Why are signing companies invoicing, for example, $200 and paying notaries only $80?

I’ve noticed that some signing companies are invoicing the title companies, for instance, $300 and paying the notary (who’s doing the printing and actual work) $100 or less. I get it that these companies are putting notaries to work but it’s NOT fair that they’re paying us less than half of the revenue when we’re doing all of the work!!

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Because it seems too many notaries don’t know when to say no.

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You can look this up. Read LindaFL. She explains that other TC’s expenses are added in to that charge.
many of us have complained about this because RESPA dictates that certain expenses be shown so the client can SHOP for the best price.

Lets give it 6 months for the bulk of the Notes find that they don’t have enough to stay in this business.

I am NOT a “Note”. Gee whiz. I’m a notary. What, are you trying to save one letter?

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Because we need a little levity in this business. Things are about to get REALLY bad.

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Levity, John?? Nobody’s chuckling, I can assure you. Write something informative or useful and quit calling us “Notes”. OK, Reals?

it’s very funny… SAD

Yeah, it’s me, huh? Have a nice day.

Incidentally, I really don’t see the “humor” in “notes”. It’s neither fun nor funny.

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No John. He’s not being rude, he’s just telling you he doesn’t like it. I don’t care for it either. For what that matters

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I respectfully disagree, Linda. As there are many ways someone can express their displeasure at something written. Bobby took umbrage with my nickname for us, but could have expressed himself in a more cordial manner.

Bobby, you will see that yourself and I have contributed to this forum. I try not to take myself too seriously and I would advise you to do the same.

I’m sure you have read the headlines for real estate. it’s tanking. In 6 months 50% of this forum members will not be here.

There’s a time to laugh and a time to cry.
We can laugh now, but crying is coming. Yep

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This topic was automatically opened after 5 days.

Don’t worry John I get the joke. You are very nice. Have a fantastic day :wink:

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A joke is usually told in the form of a story, not a nickname you ascribe to someone, even if you include yourself. Once you have someone who takes umbrage at your use of a term, it should not be used as a form of levity in open dialogue, as you never know who it might offend. I don’t necessarily take offense, but I do find it a bit juvenile. Like using the word “sammy” instead of sandwich (thank you for adding that to the lexicon Rachel Ray!) Just a thought.

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Yeah, I’ll take note of it.

Signing services are the “middle man” between title companies and the notary. I can tell you that we also have overhead. In our case, aside from the hours we spend sourcing a quality notary, there are other expenses that are incurred. Although we do not use SnapDocs, any service that does use snap docs pays up to $15 to post the order. Rather than pay SnapDocs per order, we invested in a portal which we pay an annual fee to enable us to safely and securely transfer documents. We also invest in advertising to bring jobs in for the notaries. Did you know that a company who uses Thumbtack has to pay for each lead. The client could go with another vendor or change their mind and not do the job at all and we have already been charged up to $30 just to get a name of someone who MIGHT want a notary to do general notary work. We pay for websites and google and yelp advertising and someone to create SEO’s. Our company also takes the hit for all the slow pays that everyone complains about. We pay our notaries every two weeks no matter if we have been paid for the job or not. We source different opportunities for notaries. We create training and tools to ensure the notaries success. We have someone who will answer the phone at night and on weekends. In many closings, there are documents that the notary needs, but the borrowers do not… so we streamline the docs for the notary. We coach notaries to be efficient. We also source low cost alternatives for paper and toner. We provide feedback… positive too! In Texas, we also have to pay for a room to complete Cash Outs and Helocs that can cost upwards of $150. There are many times when we have accepted a job for $200, paid the notary $80 and still lost money. As a notary, the biggest investment is time. Everyone complains about the gas prices, but it’s really your time that needs to be calculated. We have a spreadsheet that calculates your average hourly wage for an order. In most cases, our paper and toner cost is .0146/page (for letter). printing 300 pages equates to under $5.00 in printing costs. If the closing is 30 miles away and your car gets 20 mpg and gas costs $5/gallon… your fuel consumption is $15 for the round trip. The irs pays you over .60/mile, which equates to over $36. So right now, you have made an additional $16 on the original $80 order taking you up to $96. If it takes you an hour to close, you just made $96/hour (consider the last minute docs you received and had no time to prep… just print and run). Where the signing service may end up with 10-12% of the total fee as profit. It’s no different than a repairman from Home Depot who comes to your house to fix an appliance. He is doing the labor, but he doesn’t make what was invoiced to the customer. This is where you have to find ways to cut your costs without compromising the service you offer.

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Thanks for not capitalizing it like everyone else does. It drives me crazy.

Us notaries are pretty serious about what we do. The “notes” out there probably less so, I would think! Just an opinion.

Topic is closed after multiple instances of inappropriate posts.