clients I’m busy, I also do general notary work, I’m busy, I now do apostilles extremely busy. It’s time you branch out. Best to everyone.
9 Likes
This is the correct avenue to take
I get it when you say: “I feel the same way as you when an Uber driver takes a delivery for $2. But then I think, I don’t know their financial situation and probably this might help him/her out”.
However, rejecting such low offers means fees must rise to get the need met. That helps everyone, not just the $2 guy. A rising tide raises all ships,
6 Likes
I agree i have been a signing Agent with Mortgage connect for over 15 years they started out paying $100 for a standard refinance now they pay $65 to $70. Why???
Here’s the other reason why we need to band together and stop accepting low fees, because after you do the work, many of these SS expect us wait nearly 2 months for payment, for services that they were paid for in 3 days to a week.
FYI, for those of you new to business that means you’re losing more money in time. “Time is money and money is time.” See below my response to a client of mine that I have already completed the signing a month ago, and now I’m being told I will be waiting another 2 weeks or so for payment!
"I appreciate your prompt response. However, I find myself puzzled by your answer, and would appreciate further clarification regarding the significant delay in payment for the recent order. Ordinarily, a same-day funded close does not take 1.5 to 2 months to process.
While I understand that unforeseen circumstances may arise, my commitment is to ensure my clients receive the same level of professionalism that I uphold for myself, and my business, and that begins from the initial engagement with the client to payment of services. As I’m sure you know, and can understand, the obligation to wait 3 hours at the client’s home post-closing, makes it even more critical for timely payment to be received.
Could you kindly provide insight into the reasons behind the prolonged delay in payment? My goal here is to understand, and align myself with your business needs, expectations and to maintain transparency for this ongoing business relationship to continue in the future. Please know that this clarity is of utmost importance to me and the future of my business relationship with you.
Thank you for your prompt attention to this matter."
Now, I’ll probably lose this client, or they will now respect me and the services that I provide and pay me more timely in the future. If they choose the latter, I will now have to charge them more money in case I have to wait 1.5 - 2 mos for payment. That will be my surcharge to them, or they can go to someone with less experience and willing to take $100 for a commercial loan closing that was funded the same day, while they were paid 3 days to a week later. (Note: I’m embarrassed to say, I accepted this loan for only $275. I should have charge them $400 or more.)
4 Likes
Well ya’ll will be happy to know I declined a job that required driving 30 min to the signer and scanbacks. As a sub teacher I make $120 a day so $50 was easy for me to say no to lol
Yea these signing services have go to go… because I am almost certain they are getting 250-300 and then tossing me enough basically to cover gas. I just did a trust signing that paid $300 imagine me doing a loan package for $50. I know I will most likely be “blackballed” on this service but that is ok. I’d rather grind it out to make a direct signing contact. I’m certain they found someone however because they didn’t even reply back as a courtesy.
3 Likes
And that is so sad we do alot and should be able to make a living doing it. These companies low ball so low alot of notaries just quit and work a 9 to 5 .
2 Likes
Good for you its just so sad im with all of you i will not accept low ball offers they can sit on the dashboard lol
2 Likes
What’s the definition of a direct clients?
1 Like
You can always negotiate fees. If I have the time and like to work for the company offering, I respond with my fee. If I get the job, good for me. If not, the company may get the exact work they are paying for.
Title companies have been known for firing signing services.
2 Likes
The definition of a direct client is a client typically a title company that you personally establish a relationship with and they call you when there is business in your area.
This sounds a lot like Mark Willis’s sermons of ‘just go title direct’. During the refi push TCs became swamped with notaries pounding on their doors that many TCs decided to rely on Signing Services to screen and manage NSAs. In markets that are saturated with NSAs, the go direct plan often falls on its face. Many of your colleagues quietly laugh at those to preach this sermon.
1 Like
You can always negotiate fees. Getting the vendor to accept them is a different story,
1 Like