Title Companies and Brokers may be Paying Less to Notaries for Several Reasons:

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  1. Market Saturation: There are many notaries available, which increases competition and drives down fees.

  2. Cost-Cutting Measures: Title companies and brokers may be trying to reduce their operational costs to stay competitive.

  3. Negotiation Power: Notaries often accept lower fees due to a lack of negotiation skills or knowledge of market rates.

  4. Economic Factors: Brokers and title companies might be facing economic pressures that lead them to cut costs wherever possible, including notary fees.

  5. Regulatory Constraints: Federal law prohibits notaries and their associations from engaging in price-fixing or setting standard fees, which can limit their ability to collectively negotiate higher rates.

  6. Notaries Accepting Lowball Offers: Some notaries are allowing hiring parties to set their fees instead of setting them themselves. This often backfires when a second, experienced notary must be hired to correct errors.

    With that said, I stand firm in my belief: honest work deserves honest pay. Together we
    stand, divided we get stiffed.

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I would add 6. Notaries Accepting Lowball Offers: Some notaries are allowing hiring parties to set their fees instead of setting them themselves. This often backfires when a second, experienced notary must be hired to correct errors.

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Thank you for the contribution


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I got a notice today that read that due to an increase in their operational costs that they were reducing their fees to notaries and hoped to make it up with increased volume.

I had taken the job because it was a decent fee for a single document AND it was very close to somewhere I needed to go anyway.

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@vanessa.jackson007 This is called: “eating your own.” Or vendor cannibalism.

In a word: Shameful!

Certainly, it’s not a sustainable business model.

Hopefully, you’ll be able to locate other business entities that have more appropriate business models.

:swan:

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@vanessa.jackson007

FYI: The ONLY business entity that will benefit from the “increased volume” gambit is the Signing Service [SS]

===>>> not the professional signing agent [PSA], because your overhead/out-of-pocket expenses are determined per Signing Order [SO], not volume . . .

:swan:

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I agree.

I will probably not take future jobs with the company if they don’t re-examine their business practice. I only took this one because it seemed to work give the ‘single document’ and the fact that it was near I needed to be anyway.

I think it’s important to note that this is going on.

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@vanessa.jackson007 Absolutely correct! I concur :100: percent.

Thank You. The information you’ve shared is definitively beneficial to all Notary Cafe members. :heartpulse::tada:

:swan:

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What they are saying in layman’s terms is that they want us to do more work for less money. It does not add up. That is insane and will not stand.

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Notary expenses have increased as well. Gas, Notary supplies. slower market due to Covid19, all have impacted the Notary profession!