Posted by BrendaTx on 8/24/06 10:55am
Msg #140560

Fee Survey

I have started working on a fee survey for notaries. I ran it through a test phase first. Because I have only a few responses out of a couple of small groups, I have XX'd the states. However, once I have MANY, MANY responses (and no one will be able to be singled out) I will publish the results. Below is ALL the information that is being provided to me.

I am also tallying the amount of those who happen upon the page, vs those who choose not to partake by using a web page counter.

If you want to participate in this survey, please go to

http://www.texas-signing-agent.com/free-notary-book/feesurvey.htm

Click "Fee Survey" and move on from there.

Aug 24, 2006 11:30 AM
1) What state are you in? Two letters. XX
2) What type of area? Medium city
3) What is your base fee? $100 - $125
4) What do you charge for eDocs? $25
Aug 24, 2006 11:26 AM
1) What state are you in? Two letters. XX
2) What type of area? Small town
3) What is your base fee? $75 - $100
4) What do you charge for eDocs? $35
Aug 24, 2006 11:25 AM
1) What state are you in? Two letters. XX
2) What type of area? Large city
3) What is your base fee? $75 - $100
4) What do you charge for eDocs? $25
Aug 24, 2006 11:18 AM
1) What state are you in? Two letters. XX
2) What type of area? Large city
3) What is your base fee? $75 - $100
4) What do you charge for eDocs? $25
Aug 24, 2006 11:17 AM
1) What state are you in? Two letters. XX
2) What type of area? Small town
3) What is your base fee? $50 - $75
4) What do you charge for eDocs? $35
Aug 24, 2006 11:16 AM
1) What state are you in? Two letters. XX
2) What type of area? Small town
3) What is your base fee? $75 - $100
4) What do you charge for eDocs? $50
Aug 24, 2006 10:54 AM
1) What state are you in? Two letters. XX
2) What type of area? Medium city
3) What is your base fee? $100 - $125
4) What do you charge for eDocs? $25
Aug 24, 2006 10:47 AM
1) What state are you in? Two letters. XX
2) What type of area? Medium city
3) What is your base fee? $75 - $100
4) What do you charge for eDocs? $25
Aug 24, 2006 10:45 AM
1) What state are you in? Two letters. XX
2) What type of area? Medium city
3) What is your base fee? $75 - $100
4) What do you charge for eDocs? $25
Aug 24, 2006 10:41 AM
1) What state are you in? Two letters. XX
2) What type of area? Medium city
3) What is your base fee? $125 +
4) What do you charge for eDocs? $25
Aug 24, 2006 10:38 AM
1) What state are you in? Two letters. XX
2) What type of area? Medium city
3) What is your base fee? $75 - $100
4) What do you charge for eDocs? $25
Aug 24, 2006 10:29 AM
1) What state are you in? Two letters. XX
2) What type of area? Medium city
3) What is your base fee? $125 +
4) What do you charge for eDocs? $25

Reply by Michelle/AL on 8/24/06 12:44pm
Msg #140588

Brenda, are you looking for feedback from experienced notaries only? Or do you also want to hear from newbies?

Reply by Life Saving Services - Doug on 8/24/06 12:48pm
Msg #140589

On base fee's I assumed they come to me and the doc's are delivered to my door.

Reply by BrendaTx on 8/24/06 12:58pm
Msg #140590

Re: Fee Survey - yes, overnight docs, Doug. n/m

Reply by Lee/AR on 8/24/06 2:32pm
Msg #140609

Just clarifying, Doug..

Overnight means the Docs come to your door. You still drive to the B's.

Reply by BrendaTx on 8/24/06 12:58pm
Msg #140591

Re: Fee Survey - anyone is welcome, Michelle. n/m

Reply by BrendaTx on 8/24/06 1:03pm
Msg #140593

Re: Fee Survey - For 11 California responses:

Large city $100 - $125
Large city $125 +
Medium city $50 - $75
Medium city $75 - $100
Medium city $75 - $100
Medium city $75 - $100
Small town $100 - $125
Small town $75 - $100
Small town $75 - $100
Small town $75 - $100
The sticks $75 - $100

Reply by BrendaTx on 8/24/06 1:05pm
Msg #140594

Re: Fee Survey - For 11 California responses....hmmmm

What do you think of those responses? I hope people are actually being honest. Right now, that does not look too bad.

Reply by BrendaTx on 8/24/06 1:43pm
Msg #140599

Re: Fee Survey - For 11 California responses....hmmmm

Haven't looked for verifying sources yet, however, from a friend...

**In Jan 1993 the average hourly wage for a financial services production worker was $11.14 and in Jan of 2006 it is $18.33.**

That's about a 60% increase. If the base fee was $50.00 in 1993, then 60% increase would total $80.

Reply by AngelinaAZ on 8/24/06 2:08pm
Msg #140603

Re: Fee Survey - For 11 California responses....hmmmm

And that was a Signing Service base... I wonder if any of the oldies could tell us what the base was from some of the big Title Companies...

Reply by sue_pa on 8/24/06 8:19pm
Msg #140688

Re: Fee Survey - For 11 California responses....hmmmm

ServiceLink - $125 + additional for after 5/6 p.m. and weekends (overnight)
ATM - $110 (overnight)
Atlantic Assurance/TU - $150 (overnight)
TCT - $150 (overnight)
NASCO $125 (overnight)
NREIS $150 (overnight)
FirstPlus Direct $175 (overnight)
Title America $150 (overnight)

these are for the mid to late 1990s when e-docs didn't exist. BancServ paid $200 for a faxed package

Reply by BrendaTx on 8/25/06 9:24am
Msg #140858

Re: Fee Survey and Results - Learn from it.


http://www.texas-signing-agent.com/free-notary-book/feesurvey.htm#76 for results, then scroll up to take the survey if you have not.

Tx and Ca are the biggest responders. Now new folks can see why when they quote $50 for an overnight document package in Texas they are seen as easy money for signing services.

On Friday I personally referred two signings to a network friend in the Hill Country from a title company. The first one actually paid the tx network affiliate $2xx. The second one will pay $xxx-$2xx. Didn't ask her what she got. I am the "point man" for my group. I usually get the call first until a title company understands who to call off the list. I give my friends' numbers out. I do NOT charge a referral fee no matter how slim my own closings are. Small price to pay for the service of covering Tx for good title companies and rev mort loan officers looking for experienced notaries.

Most of the time we figure on getting the ss fee of $150 for the same job and quote accordingly. We GUARANTEE our work.

SSs who only take $25-$50 off the top would be a welcome relief. This garbage of making $75 - $100 off the notary is out of control. They are often getting $250 for certain lenders...unless they are playing the underbid cutthroat game.

Start networking yourself, get a point man and work less for more. We do not solicit our client's clients if signing companies call us, but we do not go down on our fees either where there's travel. Don't run your car into the ground.

BTW - Thanks sue - that's what we were looking for on the "title company" fees.

Sadly enough, at some point there became "signing service" fees and "title fees." That would have been fine if there was more work per agent to make up in volume, but then the flood of the countryside with notaries...demand went up and the notary population increased rapidly.