Posted by Anonymous on 4/20/06 7:31pm
Msg #114943

Michigan

Does anyone know what the Michigan market is like to NSA's?
Any information would be helpful.
Thank you in advance.
D.A.

Reply by Dorothy_MI on 4/20/06 8:08pm
Msg #114952

As I can see you are from MI. The NSA market here is a reflection of what the market is nationwide for NSA (too many notaries not enough loans being generated). Add to that the terrible job market here and the terrible home sales here and you will understand the bleak picture that we are all facing. Sometimes I wonder how tuned the NNA is to local markets because they've just had another seminar in the Detroit Metro area as well as I believe a couple of other markets in the state. There is really not enough business to sustain the existing NSA's already here and they are pumping unknowing, unsuspecting newbies full of "full time income, part time work", make up to $125 per job, etc expectations. Every time I read one of their ads what immediately comes to mind is the lure that Multilevel Marketing companies tout.

Those of us that do make a full time income have to work full time to do it and many times what would be considered "over time" in a regular job; nights, weekends, holidays, etc. If you are asking because you are thinking about getting into the business, your decision is up to you, but it will NOT BE EASY NOR WILL IT BE FAST! Are you very disciplined? Do you have marketing talents? Do you have sales abilities (we have to be able to sell ourselves to get work)? Are you organized? If you are deficient in any of these areas I would think long and hard before investing the time, money and effort into this field. When I first started four years ago in the midst of the refi boom and before the NNA discovered what a cash cow it was to train NSA's, it still took me four months of 40+ hours a week work to start getting any kind of consistant business. This was at a time when the state only allowed you to charge $2.00 per notarization, so basicly the only notaries were one's who were required to have it for their day time job. It took me 2 months to get my first job (four jobs the next month), then about 4 or 5 more to develop a business that could sustain me. The cost, when I first started e-docs were almost unheard of. You could literally get started with a cell phone and a fax machine and a dependable car. Now you still need these as well as a fast computer with loads of memory, a high speed internet connection, a fast laser printer, preferably one with two trays, a copy machine, a scanner, a digital camera is an additional help, not to mention a credit card with plenty of room on it for your gasoline purchases, paper, toner, cell bill, internet bill, etc because it can take 30 - 45- 60 days to get a check for the job you just did today.

Reply by James Wilson on 4/20/06 8:30pm
Msg #114959

I totally concurr with Dorothy's assessment.

Reply by Julie/MI on 4/20/06 8:47pm
Msg #114968

What part of Michigan?

If you are referring to the Detroit suburbs, we are saturated with notaries.

Fees to signing agents are down so if you want to gross $3000 you need 60 closings at $50 a pop. The last time I checked with my fake company at NNA, there are over 600 notaries that cover the tri county area. I'm not talking edocs but with gas at $3 a gallon and the orange barrels popping up, you catch my drift and the nice drift Dorothy gave you.

I cannot speak for other parts of the state--it was a great wave while it lasted. Just like the dot com's the mortgage bubble is bursting.

Reply by Jahari Davis on 4/20/06 9:39pm
Msg #114980

Re: What part of Michigan?

Michigan sucks. Period. I've lived here all my life and now, I'm about to blast free of this place. With GM becoming the next Enron laying off tens of thousands at a time, and their contractors closing up shop and moving out of the country FOR SALE signs are going up all over. And with gas prices going into outer space the vice is squeezing tighter and tigher and tigher. The jobs picture is bleak and the pay for those jobs is way too low to make ends meet in comparison to other parts of the country. For instance, I had to take a job with an $8/hr paycut making less than I did 7 years ago before Y2K and I've got almost 10 years of experience in the IT field. I'm about to leave this state in the next month or so for survival, just like everyone else is doing. I had a decent March with the one TC I worked with and then it dried up in April, even with registering with TC's and SS's across the country. I've registered and calling begging for signings but I've only gotten 4 closings. Its near EOM and I'm hearing crickets.

Reply by Allison_MI on 4/21/06 8:40am
Msg #115061

Michigan becoming Saturated!

Not as good as it used to be with this industry but it's becoming more and more saturated.

allison

Reply by MichiganAl on 4/20/06 10:20pm
Msg #114993

So, do you get the picture?

I'm still doing well, but I'm just fortunate to be firmly entrenched with a few companies that have kept me busy the last couple of years. My personal opinion, trying to get in now would be brutal. Mortgages down, rates up, construction down, more notaries every month, Michigan economy about as strong as some third world countries. I can't think of a worse time to get into this in Michigan.

Reply by TitleGalCA on 4/20/06 10:22pm
Msg #114994

Al, do you work within Wayne County? n/m

Reply by MichiganAl on 4/20/06 10:28pm
Msg #114998

Commissioned in Wayne, cover Oakland, Macomb, Washtenaw

And yes, dealing with infamous Wayne County can be a nightmare.

Reply by TitleGalCA on 4/20/06 10:48pm
Msg #115004

I'm following this one Al

so appreciate any input. It's a big title underwriting decision that will eventually affect me.

Wayne County is a travesty and from what I can determine, there will be huge legal action, well-deserved legal action.

Reply by Anonymous on 4/20/06 10:45pm
Msg #115002

Thanks everyoone.. I live in the Detroit area and I was thinking of doing this to supplement my income. I think Detroit is probably the only City in the country that is in a depression.

I don't relish the thought of packing up and leaving, but I don't think I have many other options. My daughter graduated from college in may, but she has not been able to find a job, in her particular field or out.

Thanks,
Workinggirl

Reply by Allison_MI on 4/21/06 8:44am
Msg #115065

I hear Arizona is nice

I did a closing for a couple here in michigan (macomb county) and they purchased a house in Arizona. She informed me that houses and the market down their is awesome. She said that I would clean up. Well, I only do about 30 a month here in michigan and I do good but I tell you, the market here in Michigan (economy and otherwise is going to the dogs). I just may move in a few years, just to get out and get back into the "work force" with a decent salary.