I have been in this profession since 2005. I am still making the same as back then. Dare I ask for $10.00 more? Sure I can, I can ask for $25.00 more? Sure I can do anything I like, it is my business...but why should they pay me, when in back of me are 1000's of NSA's still working for the same wage or less?
If you and Cheryl found title companies who pay $150.00 for a refi, hats off to both of you. That is not the norm, but the exception in this business, and I would love for you both to PM the companies you found paying that out. I would really be impressed if they exist. Sincerely, because I have not found that as a rule, only an exception when they need someone really bad and in a pinch.
The trend is they are lowering the pay, not increasing it in this business. "Demographics" as you say have nothing to do with it. I agree. I live in Boca Raton, FL, one of the richest cities in the USA as well. Look it up if you do not believe me. Do they pay more? Nope. I get paid the same per closing when a $10,000,000.00 house refi's the same as a $150,000.00 house who refi's. There is no difference, except the luxury I get sitting looking at the ocean vs a neighbors house. Our rate is the same regardless where the address is, or which "celebrity or athlete" I sit with.
It is sort of degrading that you think all of us NSA's sit around and just accept these lower rates because we do not know how to run our business and ask for more. Sure, we can price what ever we like, that just means we priced ourselves right out of work because of our competition. No one dictates what we accept, as we cannot dictate what they are willing to pay out. You and Cheryl may be something special and acquire $150.00 refi's and loans packages all day long, but news, to you is we are not. If we hold out, we are not working. It's simple. Too many of us accepting $100.00 closings to hold them over a barrell for $150.00. The theory they need us, vs we need them is BS.
Sorry, and I may make a lot of enemies again, but I feel you and Cheryl and I, have been in this business to know what the average pay is per closing nationwide is averaging about $100.00 give or take.
We can run our business as we see fit, but if you have no takers who will pay you the $150.00 closings, you may as well shut the doors. What "we want" and what "we get" are worlds apart. jmo |
