Posted by Anonymous on 10/19/05 9:12am
Msg #71161

Why I do $50 signings.

I do $50.00 signings. I am retired. I already have a computer, internet access, a printer and a car. The car and printer might wear out a bit faster, but I already own them so they are depreciating some anyway. In other words, they are largely sunk costs because I am going to have those devices anyway. Thus, I have some added wear and tear and some consumables. I make some incremental money. Meet nice people. Buy my grandkids birthday and Christmas presents. Many people here complain. Send the $50.00s my way!

Reply by JD_inMD on 10/19/05 9:17am
Msg #71164

If I did them for a leisure time activity or just to have a little extra cash I suppose I wouldnt mind a whole lot either. I do like the higher end signings though so after all is said and done I can eat too.

Reply by BLE/MD on 10/19/05 9:18am
Msg #71165

You don't realize how your decision to do $50 signings is affecting the way the rest of earn our living. I'm not retired or just doing this to "buy gifts" for anyone. I'm a professional who is in the business to earn a living. Don't expect a pat on the back from me. Your attitude is rather insulting to those of us who don't view this as just a way to pass time.

Reply by Anonymous on 10/19/05 9:24am
Msg #71171

is it O.K. if I send you all my anonymous closings? TC's and SS's and borrowers are all anonymous, but if this is 'just' your hobby, then you shouldn't care anyway.

Reply by S_LPVA on 10/19/05 9:50am
Msg #71180

BLE/MD - I totally agree with you. I too do this for a living and it's a profession I chose because I am in good at it. I wish I could do it for leisure and not have to worry about the costs of living.

I also will do a $50 signing, but those are the ones where nothing much is being done by me. The borrower already has the docs...All I have to do is show up, tell them where to sign, notarize and send them on its way via overnight carrier.

It is rather insulting to those of us who don't view it as a way to earn "extra" cash, rather as a way to make a living.

Reply by Anonymous on 10/19/05 9:22am
Msg #71169

You do not realize that not everyone does this as a full time occupation. You can higher a $100 an hour laywer to file your divorce papers or a $500 an hour lawyer. You can stay at the Comfort Inn or Ritz Carleton. My required rate of return is lower than yours. In other words, in a commodity market, you cannot hold up the price. Hmmmm....was the author an economics professor?????

Reply by BLE/MD on 10/19/05 9:25am
Msg #71172

You've got to be kidding. Not we're in Econ 101? Really now. To offer a competitive price is golden, reverse price-gouging is not.

Reply by PA_Notary_II on 10/19/05 9:31am
Msg #71176

Why do you even bother to come on this site and flaunt your meager earnings ? Do you want to aggravate other hard working Notaries...are you looking to pick a fight ? I fail to see why you would even post something so stupid....do you really expect any of us to refer business to you while you post as Anon and just come on here trying to get someone's goat?? Why don't you pick a website where the addle brained go just to argue with each other....you, my friend are a 'lame brain'

Reply by Anonymous on 10/19/05 9:28am
Msg #71173

if we knew who you were we could send them your way.

Reply by BLE/MD on 10/19/05 9:30am
Msg #71174

Perhaps I could send you all of the loser signing SS. You can quote $50 and spew Economics garbage and hope to collect!

Reply by Frances MacDonald on 10/19/05 9:34am
Msg #71177

I probably shouldn't weigh in on this one...but... I will do a $50 signing IF it's O/N docs and the borrower lives within 5 miles of my location. Fortunately, I've been able to turn down many of these because I stay busy doing higher paying signings. But, someone here had a good point a few posts ago...if you do (3) $50 signings per day, you're doing pretty well. I guess it depends on what figure you've set your net hourly rate at....meaning, when it's all said and done..are you willing to work for $20 per hour or are you standards higher. JMO

Reply by Art_MD on 10/19/05 10:10am
Msg #71184

Re: Why I don't do $50 signings.

If total time including printing order, contacting borrower is 15 min.
If time to get to borrower is 15 min each way = 30 min
if signing takes 1 hr
Fax back, record keeping, prep package is 15 min
no time allocated for dropping package - 0 min
Total time is 2 hrs.
If 10 miles each way = ~$10 vehicle cost
If cost of overhead (cell phone, printer cost, internet cost, paper) = $5/signing
if maintaining bond, commission, etc = $5/signing
Total costs = $20
net = $30 or 15.00/hr.
take out SE tax --> net is $12.65/hr


IF distance is 20 miles each way, cost increase $10, time increase 30 min total
net is now $20 for 2 1/2 hrs work

rate per hour is $8.00
take out SE tax -->net is $6.75/hr

Not very profitable...

