Posted by oldhippie_IL on 1/4/06 7:26pm
Msg #86120

Do SS think we are that desperate!

Here is a good one. I just had to share with everyone. Got a call today to do a 1st and 2nd. Told me time, ok. Told me where. ok. Told me he would give me $80.00!!! I laughed! He said, but they are overnights! SO WHAT!!! What is happening? I lost 3 closings today because SS would not pay me what I DESERVE. I didn't get a call back from any of them, so they did find someone else. This just isn't right. Is this happening to you guys also?

Reply by REE_NJ on 1/4/06 7:34pm
Msg #86121

Yes, this is also happening here. I have had 4 between today and yesterday. Someone is taking overnight doc closings for $40-50 bucks and e-mail documents for $75.00. What is great about it, after I turn down these low fee signings, I amazingly get a call from a regular client who pays me very well to do a closing. I assume they must have another full time job and only do this part-time. Even doing this part-time, the individuals doing these closings at that cost are selling themselves short. If they believe that these are fair costs for them to maintain business, then that is their own issue. As mentioned in other threads on this issue, they are truly not factoring in operating expenses, etc. when they are working for such a low fee.

Reply by LauriecPA on 1/4/06 7:35pm
Msg #86123

This has been happening to me, too. Last week I was asked if I would lower my fee for email docs (last min.) to $85 ("just this one") when I told them $90 was rock bottom. They had to "get back to me after approval" and I never heard back. I just had another great offer tonite from a $50 co. They wanted me to be at a city that is at least an hour and a half away at 8 am. He got really cocky and said "It's only 14 miles from you!" I said I don't know what software you're using, but that town is not "only" 14 miles from me and I don't travel "only" 14 miles for $50 anyway!

Reply by ILNot on 1/4/06 10:25pm
Msg #86160

Laurie said it perfectly...

you quoted the ss exactly. I'm tired of hearing let me 'see if I can get that approved'. Why don't they just say, sorry I can't meet your fee, I'm going to find a notary that will do the work for what we are willing to pay. I would rather they be honest with me then tell me they are going to call me back when they really have no intention of doing that. If we take the lesser fee we are just lowering the bar for them.

Reply by travis faherty on 1/4/06 7:43pm
Msg #86126

you know for $50 for overnight may not sound like alot but what expenses do you really have doing overnights???? heck if its a 25 mile trip each way you have what a couple gallons of gas. and a couple hours of your time. and what happens is the keep getting the $50 calls so while we what for $80-100 there taking the money and ss know that there is an over abundence of these folks out there.

Reply by oldhippie_IL on 1/4/06 7:51pm
Msg #86128

I also have a full time job, but I WON'T do this. I keep seeing more and more new people on the board, and I wonder if this is their way to introduce themselves? Believe me, I have only been doing this for a year, but, they are taking away from my bread and butter. Single, putting my son through college. I worked just as hard as everyone else, and this just blows my mind. They just don't get it.

Reply by REE_NJ on 1/4/06 7:54pm
Msg #86130

I understand your position but I will stick to my guns and only accept assignments that are truly worth my time. I will not accept $50.00 to travel a total of 50 miles. I think PAW, Teddog or someone else a few weeks or months ago clearly broke it down mathematically for those who do not get why it is not worth it. Everyone can operate their business how they want to and accept any assignments they want to. My fees are very fair, I am not out making a killing just to make a good salary...I did not start my own business to work my fingers to the bone for someone else to make a substantially larger profit off my time and effort to travel and conduct a closing.

Reply by oldhippie_IL on 1/4/06 7:59pm
Msg #86133

That is right!!! And that is what I'm going to do!!

Reply by NorCalDar on 1/4/06 8:06pm
Msg #86136

The one thing that gets me is that those whoo take the $50.00 signings and post that they don't see a problem with it don't seem to hang around long. They probably either get bored or go broke. The problem is NAA keeps filling the pool w/ NSAs that take $50.00 signings.

For those of you willing to take the $50.00 signings I've got a homework assignment for you. Try to find as many signing agents as you can that have been doing this profitably for at least one year by taking the $50.00 signings and fill your car with them. I'll bet you wont find enough to qualify to drive in the Car Pool lane.

