any good tips on getting new business? relatively still new, ben doing decent but I could be doing better. would appreciate any type of suggestions.
Slow money is fo sho money. Focus on building relationships with your hiring parties and the signers. I also invested in nice premium business cards that I give to each signer after each appointment. By doing so, I’ve been requested to do GNW and other loan signings.
I’m 2 years in and I grossed 100k so far this year. I did so by not price gouging and ensuring that I was offering a good product. Signing Services want the lowest bidder. Title companies prefer quality (generally). Also, once you become a preferred notary under most title companies they will set you up to do hybrids through Pavaso or RON.
Try to get under Bancserv, Amrock, Mortgage Connect/Inspire Closing, Timios, Xome, First American Title, Solidifi, Old Republic Title, ServiceLink. Title companies should be 80% of your revenue. Signing services should be used to complement your revenue.
Also note, the title companies I listed typically use their own notaries first and if we are booked, they send out to signing services that will offer you $65 to hold profit for themselves.
My last advice is location. What’s the per capita income in your county? How are the schools? Is there other investments happening in your county or surrounding counties? Follow the money. Where people are making money you will make money because it be alot of purchases, refis, HELOCs in your communities and on their properties in other parts of the country.
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If you type ‘newbie’ in the Search field, you’ll find loads of very informative & bountiful resources there.
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What you said about chasing the money makes sense. I notice a lot of signing notifications I received are 2 counties away from me. In that county, the medium house for sale is the mid 200,000. How do you build relationships with hiring companies when most of them do not answer the phone and the emails are directed to a general email (info@, sales@, contact@)
Hi Stacey, at the beginning of your journey you have to take it one step at a time and perfect your signing experience. For me, the signer always comments that the experience was painless which helps me earn more business. Once you have enough good reviews from others, everything else will fall into place. You’ll just have to strive to get under those companies I mentioned prior. It may not happen all at once, strive for a marathon ascend.
Many notaries want quick strides to success and I always looked at this business as a marathon. Local companies reach out to me because their customers have requested me.
Thank you for responding. I am in it for the long haul so will continue to learn and grow.
Lastly, stick to your fee schedule it will give you a buffer when things slow down. Things are slower now but my income is still around 14-15k a month. Last year I was in the mid 20s. I’m located in the Philly area. In any business, you don’t get want you deserve you get what you negotiate. Everyone is typically looking out for their own interests