Posted by Jennifer Rundall on 10/21/04 11:04pm
Msg #10276

Business slowing down???

I was wondering if some of you are slowing down at all due to the holidays comming? I have not gotten a call in almost a week and a half..well, up until today. I have one signing agency that uses me quite regularly, but I would really like to start getting more business. I am limited to doing signings evenings and weekends since I hold a full time job in the mortgage industry. Any suggestions on what I can do? I honestly do not care to market to any new siging agencies due to all the issues with $ and etc. Any low budget ideas on marketing etc? I have a website and have thought about doing direct mailings to title and mortgage co.'s in my state. Has anyone tried that? What has been your experiences? Any help would be greatly appreciated.

Thank you!!

Jennifer
www.AZMobileNotarySigner.com

Reply by CaliNotary on 10/22/04 2:26am
Msg #10283

I'm actually having my best month ever. Not sure why this is, but I ain't complaining.

Direct mailing is not a particularly cheap way of marketing. BUT, you only need to get a couple of jobs from it before you've covered your costs so it's not a bad idea. I've never done it so I don't know what the response rate is, but I know that in general a very low percentage of responses is normal with direct mailing. 3% would be a HUGE success rate.

Reply by CarolynCO on 10/22/04 8:13am
Msg #10285

The biggest reason why marketing with direct mailing doesn't work, is that it takes an average of 8-10 times of mailing to the same company *before* they *might* consider using your services. You can't mail a marketing piece one or two times and expect great results. It is far better to select a smaller number of companies to send to and send something every week or every other week for 6-8 months, than to select a huge one-time mailing only. You've got to get your name out in front of them and keep it in front of them -- that means making sure they see your name over and over and over. You could mail a couple of pieces and then make some *warm* calls and personally visiting the office by taking some treats -- cookies, candy, etc., and then immediately mailing them another piece -- they will remember who you are from the treats you just took. Jay Conrad Levinson has some great Guerrilla Marketing books.

Reply by BrendaTX on 10/22/04 8:50am
Msg #10287

I haven't read those books, Carolyn, but I have been working about 25 companies at a time.

Give them something they'll hang on to and keep near their desk.

Reply by KC/IN on 10/22/04 9:06am
Msg #10289

It's been slow around here also. Comes with the territory though.

Reply by mike/ca on 10/22/04 11:53am
Msg #10293

first 2 weeks of month were excellent, seems a little quiet now thou, but all part of the business.

Reply by sandi_CA on 10/22/04 1:44pm
Msg #10295

Not slowing down for me, and I'm happy about that! I have been busier than ever! Maybe it's just the area, but I'm thrilled! I work part-time around my Mon-Fri, 8-5 job, but I'm booked up completely every night and all weekend, through the 23rd! This will make Christmas a little brighter, I hope!

Reply by jyhoward on 10/22/04 2:26pm
Msg #10296

I'm turning business away. I'd have to say the last two months have been great. My friend is an underwriter and tells me that because the dow is under 10,000. Applications for ReFi's and purchases are doubling up this month.

Reply by joe/nc on 10/22/04 4:51pm
Msg #10303

It has been very slow this month for me i am full time in NC and I dont know where all the companies went that wetre calling.
I just created a website and have 2 URL's linked, hoping I can get the word out and maybe do some mailings.

I only had 2 signings this week and have 2 set up for next week so far.

www.mobilenotarycloser.com or www.certifiednotarysigning.com


joe/nc

Reply by Joan Bergstrom on 10/22/04 10:34pm
Msg #10312

I mean this sincerely: how does the DOW affect the refi market? I thought it was all about Greenspan and the bond market? Obviously I'm in over my head here.

I'm very busy also in Riverside, Ca

Reply by Julie-NI on 10/22/04 11:16pm
Msg #10314

Joan, hopefully this is in the correct spot

Mortgage rates do tie into the stock market to a certain degree.

Think about the stock market during the late 90's up, up, up it went with the dot coms out there. For decent credit mortgagor's, rates were about 7.5 percent. The stock market slowly declined as the Mary Meekers stopped reporting to buy yahoo at $210 a share. The market was overinflated as the dot coms were worthless. The public started to become aware and then 9/11 happened. After that, the stock market went down down down and mortgage rates went down to 40 year lows. Greenspan began to lower rates to spur the economy. It worked to a degree, and now he has had to increase the rate a bit to curb inflation.

Hope this helps a bit, I'm no economist, just married to a former day trader who rather knows his stuff.

Reply by Roger/Mich on 10/22/04 8:50pm
Msg #10307

What is considered a good month

I retired from my job last year and I am now full time. I average 1 a day, except for this month it is one every other day. I would like to know what is a good month by those who have been in the business for more than two years. I am happy with my workload of 1 a day, there are times I had three in one day. I was scurring around like a cat chasing a mouse. I like the pace of 1 per day and a fairly nice income...except from NOTARY AMERICA.

Reply by PAW Notary Services on 10/22/04 9:02pm
Msg #10308

Re: What is considered a good month

If you are satisfied with what you did in a month, it is a good month. If you think you should have done more, than it may not have been such a good month. If you did twice what you would have been satisfied with, I'll move to Michigan. (Just kidding.)

Reply by Roger/Mich on 10/22/04 9:12pm
Msg #10309

Re: What is considered a good month

Still, I would like to know what is considered a good month in this business.
Currently, I average 3 per week for October. Last month and past I averaged 1 per day for 5 days. I would greatly appreciate a better response. I have only been at it for almost two years.

Reply by HisHughness on 10/24/04 5:42pm
Msg #10411

Re: What is considered a good month

Monday, Oct. 25, schedule: One document subpoena and one e-docs closing in morning, three closings in afternoon/evening.

