Same here in Wisconsin. Local title companies close all of their deals in house and don’t offer mobile signings.
1 Like
It is so different in California compared to every other state.
I can’t speak on that. But I can say that EOs are also notaries here and they close the signings themselves in their offices. I don’t think they’re certified signing agents, but I’m not sure.
Under normal circumstances you are correct. When COVID came on board, different situation. Many people who were involved were offered a mobile notary to come to their home rather then the title company! Many clients ordered that rather then leaving their house. Several of these clients had children at home also due too schools and child care being closed. Our local title companies absorbed the notary fee.! I was very busy October they January notarizeing many sets if docs for the title companies!
I’m in Clarksville and you can reach out to me anytime. I totally feel your frustration with the close to the chest way some notaries in our area act. I know I’m 45 minutes away but I don’t mind sharing.
2 Likes
Companies are always going to work with experienced notaries. It’s less risk and hassle. If you believe that you’ll make 11K a month, I have a bridge to sell you. This business is based on experience. The companies that hire new notaries for $50.00 end up spending more to fix mistakes. If you’ve ever worked in a law office, especially for real estate, you’ll have a much better understanding of the demands a closing puts on a person preparing the documents.
1 Like
So quick update. I’ve stopped going to title companies in person. I’ve switched over to email and phone marketing instead. It’s a better use of my time, resources, and energy. I think I’m getting closer to a breakthrough… but it looks like the industry just works differently in TN. I’m having to convince EOs that it’s in their benefit to use me versus doing the signings themselves. I know they save time by using me and they have a farther reach, but what else do EOs care about?
Can anyone list their “pain points”? My mentor keeps telling me to find the “pain point” but I have no insight into the actual job of an EO.
4 Likes
You are spot on regarding the disconnect. In Texas Cash Out refis have to be closed in the lender’s. TC’s, or law office. I just received a request to close a Cash Out Refi for $50 flat fee. I informed the SS that there’s a $50 non-refundable office fee. They claimed to have found a different notary. Either the notary lost money in this engagement or didn’t close following State Law.
Hi Linda, I read your comment. I’m in WA. I’d love some tips as well. I’m new but I did GNW many years. The difficulty that I’m having is that the notaries are so tight lipped. I’m thinking of joining the Chamber of Commerce to find out where I can network with these companies. What would you recommend?
2 Likes
Send me a text with your phone number. My # 541 280-2994
Hi Noblenotary615,
In my experience, EOs (AKA everything from settlement agents to title processors to closing specialists, etc.) care about closing files. What that means is they need to manage the closing process (weather for refinance, purchase, seller’s package, etc.) with the end borrower (s), or buyer(s) and/or seller(s), including coordination with the lender, scheduling, managing the closing / settlement, coordinating the post closing process, funding/disbursement, etc., up to and including recording the required documents with the county (either directly or via a service).
As signing agents we can be a very critical piece of making their often stressful job a bit less stressful, by doing every aspect of our job well.
That basically means being professional and available through the entire process from accepting the assignment, to managing documents, to conducting an efficient and correct signing, to returning the documents in a timely manner, and helping to resolve any errors quickly and correctly.
I’ve actually had a couple of fairly significant errors with title companies that ended up not being a big deal and not negatively impacting my business with them because I was very quick and professional in getting the errors fixed. In both cases they were actually very understanding ("I’ve done it!” “We’re all human!”, etc.)
The reason for that is that if you fix an error quickly, it doesn’t negatively impact their time stress related to that file.
I also had done at least a few signings for the companies in question, so I had some basic credibility with them that I generally do good work.
So, that’s the name of the game in my experience: make sure that any assignment you take for a title company is as smooth as you can make it, and if anything is un-smooth (often not due to the title company or the notary - issues often arise from the end borrower or buyer or seller, or due to the lender), manage it as well and professionally and flexibly as you can.
From an EO’s perspective, if you are easy and professional to work with, and they can count on you to produce error free files almost all the time, you will fairly quickly rise in their ranks of their go-to notaries because you are specifically alleviating what could otherwise be major pain points for them, by simply doing your job.
All the best!
EOs pain points related to notaries and closings can range from lack of communication, lack of punctuality, lack of professionalism, too many errors, delay in returning files, etc.
If you generally don’t do those things they will be very happy with you, because you keep a critical piece of their job that’s temporarily outside of their control as smooth as possible.
Noble,
Im curious as to why your mentor doesnt tell you what their pain points are, if they are encouraging you to approach local title companies directly. How did they obtain their Local Title Company Clients and what were the pain points that got them in?
The pain points are: The offices that are closed due to the pandemic and do not see people in person t will be using outside notaries. Also, if they are too busy to sign clients themselves because of historicaly low interest rates, they will use outside notaries. Or if they have clients that do not want to come in or are far from their offices they will use outside notaries.
Once you have pre-qualified which offices have these pain points, all you have to do is convince them of is why they should use you instead of a signing service that can always fill the order with a panel of notaries instead of one notary that may or may not be available.
