Posted by BrendaTX on 10/3/05 1:04pm
Msg #68525

Think before you bid in rural areas - for SSs and TCs....

How can I get this across to good SSs (and many title companies) that I cannot stay in business if they will not pay me what I need to be paid to stay in business. If I go, seriously, there will be no one else for their occasional needs in many of the areas I service!

#1 - In my area, there is not enough volume for me to work for $50-65 for ANY type of assignment. Not the problem of the SS...or is it? If there is not a notary...that's a problem.

I cannot stay in business if I do not charge enough. Those who have undercut me no longer exist!!

My refi base is now at a rate in my county that's average. But in the rural areas it's more.

For Helocs, I charge more! (It's Texas - folks...know your market! Because yeah, venue closings are a PITA and are always unwelcome in my area - cannot get the venue to do them.)

Rev morts I charge a little more now...and...

The time/distance involved in going outside of my county jumps up thje price a good deal now. I do not want to be difficult, but have no choice.

#2 - I no longer allow my fee to be shopped. Why...because it is time consuming for me. It causes extra phone calls and extra confusion on my schedule. Not because I am afraid of losing the assignment. It's because shopping me inconveniences my own business.

If I get a call and quote $75, then if they say "let me call you back to get approval," I say, it will be $85 when you call back. I tell them to put me on hold and check and it works.

I am in business too, ya know? I realize this is not what SSs or TCs want to hear, but I am not here for a break even amount. I am here to profit. No profit...no Brenda and TexNotary covering the "Heart of Texas."

#3 In certain situations, I will NOT take a non-signing fee. For instance, going to a jail. If I go, I expect the full fee to be paid to me for my trouble. Good lenders like Wamu and Wells Fargo... NO PROBLEM - NEVER HAD A PROBLEM.

Now...if you could communicate to your lender and make them understand that there are NO NSAs IN MANY OF THESE RURAL AREAS I serve, they will allow a larger signing fee for certain counties. And, since 50% of my work is outside the county I live in, I cannot do favors any more and charge less. It's time to sink or swim...

How can I get this across to title companies and to those I serve for outside my county??

I am not afraid of going out of business because I don't get business or it's not there, but I will be darned if I will go out of business by taking jobs and going in the hole.

For those who take assignments to assign to notaries in the rural areas, THINK BEFORE YOU BID!!!

And, BTW, I love good SSs! Yes I do...such as LandAmerica, Asap Notary Pro Services, Superior Signing Services, Platinum Mobile, and many many other great SSs...but wanted to explain that a rural notary cannot do a SS a favor if they cannot profit a little on each job! We have to stay in business to keep your business going too.

Something to think on...

Reply by BrendaTX on 10/3/05 1:27pm
Msg #68538

Re: Think before you bid in rural areas - No offense! cont'd

A friend has written me that **there are good SSs who do not do the kind of things that you are describing and do not deserve to be treated like dirt when they call just because they are a SS.**

Oh my! I do not think that anything is wrong about what I listed. It's just a matter of one side vs. the other and what we all have to do to profit.

I have never fussed about a signing service charging to find me, and I do understand they have to get the best price. If I were better at paying bills I'd be an SS myself, but I am not so I won't be.

However, what my concerns are is about how can the SS/TC understand that certain things will make it impossible for me, a notary signing agent, to survive?


This was written to "come together and reason" not to point fingers and criticize!

Reply by Bonnie_CO on 10/3/05 1:36pm
Msg #68540

Re: Think before you bid in rural areas - No offense! cont'd

Brenda, I have to go with you on this one, I also do rural Colorado, and am amazed at some of the ss responses I get when I quote fees, ie; one wanted me to go 157 miles into the mountains (one way) for a whopping 75.00! No Way! They said ..."fine we'll get someone else" I said okay...Don't know who took that one. But with the cost of gas and the time that would've taken, 75.00 didn't even come close! I love some of the ss I do work for, they are reasonble, pay on time, and are great to do business with, but like you say, we are in business to make a little profit too....

Reply by BrendaTX on 10/3/05 2:03pm
Msg #68541

Re: Think before you bid in rural areas - No offense! cont'd

Thank you so much for your response Bonnie.

