Posted by OCH/PA on 6/14/08 2:07am
Msg #251273

NEW & NERVOUS! LOOKING FOR MENTORS!

Hey guys, waiting for my first call for a signing. What would be a realistic fee to ask for being a new signing agent, and considering the high cost of EVERYTHING these days and me not have much experience. Also, for now I am only doing this part time, should I let my perspective clients know this or will they possibly shy away from calling me. CALLING ALL EXPERIENCED SIGNING AGENTS IN THE PHILADELPHIA AREA, who wouldn't mind having a tag-a-long on some signings, I'd like to here from you, ALL OTHER STATES, can't tag-a-long, but would love to have your advise, opinion, and know how of the business. THANKS

Reply by JanetK_CA on 6/14/08 2:28am
Msg #251277

Well, you've picked a tough time to try to break into this business. I suggest you try to find a different strategy. Business has slowed, even for old timers with lots of experience. And those in your area have very little incentive to help train more competition.

There is abundant information available on this site. I suggest you become very familiar with the orange search button available on the first page of this forum. Also, some have suggested going back to the beginning and reading everything - but skip the social stuff, the name-calling nastiness and the threads from trolls or you'll be reading into next year. Then expect to work very hard and for it to take a very long time to get established -- especially given the current business environment.

Oh, and if you DO find a mentor, expect to pay them for their time. There are a few out there willing to do this, as long as you aren't in their neighborhood, but not for free!

Reply by Vince/KS on 6/14/08 8:14am
Msg #251287

Using the search key, go to message #33325 for a start and to save you time. Good luck.

Reply by Loretta on 6/14/08 9:50am
Msg #251298

Good luck to all the newbies, the competition is fierce and you may not get a call for 6 months. I think that I have only read about one person willing to take someone with them to a closing and they charge $100. Also, most title companies, if they find out someone is sitting in on a settlement, will stop using the person that is carrying someone along.

Reply by Sharon Taylor on 6/14/08 9:55am
Msg #251300

Complete your profile on this site & link it to your posts

That will help a lot. Read some of the other good profiles to get an idea of what sounds and looks best. You want a good profile, but don't fake it, of course. Just honest and complete. As far as fees, start the way you intend to continue. It is just about impossible to get a company to raise your fee once you accept a low fee "just to get started" or "just this once". Once you take a lower fee, a company seems to think you should continue at that lowball fee forever and ever and ever. I've got one that I accepted $85 from "just this once" 5 or 6 years ago, and every single time they pay me, the check is for $85 even though I tell them every time that my fee is $125 and has been for over 4 years, so I have to go grumble at them again to get the correct fee, and they act so surprised. If they weren't such nice people and pay promptly, I'd give up on their assignments.
Personally my fee for a refinance is $100 for overnight and $25 for edocs in my area. If there are two loans (1st and 2nd) or it is a purchase/sale, it is an additional $75 ($50 for the closing and $25 for the 2nd package of edocs). Those are GENERAL guidelines, and fair fees in some areas of the country can be higher.
As some have said, one good question to ask when the scheduler asks what your fee is would be "What are you authorized to pay?" If the answer is lower than your standard fee, politely state that "I'm sorry, but my standard fee is XXX." Most of the time the scheduler will either accept it or say that he/she has to get it approved and will call back. If you stick to your guns on your standard fee, you'll generally get a callback saying your fee has been approved.
This is a very tough time to break into the market, but if you have another income to depend on, and continue to work this as much as you can, evenually you'll become known as the "go to" guy in your area, the one who is friendly, helpful, dependable, available, etc.
As far as doing it part-time, that is true for the majority of mobile notaries, especially now when the market has slowed so much. It shouldn't hurt you.

Reply by MW/VA on 6/14/08 12:06pm
Msg #251314

I sent you a p/m

Reply by Dana Velkers on 6/16/08 11:54pm
Msg #251592

All I can say is, good luck and wish you had not chosen to hit the mortgage boost (Ha Ha ) at it's decline. I would not wish this on my enemy. It takes time, experience and lots of business, and right now there is nothing and especially for newbies. This is my full time job, I have plenty of experience and am more than qualified, and am lucky to get 2 calls a day. PLz tell me you are not the primary income.