Believe me, I have known Title Offices that have fired their Signing Service and had started to call Notaries directly only to turn and hire another signing agency (I made the recomendation) after they were pulling their hair out trying to call out, schedule and keep track of a bunch of Notaries and the files and errors that needed to be corrected as well. They couldnt wait to get back in business with a Signing Agency.
The less that offices that are closed to the public because of easing of the pandemic and the higher interest rates go, local offices will have even less need to use outside notaries. Local offices are built to sign their clients, it is how I signed my first mortgage 7 years ago and my refinance 2 years after that.
National Title companies are a different story, they always need Field Signing Agents as they do not have local offices staffed with qualified EO’s and their Assistants to sign their clients.
I know of very few notaries if any that receive enough work to make a living working directly with Local Title Companies. There may be some that have long standing relationships but this is not the business model that exists today.
I personally think you and others are pushing a boulder up hill in trying to get Local Title Companies to work with NSA’s directly. At the risk of sounding negative (realistic) the business is done a certain way for a reason and instead of fighting it one should learn how to excel and thrive in the model that exists. That also includes exercising patience. There are no overnight successes.
Side note: There is no conflict of interest in Title Companies completing the signing with the Consumer. The Conflict of interest exists if the Loan Companies would be executing the closings with the Consumer.
3 Likes
Thanks for your input. Do you know of any lists for National Title Co’s?
John,
Email me at:steinbergnsa@gmail.com
I will send you my phone number and we can discuss complies to each out to.
pain point
notaries that don’t communicate with them if there is a problem
notaries that don’t get along well with clients
All I can say is a great big huge I TOLD YOU SO.
I already posted about this BUT I’m going to do y’all a favor and save you a ton of money, time, and headache.
DO I HAVE EVERYONE’S ATTENTION???!!!
OK then. Sooooooo NO. You will not get direct work from title, except for extenuating circumstances-for example, to accommodate the borrower’s schedule/location.
Escrow officers GET PAID TO DO SIGNINGS. I don’t think people realize this, but they do-and they are opening their offices again so you can kiss regular direct work goodbye. I used to collect over $2000/month in addition to my $11,000 salary, plus I usually put a few hours of overtime in on my desk (for which I was also paid) because I was pulled away from it to do signings. Do the math. EO’S took a huge pay cut during COVID. And I mean HUGE!!!
THEY WANT TO DO THEIR OWN SIGNINGS. Not only do they get paid, BUT they are (usually) sure to get the dang thing right AND they save the most valuable commodity they have: TIME. They sign these folks then drop the package on their assistant’s desk for the funding package and to return them to the lender immediately-no need to wait on another notary and lose a day. And EO’S aren’t the only ones who sign clients…so do their assistants and in many cases, even the receptionists. They are ALL NOTARY PUBLICS, everyone who works there, guys!!! And they want the income.
ALSO, refi’s are GONE and resale is hot, but manageable. But it won’t be for long, the feds want to slow down the economy, which means real estate. AND Realtors WANT THE SIGNINGS HANDLED BY THE EO. They work with the EO’S on a regular basis-it’s not a random choice, the title company is selected by either the listing or selling agent at the time the contract is signed and that agent wants the EO to handle every. Single. Aspect. Of. The. Transaction. Trust me! I think people think of EO’s as administrative assistants or secretarial but that is incorrect. They are closer to a lawyer and they are MASTERS OF MULTI TASKING. They are super sharp ladies (and more and more, men!) and can get through a signing in 30 minutes - in CA, for a single loan purchase with 2 borrowers they get paid $80, add a HELOC and it’s $120. All from the comfort of their office. Heck yeah, they’re doing their own signings!!! And NO. You will not get one to talk to you-unless you are a listing/selling agent, a buyer, a seller, the mortgage broker or the lender on a transaction they are working on.
If you are new to the industry and think this is just a lull, you are terribly mistaken and you need to get a job. Seriously. Preferably OUT OF THE REAL ESTATE INDUSTRY because…
WE ARE GOING TO CRASH. It’s coming. (I’m going to remember to post an “I told you so” when it does because I’m rarely sooooooo right, LOLOLOL!!!)
I know this message is very blunt, but I am being 100% sincere when I say I just hope I help even 1 person avoid financial devastation because they really think business will pick up again…BECAUSE IT IS NOT GOING TO.
PEOPLE. IT’S TIME TO GET A JOB ID YOU DEPEND ON THIS I COME SOLELY. I did-and not in the industry, either!!! Wahoo for that. I’m just DONE with the pendulum that is real estate. And another thing: when the market crashes, the EOs will also be laid off and finding work will be absolutely impossible. Soooo they’ll be doing signings to supplement unemployment.
2 Likes
Brilliantly put!!! And perfectly said.
I get what your saying, but you need to understand that your audience are people willing to do signings less then $100 and operate at a loss so you might have a hard time getting your message across to people. The only thing left to do now is to ask if you have any more cute dog pics?
1 Like
I just posted a big long reply to you but accidentally replied to the whole thread. Hopefully you’ll see it…
Wait, your trying to get away from the real estate industry all together? I thought your heart was in real estate and the functionality of all of it. I just want to ask, how sure are you that we are heading for a crash?