Posted by LaTasha/CA on 5/21/13 3:41pm
Msg #470793

New Signing Agent re:lowball offers

I'm new and have read several messages on the forum re: lowball offers. I have started signing up with the signing services and am noticing they require experience or they have low signing fees. So how does a new agent get business and experience without accepting the low fees? Any specific companies to sign up with? I live in the bay area. Thanks

Reply by 101livescan on 5/21/13 5:33pm
Msg #470816

Make an investment in yourself by taking the time to read this board beginning to end. We've started to see that low fees have been the trend for a couple of years now. Getting lower and lower. Arm yourself. You need to prepare yourself and guard yourself from the predators that have emerged on the scene lately. Since you don't link yourself to a profile that is compelling to make someone want to hire you, I would imagine it will be a slow go for you. If you want to ramp up, study the collaborative discussions here and make your own educated guess about how to conduct your business and set your fee schedule. There is plenty of opportunity out there.

No one here will hand it over on a silver platter. It's monthend, and we're busy!

Reply by LaTasha/CA on 5/21/13 11:10pm
Msg #470844

Thanks for your response. I've read this forum and several others which is why I am aware that the offers are low. It is due to the advice from this and other forums that I am signing up with multiple agencies. My issue is so far I have only seen low offers or experienced required. I was just wondering if there were any signing services that pay decently to beginners. If someone has that info then great if not no worries. I've already done the math, my laser printer is being delivered tomorrow, and I am trying to get all the advice from other more experienced notaries that are willing to give it. Learning never ends.

Reply by NVLSlady/VA on 5/21/13 11:38pm
Msg #470846

Cheryl is right. You will need to sell yourself in your profile. I don't know what industry/line of work you are in, but if it's any kind of customer service, highlight that. Your people skills will go a long way and may land you the job no one else wants. Don't be afraid to put that in your profile. What you don't want to do is sell yourself cheap.

You could do this: Make a realistic fee schedule (based on conditions in your market and your travel & overhead); then create a spreadsheet of all the companies you call - and who contact you. Rate them. Sort them and determine the ones you will work for - and who will pay for that new laser printer and the toner it will need!

Reply by 101livescan on 5/22/13 1:08am
Msg #470849

It is just not going to happen. Our contacts are like gold nuggets, relationships we've fostered over the years. There are simply no shortcuts. You're going to have to do your own research and foster your own relationships,..Mrs. Fields won't sell her cookie recipe either.

Reply by sealed/CA on 5/22/13 4:22am
Msg #470854

Hi LaTasha,
It's just like any new business. It takes time and a lot of marketing to get started.
With loan signings it's extremely important that you understand the docs that you're presenting. Spend your time getting to know them thoroughly. You may want to practice with a family member. Take a loan signing class or two if you haven't already.
When you do get called for a job, let them know that you're new. That way they will know that you may need some help and be available for you. They also may pass you by if they don't have the time to help. Don't worry, someone will take you on. When you do a good job they'll call again. Eventually, you'll be experienced.
In the beginning don't take any rush jobs. You'll need to spend considerable time going through the docs before heading to the signing. That's a practice that should remain even when your seasoned, although you'll spend less time.
Consider the time you will put into each signing. Every one will take several hours when you consider time for calls, printing, reviewing, traveling, time spent at the signing, dropping at the courier, etc. Also consider the cost of your commission and all fees involved with that. Then consider your laser printer and the cost of paper and toner not to mention your marketing fees and E&O insurance. Don't undersell yourself because that doesn't pay your expenses and continues a downward spiral of lower fees for all signing agents. Once you accept a fee, they will expect to pay that each time they call you.
You will just need to calculate your real expenses and decide how much you really need to accept to pay bills and make a profit.
I hope this is helpful.
Blessings.