Posted by KarenCA on 5/4/05 6:53pm
Msg #35850

I just turned down a signing for $55.00 in Thousand Oaks

I really could have used the money, however having done a number of loan signings at this point, it just doesn't seem worth working for this amount. Usually these kind of folks also need to be chased for payment.

I found out just a few minutes later, that my neighbor, also a notary, turned down the same signing offer at the same price for the same reason.

I did this for all of us and I think you all know why. Please give me a cheer as I need one right now.......
KarenCA

Reply by Dave_CA on 5/4/05 6:57pm
Msg #35853

You've got my cheer and thanks as well.
If enough of us turn down the really low pay and slow/no pay services perhaps they will fail.

Reply by KarenCA on 5/4/05 6:59pm
Msg #35855

Thanks Dave, and also please hang with me on this issue. I know my neighbor also refuses this stuff.

When you think of our liability, equipment costs, GAS prices, etc, it is just abusive to expect professionals to work for this amount of money.

Today I'm chasing two companies for payment from mid March. I'm so disgusted.
KarenCA

Reply by Al Takem CA on 5/5/05 9:14am
Msg #35952

Thanks for turning down...someone will take them. I set a minimum of $30.00, which is a good rate for what we do (sit, watch someone(s) sign their name, and notarize about 5 documents)--- I hope Chimps dont replace us.

Reply by PAW_Fl on 5/5/05 1:13pm
Msg #36023

If that's all you do, then you don't even deserve $30. There is more to this than just watching someone sign their name.

And, you're right, chimps won't replace YOU as you haven't attained that level yet. However, I am thinking of you as an equus asinus. So, are you a "Jack" or a "Jenny"?

Reply by SamIam_CA on 5/4/05 6:58pm
Msg #35854

GREAT JOB AND A BIG PAT ON THE BACK!!!!!!!!!! n/m

Reply by Ali-IL on 5/4/05 7:00pm
Msg #35856

I just got a call from a company for a 1st and 2nd and faxing back of all notarized pages and til for $75!

There excuse was that it was in my town

Reply by KarenCA on 5/4/05 7:02pm
Msg #35858

This signing was in my town as well, however I find it's usually the low fee loans that cost me the most headache and then I wish I never did the loan to begin with.
Borrower doesn't like the terms, errors in the docs, company wants faxbacs they didn't initially tell you about, etc....it goes on and on. With $55, I feel like I'm begging!
KarenCA

Reply by KarenCA on 5/4/05 7:06pm
Msg #35859

Did you do the job for that fee?????

Reply by Ali-IL on 5/4/05 7:08pm
Msg #35862

No.

Reply by KarenCA on 5/4/05 7:10pm
Msg #35863

Cheers to you too Ali!!!

Reply by SarahBeth_CA on 5/4/05 7:14pm
Msg #35864

Re: Cheers to you too Ali!!!

holy cow it's amazing that they even had the nerve to offer such an obscene fee. I don't know if I would laugh, scream, or just hang up. So basicaly if anyone one does take that they would end up with what about a buck an hour after expenses. Hope you yelled "Heck No".

Reply by CarolynCO on 5/4/05 8:01pm
Msg #35877

**I just got a call from a company for a 1st and 2nd and faxing back of all notarized pages and til for $75!**

Was this quote for e-docs or overnight? For a first and second, $75 is not nearly enough whether overnight or e-docs, but I'm curious.

Reply by Ali-IL on 5/4/05 8:04pm
Msg #35878

sorry, forgot to say they were overnites.

Reply by To CarolynO on 5/4/05 9:28pm
Msg #35902

It was overnight. But SS couldn't tell me how many pages (thought something was fishy there) and there were two signers - losts of potential for incorrect deed, misspelled names, etc...... It's just not worth the grief.

Reply by ERNA_CA on 5/4/05 8:16pm
Msg #35881

Good for you Karen.

Reply by Lee/AR on 5/4/05 8:27pm
Msg #35889

Hooray for you! And your neighbor, too!

I have found that turning one down frequently results in another better one coming along for the same time frame. Not always. But it happens often enough to make up for 'the one that was too cheap and you threw back'.

Reply by UNKNOWN on 5/5/05 12:01am
Msg #35916

Re: Hooray for you! And your neighbor, too!

What opertaing expenses due you incur when doing a closing in your own city when the docs are overnighted? You already have your book your bond is already paid for and so is your stamp so besides the 1/4 of gallon of gas and 30 minutes of your time if you know what your doing what expenses are you talking about?

Reply by ERNA_CA on 5/5/05 12:16am
Msg #35918

Re: Hooray for you! And your neighbor, too!

You set your bottom price and stick to it. Signing services get anywhere from $170.00 to $225.00 for overnight doc's sometimes more. So everyone has expense's, expense's and profit sharing should be fair in my opinion.

Reply by Charisma_CA on 5/5/05 10:45am
Msg #35974

Re: Hooray for you! And your neighbor, too!

$170 to $225? I am associated with quite a few SS's on the business end of the deal and believe me, they do not get $170 to $225. $100 to $150 base fee is more like it, if they want to stay in business.

