Posted by Reenie/CA on 8/28/04 8:48pm
Msg #6930
Don't call me just any old newbie!
I am a certified signing agent who has diligently searched the boards and learned so much from all of you veterans. I am putting together a fee schedule and wanted some input as to how far you travel for your base fee, how much mileage you charge, etc. I am sure it will vary from region to region, however, I guess I am just looking for a jump start to get my fees set in stone. I have been signing for a month and want to have a fee schedule so I don't undercut myself, find myself changing/adjusting my fees on a daily basis or worse yet, just accepting any job. Any input would be valuable and most appreciated. Thanks in advance to all of you veterans for your kind help!
P.S. I hope I spelled everything correctly and used correct punctuation >>Hugh<<.
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Reply by HisHughness on 8/28/04 9:19pm
Msg #6933
Reenie opined:
***P.S. I hope I spelled everything correctly and used correct punctuation >>Hugh<<. ***
You spelled my name correctly, Reenie. That will expiate a multitude of sins.
I charge $125 to title companies for closings in my county and any county adjacent to it. One county over I add $25. Sure does simplify the bookkeeping. If things are slow and I agree to an SS closing, it's $75 and $125. E-docs, execution set and a borrower's copy set, are $35.
Be sure to keep a list of all signing companies you enroll with. When you go up on your fees, you'll want to go back and update them.
Good luck.
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Reply by BrendaTX on 8/30/04 2:16am
Msg #6995
Hi Reenie,
Sylvia once posted a good way to figure travel costs.
I put it into a chart/spreadsheet so that I could look at it and figure out where I wanted to set my rates. I figured it at bases of $50, $55, $60, $65 and $75.
It is just a good place to start to figure what your time and travel is worth. (This is not anything except my own notes on charging, but you are welcome to take a look at it. The link is below.)
I may "butcher" the much clearer way that Sylvia explained it, but as I understand it take a base rate of $50, for an example (--and if this isn't the way Sylvia meant for it to be, it is the way I set up my travel charges because it gives a pretty good picture for the purpose of setting rates.)
Consider that you will travel one-way (OW) for 20 miles/ or a 40 mile round trip (RT) for your base fee.
Divide $50 by 40 RT miles and you have a starting point of $1.25 for each OW mile over 20.
30 Mile travel example:
So, for an additional 10 OW miles over your base 20 OW miles for or a total of 30 OW miles away from your base (60 RT miles), for instance, by my spreadsheet you add $12.50 to $50 for a total of $62.50. I round that >>up to the nearest $5<< for $65.00.
35 Mile travel example:
If it were 15 OW miles over 20 OW included base fee miles for a total of 35 OW (70 RT) miles, then you would add $50 base fee, plus (15 x $1.25)=$18.50 for a total of $68.50. I would round that >>up to the nearest $5<< to $70.00 = the fee for a $50 base fee and 35 OW miles out from your base.
If you use this chart, please save it to your computer's harddrive because sometimes I move things around and it may not be there next week.
Here's the link - use it at your own risk because I may have a mistake or two in there in my rounding up or down to the nearest $5.
http://texnotary.com/r-a-t-e-t-r-a-v-e-l.pdf
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Reply by Happy in Fl on 8/30/04 4:43am
Msg #6996
Brenda TX- Thankyou so much!
You made my Day.!!!!! Happy is now "Very Happy"- What a thoughtful- pleasant- unselfish contribution you just made to us fellow " NOTARIANS"- May the seeds of kindness you cast upon the waters- return a bountifull return to you- many times over! Appreciate all your input into this Forum.
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Reply by BrendaTX on 8/30/04 7:48am
Msg #6998
Re: Brenda TX- Thankyou so much!
You are welcome!
Bremda
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Reply by nah_AR on 8/30/04 9:39am
Msg #6999
Re: Brenda TX- Thankyou so much!
Thank you!!!
I have been doing this for quite and while and living in very Rural Arkansas I very seldom get a closing that is closer than 30 to 50 miles one-way. Unfortunately when a signing company calls I have to figure out a price and quick. Therefore to keep from being unprofessional I try to quote base fee plus mileage but sometimes when you are not in front of your desk that can be difficult. In doing so I have actually lost money on a couple of closings. Thank you for allowing me to use your hard work as a base. I must tell you I have set up several speadsheets to help me, however they were not broken down as much as yours.
Once again thanks.
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Reply by BrendaTX on 8/30/04 9:50am
Msg #7000
Re: Brenda TX- Thankyou so much!
You are very welcome!
Brenda
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Reply by Reenie/CA on 8/30/04 10:41am
Msg #7007
Re: Brenda TX- Thankyou so much!
