Posted by John_NorCal on 8/2/07 8:30am
Msg #203374

Do people really care how much they are paid?

Or are people just happy to be paid on a timely basis? Looking over comments in signing central I find glowing comments about companies paying quickly. This in spite of the fact that the very same company has unilaterally cut fees or are just plain low ball payers. Companies like Express Notary Service, Lenders First Choice and others are given high ratings and glowing comments despite being the lowest paying companies. What gives?

Reply by Jersey_Boy on 8/2/07 8:33am
Msg #203376

If working for tiddly-winks makes them happy, let them be happy.

I'm glad they take them, they're too busy running around like crazy people for peanuts.
I don't work for peanuts. I have much more expensive taste. Mmmm Honey Roasted Cashews...

Reply by MistarellaFL on 8/2/07 8:34am
Msg #203377

I find both are important to me. I will decline appts from both companies who do not pay a fair fee but pay timely, and from higher paying companies who have a bad track record for payment. This said, I do work for a couple of companies who pay a higher fee, but payments are net 60.

Reply by ck_KY on 8/2/07 8:40am
Msg #203378

I think it really depends on where you are located. There are 3, yes count them, 3 notaries within a 50 mile radius of me that perform loan closings. So when a company that many of you call low ballers call me, they see that there are slim pickins' when it comes to finding a qualified notary to handle their closing. They are willing to meet my fees (most of the time) and that is not $45-$50. JMHO.

Reply by sue_pa on 8/2/07 8:48am
Msg #203383

It's new people (and by that I mean anyone who hasn't been around since the early 2000s) who have no idea how much these companies were willing to pay. Service Link, LandAmerica/NASCO, ATM, LFC, NREIS, TCT, GAC, Atlantic Assurance (absorbed into TU), etc., all paid $100 or more for overnight docs. ServiceLink used to pay additional for anything closing after 5:00 or on weekends !!!! I believe ServiceLink now pays $65, ATM is $45, etc. Of course they pay timely - they're not signing services (as I see them referred to so often by people who haev no idea of the role of the players in this business). Supply and demand - and because of a handful of no good signing services, people think being paid every 2 weeks makes a company wonderful. Net 30 or 60 is standard in most businesses but people in this business don't know how to run a business - on a rant here - the one yesterday who thought it wasn't his/her job to let the title company know a buyer didn't have id for a purchase - amazing.

Reply by Dennis D Broadbooks on 8/2/07 11:40am
Msg #203423

Are You Sure You Didn't Mean...

...the early 1900's, Sue? It sure seems that long ago to me!

Reply by John_NorCal on 8/2/07 8:42am
Msg #203380

All that being said, this board constantly castigates companies that pay $50.00, yet looking at comments some of those very same companies are the ones earning high praise because they pay quickly.

Jersey Boy, I love honey roasted cashews too!

Reply by SueW/Tn on 8/2/07 9:20am
Msg #203387

What Crystal said is an absolute fact

Those of us that live in rural communities don't have the competition that those of you in "big cities" have. 99% of the time my fees are met by some of the companies that are looked on as "lowballers" by my peers. If my fee is met and the company has a good rep for paying I'm going to work for them regardless of the popular opinion of any forum. It's all about location, location, LOCATION. To be perfectly honest as much as I love what I'm doing I wouldn't even consider it in the highly competitive areas, living in the woods does have it's advantages.

Reply by BrendaTx on 8/2/07 9:29am
Msg #203390

Re: What Crystal said is an absolute fact

Correct. For instance, Lenders First Choice has always paid me a good chunk and timely.

Reply by John_NorCal on 8/2/07 10:05am
Msg #203397

Re: What Crystal said is an absolute fact

And now LFC has cut their fee by $45.00 over last year. Why is that? I believe our gas prices are the highest in the country, milk is now $4.69 a gallon, etc. I can't take these low ball companies and their attitudes. Then I see posts by some people in the "sticks" who appear to be willing to take a $50-$60 signing and have to drive 30-40 miles one way. Don't these people value themselves and believe in themselves (see my post above) enough to command a respectable fee and stick to it?

As Michigan Al says below, "I would rather wait 60 days and be paid fairly, than be paid quickly with peanuts."

