Posted by Becky/NC on 12/22/04 3:34pm
Msg #14343

Has anyone else gotten this email?

I received an email from Nationwide Appraisal & Title Services (NASCO) today asking me to cut my rates by 5 - 10 bucks. "You are considered to be in our top 100 notaries database and this is the reason for this email." Only their best notaries are being asked cut fees? Of the 6 signings I have completed for them, only 1 has been less than 20 mile round trip and 4 have been edocs. Am I right to be both puzzled and a little angry? I am thinking of sending them a spreadsheet that shows mileage to most locations that I am willing to cover and fees based on the mileage, etc. with and without edocs, and stating that fees are not negotiable. Anybody else have any thoughts?

Reply by Dennis D Broadbooks on 12/22/04 4:13pm
Msg #14346

No and Yes

NO, I haven't received that e-mail yet and YES, I have a thought...completely ignore it & charge your normal fee. They can ASK us to reduce our fees all they want...we have the right to ASK for whatever we want to make a decent & fair profit. JMHO!

Reply by CaliNotary on 12/22/04 5:37pm
Msg #14353

No, you're not right to be angry over this. These companies have every right to set their fee schedule as they see fit. We have every right to set our own fee schedule as we see fit. If their fees and your fees don't match, don't accept the job.

One of the problems that I see on this board is that too many people don't seem to realize what it truly is to be an independent contractor. They want the benefits that come along with being independent, but want the title companies and signing services to treat us more like employees.

If a company sees that they can get the same work done for less money, why wouldn't they try to do it? In business the goal is to maximize the bottom line. We do it for ourselves, why do we expect these companies to be any different? If you know you can get a company to pay $100 for a signing would you only charge them $75? Of course not. And the reverse is true as well; if they can get a notary to go out for $75 instead of $100, of course they're going to choose the $75 option.

In business, more competition means lower prices. As consumers we love it, as self employed individuals we don't. But that's reality and it's just going continue as more and more people enter this field.

All we can do is decide what fees are acceptable to us and accept or turn down jobs accordingly. If it gets to the point where we're turning down more work than we're accepting then it's time to reevaluate whether we should be in this business or not or whether we need to adjust our fees to fit the reality of the market. And for some of us that will involve swallowing a whole lot of pride and realizing that while not just anyone can do this job, there are a heck of a lot of people out there who CAN do this job and are willing to do it cheaper.

Reply by Art_MD on 12/23/04 7:50am
Msg #14408

I too am in their "top 100". I'd love to see how many of the 100 are on this board.
NASCO is one of my favorite companies to work for.
I will NOT be cutting rates. I sent them an E-mail saying that I am holding my rates as is for the present. Also, that due to increases in costs - gas, insurance, office supplies etc. rates will be reviewed periodically.
Here in MD we have a unique(?) situation. We have to be licensed by the State Insurance Admin. as Title Insurance Producers. This requires 6 continuing education units approved by the state, to renew. Also, a $100,000 surety bond must be maintained.