Posted by jwpa on 10/21/04 9:03am
Msg #10202

COMPANIES EXPECT TOO MUCH(BEWARE)!!!!!!!

I got into this Notary signing business about 3 months ago and sometimes I feel that I don"t want to get any more calls for signings. I am an energetic type person that is willing to work
hard for anybody that appreciates what I do for them, and also be compensated appropriately
for my services. I have owned businesses in the past, but this business is the "Pits". I have done about 20 signings and at first was really surprised how fast the calls started coming in
once I signed up with a lot of different cos. Something has to be done to insure that all of us
Notaries get paid from these "Notorious" co's that want to pay you $50.00 for a signing that averages 3 to 4 hours total (if you add all your time traveling, faxing back preparing to ship package, logging entries, time at borrowers house, time to go over all doc's and on some, trying to figure out what they want on some doc's(and all co's have different doc's and procedures) plus Gas consumption and wear and tear on your vehicle.

The fee for an average signing should be at least $100.00 + extra for Edoc's, etc. I consider
this to be a Professional type business and all Notaries (especially new ones) should be AWARE OF WHAT THEY ARE ARE GETTING INTO.

I know that when I get calls and tell them I want $75.00 plus for a signing, that they call
another Notary as sone as they hang up, to do it cheaper and don"t know if they are going
to get "PAID"

Reply by Larita/MI on 10/21/04 9:36am
Msg #10208

Amen . . I feel the same way. When I first started it's nice to get all the calls that ranged from $50-$65, but time is money and right now, I don't hit my garage opener for less then $75 and even then it needs to be close. Before these companies starting using notaries they had to pay attorneys to do it and their minimum was $125+. So why should I settle for less. I get very frustrated at times when companies make it seem like we have nothing better to do then to babysit their loans for $50 that they wait until the last minute to process, plus wait all day for edocs. This is a business so I can't babysit my computer all day for $25. I will go bankruptcy in a month tops! Either get the docs to me by the cutoff or find some one else.

The problem though, is that they will usually find some weak or new notary who would be willing to do the job for $40 or $45. And then they claim, oh I needed the experience. BS! The only expereince you're gaining is how undercit your business. They are the very reason why companies like 24/7 and SOX are still in business. Then they want to complain later on as why to business has slowed down or why they can't get assignments for more then $50. That's because someone like them is doing the jobs and making the same excuses they made for taking it. They don't realize that they will probably not get more money from this company or any other company they are taking $40 closings with in the future because they are coded as a $40 notary. If the company has to pay more then that they will pay a more experience notary to do it, not you.

Just a thought. . .

Reply by nah_AR on 10/21/04 10:38am
Msg #10219

However charging more money does not make someone more "experienced" it just makes them smarter than the average bear.

Reply by Larita/MI on 10/21/04 11:02am
Msg #10221

True and I think the point being made, is "market yourself effectively both old and new". Don't work for free because the title and SS are compensated fairly and so should we.

Reply by Nd_WA on 10/21/04 2:09pm
Msg #10234

The way I look at it is that some people think $40-50 is what they are making based on the time they spent at the table with borrowers.

Reply by SFX_ca on 10/22/04 2:02am
Msg #10279

Hey there, I was reading about what companies expect and all and I myself am a new notary. NotaryRotary had me post a profile and in it they asked my fees. Some things I was unclear about(simply because I am new to this) and I was wondering if one of you kind souls might explain these to me? I also want to make sure my fees aren't too low and wind up undercutting people...

E-Docs Charge:
Copy Cost/Package: (up to 75 copied pp.)
Fax-back Cost: (up to 20 pp.)


Things I've already worked out:
Standard Fee: $50(w/in 15 mi. radius)
Cost/mile Extra:$2
(these too high, too low..?)

Many thanks!
-SFX_ca

Reply by CaliNotary on 10/22/04 2:21am
Msg #10281

$1.25 per mile seems to be a fairly standard amount used in here to calculate fees. $2 per mile is way too much for an inexperienced notary, especially in a saturated state like California. You don't want to screw yourself, but you do need to keep in mind that there are hundreds of available notaries for every signing job that comes up.

As for edocs, set a fee, don't worry about the number of pages. Some will be less pages, some will be more, it'll all average out in the end. You won't know the number of pages until the docs arrive and I can't imagine too many companies are going to be happy if you bill them for a higher fee than you quoted them.

Fax backs are a part of doing signings, don't charge for it. Some companies require it, some don't. Most of the signings I do don't require it.

Keep your fees as simple as possible. Don't charge for every little thing, you really only need to establish fees for the cities you'll travel to and a set charge for edocs. And in your Notary Rotary profile I would suggest that you keep it simple, something like "fees start at $50 for local signings".

Reply by Tess/ME on 10/23/04 8:08am
Msg #10320

Re: COMPANIES EXPECT TOO MUCH(BEWARE)!!!!!!! AMEN!

Have done a lot of Signings for Servicelink, I even defended them in a few negative postings on the board also they used to pay me fairly (on most)....Lately, however, finally got to the point where I had to request they remove me from their listings and I won't do any more. Fax backs...29 to one plus another 11 to a second number. Then make copies of the signed docs and put copies in a second UPS envelope and send to a different place. There were 95 pages of edocs plus borrower's copies to begin with AND faxed HUD, etc. All this was to be done after a 2:00 signing & get everything finished by 4:30 for pick up (after they ok'ed faxed info). They don't tell you everything they want anymore & try to get a really low fee for your work. They DO pay when they say they will if you mail in your invoice for the previous month. But when I did the last signing before I "resigned" the borrower had 2 dogs AND the dogs had fleas. Has anyone else ever left a borrower's home with fleas on your pant legs and shoes?????? O.K....can't blame them for the fleas, but the rest of it is getting out of hand with some of these SS.