Posted by Sharon Taylor on 3/20/09 2:30pm
Msg #281496

found out who is taking Notary Direct lowball in my area

The scheduler sent the $75 assignment to me in error, and at the bottom in the Special Instructions section it says "We previously used (blank blank) to do the preliminary signing, please use him again if possible". (He's not a member of Notary Rotary, and also I don't feel comfortable putting his name on here without his permission or knowledge.)

Reply by Claudine Osborne on 3/20/09 2:42pm
Msg #281497

I know there is someone in my area doing them for $65.00!!

Reply by Marian_in_CA on 3/20/09 4:10pm
Msg #281500

I think it would be really terrible to publish names of other notaries taking lower fees than you. You may not agree with their business models, but that's no reason to chastise them for what they do....so it's good you did not mention their names.

I just shake my head at those who grumble about other notaries taking lower fees. So what?? They're allowed to do it if they want to, and we should not be bullying them for something they are legally allowed to do.

I'm not sure why a lot of people here don't understand that you cannot interfere with another person's legal business dealings with another company -- that includes forcing or intimidating them them to charge higher fees. It's a form of price fixing and it's ILLEGAL and it's a felony. Seriously, any decent business owner should be at least rudimentally familiar with the idea of the Sherman Anti-trust Act. Just as many complain about the NNA's suggested fee schedule... what many here do is exactly the same!

What one business agrees for payment between another is NONE of the business of a third-party. If Joe Notary down the street agrees to a job for $45, what do I care? Very little! If he feels taking that job will benefit his business, sobeit. His business is his, mine is mine. There are some jobs I could not do for $45... but there are others that I can, every job is different -- and I'm talking about all forms of notary work here, not just loan papers.

Sure, we know that some signing services get away with paying as little as possible, but think about it... so do we, as business owners. How many posts are here about finding the least expensive toner or paper? How many of us try to maximize our profit margins?

Can you imagine this? Staples, Office Depot and Quill all get together and say, "These notaries are really low-balling us with the legal paper... we all need to stand our ground and charge at least $60 a case, people. Shame on Costco for selling it for less!" The companies would be in big trouble for that, right?

The same goes for us.

Reply by CaliNotary on 3/20/09 4:37pm
Msg #281501

"I just shake my head at those who grumble about other notaries taking lower fees. So what??"

That pretty much says it all. Can you people knock it off already?

Reply by Glenn Strickler on 3/20/09 4:44pm
Msg #281502

Everyone has a right to charge what they think is fair for them. Many times, the TC's have to pay the price and hire a more experienced person to fix the damage, but I don't believe publishing their names is the correct thing to do.

The market will sort things out. I do know people in my area are doing edocs for as little as $45, and I know who they are. One of them actually called me the other day because they were having problems printing the docs. I responded by offering to print the docs for $35 cash. I was hung up on and I don't know the outcome of that particular job, but I got a call from a title company about 20 minutes later who met my fee. I wonder if the two were connected.

If they think they can turn a profit, all considered, then God bless them, for that's the free market. But if they think they can low ball to get business away from the experienced crowd, then raise their prices when the competition falls by the wayside, well that doesn't work either. To get the business, they need to be ready to perform to keep the business, or someone will come along and low-ball them. That is just the way of the world.

Reply by Marian_in_CA on 3/20/09 5:37pm
Msg #281511

There will always be other business who will undercut -- either on purpose or not. Sometimes I'll take a lower fee when I know the benefit of reducing my fee will pay for itself in the long run or the circumstances are just right that even with a lower fee, I still make a profit. I don't consider that "lost money" by any means, but an investment in my business. It's certainly not meant to harm others... but to build my own... but it's one of those things where I am sure the benefits are there.

I can tell you guys that when I quote fees for a job, I never think of what everyone else is charging... only what the job is for me. If I come in lower...great. If not, great.. just move on. I had plenty of services say they can't meet my fees. No harm... I thank them for thinking of me anyway.

I can't afford Bloomingdale's... it doesn't mean I can't shop a little and appreciate what they have... or hope to pop in on a really nice sale or catch something on clearance. I have a Target budget, and that's where I know I'll get what I need most of the time. I doubt Bloomingdale's is terribly bothered that since I'm not their demographic.

If you want to charge the higher fees, you need to find out which companies are in that demographic and market to them... and not worry about the others because they wont be a large part of your income anyway. That's how I look at it, anyway.

Reply by MW/VA on 3/20/09 4:45pm
Msg #281503

Very well said, Marian, & thanks for reminding us of our arrogance.

Reply by Charles_Ca on 3/20/09 4:49pm
Msg #281504

Don't call them out, you'd be advertising them to the SS

that are looking for lowball notaries, let them suffocate!

Reply by NCsignguy on 3/20/09 8:01pm
Msg #281538

Re: Don't call them out, you'd be advertising them to the SS

let them take $65-$75 closings. these are the same people that drive 50 miles, send fax backs, invoice and follow up to be paid 60-90 days later. i will spend my time on profitable business.

Reply by sue_pa on 3/21/09 7:20am
Msg #281578

Re: Don't call them out, you'd be advertising them to the SS

...i will spend my time on profitable business. ...

you made me chuckle w/this statement because above you said you work for NREIS - one of the cheapest of the cheap vms out there.

Does anyone know how well this guy's golf resort he built off our backs is doing in this economy?

Reply by Teddog/CO on 3/21/09 8:26am
Msg #281587

Re: Don't call them out, you'd be advertising them to the SS

Couldn't agree more with you Charles No bailout for them.