Posted by Annette Gadsden-Smith on 1/4/11 4:16pm
Msg #366971

Average Pay from Title Companies

Can anyone shed some light on the average fee paid to a signing agent, directly from a title company, as opposed to one of the signing services?

Reply by ReneeK_MI on 1/4/11 4:31pm
Msg #366975

Everyone's average fee is specific to their own business decisions, relative to the profit margin they need/want.

I, for one, see no reason to change my profit margin just because someone different is writing the check. My services don't change, why would my fee?

Reply by Annette Gadsden-Smith on 1/4/11 4:34pm
Msg #366976

So what is your fee for e-docs?

Reply by LeeH/IN on 1/4/11 4:42pm
Msg #366981

I was under the impression that Title companies pay a little higher or at least meet the Notary's fee without hassle but in today's market you never know what you are going to get. I've come across a Title company that pays less than the SS that hires Notaries for them. Go figure.

Reply by Annette Gadsden-Smith on 1/4/11 4:51pm
Msg #366982

Who was that company? I certainly don't want to do anything for them.
Again, can someone give me an average $$$ amount for title companies?

Reply by MistarellaFL on 1/4/11 4:52pm
Msg #366983

Avg for me is $150 from TC's n/m

Reply by Alice/MD on 1/4/11 5:25pm
Msg #366986

Re: Avg for me is $150 for edocs or everyone.

My flat fee is $150 for edocs. I adjust my fee .....depending on mileage, size of docs to be printed and fax backs. " That is my story and I am sticking to it "

Reply by Annette Gadsden-Smith on 1/4/11 5:48pm
Msg #366992

Re: Avg for me is $150 for edocs or everyone.

Great, thanks for the info.

Reply by jba/fl on 1/4/11 7:20pm
Msg #367008

Remember: that is average. Some are way more! n/m

Reply by jba/fl on 1/4/11 8:41pm
Msg #367025

And, Annette, since you are a signing service

or pimp, if you will, have a high class stable and offer your SA's the $125-150 they deserve which means you have to get $200+ for that signing. Don't be shy - ask and ye shall receive.

Your high class stable will be able to save the signing at the table many, many times, making it easy for you to pay them in full when there might be an occassional no sign. You can save on extra personnel knowing that they don't need hands held or noses wiped. You won't be fielding calls from settlement agents or TC closers because they will have excellent product returned to them.

You must be well funded with sufficient working capital.

I also looked you up but didn't have the time to respond few hours ago. I'm leary of new companies right now and I don't think I am alone in this. You are like newbies - untested, not weathered, still in training, unless you came from another signing service. But you gave yourself away - you asked us how to do what you should already know.

JMO

Reply by Donna McDaniel on 1/4/11 5:44pm
Msg #366991

Annette, aren't YOU a signing service?

Are you affiliated with The Associate(s) Consortium, LLC?

Reply by Linda_H/FL on 1/4/11 7:11pm
Msg #367006

Message Deleted

This message has been deleted by a forum moderator.

Reason: Author Request - Special Exception

Reply by Donna McDaniel on 1/4/11 7:38pm
Msg #367012

They've only been in business since May.

Probably doing some research.

Reply by Heather Smith on 1/4/11 7:20pm
Msg #367007

Re: Annette, aren't YOU a signing service?

WOW!! BUSTED!

Reply by Annette Gadsden-Smith on 1/4/11 7:46pm
Msg #367013

Re: Annette, aren't YOU a signing service?

In answer to your question Donna and Linda, one of the goals of the Associates is to become a full blown signing service, but that has not occurred yet. Therefore we are currently IBA's through other companies just as most of you but we get paid through our company.
So I have no need to be BUSTED!!!

But please continue to spread the website: www.theassociatesconsortium.com, as we do provide an array of other products and services (home /auto insurance, loans, business consulting, real estate services, etc.) to improve/enhance your business and personal needs.

Reply by Linda_H/FL on 1/4/11 7:53pm
Msg #367018

Well, Annette...you just turned your innocent question

into advertising...don't be surprised to see your post deleted.

And I didn't say you were BUSTED....

Reply by Annette Gadsden-Smith on 1/4/11 8:04pm
Msg #367019

Re: Well, Annette...you just turned your innocent question

My apology Linda, that was for Heather.

Reply by Donna McDaniel on 1/4/11 8:07pm
Msg #367020

Re: Annette, aren't YOU a signing service?

Annette, it was not my intention to "bust" you.
I only looked you up because I have never seen you post before and I assumed you were new, judging by the question you asked. Since you are in Florida, I wanted to find out where you were located. I like to know my competition.
I checked out your website (very professional!) and wish you the best in your new endeavor and, who knows, maybe we will do business someday.
I would advise, however, that you not use this forum to do your research.