Last week I took a deep breath and raised my prices slightly. Like I have said, it is time to sink this boat or stay afloat. If the glove don't fit...you must ...nevermind...sorry, got carried away, but I digress... I am in a really good mood because things are shaping up again. Just while I have been here and posting today I have been getting calls and pricing myself better for this week. Did it last week as well.

I know this much, by raising my prices to a rate I can profit on a bit more comfortably and not just break even, last week and this week have provided a rate of income closer to what I have aspired to all along.

The volume is just not here for those in Texas and it is murder being full time without being astute about the price we must charge.

BTW, I have continued to provide the woman's name two counties over who has been my PITA and they are not calling her, or she's no longer taking them.

Reply by Giselle_CA on 10/3/05 2:17pm
Msg #68544

Re: Think before you bid in rural areas - No offense! cont'd

I am glad to hear that your business is shaping up again, Brenda. Everyone in business is in business to make a profit, to earn a living. It is ridiculous to work for no profit at all...unless it is a hobby or for charity.

Reply by CA_Jeanet on 10/3/05 3:41pm
Msg #68566

Re: Think before you bid in rural areas - No offense! cont'd

Thank you Brenda, for your post. I live in a rural area also, and am making decisions concerning my future in this business because of the low fees being offered and the rising costs of staying in business. I try very hard to stay competitive, but within reason. When those who are accepting $50.00 signings realize that they are (in some cases) paying the SS for the signing privilege, perhaps business will be just that...business. No profit, no business.

Reply by BrendaTX on 10/3/05 4:10pm
Msg #68579

Re: Think before you bid in rural areas - No offense! cont'd

You guys are welcome. I don't want to sound rude to the SSs and TCs but they need to know the market so they can understand they must bid higher or they will lose these jobs. I know people are hearing about gas, but it's the facts and it's finally gotten high enough to get even my attention. I don't like to think about the rising costs. Try to put a deaf ear to it.

I am off to travel to Washington County...it's always 28 to 68 miles away...even the town of Brenham can register like this on mapquest. I have a flat fee now for Brenham. No matter what it's quoted at 50 miles away. Sometimes they win, sometimes I do.

Reply by Linda_in_MI on 10/3/05 4:23pm
Msg #68584

Re: Think before you bid in rural areas - No offense! cont'd

I have to wonder myself just who some of these companies are getting for their assignments. I had a company call me last week for a signing the next evening. The conversation started off with “this looks to be only about 20 miles one way from where you live”, and ended with “we only pay $45 dollars for that area”. I had to bite my tongue to avoid laughing hysterically into the phone. I politely explained to the rep that although Mapquest only shows the distance to be about 20 miles, for about 15 of that 20 it is unpaved roads, and a part of the COUNTY—not city, but very very rural COUNTY, where directions are given more by “turn left at the cemetery” or “bear to the right at the fork in the road” rather than using roadsigns as references; at night you have to be careful to dodge deer, raccoons, or other night creatures. After quoting my rate I seriously think I heard her gasp, and then tell me “Your quote will be submitted, and if it is accepted we will contact you.” I didn’t expect a call back, and I wasn’t disappointed.

Reply by Lee_AR on 10/3/05 5:03pm
Msg #68600

Rural AR chiming in & agree with all that's been said, Plus

The ZIP code shown is ONLY the mailing address and the closest 'town'. These places can and ARE 10 or 15 miles away.... definitely nowhere near said town. And, please remember, you cannot go 45 miles an hour down a gravel road.

Reply by Ted_MI on 10/3/05 8:30pm
Msg #68644

Re: Brenda - a question

Hi Brenda,

In your original post, you indicated that there certain situations in which you would not take a non-signing fee. And then you mentioned going to a jail as an example. Just out of curiosity what other situations did you also have in mind?

Reply by BrendaTX on 10/3/05 9:58pm
Msg #68659

Re: Brenda - a question - Ted...

The jail is because it's such a hassle to get there.

I would not take a no-sign fee in a sub-prime cash out...especially w/ edocs.

Helocs where I have to go to a title company.

Most of my jobs are for really good lenders who don't pull surprises. If there is a no sign on one of my usuals, I'd be glad to take a no-sign fee...except they don't seem to expect me to. That's a clue to me that those who put no sign fees up front expect them.