Posted by Bruce_CA on 8/15/06 1:24am
Msg #138717

Am I on track?

I have been a notary since Jan and a loan signer since feb. I am averaging about 1-2 signings a week and 1 reverse mortgage application a week.

I am trying to replace a 60k a year job (gross) and would ideally like to ramp up to that speed by about Jan of 07. I am figuring about 12 signings a week (my current rate is $100 - $120 for loans and 50 for applications) 25 dollars for edocs. (I just got a new printer, so I need to find out how the costs need to be adjusted for edocs)

I do know everybody is different, but.... am I at least heading in the correct vacinity?

Thanks
Bruce

Reply by Ernest__CT on 8/15/06 3:15am
Msg #138724

No.

California is flooded with NSAs. You're likely to need significant additional income from another source as the refinancing slows even further.

Only you can determine whether your fees are right for you.

Reply by Lee/AR on 8/15/06 7:36am
Msg #138737

Have to agree with Ernest.

CA is saturated. Do a check on your zip code (here) and see how many others are in your area. Then do the math.

Reply by Genkichan on 8/15/06 10:50am
Msg #138751

Re: I disagree

Actually, I think that you could can easily charge those rates to Title companies even in a saturated area. You just have to get to know them, and get them to trust you and actually call you first. With the (small) amount of business you are running now, and your goal by January, you have a TON of marketing to do to reach your goal...Good Luck!

Reply by JanetK_CA on 8/15/06 7:23pm
Msg #138810

Re: I don't disagree

LOL!!! Right... All you have to do is: "to get to know them, and get them to trust you and actually call you first." Sure! No sweat!

Many title companies are doing more signings in-house again and have their own staff moonlighting to handle lots of business. Also, they are being bombarded by SAs trying to get a piece of the action. Let's face it, there are new classes every month churning out dozens - if not hundreds - of new people trying to go after the top dollar assignments. In my experience, it seems that many TCs and LOs are more concerned than ever about choosing SAs with lots of experience.

"you have a TON of marketing to do to reach your goal" - truer words were never spoken! Bruce, I think your goal of $60K by January is waaaay optimistic in the current market, for the amount of experience you have. I recommend you don't quit your day job until you can bank your paychecks without needing to spend them (or close). You'll also find that your expenses will be much higher with your own business vs. being an employee. Just make sure you know what you are getting into before taking that plunge - especially if you have a family.

Reply by TitleGalCA on 8/15/06 10:40pm
Msg #138836

Bruce, JanetK is right on

regarding her take on title companies. On everything she said? Ditto. I am there 50 hours a week and can vouch for the opinion. It's true.

Still....there's that small, little voice inside my head that screams...."If You Market, They Will Come". It's all up to you - just balance truth with wishes.

Reply by Ernest__CT on 8/15/06 8:40pm
Msg #138817

By the way, ...

... your Web Site needs some spelling and other work. In one place you list the plural of Notary Public as Notaries Public (which is correct), and in another place you say "notary publics".

The huge graphic at the top of EACH PAGE wastes time and space.

You didn't ask us to review your Site, but most of it looks good.

Reply by BrendaTx on 8/15/06 8:58pm
Msg #138823

Re: By the way, ...

I haven't looked at his website, but if he is trying to use "notary publics" in his text for the ignorant who search with misspellings (and some do...both misspell and put misspelled words in their website for that searching purpose) one way to do that is slip a light gray block of text in a the bottom of the page which says:

Keywords: Notarys, notaries, notory, notary publics, notaries public

....so on and so forth, in addition to putting a block of keywords in the meta info.

Reply by Ernest__CT on 8/16/06 7:03am
Msg #138869

Brenda is, as always (except when she disagrees with me) ...

... right.

If you don't know what HTML metadata are, stop reading here. (Yeah. Right. You're going to continue reading anyway, aren't you?r)

If you put keywords in your metadata, be sure that those same keywords appear <em>at least once</em> in the text of the Page. Search engines may think you're trying to spoof 'em otherwise.

Reply by BrendaTx on 8/16/06 10:15pm
Msg #139040

Re: Brenda is, as always - Ernest

Didn't know that Ernest...or I have forgotten it. Thanks for the reminder.