"Those newer in the business and who started at the already reduced fees more readily accept it for what it is."
I agree with the first part of this sentence but not the last. It sounds a bit like a rationalization to me and I don't accept the premise of accepting "it for what it is", especially if you're talking about lowered fees. I will grant you that a new person may not be able to get direct work or command higher fees right out of the gate. There is value in experience. But the more notaries who give in to the idea of a "new normal", the more this becomes a self-fulfilling prophecy.
What I'm saying is that the number of companies that are joining the ranks of low and/or slow paying and poor quality doesn't matter. What matters is which companies are getting contracts with all the various hiring parties out there and who is getting the most files to get signed. If 75% of the companies in SC only get 30% of the industry-wide volume (just to make up a number), who cares? I'd much rather work for the few who are getting 70% of the work, if that's how things end up (whatever the real numbers are).
Of course, we don't have direct control over that, but we can have an influence by setting minimum standards and sticking to them. If you're new, raise those standards as you get more experience by replacing older clients with new, better ones. Those who don't, won't last in this business. We've seen it over and over. If you cave in, you'll either be among the casualties or you'll be depending on other income to get by (and maybe even using that other income to subsidize your notary biz), and making little or no profit for your efforts. That hurts not only your finances, but the entire industry.
Technology will have an impact on how we operate, as many of us have seen over the years, but for the foreseeable future, it won't change certain basic essentials for how our industry works. There will be (and there already are) notaries - new and old - who will figure out new business models that will allow them to roll with these changes while maintaining a significant level of profitability and without giving away the store.
Bottom line, just because someone tells us this is the way it is, doesn't mean we need to accept lowered fees and the "uberizaton" of our businesses.
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| Messages in this Thread |
|  The impact of algorithims on our business. I had a very -  MW/VA on 12/10/16 10:11am |
|  Everyone paid the same? - Christine/OK on 12/10/16 11:12am |
| I agree, this is the biggest bunch of malarkey ... - BearPaw/CO on 12/10/16 11:27am |
| Re: The impact of algorithims on our business. I had a very - Yoli/CA on 12/10/16 1:37pm |
|  Neither have I. My business model will not allow me to - Alz on 12/10/16 2:01pm |
| They wouldn't like my answer to that Faulty line - NVLSlady/VA on 12/10/16 4:26pm |
| My thoughts too NVLS.. - Linda_H/FL on 12/10/16 5:32pm |
|  ["be prepared to pay for EVERY line item and value added - NVLSlady/VA on 12/10/16 6:45pm |
| I completely agree. I don't like having to compromise my - MW/VA on 12/10/16 7:58pm |
| What is your limit? How low will you go? - Belinda/CA on 12/10/16 8:35pm |
| Considering their deed, etc, is not worth the paper - Belinda/CA on 12/10/16 10:40pm |
| Re: Considering their deed, etc, is not worth the paper - JanetK_CA on 12/11/16 12:16am |
| That's incorrect, Belinda - LKT/CA on 12/11/16 9:18am |
| People get the essence of my statement I do believe. n/m - Belinda/CA on 12/12/16 11:02am |
| We've briefly discussed this topic in the past, Marilynn, & - Christine/OK on 12/11/16 2:37am |
| so enlightened! love your suggestions. - sigtogo/OR on 12/11/16 12:38pm |
| algorithms have nothing to do with lowered fees.... - C. Rivera Chicago Notary Services on 12/11/16 6:39am |
| "many in this profession are so set in their archaic ways of - MW/VA on 12/11/16 8:26am |
| Re: "many in this profession are so set in their archaic ways of - C. Rivera Chicago Notary Services on 12/12/16 5:33am |
| Re: algorithms have nothing to do with lowered fees.... - SteveS/CA on 12/11/16 10:57am |
 | Re: algorithms have nothing to do with lowered fees.... - JanetK_CA on 12/13/16 5:05pm |
| Re: The impact of algorithims on our business. I had a very - Cheryl Elliott on 12/11/16 8:41am |
| Exactly, Cheryl. It's a real blessing for those of you who - MW/VA on 12/11/16 8:52am |
| Re: Exactly, Cheryl. It - LKT/CA on 12/11/16 9:29am |
|  Re: Exactly, Cheryl. It - SteveS/CA on 12/11/16 11:02am |
|  If by "anyone," you mean *you*, Steve ... - BearPaw/CO on 12/11/16 11:59am |
| Yep, what Bearpaw said - LKT/CA on 12/11/16 3:28pm |
| Real Estate Meetings - Linda_in_IN on 12/11/16 2:41pm |
| I am an INDEPENDENT contractor. I set my own fee.... - BobbiCT on 12/12/16 7:51am |
| Re: I am an INDEPENDENT contractor. I set my own fee.... - SteveS/CA on 12/12/16 8:46am |
| I do...when you have marketed direct and *most* of your - ananotary on 12/12/16 11:48am |
| I would Challenge the idea that fee reductions and - NVLSlady/VA on 12/12/16 2:11pm |
| I am challenging this kind of thinking. I really don't care - MW/VA on 12/12/16 5:54pm |
| Or that use the equip at spouse's ofc for printing, etc. : ( n/m - Christine/OK on 12/13/16 6:44am |