Reply by Annette Gadsden-Smith on 1/4/11 8:20pm
Msg #367022

Re: Annette, aren't YOU a signing service?

Donna I appreciate your words and will heed your message.
I just took offense to the way the young lady used term "busted" as though I had something to hide.
Good luck to you also.

Reply by Heather Smith on 1/4/11 8:28pm
Msg #367023

Re: Annette, aren't YOU a signing service?

Annette,

I am the one who shouted "Busted!" Please forgive me for feeling that you posted a question on a forum for notaries, when it turns out you are planning on becoming a SS. I assume you will be marketing to title co's and then hiring notaries after taking your "cut."

There are plenty of SS's out there who pay us notaries fairly. Many of which were started by NSA's and have experienced work out here in the trenches - they treat us with respect.

In my opinion, it was a sneaky move asking us what we are paid when we work directly with title. When posting on this site, many of us assume that you are a notary, maybe a newbie looking for advice. Apparently you are not a fledgling NSA looking for help, you are an SS researching a possible profit margin.

Please take that info into consideration...

Reply by BrendaTx on 1/5/11 6:32am
Msg #367036

It is all in perspective, Annette.

*one of the goals of the Associates is to become a full blown signing service,*

Another way to make that statement is to say, "One of the goals of the Associates is to become your competition and take away your best title company clients. Then we will offer you the work for a pittance; we will make more than you for making a phone call."

A Florida notary asking a Texas notary the question, "How much do you charge a title company?" is a lot different than a a signing service that will schedule any state's' assignments asking how much notaries charge title companies. Perceivably, you (a new signing service) can take that figure and undercut it in order to get title company work and take it away from experienced notaries such as those reading here.

Signing services do that; that is what they are established for. As long as they can skim $50-$100 per signing away from the work it's all good for them. Most of them don't have the money to run the business anyhow.

There is more than one SS charging the title company $95 and offering a notary $50. Signing services that do that are the reason for the lower fees notaries are currently offered. Over the years notaries have lost $200-$250 fees for closing for title companies to this kind of practice.

Signing services have jumped in the middle and bargained down the prices, and eventually over time, lowered all fees for all notaries.

What good purpose have independent signing services provided the industry? They were a qucik fix to find notaries...notaries that didn't have a clue as to what they were doing and gave notaries professional a bad image.

They made phone calls and scheduled assignments without knowing the notaries (or their work product quality) that they contracted with. They paid them $50 for a $150 job.

Signing services such as the one previously run by an NR member, Sylvia, contracted with notaries with whom they were familiar and they knew whether or not the notary that they chose would do a good job. Those signing services served a good purpose. They got a good fee for notaries.

On the other hand, signing services now will call any notary with a phone number and offer them $50. They are often under-capitalized so that the notaries get paid at 60 or 90 days, or not at all.

You should state upfront that this is your mission when asking notaries questions. Otherwise, when they see your website and its SS offerings, they may say they have "busted" you.

Reply by ReneeK_MI on 1/5/11 6:57am
Msg #367042

And this is a finely written perspective - thanks! n/m

Reply by Moneyman/TX on 1/5/11 7:56am
Msg #367049

I also agree. Thank you Brenda! n/m

Reply by MistarellaFL on 1/5/11 10:20am
Msg #367080

Absolutely 100% Correct Brenda (as usual)!

Take heed Annette!

Reply by Lorraine Lougheed on 1/5/11 11:07am
Msg #367094

BRAVO BRAVO Brenda! Very well put. Thanks n/m

Reply by MichiganAl on 1/5/11 10:38pm
Msg #367245

And we have an early front runner for post of the year. n/m

Reply by Christine L. Reeves on 1/4/11 5:49pm
Msg #366993

$150.00 directly from a title company.

Reply by Moneyman/TX on 1/6/11 3:07am
Msg #367258

Payment in full and usually Net 15 or less

That's pretty average for all the TC I have worked with.

If you would please, What is the average that you ,and your group that desires to become a SS pay SA''s for their services? Net 15 or Net 30?


I guess another way of looking at it might be to ask you, how much of what would be my profit are you asking me to give to you for the privilege of having you, or your company, step in between the TC and the NSA?

If a TC that I had never heard of, nor they of me and we come to an agreement on a price, again, how much are you and/or your company asking that I give up to you so that --- 1 call to find me, and another one to say "docs are in" as well as 2 emails along the same lines will be headed my way?



How much of what would otherwise be mine, the actual NSA on site for the borrowers the day of the closing and preforming my duties are you suggesting would be fair for the service your SS would be providing me, the NSA?