Posted by NCLisa on 4/25/06 7:44pm
Msg #115891

Fees & Inflation

I was just reading other threads about the fees that seem to be getting lowered and the SA's overhead. Why are our fees going down and not up. When I worked at Placer Title in CA, when I would hire a SA or SS to close one of my files, the fee started at $125.00 and could go as high as $300.00. That was in 1998 & 1999. With inflation shouldn't we be getting paid a lot more?!

Reply by Glenn Strickler on 4/25/06 7:49pm
Msg #115894

Like anything in a free market economy, we are also governed by supply and demand and right now we are oversupplied with NSA's willing to work for 50 or 60 bucks .... Before you wish for government controls, during my 6 years in the Army, I spent plenty of time in countries whose economy was controlled ... You don't want it ......

Reply by Kelly M Robertson on 4/25/06 8:06pm
Msg #115905

You are sooo right Glenn

I said, "no" a lot this past week at end-of-month, but it was all for signing services that I had never heard of or worked with before.

I added it all up today and my totals aren't really looking too bad compared to last year (so far). Yes, a little slower, but standing firm on my fees hasn't hurt me financially because my fees are a bit higher this year than last. The pressure is also off because I'm not a sole provider of a family so I'm not as concerned as others.

Not sure what gas prices will do and I agree that fees for everything should be going up, including LSA fees. I guess if there are those that accept it, then some companies will keep offering it. I can't "tell" people what to accept but I try to remind them that $50 a job is what I accepted as a standard fee 8 YEARS AGO. Less than that (or that!) is definitely not acceptable.

Reply by Charles_Ca on 4/25/06 8:36pm
Msg #115921

Re: You are sooo right Glenn, Remember the government has

fixed notarizations at $10 each in California and a lot less in other States, do you want that mentality telling you how much you are going to make. Do you have any idea how long the government mandated notarization fee has been the same. Where is the escalation for increase in costs. You are in charge of your own business set your own fees. The government screws up everything it touches, just keep the great service at your local DMV in mind whenever you want the government to take over something.

Reply by Becca_FL on 4/25/06 9:49pm
Msg #115959

Lisa, I worked @ PTC in CA too.

I was there from summer 2002 to winter 2003. Just long enough to do what I had to do in Cali and get the hell back out. NCS was my first encounter with "assembly line escrow" and, I must say, I learned a TON. I learned that ex-Gap T-shirt folders can become escrow officers overnight and CSRs from earthlink are automatically made into title clerks. WOW, what an awakening. When I left business was down, Judy was laying off people, but she was driving a brand new BMW Z4. Hmmmm..Sorry, I'll be back in a few weeks to say hi to my west coast compadres, but I'll not be stopping in Rocklin.

Reply by NCLisa on 4/25/06 10:04pm
Msg #115968

Re: Lisa, I worked @ PTC in CA too.

I was in the Danville office in Contra Costa County. Things were way different there. I was the youngest officer in our office and in my late 30's, and with 8 years experience. The other officers all had 25+ years experience. Now my assistant was green when I got her, and she followed me over from Financial Title.

I don't think NCS was around when I was there. Now talk about a ripoff signing company..the last NCS closing I was hired to do didn't sign, one reason being that the TC fees were over $3000.00.

Reply by cblasvegas on 4/26/06 12:16am
Msg #116001

I've told alot of callers that I have to raise my fees because of the cost of gas, faxing, paper, laser ink, etc. I've been told by some that if I lowered my fees I would get more calls from that particular Signing Co. and I should lower my fees. I tell them because of the high cost of gas (and it is almost $3 here), printing, etc. I will not go lower because I will loose out and not only that most of these last minute callings don't pay you until a month later. But lately alot of these Signing Co's call me last minute to do a signings and they will only go as high as $80 for edocs. I just tell them look for someone else or call me back if they will pay me my fee some do and some don't.
If I get a call on late Fri. afternoon around 4pm and the closing is scheduled for 7pm I charge higher then my normal rate because you have to rush it. Half the time its a company that sends you an email with 4 pages of instructions and then before you even print out the loan docs themselves you have 15 pages of directions on how to fill out some of their forms. After splitting up the docs, faxing them to whomever needs to ok them its around 11:00pm and they don't call you back right away you have to call them in morning before you drop them off at drop off. Its crazy what some of these companies make you go through for a lousy $80. by the time you finish you've didn't even make any money on that particular losing. I've gone into some other webcites that have forums and I can't believe what Notaries are saying what they have to do for a lousy $80. I say just keep turning them down eventually they will break down and pay you a higher fee because they can't find anyone to do it for that low fee.

Reply by CaliNotary on 4/26/06 12:49am
Msg #116004

It's one of the basic principles of our economy - supply and demand. As supply increases prices decrease.

We're like DVD players. We could get $300 in 1998 because there were relatively few of us on the market. Now that Wal-Mart has shelves of us for $40 and a warehouse full of them waiting to be released onto the market, why would anybody still pay $300 for us when they can get one so much cheaper?

Reply by Anonymous on 4/26/06 10:22pm
Msg #116218

But is it really cheaper when the documents have to be re-done because one of those cheaper models does everything wrong? If someone has to go back on a signing then the companies have spent more money more time. Just a thought!