Reply by SueW/Tn on 8/2/07 10:32am
Msg #203402

People in the "sticks"?

Hmmmm...nice comment. John I am a transplanted Native Californian that CHOOSES to live in the "sticks" where cost of living is actually pleasant. I paid for my home here in 11 years and my taxes are $156/year. Do I value myself? You bet your butt I do! I don't really see where anyone is stating the $50-60 signings, if that's what these companies are offering you then it's certainly your choice to take them or not. They don't offer that to me, my average mileage is 20 miles and here I can do that in less that 30 minutes. I don't think it's about what I think I'm worth, I think it's about what MY bottom line is. Face it, if we were paid what we think we're worth we'd all be millionaires and Harry wouldn't have a forum.

I don't understand where you get off in your perception that I don't value myself? I elected to live in an area that isn't dog eat dog, gang infested, traffic infested, tax upon tax, stressed out and road rage ready. I live in a small town where people say hello at the grocery store (where we pay $3.00/gal for milk), where we don't have to lock our doors and hide our children. Out here in the sticks we may be light years behind the major cities BUT we don't have to watch our backs because someone is trying to steal our business. It's a trade off, peace of mind and contentment vs. high cost of living and fighting for every inch of space. You paint your canvas with a very broad brush but because I come from your same area and now live in the "sticks" I think I can comment with a solid degree of experience.

Reply by TRG_wy on 8/2/07 10:46am
Msg #203403

Re: People in the "sticks"?

I'm with Sue 100% here. I am a transplant from San Diego to Wyoming. Everything she said I could repeat. No one up here takes those $40-$50 closings. There are only three of us to cover nearly 200 miles.

Life in the big city is what you made it. I like to say there is ZERO stress factor here. I retired in 1999 and the only time I lock my doors or take the keys out of my vehicle is when I take a few weeks off to go back to San Diego to visit my grandchildren and family - oh yeah, and get a blunt reminder of exactly why I left there.

Living in the "sticks" is something I really should have done a long time ago. You'll never meet finer folks than you will in rural America.

Reply by SueW/Tn on 8/2/07 11:18am
Msg #203414

Thanks Tim and to John

I apologize if it sounded like I was taking you to task. I jumped the gun as I've always enjoyed your posts and have a huge amount of respect for you. Forgiven?

Reply by John_NorCal on 8/2/07 11:46am
Msg #203427

Re: Thanks Tim and to John

**Forgiven?**
Why sointenally! No offense taken.

Reply by ReneeK_MI on 8/2/07 4:42pm
Msg #203547

I'm sold - I wanna be from the sticks ...

I sure hope you have a spare room! =)

Reply by SueW/Tn on 8/2/07 6:34pm
Msg #203581

Re: I'm sold - I wanna be from the sticks ...

What's mine is yours and I would love a few days to just sit back and chat....

Reply by ck_KY on 8/2/07 1:40pm
Msg #203472

Re: John, I'm from the sticks..

and I certainly don't accept those fees. The point I was trying to make is that because of the lack of competition and miles traveled to appointments, we are offered good fees on closings. Very rarely do I have a signing service call me and offer $50 for a 30 mile trip one way. Most of my business comes from title companies, as they know of the lack of notaries in my part of Kentucky and call me directly. I feel for some of you who are in more saturated areas and have to put up with 10 calls a day for $50 closings. It would be very discouraging. Hope things look up for ya'll!!

Reply by JanetK_CA on 8/3/07 1:07am
Msg #203702

Supply and demand

I think your experience and that of others in those lovely less populated areas (where it's not cost effective to advertise classes to the masses to "become an NSA and make a six-figure income..." just reinforces the idea that it's all about supply (or over-supply in many areas) and demand. The ongoing mass influx of NSAs has to have been a major factor in the reduction of fees. Again, thank you XYZ!!! NOT!!!

