Posted by MissyNV on 9/9/05 11:22am
Msg #64342

what to charge title co

I am always a little nervous about asking for the big bucks when talking to the title co. What routinely to you all get paid from title. I only ask for $150, but know that I am cutting myself short. I am not new at this, but no good at selling myself.

Reply by Art_MD on 9/9/05 11:27am
Msg #64343

There is some dependency on territory.
I cover all/parts of 6 counties. One group is fixed rate, regardless of manner of doc delivery, 2nd group is another rate - because of distance/time involved.

$150 for close to home is fair. Further out, a higher rate is justified.

I imagine determining a break point for rates can be tough if a county is 100 miles fronm one end to the other.

Art

Reply by MissyNV on 9/9/05 11:31am
Msg #64344

I was just wondering, because of the fees that I see on the loans, they vary from $150-250. If the signing co. can get this why can't I?

Reply by Art_MD on 9/9/05 11:34am
Msg #64347

What they charge is not always what you see. I've seen the fee for closing on the HUD lower than what I was paid. They probably put just anything there. They list fees in enough different area that they get their money one line or another. Also, there is some work you don't see that is involved.

Art

Reply by Roger Rill on 9/9/05 11:31am
Msg #64345

It's your business, you can charge whatever you want. Whether your fee is accepted, though, will rest with a number of variables; your experience/expertise, relationship with the company, area of the country, amount of local competition, etc.

If you read the boards, you will see that in most instances asking $150 from a title company for a single loan, overnight package with reasonable travel is not "cutting yourself short".

You may want to consider some of the books on marketing your business that are available.

Reply by MissyNV on 9/9/05 11:51am
Msg #64351

Thanks for all the advice. I have been very busy, making more money than I every had in a 20 year career previous. Thing I have done twice is get a call when I am driving and not understanding it was a title co. and low ball the fee. Learned to pay attention to whom I was talking to.

My average per signing goes up every month!

Reply by Kiso on 9/9/05 11:53am
Msg #64353

good for you, best wishes to all

Reply by MissyNV on 9/9/05 11:59am
Msg #64356

fun comparison to being single

having been single for a long period in my life, now married. I compare this business to dating. When the phone doesn't ring, you think it never will again, no one loves me. Once it rings once, all of a sudden everyone loves you, and you are having trouble juggling all the dates.

Reply by Sara_NV on 9/9/05 11:58am
Msg #64355

Missy,

what area of NV are you in? I'm in the north.

Reply by MissyNV on 9/9/05 12:01pm
Msg #64357

Re: Missy,

North also. It is great to live in the area of growth. Email me if you want, [e-mail address]

Reply by Les_CO on 9/9/05 12:22pm
Msg #64363

I really think it has to do with the area you're in, and how many notaries are out there. (along with how you get the doc's, what kind of loan, distance traveled, etc.) I know I'm in a minority here, but I believe you (we all) should charge everyone the same fee based on the work done, not what "they" (TC or SS) are willing to pay. I do standard overnight refis for Title Companies all the time for $125. If I do them (local) "in their office" $100. My fees do vary, but it has more to do with the worth of the customer (to me) than the individual job. In other words, if they send me 3 to 5 jobs a week, I give'um a discount. I think at $150 you will make money on this signing. (even with todays gas prices) Try it. If you don't make any profit, charge more.
Remember the "borrower" is the person that pays the fees. Sometimes the TC puts the fee on the HUD (notary fee) sometimes they include it in their "closing fee" or "bundled services fee". So sometimes the Borrower pays the $150 for your fee (on the HUd), and sometimes they pay say a $300 "closing fee" to the TC, which your $150 is taken out of. The TC's really don't care about notary fees. BUT the LENDER usually does! It's a VERY competitave world out there. The lenders often advertise "low costs" etc. Yes, I know we've all seen "no closing costs" loans advertised, and most of us don't believe it, but (someone responsible with) the lender, does care about these costs.
More and more Title companies are "going direct" to the notaries. They realize, that the SS's "usual fees" are (have been) say $250. And they know the SS"s try and pay notaries say $50, keeping $200 for their effort. The TC also know that for $50 they get all kinds of problems. They really don't need to do these signings twice. So they are willing to pay the EXPERIENCED signing agent, say $125 to $150 for a signing, hire a scheduler, keep some "control" of the signing, lose the middle man, and keep a few extrs bucks to defray some of the associated (screw up) costs.

