Reply by Treasure Valley Notary - Tina on 1/16/12 5:05pm
Msg #409191
Loan signing agents can't make a profit with these kind of fees. Period. Point blank. Everyone has different fees, expenses, etc. But for me I have to average $50 per hour to begin to make a profit. If I do that I can accommodate milage, printer replacement, profitable wage to live off of, etc.
Those that take these kind of fees for the travel need to apply to be a non-profit organization. At some point they are going to have to do some fund raising and ask for donations.
We recently needed a repairman to come to the house. He wanted $200 minimum and that was before labors and parts. We are offering the "labor and parts" in our pricing. Plus travel. Sometimes fax backs. Etc.
No matter the industry, those that are in business need to act like a business. And as long as people accept these kind of fees, the title companies and signing services will keep offering them. I wouldn't think twice about turning it down. Sometimes they will call back and meet my quote and sometimes they won't. And that is ok. It is no different than me wanting a hamburger one day and prime rib another. Just don't ask me to give prime rib service for hamburger prices.
Do some homework and figure out just what it is going to take for you to make money. Calculate it in your zip code. Then calculate it to locations that you are willing to travel to. When I have to drive 3 hours one way, I am looking at basically an 8+ hour day. Just for one signing. And will that trip take even longer due to road conditions (ie: snow)? So I had better know what the weather is like in the mountains. It may mean I need to take the 4 wheel drive, which is an added expense.
Good luck to you. Email me if you are unsure where to start.
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