Reply by sue on 5/5/05 7:41am
Msg #35942

Re: Hooray for you! And your neighbor, too!

oh my, here we go again. insurance (notary & sa E&O, health, disability, higher auto & ho)
communication costs (business phone, cell phone, fax line, high speed dsl, e-fax, top of the line laser printer, decent computer - including backup for all of these)
misc office supplies (paper, toner, ink, folders, pens, clips, postage, tablets),
vehicle expenses (adding 30,000-40,000 miles a year -translates into a new car A LOT sooner than if we had a 9-5 job, MONTHLY oil change & bi-monthly tire rotation, tolls, AAA, car rental when vehicle is in the shop)
advertising (listings, give-aways, client gifts, business cards, labels, pens, brochures)
retirement
professional fees (CPA & yearly meeting with attorney)
document shredding
Christmas tip for UPS & FE & MBE employees
copies at MBE
computer/printer repair

All these add up to A LOT of money over a year.

I've got to have enough money set aside for the times when I'm not out making money but am being VP of marketing, receivables, collectibles, human resources, etc. I've got intangibles such as being on the road A LOT and more exposure to auto accidents. I've always got the 'risk' involved with potential law suits in this business.

Oh one more thing - I'm a BUSINESS so I've got to make a profit, not just my hourly rate.

Reply by PA Notary on 5/5/05 8:35am
Msg #35947

Re: Hooray for you! And your neighbor, too!

Unknown should change his/her handle to 'ignorant'....yay sue & karen...you GO girls !!

Reply by Select Processing Servivces - Southeast Michigan on 5/5/05 5:05am
Msg #35932

Hip hip hooray! If all us turned downed these "not worth our time" signings, the business would be a lot more profitable for all SAs/notaries. Thanks for having the "stuffing" to say NO and mean it.

Your time and expertise is definitely worth more than a measily 55.
Markita

Reply by Victoria/FL on 5/5/05 8:48am
Msg #35949

Hip-hip Hooray!! I did the same thing twice this week. n/m

Reply by anon FL on 5/5/05 9:19am
Msg #35955

See Al Takem for OPPOSING VIEW

He thinks $30.00 is a good rate and hopes Chimps dont replace the simplistic work we do. Have to admit I was thinking the same about us being replaced (Chimps may be too high up the tree however...maybe Lemurs...)

Reply by PAW_Fl on 5/5/05 1:17pm
Msg #36025

Re: See Al Takem for OPPOSING VIEW

So, I see you are into answering yourself. Deja Vu all over again. (Does the name Korey ring a bell?)

Reply by Alice on 5/5/05 12:13pm
Msg #36008

You are assuming that the company is not going to pay. Unless you have worked for the signing service before and have some idea about their paying history..you never know. There is no sure fire way of knowing whether a company is going to pay or not. You are aware of that because you are trying to collect on 2 other signings now.

Also, you are assuming that it was going to be a bad closing (borrowers don't sign or other issues), when you don't know. Just because the SS is paying $55 does not mean it's going to be a closing that falls through. I've had situations where lowering paying SS pay promptly. Some of my jobs I get paid a good fee and some of them have been easy others have been a hassle.

I try to be flexible on some jobs. If it is a SS that I've worked with and they pay me on time. I will take a $50 from them. That is if it's in my town and it's a single loan. Sometimes if it's a new company I'll take a $50 depending on the circumstances or if I'm really busy or not. I won't take under $50 though. I try to weigh the entire situation of how my business is going. If I'm busy then no I may not take the $50 job. It's not an exact science on how much work you do for each job and how much expenses are for each job.

If you been in this business for a while and are well established and your business is going well, then sure turn down the $50 jobs. However, if you are still relatively new in the business or business has been slower then normal (which it has been for me) then I won't thumb my nose at all the $50 jobs. I try to stay flexible and see what the overall picture will be. Actually, last week Wednesday I did a $60 local signing. Then two days later I got an assignment for a last minute job that was closer in distance to the $60 and it paid way more then $60 for less work really! For me if balances out.

Turn down jobs because you really don't need them or for other reasons that are helpful to you, don't turn them down thinking you are hurting the Signing Service (because they will surely get another notary to do it) or helping the notary industry. You don't help us by hurting your own business.

Reply by Teresa on 7/2/05 11:30pm
Msg #49662

I just spent the last twenty minutes reading all of the replies to the original message. I just want to thank everyone for the information. I am new and have yet to do a signing. I was really struggling with the pricing. I assumed that everyone signed up with $50 companies because that is what they pay. I have signed up with about 10-15 companies so far and I don't think any of them pay more than $65. If you don't accept a $55 assignment because it isn't enough, then what is an acceptable amount? I don't me any disrespect in that question. I am asking because I honestly don't know. I am in a rural area and there are not a whole lot of notaries around here. So I am trying to figure out what is being "taken advantage of" and what is not in my situation.

Thanks for any information!

Reply by BrendaTX on 7/3/05 12:39am
Msg #49664

*I am asking because I honestly don't know. I am in a rural area and there are not a whole lot of notaries around here. So I am trying to figure out what is being "taken advantage of" and what is not in my situation.*

Teresa, I have a similar situation in my area.

If you want to email me, I will tell you how I handled this. I did my first signing in Feb. '04.