There are only the notaries who short sell what they do and accept a low ball offer or a lousy fee.
There is a constant lament in the forum like it’s the industry’s fault initial fee offers are so low. But no one makes anyone do a 150 page refinance for $60. There are only the eager notaries who grab whatever they can so they can turn around and complain about it.
No one makes anyone do anything at a fee lower than is profitable. I never found this forum the first year I worked. Probably a good thing I would have been depressed all the time. I did a lot of work lower than I should have but gained a lot of experience. After a year, I actually published my fees. Which are not as high as some and never as low as a service tries to hire us for. But my first year as a loan signing agent I made a grand total of three mistakes that made me return for a fix. The next year I stopped taking whatever fee was initially offered.
Every region is different. You have to gain experience in your region to understand what the standard rate is going to be that you can ask for. And it’s not the signing services fault. They cannot be blamed for making more money to support their own business. Either learn to counter offer or find a new hobby. Because the forum should boost your moral and encourage a better attitude and a great attitude is a must have if you are self employed.
It’s a long weekend, enjoy it. And find something else to talk about other than how bad the pay YOU YOURSELF accepted is. Because that’s not how your fees are ever going to improve.
Sorry for the rant, but honestly people. There should be help and encouragement and good advice here. Not a constant complaint you don’t get paid enough for your oh so valuable time. Have a nice weekend.
Thank you for sharing your insightful perspective on fees and the intricate dynamics within this industry. Your points are not only valid but also resonate deeply with many of us working in this field. I am particularly drawn to your statement, “I did a lot of work lower than I should have but gained a lot of experience”. It seems to perfectly capture the shared experience and the essential learning curve that so many of us navigate in the beginning of our careers. At the beginning of me becoming a loan signing agent, I have also encountered similar, invaluable guidance from seasoned notaries across various online forums, including this one, which consistently emphasizes the critical importance of this initial learning period, even when it involves accepting rates that might not be ideal from the outset. While it’s understandable to feel frustrated and express our opinions about what can seem like “low ball offers or lousy fees,” it’s essential to maintain a healthy perspective. It is okay to “rant” and vent about these feelings, as long as it doesn’t devolve into self-destructive patterns that can lead to depression. Here’s my takeaway: once an individual moves past the “learning curve” and gains knowledge and experience, they must put that applied knowledge to use to build and operate profitably. It’s okay to acknowledge the truth about this business; yes, there are “low ball offers,” and that’s part of the art of negotiation. Yes, these low ball fees are lousy! Here’s the great thing: we do not have to settle or sell our services at these low rates. For things to change, we have to make a change!
I counter almost every offer I receive that I have any interest in. I get some and I don’t get some. Either way, it’s okay. I’d rather not work than feel like I was taken advantage of.
I started my journey in April of this year. Have I taken some fees I shouldn’t have? Sure. Do I feel okay about it because I have a full-time job…also yes. Do I still accept those fees as I gain more experience and confidence…No. Am I okay with missing out on signings because I countered and it wasn’t accepted…also yes.
This is my second full year as a NSA. It is only one of several service offerings for my small business which I started in mid 2022. In the beginning I took low-ball offers because I was brand new, needed experience, and needed income since I was no longer working a full time job. Once I got my legs under me, as it were, I started looking for higher fee work and countering the offers coming through sites like SigningOrder and Snapdocs. As with many of the other notaries who I have seen comment on this site, some orders I get and others I don’t.
I am fine not getting a particular job if it means not spending precious resources (e.g. paper, ink, gasoline) on work which will not cover my costs and allow me to draw a living wage from my business. I used to think that not getting the assignment, and therefore, not getting any money in the door was a loss. But the accountant in me learned that taking the job and spending more money than I made, actually resulted in a loss. Not getting the assignment, in this light, means being able to save those resources for the more lucrative work.
Reputation is a very large part of getting the higher fees from signing companies. I strive to consistently deliver the best work product so that I can maintain my status as a preferred notary in my area for all companies with which I work and, therefore, command higher fees. But there is also an educational and philanthropic component to it as well. Many of our fellow notaries, a lot of which have experience and do great work, are still stuck in a scarcity mindset where they are reluctant to pass up financially dilutive work because of the fear of missing budget and not being able to pay their bills. It’s up to those of us who have overcome this hurdle to help our fellow notaries do the same so that, together, we can elevate our profession and establish a consistent standard for what our work is worth.
I have said the same thing several times, no one is making anyone take an order. If you don’t like the fee keep it to yourself, we don’t want to hear about it.
As far as accepting or not accepting a certain fee…I look at more than just the dollar amount. I look at the location, time of day, transaction type, and who the title company/lender is (some are more prone to difficult packages than others). In other words, not every offer is created equal. There are a lot of quick decisions that you have to make about whether to accept, ignore or counter. That all comes with experience. Another trick that I’ve learned is that the further out a job is (timewise), the less wise it is for you to jump at any offer. If a signing date is a week away, why should I accept a lowball offer? I have a week to get a better offer for that timeslot. However, if the signing date is tomorrow morning and I don’t have anything booked for that timeslot yet, maybe I should accept this offer or risk not having anything. All of these little details factor into your decisions.
It is very disturbing to me that these title companies or signing companies offer you a small fee for your service. I will not do anything for less then $100.00. I think if everyone sticks to their guns, they may wake up. Remember they need us as much as we need them. The companies make money as well and you are doing the work.
Attempting to distract that the problem isn’t about $60 offers? The inflation that agencies ignored for paying the same $100 or less amount over the past 15 years is greed and at times a form of slavery full of bondage for NSA’s.
Agencies have made a killing while notary signing agents make little to no profits. It’s become a hobby for many lonely seniors to get out and meet people hoping to get a nice cup of coffee out of it.