Art

Reply by Delta_CA on 10/19/05 10:04am
Msg #71182

Congratulations, Anon
You have succeeded in inflaming a bunch of serious notaries. Why are you even on this board if not to get your kicks sticking it in our faces? You must have a pretty dull life on about the same level as your grammar and spelling (skills?).

Reply by LawrenceOK on 10/19/05 10:15am
Msg #71185

I too am retired and I worked 30 hard years to get that way. My only purchase coming into this business was insurance, commission and bond fees. Everthing I own is also paid for, but that does not mean I am going to do $50 signings. Even retired I am worth a hell of a lot more then that.

Reply by LawrenceOK on 10/19/05 10:24am
Msg #71187

And I should add for the rest of you, that I DO NOT do this part-time. I still have 20 good years left in me to put to this professional as well.

Reply by Anonymous on 10/19/05 10:24am
Msg #71186

You don't think your worth much and maybe you'r not. You proved your own point.
Hope you get all those non paying S.S. If we knew your name I could send all the non payers to you since you do this for fun.

Reply by Frances MacDonald on 10/19/05 10:53am
Msg #71192

GEEZ...................

"Live and Let Live" folks. I don't begrudge anyone for trying to make an honest living whether they make $8 per hour or $200 per hour. One of the first $50 signings I ever took turned into a very profitable client. After doing several for this particular SS, they realized that I'm very efficient and experienced. They also realized that I have a 100% close rate. They now pay me the fee that I set but I don't gouge them as I appreciate thier business and professionalism.

A $50 signing within 5 miles of my location, 10 miles or less roundtrip, overnight docs, total time spent at 1 1/2 hours, nets me $20.00 per hour. Averaged out, that is $41,600 per year. Edocs are an entirely different matter. I can't do a Edoc signing for $50 and turn them down regularly

Reply by SarahBeth_CA on 10/19/05 10:59am
Msg #71193

So when your printer dies the first week of December and you have to replace it how many signings is it going to cost to pay for a new one at $50 a pop. Let's go with Art's math on this one for signings within 10 miles and a printer costing $399 (HP 1320 from Staples). 399 divided by 12.65=31.54 signings to recoup the cost. Looks like there goes the grandkids Christmas presents. Oh and I didn't even figure in the taxes on the printer in the calculation.

Reply by Art_MD on 10/19/05 11:09am
Msg #71195

Re: sarabeth - math error.

gross for 10 miles is $30. So would be 13 signings for a new printer.

Art

Reply by SarahBeth_CA on 10/19/05 11:17am
Msg #71197

Re: sarabeth - math error.

oops I was using the per hour number. See what happens when your pressing for time. I'm going to my sons school in a couple of minutes. But still 13 signings as a part timer would still mean bye bye to anything decent for the grandkids (especially in my family, together we have given our in-laws 9 grandkids).

Reply by PattyTX on 10/19/05 11:02am
Msg #71194

In this world, face it! Time is money. And I personally have no time to waste either. Gas prices are not getting any better, or at least not by much. It would be nice if we could all do this just to buy gifts for birthdays and what have you, but not everyone can do that. We take this career seriously. This may be a nice passtime for you Anon, but people on this website are good people. They work hard for what they do and what they earn. And people like you take away from the quality and service that they have to offer. The people on this website are out to help each other and learn from each other. They have something to offer. Please avoid your comments on this forum if you have nothing to offer except a headache.

Patty, Texas

Reply by Frances MacDonald on 10/19/05 11:33am
Msg #71198

I have a 21ppm dual tray laser printer. I can print two copies of mtg docs (240 pgs.) in 15 minutes or less. Toner/paper expense is $5.75 per signing. Printer cost me 150 bucks. It has a one year full warranty. That's one signing per year. Which is my same "take" on paying to advertise on signing directories like this one. One signing per year pays for my premier membership on NotaryRotary. Very good value. But, the $50 signings I discussed are for overnight docs only. Fed Ex is 2 blocks from me and usually the guy is nice enough to stop by and pick docs up.

Reply by Jacqi Shifflett on 10/19/05 11:39am
Msg #71199

Like my grandmother used to say..... For every seat there is an ass...... interpret that however you choose.