Thanks so much Brenda! You made my day and the day ain't even over yet! The information you provided will really benefit me as well as others, I'm sure.
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Reply by BrendaTX on 8/30/04 11:37am
Msg #7013
Re: Brenda TX- Thankyou so much!
Honorable Teacher PAW and Honorable Teacher Sylvia on NotaryRotary.com teach me "wax on" and "wax off" and I pass it along. (:>)
You made MY day. Thank you.
Brenda
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Reply by Sylvia_FL on 8/30/04 12:43pm
Msg #7015
Brenda
Brenda wrote:
"I may "butcher" the much clearer way that Sylvia explained it, but as I understand it take a base rate of $50, for an example (--and if this isn't the way Sylvia meant for it to be, it is the way I set up my travel charges because it gives a pretty good picture for the purpose of setting rates.)
Consider that you will travel one-way (OW) for 20 miles/ or a 40 mile round trip (RT) for your base fee.
Divide $50 by 40 RT miles and you have a starting point of $1.25 for each OW mile over 20.
30 Mile travel example:
So, for an additional 10 OW miles over your base 20 OW miles for or a total of 30 OW miles away from your base (60 RT miles), for instance, by my spreadsheet you add $12.50 to $50 for a total of $62.50. I round that >>up to the nearest $5<< for $65.00.
35 Mile travel example:
If it were 15 OW miles over 20 OW included base fee miles for a total of 35 OW (70 RT) miles, then you would add $50 base fee, plus (15 x $1.25)=$18.50 for a total of $68.50. I would round that >>up to the nearest $5<< to $70.00 = the fee for a $50 base fee and 35 OW miles out from your base."
Brenda
This is not the way I had it
35 mile travel one way is 70 mile round trip. This is a fee of 70 x 1.25= $87.50
Just use the $50 as a base for a 40 mile round trip. (20 mile one way) so 40X$1.25=50
The way you are calculating, you are only accounting for the one way mileage over the base.
Just take the whole mileage (round trip) and multiply it by $1.25.
You are cheating yourself the way you are calculating
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Reply by Reenie/CA on 8/30/04 12:47pm
Msg #7017
Re: Brenda
Ah, ha! Thanks for the clarification Sylvia!
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Reply by BrendaTX on 8/30/04 1:32pm
Msg #7018
Read Sylvia's Post Above!!!
Thank you, Sylvia!!!!
If I feel energetic tonight, I might re-do the SSheet for those who are interested and give the better fee scale on another link.
Obviously, I like your way better, Sylvia, however, it's not easy to make it happen overnight and get the fees that seem to be the going rate in other areas. I am beginning to get the "right" base client and with a few more of those, I do not think that a bit of a raise will be a problem.
I would highly recommend anyone using my "notes" be aware of what Sylvia states and do some number crunching to get a good place for your fees and travel. I have been using this method of figuring my travel, so, if I get around to fixing it, I will be getting a raise!
That's a good enough reason to declare "Fiesta!!!" Send in the mariachi band and bring on the Tequila!!
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Reply by Reenie/CA on 8/30/04 12:46pm
Msg #7016
I followed your link http://texnotary.com/r-a-t-e-t-r-a-v-e-l.pdf and drew a "blank." I have Adobe Reader installed, and I see it is a pdf file, so don't know what the problem is.
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Reply by BrendaTX on 8/30/04 1:35pm
Msg #7019
Sorry. Maybe you need a new download of Adobe Reader. The PDF is made from Acrobat 6.0. I do not know what the difference would be, but it could have an effect. I will try it on my lap top to see if I get that kind of response. I only use it from my desktop pc so it may be caching it or something even though it is online for me to pull down.
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Reply by BrendaTX on 8/30/04 1:37pm
Msg #7020
It came up on my laptop. Maybe someone else can tell you. I have also run across a blank one here and there myself. I have no idea what causes it.
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Reply by Reenie/CA on 8/30/04 1:51pm
Msg #7022
Bummer, I have 6.0 Adobe and have no problems at all with other pdf files....Hmmmmmmmmm
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Reply by Kathy-PA on 8/31/04 7:58am
Msg #7055
Hi Brenda - I just wanted to say thank you for posting your chart - it's extremely helpful!!! You get a gold star for helping others Have a good one.
Kathy
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Reply by BrendaTX on 8/31/04 8:55am
Msg #7058
You are welcome! Do read what Sylvia above, however. When I posted the link, I did verify that they were *my* notes and what I use for figuring my travel fees. Some areas, like PA, can probably use a higher travel rate than I have been using.
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