I don't post often here but now I've gotten to the point where this whole thing about the trend to lower fees just annoys me to no end. It isn't the low ball companies, title companies or anything like that where the problem stems from. It is, in fact, the notaries that are the problem. We have many notaries who have little if any idea what their job is all about and thus, because they are either unsure of themselves and/or have no idea how to conduct their business, they are the ones driving this whole business into the ground. Look at their resumes on line and you will see, "my fees are negotiable". Who owns your business, you or the customers you deal with? Even the place where I have my car washed has a list of prices for various services and certainly aren't "negotiable" in price. The cost of machinery, paper, gas, insurance, maintenance, etc. is the same for all of us. However, if you look at the real bottom line profit, I'll bet for many, it is "0" and you don't even realize it.
If this business is described as a "profession", then let it be one. There is only a finite number of Notary closers and the customers, signing service and title companies, only have a certain number of people to go to. I'm not advocating price fixing but if we act as professionals and want others to view us as so, then let's get with it and be professional.
I know we can't give legal advice but it behooves every one of us to know exactly the meaning of every document in the package so that when the borrower asks what the APR is, we can answer with confidence.
The people who should be reading every single posting on this site, probably don't and there will always be notaries out there who think we are at the mercy of the lowballers, non payers, etc. The fact of the matter is that we can drive every single low baller out of business by maintaining high standards and ethics for ourselves and then let the companies choose from people who are competent, professional and capable of giving the best work rather than sit and wonder when their phone will ring, and when it does, be so appreciative of some crappy company wanting to give you peanuts because you have already proven that you will accept their paltry fees and be grateful to them.
Like Cheryl, I also do an awful lot of closing every month and every one is from a company that wants the best and is willing to pay for it. When they call and start the conversation with, "it's a small package" or, "it's real close to you" or, "it only requires one or two stamps", that sets the scene for the real grabber which is, "we're only willing to pay some jerk who accepts this, a very small fee".
There are notaries in the areas I cover who have such poorly written resumes that appear they are begging for work with the "my fees are negotiable" statement that it is almost laughable. These are the ones the bad companies are drawn to like a magnet and they will prey on those notaries for all they can.
Remember folks that when you talk about the low ball companies, they are only there offering you peanuts because you just about have hung a sign out saying, "please call me, I won't charge much and probably even less than you want to pay"
If every one in this business were to be aware of the service we perform, you wouldn't have to get on this site and constantly complain about the lowballers and poor fees offered. |