Reply by Anonymous on 10/19/05 1:30pm
Msg #71211

Hi I am a notary from AZ and just had this discussion with another notary. Besides all the good points people have made there is one major point in my book. We have to set a standard!!! I have not been able to justify printing docs, the signing, driving 20 miles, etc for $50. I am committed to to not under sell myself and hopefully contribute in helping setting a standard to what we are worth.

Reply by newlysmomva on 10/19/05 3:39pm
Msg #71238

I'll take one close to home w/o edocs for $50. Money is money and I'll take it anyway I can get it. I'm not competing with any of you cause I'm so far out in the sticks.

Reply by Brenda Miranda on 10/19/05 4:33pm
Msg #71247

I for one do this full time. This is not a hobby, a freebie, etc, this is a business. For all of you out there taking jobs for $50.00, your reasons, locations ,etc do not justify accepting $50.00. And yes you are competing with everyone out there, because there are a lot of companies out there that would rather pay for cheap work, than quality work. Once these companies know they can get cheap labor, they will use it because it means more money stays in their pockets, even if they take a gamble on the cheap labor screwing up the signing. And, what kind of gifts could you possibly afford to give your grandchilren, after the cost of ink to print the docs, the gas in your car it takes to get to and from the appointment, the time you spend at the appointment, taking the time to drop off the documents at Fed Ex, the stamp to mail your invoice. I would say you just worked for free. I myself have six granchildren, so please don't blame being cheap on being a grand parent. If you feel that you are only worth $50.00 then perhaps you should take a minimum wage job at a retail store or something. This is going to turn into another profession that is ruined by cheap labor.

Reply by Nathan Ellsworth on 10/19/05 6:07pm
Msg #71267

I also don't think that you can make the assumption that people who do closings for $50 do poor work.

Reply by BrendaTX on 10/19/05 4:36pm
Msg #71250

Re: Why I do $50 signings- newlysmomva

**I'll take one close to home w/o edocs for $50. Money is money and I'll take it anyway I can get it. I'm not competing with any of you cause I'm so far out in the sticks.**


If you are that far out in the sticks, nothing is close enough to take for $50.

Reply by SusanOH on 10/19/05 5:40pm
Msg #71261

Re: Why I don't do $50.00 signings

I have to jump in on this one. Rarely have I had an SS that has called me with a $50 closing that was w/in spitting distance. That being said and I've said it before a few weeks ago, you folks that are taking these $50 closings are not making the money that you think your making AFTER you figure in expenses. I had a call today from a very well known SS that wanted to know if I wanted to start doing closings again for them, naturally my question was "what do you pay?" He replied $50 for overnight $75 for edocs. And I replied " you've got to be kidding me right? your kidding.. " I have been really slow this month but even so I am not going to work for fricking nothing. And $50 closings is pretty close to working for nothing. My father used to have a company( he is since retired) but I learned from him that you always take a job and make a profit when your self employed. He would say to me figure in what you want your hourly rate to be and go from there. Well I have and it's a heck of alot more then 50 bucks pays. My experience, attention to detail, the way I deal with the borrowers and returning error free work is worth more then that. I'm in this to make a living, it is not some stupid hobby for me, and I'm in this for the long haul. I also don't have the patience that is required from most of the SS's that only offer 50 bucks and then make you jump through all kinds of hoops to get the a simple closing done and then hopefully get paid.
To the original poster of this thread I think your just plain ignorant. End of rant.....

Reply by Shelly_FL on 10/19/05 5:59pm
Msg #71265

Re: Why I don't do $50.00 signings

What I am trying to understand from our original poster is, why not ask for the $60 or $65 dollars her time is worth? Then, take Johnny to McDonalds on your way home from Toys R' Us.

It would only take 4 signings out of 5 to more than make up the lost $50 assignment you chose to refuse. Give it a try! PLEASE!

Reply by Nathan Ellsworth on 10/19/05 6:04pm
Msg #71266

Re: Why I don't do $50.00 signings

I will start by saying that I have not done a $50 closing in years. And this is my second job. However, $50 companies are not going to leave because clearly people are willing to do the work. I also don't believe that there is $20 worth of expenses for a closing that is 10 miles away. I believe this is a profession, but I also know there are very few barriers to entry. This lack of barriers means you will have a constant flow of competition from other full time Signing Agents, and part-time people like myself and hobbyist. I don't think you can change that, and I am not sure what motivated the original poster to post. I assume he is looking for some entertainment

What probably needs some analysis is the difference between what we as Signing Agents get paid for the service we perform (printing doc's, driving to closing, notarizing, possibly faxing back, and more) and what the Signing Service gets paid for the services they perform.