Posted by ColleenCA on 2/7/05 9:37am
Msg #19608

Getting Frustrated

Help! I have been marketing myself "up the ying-yang" with only one call for a 40.00 signing, which I declined. I would like some advice on how long it took others on this board before they started receiving calls that met their fees and/or any calls at all. I have signed on with many SS's as well as Title/Escrow Co's and direct lenders. I feel that the fees I am quoting are reasonable, but not so low that I will take just anything to get the work. Should I be accepting work at a lower rate to build my business, or stick with a rate that is fair for a certified signing agent? Any advice on what to do next would be appreciated. Thanks!

Reply by Lee/AR on 2/7/05 10:04am
Msg #19614

Depending upon how much competition you have in your area...anywhere from 6 hours to 6 mos. Stick to your guns, fee-wise... or you will have to get a job to support your notary business. Once you 'work cheap', it's very hard to get them to pay you more.

Reply by Charm_AL on 2/7/05 10:06am
Msg #19616

you're probably in a saturated area, which may be the reason for a $40. request. Never accept anything under $50., (imo) it will undermine all of your fellow notaries in your area.
Keep signing up, I've seen where one registered with 300 companies, another took two years to build a good base, another says it takes 6+ months, another says people there won't re-fi unless they HAVE to, another says certification doesn't matter, etc....
I guess I got lucky, I'm not in a saturated area and I started getting calls right away. Also, we are coming out of our 'slow season'. January was dead until the last week and I got 3 requests. So far Febuary has been very slow for me, I didn't get one call last week! Keep registering, ....get with every company here that has a 3+ star rating. Every day when I have some time, in between being a supermom and superwife I make it a goal to sit here and register with at least 3-4 companies.
Good Luck!

Reply by ColleenCA on 2/7/05 10:31am
Msg #19617

Thanks to you both for the advice. I am in the Ventura County area of California and will take appts. in that area as well as some parts of LA County. I don't know if those areas are saturated or not. I have been signing on with at least 3 per day and am going to start a mass mailing to Escrow companies this week. Other then that, I don't know how much more I can do. But, I will sit and wait and hope and pray that something happens soon. Take care!

Reply by Debbietax_CA on 2/7/05 11:35am
Msg #19619

Colleen,

Chin up! I am in the Ventura County area too. I am listed on this site as a mobile notary only, and I have specified that I do not want to do loan signings, but in the past 4 months, I still received a few calls asking me to do a loan signing. I even had a broker who was not a notary call me to do the notary portion only of a loan signing, and he did the rest. I have no idea what the companies who wanted me to do the loan signing would have paid, because I turned down the work without negotiating a fee (I am a mobile income tax preparer, and I am not ready to move into loan signing, only basic notary services). I know there is some work out there, I can't tell you how saturated this area really is, but I know it is out there. Good luck!

Reply by Ted_MI on 2/7/05 12:20pm
Msg #19624

Colleen,

I wanted to respond to the part of your post where you inquired whether you should stick with a rate that is fair for a certified signing agent. I think that presumed advantage has to be taken in the context of how saturated your area is with nsa's. If there are a lot of nsa's conceivably you just can't charge a premium for being certified.

I agree with the other posters, though, that you were smart to reject the $40 dollar signing. Their suggested base rate seemed advisable.

Reply by CaliNotary on 2/7/05 12:45pm
Msg #19627

How long have you been trying to get work? And what is the minimum fee you'll accept?

Reply by ColleenCA on 2/7/05 1:23pm
Msg #19632

Hi. I have been trying since the beginning of November and my fees are 65.00 1st set of docs, second set an additional 35.00, emailed docs 85.00 and a cancellation fee of 35.00 (2 hours or less). These are the standard fees for my area. Too much?

Reply by CaliNotary on 2/7/05 1:42pm
Msg #19636

For a brand new signing agent in the heavily saturated area of Southern California? Yeah, I think those are too high. And the fact that you've gotten one call in 3 months probably backs up that theory.

Remember, when you're reading the messages on this board you're getting opinions from people all over the country. The signing agent market in central Iowa is not going to be remotely similar to the one in Southern California.

For a reality check, I'd suggest you look at the "find a notary" section on this board and see how many people are within a 30 mile radius of you. Also keep in mind that there are a lot more notaries out there who aren't listed on this site. I'm in northeast Los Angeles and when I put in my zip code I get 693 notaries in a 30 mile radius.

You're never going to be able to command the kinds of rates that some people on this board can. That's just the reality of the market we're in, and it's getting more and more crowded each week. I'd suggest taking $50 signings, $25 minimum for edocs (which seems to be the prevailing rate these days) and consider $25 for a second loan (also seems to be getting more common). And ditch the cancellation fee, you'll probably rarely collect on it anyway and it'll just scare off a lot of companies.

I'm sure some people are horrified that I'm suggesting these rates, but if you don't take them I can guarantee that there are 100 other people near you who will. We can complain all we want how these fees are hurting the industry for all of us, but that's part of being self employed. Some people are willing to work cheaper than others to ensure a more steady income.

You just need to decide whether you want several smaller pieces of the pie, or a slightly bigger, but much more infrequent slice.

Reply by ColleenCA on 2/7/05 6:49pm
Msg #19690

Yes, I quite agree, and in fact have fax'ed and emailed a new fee schedule to all of those that I have already signed on with. I hope this will work. I'll keep you posted. Thanks for the advice. I will also look and see how many notaries are in my zip code. That's a great idea, although I might find myself getting depressed if there are too many listed here. Plus all of the others out there. Thanks.

Reply by Susie/CA on 2/7/05 7:03pm
Msg #19693

1116 w/in 40 mi of me . . L.A. (San Gabriel Valley)!! :(

Talk about depressing!! :(

Reply by CarolynCO on 2/7/05 8:34pm
Msg #19701

**Should I be accepting work at a lower rate to build my business, or stick with a rate that is fair for a certified signing agent? **

If I'm reading your original post correctly, you have not done any actual signings and have only received one call for $40 that you declined ??? Also, I'm going to assume that your certification is with the NNA, because the rates you quoted in another post sound like NNA "certification" guidelines. IMO, without any signing experience, the certification doesn't mean much to SS's or even guarantee that they will call. I have been singing for a year now, and in that year, I think I've only had three (at the most) inquiries as to whether I am certified.

As Cali suggested, I agree that you should drop your base fee to a minimum of $50 -- but no lower. Also, I think I read that you are going to begin targeting title companies ?? I would suggest holding off doing this until you get at least 50-75 signings under your belt. SSs are more forgiving if you make a mistake.

Also, besides signing up with as many SSs as you can, I highly suggest you pay to have your profile listed on sites such as NotRot, GMN, 123Notary, etc.

Reply by Joan Bergstrom on 2/8/05 12:45am
Msg #19728

Have you signed up with this site as a premium member?
I get a lot of work from this site. Just a suggestion