Posted by BrendaTx on 8/26/06 8:45am
Msg #141104

Who is setting the payment terms here???

This was in my email this morning from a gal in my Texas group. We have been discussing a title company who is hit and miss at sending their payments out:

>>>>>>>You know, gals (and guys), I just HAVE to go here…this NSA business is the ONLY business I’ve ever been involved in that the CUSTOMER sets the payment terms.

All my vendors in my other businesses tell ME how long they’ll wait for payment or they CUT ME OFF.

They run the same risk as we do of not getting more business by using this practice, but by the same token, they’re not making any money if they’re having to pay for other business expenses and WAIT on payment from their customers. This is just a thought that I had to share....<<<<<<<<<<

That's what I have been saying!

Reply by LawrenceOK on 8/26/06 10:07am
Msg #141117

It is also the only business I have ever been involved in where the Customer wants to set the price. I have a list of every SS that has called me and stated "WE WILL ONLY PAY" not the ones that say "we will offer" and there are 10 SS's on the list so far. There are a lot of companies out there that are in fact attempting to set fees at $40 and $50 dollars and if you don't belive that, start keeping your own list. As far as payment is concerned, we should be paid at the time of funding or at the door. jmo

Reply by DogmongerCA on 8/26/06 10:23am
Msg #141118

In every business I have ever been in, the person who

issues credit, dictates the terms. That is until I got into these crazy business. These SS people mostly out of lack of true business experience, want to. 1. Tell you what your price will be. 2.Tell you how to bill for your services. 3. Tell you that you will be paid when they damm well feel like it. 4. The reason most of these companies string you out for so long on payment, is that their business model is woefully underfunded. Most get paid in a timely manner and use our fees to pay their overhead. This is the reason so many come and go at the drop of a hat. The first hicupp, sp, burp or fart, and they are upside down. It drives me crazy, but what are you going to do. JMHO

Reply by Jenny_CA on 8/26/06 3:38pm
Msg #141155

Re: In every business I have ever been in, the person who

I did receive an email a while back, since I was off the board for a while I don't know if it has been discussed already, where the SS pretty much stated " this is what we pay, there are many of you that don't agree and want to set your own fees, if you don't agree with our fees email and ask to be taken off the database" I asked to be taken off their data base. If I have to deal with their time line for payment and follow their invoicing requests I am sure not going to let them dictate my fees.

These week I've had a few SS tell me what they pay and I just answer "well, this is what I charge". Last night I accepted a job for today, I asked for $25 more than what she said her allotment was but she agreed to my fee.

I arrived home after a signing and didn't see docs, "it figures" I said. To my surprise ( found out at 12 a.m.) the docs went to spam and double surprise she had send me docs for an additional signing both meeting my fee and included the revised HUDs reflecting the increase.

So yes, I get fed up with the bickering over fees but it's refreshing when my fees are met with out a hassle. I was told again by another LO in SO CA that there are too many notaries making errors and she prefers to pay extra to notaries she has worked with before because she knows their work. I appreciate that and in return I try to be as flexible as possible with my schedule.

Reply by LawrenceOK on 8/27/06 9:45am
Msg #141224

Re: In every business I have ever been in, the person who

I deeply appreciate the SS's and TC's that are willing to negotiate fees and recognize experience. The ones that I do not appreciate are the ones trying to dictate what my fees will be.
My list contains only the companies that refuse to negotiate above $50 ($65 /w edocs) and it is growing. The next time I stop at the local 7/11 for a pop or water, I'm just going to tell the clerk what I feel like paying for it and see how far out the door I get.

Reply by Tina_MA on 8/27/06 9:51am
Msg #141225

Re: In every business I have ever been in, the person who

>>>The next time I stop at the local 7/11 for a pop or water, I'm just going to tell the clerk what I feel like paying for it and see how far out the door I get.<<<



ROTF LMAO!

Can you say "shoplifter"?

Seriously though, nice analogy.

Reply by WDMD on 8/27/06 3:16pm
Msg #141288

Re: In every business I have ever been in, the person who

"The next time I stop at the local 7/11 for a pop or water, I'm just going to tell the clerk what I feel like paying for it and see how far out the door I get."

Just tell the clerk to invoice you at the end of the month, but not before the 30th (or else the invoice is void) and you will pay within 60-90 days.