Since 2015 I have been a signing agent and I have seen our market swing radically in every direction. The greatest threat to our way of life has been the signing services. What value do they bring to a signing agent regardless of seniority or experience? Working directly with title companies is productive and profitable. Someone, please explain to me why you would take a job that offers you $50 in payment and demands scanbacks, call confirmation, and a list of items that if you fail just one of them they will cut your pay. Oh, and by the way they are making up to $500 on that same job. Please, explain this to me.
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Great question. I think most people utilize signing services to gain experience as notary signing agents. Establishing a direct relationship with title and escrow companies takes time. Outside of signing services or getting direct work from title companies, what other options do notary signing agents have to get steady work?
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Personally, I use them to gain experience. I have spoken to several local Title Companies and they’ve all said the same thing, minimum of 1 year experience before they will use you. So until that point, what do you suggest? I am going to use the signing services. With there a heavily saturated market with Notaries, we do what we must.
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This is a very good question! I have been utilizing the services because I just relocated to a new state and I have no connections here. However, I do set my prices and I stand firm. As a mobile signing agent, I receive calls to perform all types of services. I don’t get out of my seat for under $125 (unless it’s literally in my area & less than 20 pages). When an agent finishes reviewing an order, print 2-3 copies (that close to a ream of paper), drive out to some remote, rural area, with no FedEx/UPS hub, scan & upload in your car, and then some companies even request callbacks. No thanks. I get paid for the work I do. Don’t underrate yourself. Negotiate. You’ll be better for it.
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In my region Title companies are using signing services to hire NSAs. One in every 60 adults in Texas is a notary. Florida has it worse at 30:1. Many builders in Texas are now their own Title Company and in some cases lender. Signing Services makes it easy for TCs and Builders have throat to choke if something goes wrong.
Signing services bring absolutely no value at all to the notary. However, they do make hiring a notary easy for TCs…who have forgotten how to look at the few good Directories (Notary Cafe is one) and do it themselves. Perhaps it would serve notaries well to remind TC that they can DIY and suggest the Directories to use. If ever a time exists to get rid of SS & Platforms, it is NOW as they are no longer making money by filling numerous orders for a small fee, but are forced by the ‘economics of scale’ to grab as much of the fee on the few orders available these days to stay afloat.
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Because they are inexperienced notaries?
Maybe the question should be how are they still in business? Years back I would get contacted by title companies directly. Then the signing companies started calling because title companies didn’t want to look for notaries. Made it easier for them to use a signing service. Then our fees dropped due to the competitive situation. Too many notaries. Since last year my business has shrunk to a small fraction of what it use to be due to the rise in interested rates. No more refis. So here we are.
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