Posted by Jan on 7/7/05 5:00pm
Msg #50371

New Agent

I'm a new loan signing agent, haven't had my first job yet, wanted to get all the ducks in a row. I went out to six businesses today....we'll see how long before I get my first job. I won't quit the day job yet. One company asked my fees and didn't like when I said over $100....I know I should stick to my guns right? Even if they don't call just stand firm and eventually I'll get my asking price? any comments appreciated

Reply by janCA on 7/7/05 5:20pm
Msg #50378

What exactly is it that you are charging the $100 for??? Overnighted loan docs, emailed docs?. Travel? You did not specify. And if you've never done any signings before, well, we all have to pay our dues when it comes to the fees. You have to prove yourself first. Have you signed up with any SS's yet? That's a good place to start, especially with loan signings. At least 200 of them and because of the saturation in many areas 300-400 would be even better. Just make sure that you know what you are doing, because once you screw up with a title/lender, they will write you off.

Reply by Stephanie_CA on 7/7/05 6:04pm
Msg #50386

Re: New Agent......$100 seems to be a little high if .....

you haven't even successfully even completed one signing.

My question is are you confident enough in your skills - at something you've never done to charge $100. The other response is so "right on". Is the $100 for overnight docs?
As JanCA has mentioned we allhave to pay our dues when it comes to fees.
I charged a lower fee when I first started - once I proved myself and I started receiving repeat business - I was able to increase my base fee.

Reply by jan on 7/8/05 12:17am
Msg #50491

The class I took, through notaryclasses.com said never to accept anything under $150,,,and they also said to NEVER sign up with any services......so I'm stumped.

Reply by anonymous-fl on 7/7/05 7:42pm
Msg #50398

we oldies often complain that newbies take away our signings for very little pay (as low as $40 or $50)
yet when someone new charges what we would normaly charge or close to it, everyone jumps through hoops and say, you must pay your dues my friend...
that makes no sense to me. I was a newbie, I would stick to my guns (of course if I feel prepared) and charge what I believe is right(as a matter of fact I did when I started and I have never accepted a $50 fee from any SS or TC, not worth my time). I would, though, as it was mentioned, to make sure I can do the "job" so that I don't get fried. (that starts with educating and preparing yourself, attending signings with someone with experience, etc)
If we all charge the same or higher there's a better chance TC,SS raise their fees as no one including newbies will accept their ridiculous fees.

Just MHO...

Reply by TitleGalCA on 7/7/05 8:17pm
Msg #50405

A very good point you make here, anon-fl.......

***If we all charge the same or higher there's a better chance TC,SS raise their fees as no one including newbies will accept their ridiculous fees.***

It would be up to the SS and TC to determine the quality of the person they hired - they have their 'no-no' lists, tests, telephone interviews, etc. The burden is on them to make sure they hire the right independent contractor to do the job.

At my first signing, I charged $125 for edocs, about 60 pages, and my travel time was 20 mins round trip. I knew I was prepared, my worry was did the SS pay on time!

Reply by SamIam_CA on 7/7/05 8:31pm
Msg #50413

What kinds of businesses were they?

Reply by Kauai Pam on 7/7/05 9:06pm
Msg #50421

Hi Jan. You can sign up with signingagent.com which is through the National Notary Association. Getting signed up with signing services on-line is the best way to get jobs, as that is where the other signing services look for notaries. There are so many signing services (which I call "notary locator services"), that you shouldn't lack for work once you get your name out there. You might also want to check signingagent.com to see how many notaries are in your area. If there is an abundance of notaries in your area, it will affect how many calls you get and you'll need to spend some $$ to join lots of agency like notary rotary on-line.

Most signing services pay $50.00 for a signing with an additional $50.00 for e-docs, and more if you have to travel a long way. As one of your other replies says, you'll need to become known in the industry before you can charge more than what is being offered. If you're the only notary within your area, you could probably charge more to start out, but you'll need to get your name out there (see above).

I'm also curious as to what experience you have in the document field such as real estate, escrow, lending institutions, etc. How familiar are you with loan documents? I'm pretty much it as far as signing agents go, on Kauai (Hawaii) and have 20 years experience as a notary, real estate doc prep, escrow, etc. and, believe me, when I went to my first signing, I was nervous so if you have very little experience, I'd suggest you get some training from the National Notary Association and, maybe even become certified. Once you're certified, you can pretty much set your own fees, and you should get even more calls.

I wish you much good luck as you begin your career as a signing agent.

Reply by Jan on 7/8/05 12:24am
Msg #50493

Thanks for the feed back. (By the way, I lived in Maui for 3 yrs, way back in 1976. Anyways, I am certified loan signing agent, was in law enforcement for 25 yrs. I've owned several properties and just read read and re-read the sample docs and my own past docs. Also have a friend here who will left me "shadow" with her whenever possible. I just don't want to degrade the field, but really do feel uncomfortable at this point asking $150. Thanks for the encouragement.

Reply by Ernest_CT on 7/8/05 4:36am
Msg #50519

Welcome, Jan!

First, please include the two-letter abbreviation for your state in the Author field of each post. It will help everyone help you by giving you advice/answers appropriate to your state.

Second, apply to signing services, not to title companies! You don't have enough experience to attempt to deal with a title company. It sounds as though you've done your homework, but if you approach a title company without experience you may never work for that company. Ever.

Most importantly, read all the posts on this Forum. Yes, all the way back to the beginning. You'll get a better real-world education than any course could give.

Best of luck!