Posted by Derrick Judkins on 10/30/07 2:58pm
Msg #218914

IREP FEES!

I just received a call from Intergrated Real Estate Processing (IREP) that said they were cutting back their pay for all agents by 10 bucks! When they call, I was on the phone with my mom who is a notary in AL and she had just received the same call. Are any other Notaries receiving calls from them. I have been accepting 70 dollars (which I think has been fair). They also informed me that other notaries in the area are accepting much less. My question is how much are you guys accepting? 2. Are you willing to accept a reduction? 3. PLEASE STICK TOGETHER AND DO NOT ACCEPT ANYTHING LESS THAN WHAT YOUR WORTH! I hope Im not out of line!

Reply by Phillip/TX on 10/30/07 3:07pm
Msg #218919

I have to agree Derrick, I would not do a closing/signing for $70.00, even if the docs are overnighted and they come to my office to do it. And most of the companies that know or use me, know not to even insult me that way.

Reply by CopperheadVA on 10/30/07 3:10pm
Msg #218920

Derek, most people do not want to post their fees, but I will tell you that I never work for $70, unless it is a single document needing signing, such as a DOT re-sign or something of that nature, or if title forgot to send a few docs with the original package and I have to go back out. My regular fee is $150 for a single loan with e-docs, $125 for o/n docs.

Reply by Derrick Judkins on 10/30/07 5:29pm
Msg #218934

I understand that most probably do not want to post their fees but why not?!?! I think notaries (especially in the same area) should get together and network so the S/S get the same bottom line from anyone they call. I only accepted 70 with IREP because I was just getting in the door with them. The understanding was that after I did a few with them I could increase my fee. Going into the branch to do the closing and not having to print edocs or fax backs are nice but come on, accepting less than 70 is just stupid! IMHO. Her reasoning for decreasing our fees was because the company is cutting back but my gas, time and effort are still the same, if not more! Bottom line is this, NETWORK WITH OTHER NOTARIES WITHIN YOUR AREA! I think we can still be competitive but lets not accept table scraps for our time and effort!

Reply by Loretta Reed on 10/30/07 7:40pm
Msg #218946

I will tell you that once you contract a fee with them, you cannot increase it and if you ever do, let me know, because I will increase my fee. My brother worked for Beneficial for 8 years and was in charge of most of New Jersey. He told me that if I ever lower my fee, they will never increase it. They will take me out of their system.

Reply by CaliNotary on 10/30/07 8:13pm
Msg #218955

"I only accepted 70 with IREP because I was just getting in the door with them. The understanding was that after I did a few with them I could increase my fee."

And you see how well that logic worked out, now they want to pay you $60.

"I think notaries (especially in the same area) should get together and network so the S/S get the same bottom line from anyone they call."

Completely unrealistic to think that this will ever happen. As you've seen from this thread, your fees are way lower than a lot of people's already, some people probably consider you one of the undercutters who are lowering fees across the board.

Reply by FeliseSoCal on 10/31/07 12:15pm
Msg #219019

I agree that they will never increase your fee. That's what they told me. I started out when I was new at $75 and when I was getting $150 from my other clients they would not increase it even though the branches requested me. Sometimes they wanted me to pick up the docs, go out to the borrower in the evening and deliver the docs the next day. They wouldn't pay more than $75! I said "no thanks". It's unreasonable to expect someone to do all of that driving around for $75. They have to know that they will only get inexperienced notaries if they pay that low.

Reply by Happy_in_Fl on 10/30/07 3:25pm
Msg #218921

Question here is really, what "You, the Notary" is willing to work for, and make a buck.

What ever company it might be that calls.

When a S/S tells me they are cutting fees to agents, they can do so, but my fee is my fee, and it is my choice to say "Yes or No." Have to admit, when I tell them my fee, they simply say something like, "Well, let me check with my supervisor, and if it is approved I'll call you back.
99% of the time they don't call back, but that's okay.

Majority of the time, they just keep going down the list of Notaries until some one says "yes."

My fee is what I feel I am worth, and what is needed to stay afloat.

And honestly, I have established quite a few great clients, mostly T/C and Attorneys, but it has been a long time building that relationship of confidence and trust. It sure does not happen over night.

JMHO

Reply by Loretta Reed on 10/30/07 3:48pm
Msg #218924

Re: IREP FEES! I got the call....

and I do not and will not accept $70 for a closing for them. I am $100 or more, depending on the location of the branch. I learned from one of the schedulers that if the branch requests you to do the closing AND you have not decreased your fee, IREP will pay the fee you charge them.

Reply by CF on 10/30/07 4:05pm
Msg #218928

Re: IREP FEES! I got the call....

I work for them and the branch requests me- I always get my fee and if I have to go to a borrowers home- I charge them more $$ and they pay me too. I have not gotten a call from them today...that is wierd- thanks for the heads up!!!!! I did about 8 total this month for them.

Reply by Derrick Judkins on 10/30/07 5:32pm
Msg #218936

Re: IREP FEES! I got the call....

Thanks Loretta,
I get personally requested by the branch so hopefully I still get calls. I've done 16 over the last month and a half and enjoy the business. A ten dollar drop will not kill me but it becomes a matter of principle. You dont stand for something, you will fall for anything!

Reply by CaliNotary on 10/30/07 8:17pm
Msg #218956

Re: IREP FEES! I got the call....

"A ten dollar drop will not kill me but it becomes a matter of principle."

So that means you're no longer going to accept signings from them?

Reply by BP/WV on 10/31/07 1:42pm
Msg #219039

Re: IREP FEES! I got the call....

We were told that no matter if the branch requests you, IREP will call the lowest fee first and go up the list. They no longer will take preference first--but now the lowest fee first.

Reply by ME/NJ on 10/30/07 4:04pm
Msg #218927

Always know your bottom line # and never go below it n/m

Reply by FeliseSoCal on 10/30/07 4:59pm
Msg #218932

Re: Always know your bottom line # and never go below it

I used to get a lot of business from them but have not been called in a while. I was getting only $75 and they said they could not pay more. Is anyone in CA getting more than $75? Normally, my fee is $150 to do a travel notary, but it's been very hard to get that in CA. Is anyone getting that? I agree, we really should not lower our fees. Let them find someone cheap and pay for a re-draw.

Reply by Mamie on 10/30/07 7:35pm
Msg #218945

Re: Always know your bottom line # and never go below it

I agree, that all should stick together on fees. I am fairly new and will not go out the door for less than $100. I have been offered $70, but refused. I feel if I agree to less than that is what I will be getting and it is a lot harder to ask for more after you accepted less.