Reply by CaSigner on 9/9/05 12:38pm
Msg #64367

Les_Co

How did you go about marketing the TC's. I know you can Google, then email from there but how did you get most of your "direct" work from them? I receive quite a bit of work for TC's myself but they all started with going through SS's and then directly to me. This is great, but I need to market more directly. Any suggestions? Other than the phone book and then mass mailings.

Reply by Les_CO on 9/9/05 2:17pm
Msg #64400

Re: Les_Co

I have signed up with several "notary companies" that advertise. like "Notary Rotary", Go mobile Notary, 123 Notary, etc. I have gone in person to Title Companies in my area. I just go in and try and speak with the "Escrow Supervisor" Tell them what I do, give them a card. (don't do this EOM)I've never done any kind on mailing. ( I throw that junk mail out, and think 90% of others do too) I've done a lot of work for First American offices out of CA. (some from here in Denver) Someone there just called me, and liked the way I did their closing. (and Yes, I know that First American 'owns' FASS, but many of the First American offices won't use FASS, poor results) I must say it helps if you know what your doing. The Title Companies REALLY don't like mistakes. And they risk (losing) their hard earned clients, on a notary's mistakes. Not to mention maybe thousands of dollars. All a notary needs do is NOT ship the package out on time, The deal doesn't close, The doc's have to be resigned, the borrower loses their lock, and the Title company eats it. I know of one such case last month, cost the Title Company $2200.00. (They won't be using that notary again.) Try and learn as much as you can, be exacting, and understand the Title Companie's problems. It can be a slow start. But if they use you once, and you're good, they'll call back.

Reply by Les_CO on 9/9/05 2:44pm
Msg #64408

Re: Les_Co

Thanks for the information! I thought it had more to do with me than the signer. But I have not registered. So the State give you a unique number (and I suppose password, or something for security) and you "apply" this number rather than your SEAL and signature? So, you must be there, and ID the affiant, but they actually do NOT sign the document? And you as Notary do NOT sign and “seal” the document? You just put in your ‘unique’ number, and the deals done? Will the County Clerks accept this? Sounds like if you must ‘be there’ and the signer must ‘be there’, what’s the point? (Except you don’t have to hand carry or mail ‘originals’ ?) No need to answer this. Sounds confusing enough that I’d better read the CSR’s myself.

Reply by Les_CO on 9/9/05 2:51pm
Msg #64412

Re: Les_Co/sorry wrong post

Sorry, I put this post in the wrong place. Even experienced notaries can make mistakes!

Reply by cnrtlcalntry on 9/9/05 1:05pm
Msg #64375

Just wanted to say I am a newbie and I am so glad I found this site.
I cant belive how helpful everyone is.
I learn something new every time I log in.
Anyway, just wanted to share that!!!

Reply by christiSocal on 9/9/05 1:17pm
Msg #64379

ok, I just have to ask, cnrtlcalntry

What does your name stand for? Is there a state in there? I've been looking at it and trying to see a meaning in it, if it's initals or parts of your name you don't need to tell us if you don't want to. I'm just curious if there is something I'm not getting???????? oh btw welcome

Reply by Art_MD on 9/9/05 1:23pm
Msg #64381

Re: ok, I just have to ask, cnrtlcalntry

Looks like central california notary.

Spelled as if it were a vanity plate !!!

Art

Reply by cntrlcalntry on 9/9/05 2:59pm
Msg #64416

Re: ok, I just have to ask, cnrtlcalntry

Well, ChristiSocal, I am soo glad you asked becuase I
did notice I put it in with a typo Ooops!! It is supposed
to be Cntrlcalntry (now don't I feel smart ha ha!)
Yes this is for Central Cal. Notary as I am new to
the Fresno area. And Thank You for the welcome!!!!!!!