Tuesday = 0 (doing a consulting job 8:30-4:30 p.m.; may pick up an evening closing)

Wednesday = 0 (consulting)

Thursday = 0 (doing a consulting job 8:30-4:30 p.m.; may pick up an evening closing)

Friday, Oct. 29: One late afternoon closing.

Reply by 10-12 A Week at $125+ each.... on 10/23/04 12:28am
Msg #10318

Re: What is considered a good month

means a good month for me! I average abour $4,000+ per month for the past 4 years. I've been doing signings full time in So CA now for 5 1/2 years now. This week I have 11, which is perfect for me. Plus I had Wednesday & Friday off & I have 4 tomorrow - all HELOC's! I believe in taking time to "smell the roses" & also SEE THE PACIFIC OCEAN every day! What a life!

Reply by Roger/Mich on 10/23/04 9:06am
Msg #10321

Re: What is considered a good month

Thank you. I guess my tax business will have to be my main source rather than my notary income. I just entered the business at the tail end. November 2002. At tax time I have to take a break because of the crushing crowds.

Reply by Bobbi in CT on 10/23/04 11:06am
Msg #10323

A good month ?

Too many variables for anyone other than your closest competitor to give you a good answer. I think having this as a subsidy to your tax business, taking what YOU can handle when you can handle it, is a good idea. It keeps you in the industry during the lean times so that schedulers still have your name and number during the upswing.

Variables that make answering difficult:
Interest rates combined with when borrower applied for loan; i.e., rates go up and borrower no longer qualifies or doesn't want to refinance (many I see now are lower monthly payment - rate is not an issue, struggling to handle debt and can't afford mortgage payment from 2-year old refinance).
Who needs a loan for what (home improvements, credit card debt payoff)?
Who has equity in home to refinance?
Who has income stream to qualify for new loan (too many debts already or can't get cash out of home to pay off other debts)?
What is fair market value of surrounding houses so that borrowers get $$ they want; i.e., can't refinance because borrower already tapped out on LTV and needs to bring cash to table to close.
Which lenders are marketing in your area?
Is refinancing worth it; i.e., missed the 4.00% fixed rate boat.
Unless circumstances changes, borrower who got the 4% to 5% 30-year fixed rate loans at 80% of the value of their home aren't refinancing or getting HELOCs anytime soon.

You can see just from these few variable why it's close to impossible for anyone to answer.
Death and taxes are a secure industry. The real estate market has high peaks and very low valleys. I never want to see 18% mortgage loan interest rates - no refinancing and almost no new construction and home purchases in my neighborhood during that time. 8% used to be considered good, now it's 6%.

Reply by Cindy on 10/24/04 11:09am
Msg #10389

Re: What is considered a good month

Love doing this type of work, but I live in such a rural area and the bigger cities have plenty of notaries and would be to far for me to drive. So I average only 5-6 signings per month. Cant give up the day job...

Reply by Julie-MI on 10/22/04 11:28pm
Msg #10315

Good question

Roger,

I've been in this business since 2001.

When I review my records from prior years I was making a lot more money than I do today. It's hard for me to answer your question, as I compare what I am doing in 2004 to 2002. I cannot continue to do this as 2002 was a different market, with less SA's than there are now.

For 2004, I average 60 per month. But you cannot compare my average to your average, because when I got in the business, not many SA's were out there. I have had 4 years of proving my work to my clients. Beginning this venture in 2003 is not as easy as it was in 2001. The most I ever did in one day was 17. I look back now and wonder how I did it.

Keep marketing yourself. Knock on Shore Mortgage's door--that company still does not offer home closings.

Reply by Loretta Reed on 10/24/04 9:49am
Msg #10383

Re: Good question

I would really like to know how you did 17 signings in one day, Julie-MI? There can't possibly be enough time in one day to do that unless the borrowers are coming to you or they are in the same town almost next door to each other.

Reply by Roger/Mich on 10/24/04 10:01am
Msg #10384

Re: Good question

Ditto, Loretta
I had three in one day and they were no where near each other. That alone kept me busy.
17 in one day at a minimum of 1 hour each is 17 hours of signing alone! Not counting travel time if that is what she did. Yes maybe they came to her. But 17 in one day is stretch of truth especially if the borrower wants to read the entire document which can consume up to and more than 2 hours of your time.

Reply by Tom_IN on 10/24/04 1:47am
Msg #10376

Re: What is considered a good month

I have a friend who claims to have done 130 signings in June of this year. She has an assistant who goes through the packages and proofs them and ships them. I'd really like to be able to do that, as all too frequently I need to head out to a signing to the north or east, but have to detour west first to hit Fedex or UPS.
About direct mailing. One problem is that there are literally hundreds of title companies out there who just DO NOT ever do out of town closings. You can save a lot of postage by siimply getting a huge mailing list somewhere, then call the title companies one by one and ask if they ever use mobile closers. If they don't, don't mail to them, or mail much more seldom. Someone much smarter than me reccommends that every day that you don't have a signing scheduled, contact two signing agencies or title companies.
In this regard, there are now several phone companies who will sell you a line (or two) for a fixed rate each month, with no long distance charges. This has lowered my long distance bill.

Reply by Nicole on 10/24/04 9:17pm
Msg #10420

Re: What is considered a good month -- MAINE

Trying to get a feeling for what this type of business does in Maine. Anyone out there in the Cumberland County Area?? Curious what a good month is like in the "way life should be" State.

Thanks!!

Reply by Jennifer Rundall on 10/22/04 9:16pm
Msg #10311

Thank you all for your input. I will be sure to check out the marketing books. All of your ideas has given me some great ideas on marketing. THANK YOU!!