Posted by Dana Hayes on 1/24/11 1:38pm
Msg #369882

What is acceptable fee for more than one signer

A few weeks ago I was contacted by a SA(do not remember the name) to do a notary for 30 signers. I thing I prosposed a dumb fee of 75.00 which is probably why they never called me back. please advise as to what is standard fee for this type of work for future knowledge. Thank you Dumbfounded....

Reply by Linda_H/FL on 1/24/11 1:53pm
Msg #369887

Are they all going to be in the same place? All at one time or within a reasonable period of time (you don't have to sit all day and wait as they straggle in one or two at a time)?

I'd quote my statutory allowable fee per notarization plus time/travel. If you have to sit and wait for any period of time then figure an hourly fee that adequately compensates you - remember, you're tied up with them til it's done and you're not available for any other work for that period of time.

MHO

Reply by FlaNotary2 on 1/24/11 1:55pm
Msg #369888

First of all

... you do not "do a notary". You "perform a notarization", and you ARE a notary. So when you say "I did a notary", you sound unprofessional.

Standard fee is generally $125. If that agency thought you were asking for too much with a $75 fee, than you shouldn't be using that agency.

But, from the looks of it, it seems that you have not been in this business long (and this business is completely oversaturated, and even experienced notaries have had to get full time jobs to stay afloat), and you don't seem to have much general notary knowledge, as evidenced by your use of the phrase "do a notary".

I don't mean to sound harsh, but I think you need to perfect your professional and notarial skills before you try to get in on a signing agent business that is already going down the drain fast. I hope that you didn't fall for the "get rich quick" scheme...

Reply by FlaNotary2 on 1/24/11 1:56pm
Msg #369889

Sorry, misinterpreted

You weren't doing a signing, you were simply notarizing 30 signatures.

I would charge $10.00 per signature = $300.00.

I hope that they weren't expecting to have this done for $75.

Reply by Larry/IL on 1/24/11 2:21pm
Msg #369891

Re: First of all.....WOW n/m

Reply by Linda_H/FL on 1/24/11 2:39pm
Msg #369894

I sort of agree with Robert - depends on the circumstances

We could be talking 30 individual documents here (which we probably are) - meaning 30 sets of ID, 30 certs and 30 journal entries...

And as I posted previously, not to mention the time involved and travel considerations. I *might* give a discount depending on the "time" factor - again, am I sitting waiting for everyone to show up - am I sitting for 6-8 hours...time is money.

Reply by Cari on 1/24/11 2:47pm
Msg #369897

since Il notaries can only charge a $1 per sig, I'd charge

by the hour, plus travel if any..

Reply by Virginia/PA on 1/24/11 2:24pm
Msg #369892

I would imagine it would depend on your state's laws if your state regulates fees. In Pennsylvania, if the document is an acknowledged document, the notary fee is $5.00 for the first signature and $2.00 for each additional signer. If you had clerical work involved such as meeting them someplace instead of them coming to you, then you could charge for that service.

If the document was an affidavit and a jurat was used, the Pennsylvania fee is $5.00 for EVERYONE - even if there are 1,000. A clerical fee could also be charged if clerical work was performed, and if the parties were done all at once a clerical fee would be less than if they drizzled in over a period of several hours.

Again - depends on your state's laws.
MHO

Reply by JanetK_CA on 1/24/11 2:55pm
Msg #369901

I think you got some good advice here, but I would just add, for future reference, that in reality, there really isn't such a thing as a "standard fee" once you get beyond what your state notary laws allow.

When you run into situations like this that don't fall into the usual categories, it's a good idea to ask lots of questions to find out what the circumstances will be, what will be expected, where you have to go, etc.. You can even tell them that you will have to do some calculations and get right back to them, but you risk them moving on to someone else. Then figure out your costs, the time involved, what it's worth to you, etc. You may even want to consider negotiating with them. It's even better, though, to have some general ideas of what your fees are for different things. Then it would be easier to come up with a reasonable fee while you're on the phone with them.

That's part of what makes you look life a professional - as well as getting the terminology correct. BTW, one more thing... It's possible they never called you back for a variety of other reasons - like the event never took place, or some other agency found someone first. You just never know.

Reply by MW/VA on 1/24/11 2:57pm
Msg #369902

I think in the future you would want to get more info before

quoting a fee, like what was the nature of the document, how close would the appts. be scheduled together, etc. It could have been 2-3 hrs. or all day. As far as fees are concerned, your base fee would be whatever your state allows per notarization, then an additional fee for time/travel, etc.
You might not get the joke about "do a notary", but some of us have had some real chuckles about the use of that phrase. LOL