I do a mile distance set up. 0-30 miles is $100 and if they state it is only 5 miles away, explain that you get the same price for 30 miles so it averages out. I then increment up from there depending on location, drive time (usually mountains involved). Also, do they want scan/faxbacks that is $25, page size (packages are getting larger now) over 150 $25, over 200 $40 increase.
I do have another notary in the area that is under bidding, so I am losing a bit of business that way, but I do have a professional vinyl portfolio the borrowers get their copy in (and all appreciate it), and I have business pens that I hand out. I have tried to contact the other notary, but he doesn't respond so that means you cannot work as a team and everyone make money.
Find notaries in your area and discuss so that the companies can't try and get you rock bottom. Remember your time is worth money too.
The following is a rough schedule of costs:
Print fee: .1/page so 300 pages $30
travel time .75/mile (time and mileage rate) 50 miles round trip $37.50
Time at the table (usually an hour, reverse mortgages 1.5 hrs) $30 - $45
I do have big printers in my office and my home so I can do dual tray and print fairly fast. My office printer has a scan to email function so that helps a lot. Remember the use of your equipment needs to be in the cost, their time isn't free either so remember your a business not an employee. I am an accountant by trade and work 7 days a week as I am my own employee. |
