Posted by MagicLadyCA on 12/30/05 5:50pm
Msg #85339

Low Ball competition

My fee for a signing in my area is $75 and $25 for edocs. I cannot tell you how many signings these last two months that I have lost to someone in my area that is obviously taking them for $45 and $50. Three years ago, I was one of about six notaries in my rural Northern California county and I got $100 to $125 for a signing. Now there are over 15 notaries in the area and I am lucky to get $75, and, as I said, sometimes ZERO, when the agency says they will have to get my $75 approved and I never hear back.

Sorry for venting, I just needed to whine to someone..........

Reply by Anonymous on 12/30/05 5:54pm
Msg #85341

It's a really good thing to vent about. Low Ball notaries and SS are the prime reason this profession is going down the tubes.

Reply by Calnotary on 12/30/05 5:55pm
Msg #85342

I started doing signings back in March 11, 2005 and since then there are more than 100
notaries in my area, and only in NOTROT, not counting 123NOtary, etc.

Reply by peterole_MN on 12/30/05 6:01pm
Msg #85345

Hang in there, the cheapies will soon be out of business unless they win the lottery.

Due to price of laser toner and the size of loan pacs, I have raised my edoc fee to $35 for one loan. $25 for the 2nd loan.

HAPPY NEW YEAR!!!

Reply by MagicLadyCA on 12/30/05 6:57pm
Msg #85351

Thanks guys. I really feel better now. My husband said to be patient and all the "chaff" will blow away....hope so!!

Reply by JanetK_CA on 1/2/06 12:19am
Msg #85558

Unfortunately, there's another new crop every month. (If it makes you feel any better, there are 687 people registered on this board within 20 miles of me.) The sad part is that they then are here posting that they can't seem to get any work because agencies want experience (in spite of paying poverty wages) or they can't afford to promote themselves due to all the money they spent getting set up.

I think your husband makes a good point, though. During any slowdown (which is what we are in with all the increases in interest rates), lots of house cleaning takes place. We'll see a lot of fallout also amongst the ranks of real estate agents and loan originators. The pros are the ones who are most likely to survive, but we might not ever again (or not for a very long time) see fees across the board as they used to be a couple of years ago.