Reply by jba/fl on 8/2/07 9:42am
Msg #203393

yes, they do. Singing Central is a bit off. In order for it to be in it's true, up to date form, all old data collected would have to be discarded, and begin again mid-2007. Starting last year everyone started lowering their prices, so we have data mixed from 2003 w/today's, skewing averages. Even those w/good ratings in 2006 may have fallen flat, but their average remains high because of old "great, wonderful, on time payers, pays well, etc." comments.
Again, those that say "I won't walk to my car for less than$xxx" are either in rural areas, unsaturated w/notarys areas, and/or sometimes saving face or bragging. Some are in areas that are so overly saturated and I think that these TC's and SS's know their areas as well and capitalize on those facts.

(Many of these comments are generalizations - please don't flame me for looking at my opinion. I offer no advice, nor will I advise you to do anything against your will.)

Reply by MelissaCT on 8/2/07 9:52am
Msg #203394

A company that pays a little less, but pays quickly gets more credibility in my business than one who pays top dollar, but constantly has to be hounded to come off of it. Not to say that I'll accept a $40 signing which pays the next day...I have my minimum and don't go below it, however, sometimes a $50 signing is only worth $50.

For instance, in CT vehicle inspections used to be required for any vehicle over a certain age. CT has since gotten rid of that requirement (for teh most part, although there are exceptions such as out-of-state vehicles, salvage-stamped titles, etc.). So now, we're seeing $100 cars that sellers are asking $200 for due to no inspection. Folks, it's still a $100 bucket!!

Since everyone values their time differently, there are variances in what business owners are willing to accept for fees. Not to mention cost of doing business, such as: supplies (consumables), equipment type/age/life, depreciation, replacement program, licensing, insurance, advertising, etc.

Reply by SharonMN on 8/2/07 12:09pm
Msg #203439

I think of the ratings more as about a company's business practices than about fees. I figure it is my responsibility to negotiate fees, so I would look to a rating to help me decide if the company was going to live up to what we agreed on. Do they pay as promised, are they available for troubleshooting, do they get docs to you on time, do they back you up if lender requests something illegal ? I don't think it's inconsistent for a company to have a good rating even if they offer low fees and a 60 day payment policy. At least you know what you're getting into, as opposed to a company that might offer you $300, turn what sounded like a simple signing into a difficult one, and then find an excuse not to pay you in the end.

Reply by MichiganAl on 8/2/07 9:56am
Msg #203395

I'd rather wait 60 days to get paid fairly

then get paid poorly but quickly. I really don't care how quickly a company pays me as long as I know when it's supposed to be coming. It is ridiculous that a company that pays peanuts gets a good rating because they send you your peanuts quickly.

Reply by bigdog on 8/2/07 11:04am
Msg #203411

Because of the competition in certain areas compared to ....

others, it's hard to get the big dollar clients to call on a regular basis. As a result, some are relegated to accept lower fees than would accept. I have my fees that I will accept and 50.00 ain't it. I've turned down many of those calls. But, my fees aren't as high as I would like them to be. Everytime I try to raise my fees, my normal companies will balk and go find another Notary. In order to stay in business, some of us have to accept lower fees than we would like. I'm hoping that the lack of business right now will get some of those that do this as a 2nd job, will opt out of it, making it easier for those of us that do this full time can dictate our fees instead of those dictated by the SS.

Reply by BetsyMI on 8/2/07 11:59am
Msg #203434

Re: Because of the competition in certain areas compared to ....

I agree with bigdog. I work for many good paying title companies but they may call 2-3 times a year for a closing here in Michigan, and that's it.

Others won't budge on their fee, or they'll up it only a bit from what I ask for. I always try to negotiate due to distance, last minute, faxbacks, etc. I don't take $50-60-70 orders either. But a girls' gotta eat so my fees aren't as high as I would like them to be either, but they're better than last year.

I dumped a few lower paying companies, and am working less, but getting more per closing. So I guess that's heading in the right direction!

Reply by jba/fl on 8/2/07 2:42pm
Msg #203513

Re: Because of the competition in certain areas compared to ....

Right there w/you Betsy_Mi. Dumped some, gained some and dealing with the spare time. I have the proverbial whole nut to crack, and I'm too old to work for someone else, plus I don't want to leave my home. Thru this forum I've learned $$ saving ideas to make my money go where I need it to go. No regrets other than I wish everyone would meet my higher fees.