Posted by Isabel Stevens on 6/13/08 7:53pm
Msg #251238

Am I the only one who has raised my fees?

I HATE turning down work, but I just can NO longer justify doing an E-doc job for under $125. It just seems like it is not worth it anymore. With the cost of gas sky high and these jobs typically being at the last minute, I think they are getting off CHEAP!

Am I the only one here?

Reply by Sylvia_FL on 6/13/08 7:56pm
Msg #251239

No-one should be doing edocs for under $125.

Minimum - $100 for signing plus $35 for edocs

And within a reasonable distance of your home.

Reply by aatatusko on 6/13/08 7:57pm
Msg #251240

No, you are not. I had a call for $90, no thanks.

Reply by utahnotary on 6/13/08 9:58pm
Msg #251252

I wish somebody would let Utah notaries know what the deal is. Most of my area take $50 /$60 closings!! PLEASE STOP!! we are worth more!

Reply by John_NorCal on 6/13/08 10:10pm
Msg #251253

**we are worth more!**

There is the key, the worth of a person is the value they place on themselves.

Reply by Isabel Stevens on 6/13/08 10:38pm
Msg #251259

I'm so glad I'm not alone. Like I said, I hate turning down a job, but this is getting ridiculous! My contact said, "Well, we haven't raised our fees to our customers so I can't pay you that." I felt kind of bad.

Thanks for letting me know I'm not alone here. WE ARE WORTH MORE is right!

Reply by Tish/CA on 6/13/08 11:46pm
Msg #251264

The only way to offset a spike in fixed costs is an increase in fees. Both SS and EO understand this is business and we cannot run our businesses affectively unless we make appropriate adjustments in our fee structure. No need to be mean, nasty or indignant, just state your bottom line. I hope we're all sticking together on this.

Reply by SheilaSJCA on 6/14/08 12:20am
Msg #251270

No, you are not the only one

That has been my minimun for e-docs for some time now. Too many variables in e-docs to warrant doing them, for much less than that. Sure I miss out on some business, but it opens the door for the $175+ closings.

Reply by Nick/MD on 6/14/08 6:03am
Msg #251279

Re: No, you are not the only one

Service Link claims they have many people in my area MD. doing closings for $45 overnight fee and $65 for email docs... come on Maryland title producers, you can barely fill your gas tank up for this let alone renew your license and bond. It really makes our industry look bad when people agree to such horrific low fees. We all know what it costs to do settlements in Maryland, it's not just a $20.00 renewal every few years for your notary.

Reply by WDMD on 6/14/08 6:35am
Msg #251281

Re: No, you are not the only one

Nick, you know daggone well that if that is true they are not using title producers.

Reply by Nomad/OR on 6/14/08 8:55am
Msg #251290

When gas hits $5.00 a gallon,

I'll be adjusting what I can afford to do by an increase of $25 to my total.

Reply by MW/VA on 6/14/08 12:34pm
Msg #251321

This is a tough one in this current market. Business is down--shift in supply/demand ratio usually drives prices down. Gas prices & supply prices are up--we have to charge more.
I've heard of a lot of notaries adding a "gasoline surcharge". So far, I'm able to absorb it because business has been relatively good for me. I'm seriously considering adding a $10
gasoline surcharge as of July 1. The consideration is always whether I will price myself out of the market (very competitive here). IMO, it's also going to create an issue for more e-closings.
Our position in the transaction pipline has been that it's cost effective to use our services.
What will happen when that no longer is the case? Ask the attorneys who got bumped out of the closing business due to cost.