Posted by closerchris on 12/21/06 11:36pm
Msg #167320

use and abuse

I've been working in-house with a title companyfor the past few months. As the end of the year is approaching, they've been cramming in buisness, they'll start a morning with 20 purchases on the books. So, they hire a whole bunch of closers to cover the day. Today, I'll tell you the story of one....

She shows up at her scheduled time of 11am. At that time, due to a lull in closings, there's nothing to close until the afternoon, so she's sent away until 2:30. She returns at 2:30 to find that the first available closing for her to complete is at 4. Four o'clock comes and goes, as the buyers call to say that they're running late. They arrive an hour late for the signing. At 5pm, they're ready, but the closing officer realizes that their HUD's aren't approved. Closing goes well unitl the HUD's are presented to the buyers, oh-no, the lender took 12 months of impounds on taxes, but they're not due until 11/07! Then buyers use this as an excuse to go off on the sellers. Then they rail into the closer again while the impounds are being adjusted. At 6:30 the buyers finally leave the office.

As the closer hands me the file, she said, "That was the hardest $35 that I ever made." Needless to say, the poor girl was pretty upset.

She came from a signing service. As I reviewed her jurats, I noticed her stamp.... She'd just gotten it this past October. She dutifully puts her notary stamp away in her bag... with a lovely clean.... large national company that provides training and certification to notaries, and, well, you know the company I'm talking about, tote bag.

I feel bad for this girl, but, on the other hand, she accepted the assignment. And, if she'd complained about it, she wouldn't be back. The title company is told to keep costs down, how do you do that? By lowballing their service provider. The title company is no different than any other consumer in that respect.

But some large national company, in their little quest to make money by providing what they consider training, certification (by them), and to sell bonds and insurance and merchandise, is saturating the market with their product,in this case, cookie cutter NSA's. The glut of NSA's is wrecking the legitimate market.

It just really got to me this evening after I saw that. It made me realize how hard it is to succeed in this business. And, at the end of the day, if I'm being to narrowly focused on just loan closings....

There's a funny little PS to that story, later in the evening, the escrow manager and I are chatting about the next day's schedule, and she asks me what time we shoud schedule an important deal. I throw her a time, and then ask, "So, are you going to let a $50 closer close a seven hundred thousand dollar deal?"

"I didn't think about that!" she says as the color drains from her face. "They'll eat one of them alive!"

hehehehe I talked her into a tidy last minute fee, maybe there's hope yet

Reply by closerchris on 12/21/06 11:53pm
Msg #167322

all above is jmo, of course...

Reply by LawrenceOK on 12/22/06 6:21am
Msg #167339

Re: I agree with Sue.

She accepted the fee and then allowed herself to be jacked around for 7 hours. What I want to know is, how much did your company pay the SS to find this $35.00 notary.

Reply by BrendaTx on 12/22/06 7:02am
Msg #167344

Re: I agree with Sue - Lawrence, it reminds me of

the old joke told in my family about the guy who went to Vegas and lost a huge sum on gamblng. He shrugged it off and said, "Easy come, easy go." A bystander asked, "so how did you get all that money." The gambler said, "Picking cotton."

My great-grandmother and her children picked cotton. It ain't easy, by any stretch and the wages for sharecroppers were low.

"Sharecroppers" is the operative word here.

I guess that's why I hate the lowball fees of signing services so much. It's just so wrong.

Reply by LawrenceOK on 12/22/06 7:51am
Msg #167351

Re: I agree with Sue - Lawrence, it reminds me of

You know, I try to be as professional as possible at all times, but when I get calls wanting me to bend over and grab my ankles, I tend to go off. A certain well known company used to call me about once a week ($75 w/edocs) asking if I still did notary signings. I finally told them "not for your lowball fees" they have finally stopped calling.

I walked through a cotton field once and by the time I got to the other end, I looked like I had had a fight with Miss. Ima Rosebush.

Reply by sue_pa on 12/22/06 5:39am
Msg #167337

Sorry Chris, I don't blame that on any national organization and I don't feel sorry for that young lady. Complete and total stupidity are what rule her brain if she allowed someone to monopolize 7.5 hours of her time for $35. She has no backbone and no ability to stand up for herself. so wht if she wouldn't get called back? Your company totally abused her and in my opinion, is lower than the lowest of signing services if they did not pay her additional money when she decided to actually stick it out until the end. And no, that kind of effort on anyone's part will not build them business in the long run - there is a difference between being accommodating your client and the situation and being totally walked all over.

Reply by Teddog/CO on 12/22/06 6:50am
Msg #167342

All I can say about these lowball notaries "No sense , no feeling" or "Dumb as a rock." The goof might as well as given the TC $35 as a Xmas donation.

Reply by TRG_wy on 12/22/06 6:55am
Msg #167343

Isn't experience a wonderful to have. We all started at some point totally clueless and we grew through it. You can't really blame the assembly line SA for not knowing all the ropes right away. Give her a year or less and she'll have learned a few very valuable lessons, then she will be here making the same comments.

