Posted by Tony (FL) on 1/11/05 4:48pm
Msg #16256

Posting of Fees in your profile

How do most of you post your fees in your profile when there are usually differences for signing services vs title companies or lenders?

Reply by Charm_AL on 1/11/05 4:55pm
Msg #16257

My standard fee is for signing services, since there is only one line and that's who would be most likely to call. I will negotiate the standard fee first when the call comes depending on what type of company it is.

Reply by Bobbi in CT on 1/11/05 5:58pm
Msg #16260

Base fee

When I do post my fee it is a "base" fee for a paper package delivered to my home office door. All other fees vary based on lender (size of package), location (round-trip-distance traveled), and time of signing (1 day's notice, 1 hour's notice), and other services required (fax back to two different toll numbers, separating packages, copies, calls, etc.). It takes experience to get your fee schedule to where you want it; i.e., you win some and you lose some. Each signing that you do will give you an idea of whether your fee for those particular services was too low or two reasonable. This is your learning curve for the next time you receive a call for a like signing.

My fees are the SAME for signing companies, title companies, lenders, and who ever will pay that fee. As long as the check clears, I charge signing companies and title companies the same fee for the same services.

One wonders: Did title companies start deciding to reduce their fees when they discovered that some Notary Signing Agents will do the SAME work for a lower fee if the scheduler states they are calling from signing company?

Reply by PAW Notary Services on 1/11/05 6:19pm
Msg #16262

Re: Base fee

Me too! I have one set of fees. If the caller doesn't like them, oh well, find someone else. I don't see any difference in what I'm expected to do, no matter if the assignment comes from a signing service, title company, escrow company, settlement company, lender or the President of the United States. It also makes it very easy to quote a fee when you really don't know who you're talking to (like when your driving in noisy traffic, or, in my case, with the top down and the wind blowing in my hair).

Come to think of it, maybe I should charge MORE to signing services. They're they ones that want all this 'n that faxed back and make us jump through hoops, calling them every 10 minutes or being called by them to see what we're doing.

Reply by HisHughness on 1/11/05 6:41pm
Msg #16264

Re: Base fee

There is a place for signing services in this business, and there is a place for a fee hierarchy. The signing service is just that for title companies: a service. Much like a retail business that does not want to be in the real estate business and thus leases its buildings, rather than tying up capital in real estate, many title companies want to focus on their core business and not tie up staff maintaining databases of signing agents and tracking agents down when needed.

Title companies understand that if a cut of their fee goes to a signing service, then the signing agent is justified in charging a lower fee to the SS in order to ensure a steady flow of clientele business. This is no different than hundreds of other such business relationships, from the road contractor who rents safety cones from a company that does nothing but supply such items to a discount pharmacy that buys directly from a pharmaceutical company to the rural grocer who goes to Sam's Club to buy cases of sodas that he then sells for a much higher price to his customers who have limited access to retail outlets. The middleman has a long and honorable history in the conduct of trade. And I'm prepared to operate with that commercial context in order to ensure that I have a steady flow of business.

Reply by BrendaTX on 1/11/05 7:15pm
Msg #16269

Re: Base fee

231 Words

Reply by CarolynCO on 1/11/05 7:34pm
Msg #16271

Re: Base fee

**Did title companies start deciding to reduce their fees when they discovered that some Notary Signing Agents will do the SAME work for a lower fee if the scheduler states they are calling from signing company?**

Interesting thought Bobbie!

Reply by LawrenceOK on 1/11/05 8:04pm
Msg #16275

Re: Base fee

The fees that I state in my profile that the companies can see is a base fee for my county only.

Reply by sue on 1/12/05 11:26am
Msg #16378

Re: Base fee

...One wonders: Did title companies start deciding to reduce their fees when they discovered that some Notary Signing Agents will do the SAME work for a lower fee if the scheduler states they are calling from signing company?...

of course they do. Immediately coming to mind ILS, LSI/CA, TU - all pay their direct notaries the amount they'd get from a signing service while they are willing/have paid signing services a higher fee.

and the trend continues to spiral downward as so many join this business having no idea the difference between a title company and a signing service

Reply by Julie-MI on 1/12/05 6:30am
Msg #16344

To answer your question, I do not put my fees in my profile!

All I want is the initial call and I will make my fee determination at that time. I don't want to seem to high or too low with my competition.

Additionally, I have not had any new companies call except Siranni from my 123 listing. Business is steady, I don't know that I want to incur non-payment issues with new companies.