Posted by Charm_AL on 2/16/05 8:17am
Msg #20751
all inclusive fee
ok, I did a 20 minute signing last night for my first title company -$125.00
It went very smoothly and the borrower was well informed, plus it was only 1.5 mls from home.
I had an e-mail when I got back from another title company. They are looking to add agents to their database, I'm guessing that they found me here. The body of the letter stated that we must have E&O or be bonded. Ok, I can do this...They said they used to have two fee schedules overnight/edocs. Now they are changing their policy to reflect an "all inclusive fee".
This means that I have to pick a number for my service no matter where the job is and whether or not it's e-mailed or overnighted. I don't want to knock myself out of the box here, there are 10 notaries within my zip and two of us are premeire members here, let alone whomever lists at other sites. Can someone please advise on a range? I know I have to make the decision, but I'm not experienced with title companies fees and don't want to get underpaid for ignorance. TIA
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Reply by Art_MD on 2/16/05 8:38am
Msg #20753
It seems that more and more docs are E-docs.
Say your normal fee for overnite is 100 and your e-doc fee is 25.
if 40% of your closings are e-docs
100 closings
40 x 125 = 5000
60 x 100 = 6000
income =11,000 average = $110
if mix sudenly changes to 60% edocs
60 x 125 = 7500
40 x 100 = 4000
income = 11,500 average $115
Put your own numbers in to find your average, this should be in the area of you "all inclusive" fee
Art
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