Reply by Teddog/CO on 12/22/06 7:14am
Msg #167346

TRG wy

I really doubt she'll be around next year. Trust me when I say even as a newbie never , ever did I do a $35 or $50 signing. My personal opinion is that the lowballers think they are being smart and "getting a leg-up" on everyone else by doing "cheap" signings. When in reality you and I know there is NO way you can stay in business with those fees. It's very expensive to be a mobile notary, and it's not getting any cheaper. Again gas, paper and everything else is going up in price. Just my personal opinion.

Reply by Stamper_WI on 12/22/06 7:36am
Msg #167347

Re: TRG wy

I think about the expenses even more as I set out in bad weather on country roads. If I had an accident i would need to get back on my feet somehow. Thus I build a contingency fund. Some call it savings but it a necessary part of life and I have to earn enough to have one. That is unless you all want to support me with your taxes!

Reply by Teddog/CO on 12/22/06 8:12am
Msg #167353

Stamper WI

Hi kiddo,

My brother said the storm has reached WI last night. Started just like ours, rain first then the winds, thennn snow - snow! Yikes! Be careful out there.

You are correct we are on our own so always be sure you have your little nest (savings) lined as best you can. If you have an accident and have $500 deductable , well you get the picture. Not to mention if you happen to get injured (heaven forbid) You would be up-the-creek for sure. So all I can say is "Be sure you are running a business like a business."

Merry Christmas Stamper !

Reply by John_NorCal on 12/22/06 10:18am
Msg #167371

Re: TRG wy

If she is around then that will be a miracle. Anyone going into any type of business venture needs to fully explore it. They have to see if it is worth their time and effort and they have to have a sense of self worth. I'll be damned if I would let myself be held hostage for 7.5 hours for $35.00. I looked at doing inspections, but when I saw the $15.00 offers I said no way. I can sit in my office and have someone come in for a $10.00 notary. That national organization that is churning out the "signing" agents with $ signs in their eyes is part of the problem, but it all goes back to the individual and their level of naivette.

Reply by Pamela on 12/22/06 11:05am
Msg #167377

Closerchris Re: use and abuse

"The title company is told to keep costs down, how do you do that? By lowballing their
service provider. The title company is no different than any other consumer in that respect. "

I agree. I've worked many decades, in both the private sector and in the
public field (enormous governmental agency). I've set in on many a meeting
(and have worked closely with all type of managers). The bottom line is saving
money, irregardless if it is at the employee's expense (which is why I am "somewhat"
pro-Union. ). Ethics plays a major role too.

In Southern California, there are numerous notary/signing agent training classes taught by
a variety of companies (both large and small). In my opinion, there is MUCH money to be
made in training "newbies" (and a lot easier). Unfortunately, the realities of the signing
industry is not told. There is the constant message of "rewards" "prosperity" etc. . .

Reminds me of those "snake oil doctors" in the old west years ago; full of false promises
and cures, while what they were selling is far from the truth.

However, a very good living CAN be made as a signing agent, with hard work, determination
and common sense (unless a "newbie" knows someone already in the field, who can give
offer them that "added lift", so to speak.).

Pam

Reply by TitleGalCA on 12/22/06 11:45pm
Msg #167479

Re: use and abuse ,a different perspective about this notary

This lady deserves a bit of empathy - sorry to the Cali's of the world but here is a notary that has been bamboozled by the hype, and the "machine".

So much spent on an entire day...only to make $35. This really makes me angry. I hope it makes her angry too. She's only responding to her investment in notary services (advertised) and eagerness to do a job that promised to make a lot of money. She thinks she's paying her dues.

To make fun of her is wrong. When I was in my twenties I did some stupid things in business, simply because I DIDN'T KNOW THE DIFFERENCE! Neither does she.

This poor notary is a victim. A victim of the "large national company". Please be plain...this poor notary was a NNA notary. It's just sick that individuals are taken advantage of like this.

Instead of mocking her "she's not smart and deserves what she gets" I suggest she learned alot. Maybe she learned so much that she'll never make the same mistake again. Maybe she learned so much (by being taken advantage of) that she'll come roaring back, full of knowledge and business saavy that she'll take out several established signing agents in her area.

Maybe she'll end up being the best signing agent in her area because she got bamboozled and saw the writing on the wall.

If I could write the end to this story, I'd end it by this notary digging in and making a go of it....in spite of the NNA machine and her horrible day where she earned less than minimum wage.

I hope she does it, and does it well. Raspberries to those that underestimate the drive to be self-employed. I hope she makes you all eat your words.

Reply by JanetK_CA on 12/23/06 4:44am
Msg #167510

Re: use and abuse ,a different perspective about this notary

If my recent experience is any indication, the chances are, sadly, that she will end up deciding it's not worth it and giving up altogether. I've run into two just this week who did just that. (And neither of them could afford the cost - they were hoping for a way to dig out...) In my book, that makes what the NNA and other copycats are doing even more reprehensible. It's smelling more and more like a scam to me.

Reply by TitleGalCA on 12/23/06 9:42pm
Msg #167602

Re: use and abuse ,a different perspective about this notary

***It's smelling more and more like a scam to me***

Ms. Janet...those are the very words that got me in hot water a month or so ago.

Even though you are quite right (as you are consistently so) big brother has a crew of legal types monitoring this board. That to me, is equally reprehensible.