Reply by Teddog_CO on 1/4/06 8:33pm
Msg #86140

NorCalDar! You got that one right! nm

Reply by Teddog_CO on 1/4/06 8:35pm
Msg #86141

oldhippie_IL Stand Tall Brother! Amen nm

Reply by Teddog_CO on 1/4/06 8:29pm
Msg #86139

Ree,

I do believe I'm going to Flip if another person tries to feed that line of Bull Hockey to us $50 Bucks- Good Grief! When you break it down it's less then the min/wage.

Yes, I do agree people are free to do (what they call business) as they please. But don't EVER try to convince me that I can do business for that kind of money. Like you, I am not in business to support someone else's larger profit. Just check you costs for running your business for one month. That would be the overall cost per/month- then the overall cost per/year, that's how you set your fees. Trust me Nothing is getting any cheaper, if anything we should be raising our fees.

So let the people who want to take $50 buck jobs, go ahead and take them. They will not be around for long, nor will the $45/50 SS that hire them. SS will pay the ultimate price for their low-ball fees and the quality of work they get for their low-ball fees.

Once again I preach, do business with TC/Escrow companies and get rid of the middle-man that has no intention of working with us to do business as it Should be done.

And to the truly Professional SS they will still be around when "the dust settles." So Only accept signings from Good-Professional SS, they are out there. I have the utmost respect for the Professional SS and TC/Escrow companies that I work with. We get the "job" done with no fuss-no muss and work very well together without wasting valuable time playing "The Notary Auction" game.

This my opinion only.

Teddog

Reply by John_NCal on 1/4/06 8:15pm
Msg #86137

$50 for overnight docs and a 50 mile trip???

You obviously do not value your time or efforts. Get an idea of what your real costs are, vehicle expenses, your cost of maintaining "business" identity, your cost of living, etc then see if $50 and a 25 trip each way really make sense. It's thinking like yours that makes it difficult for the people who are serious about making a living rather than playing games.

Reply by Teddog_CO on 1/4/06 8:42pm
Msg #86142

Amen to that! John NCal nm

Reply by oldhippie_IL on 1/4/06 8:45pm
Msg #86143

Re: Amen to that! John NCal nm

Teddog, I'm a Sister!!

Reply by Teddog_CO on 1/4/06 8:49pm
Msg #86145

Sorry! Stand Tall Sister!! lol TD nm

Reply by oldhippie_IL on 1/4/06 8:57pm
Msg #86148

Re: Sorry! Stand Tall Sister!! lol TD nm

Won't get this sister down. I will just have to wait it out, and depend on my deserving title companies.

Reply by Teddog_CO on 1/4/06 9:11pm
Msg #86150

Re: Sorry! Stand Tall Sister!! lol TD nm

We're having the same thing out here. But for every low-ball call you get-two of your good companies calling. Don't let it bother you, just hang in there. A lot of these low-ball companies are feeling the repercussions of the low-ball notaries (they just don't care) and it's starting to show. I can tell by some of the frantic calls I get, can't download docs-no shows,..etc. So that just proves "experience" counts when the chips are down.
$50 buck notaries have No vested interest in our Profession.

Best to You

Teddog

Reply by CarolynCO on 1/5/06 8:40am
Msg #86191

Re: ... what expenses do you have doing overnights????

You've got to be kidding right, Travis? If that's the case, why don't you just pick any old figure out of the sky because it's apparent you have no idea what it costs to be a business owner, operating expenses, taxes, and the definition of PROFIT, which is obvious you don't know the meaning of.

Additionally, 9 times out of 10, the value of the notary services alone is more than $50.

Reply by travis faherty on 1/5/06 1:37pm
Msg #86293

Re: ... what expenses do you have doing overnights????

seeing how i'm new and have asked repeatedly with out an answer what business expenses do you really truely have for overnight docs????? lets see you have your time, your gas, wear and tear on your car. then you have your notary stuff(which is for 4 years so break it down accordingly). now tell me whats better taking the $50 signing or flipping burgers or stocking shelves at night for minimum wage. some of us can't work days for several reasons and making more than minimum wage by a little bit is fine. and some of us are new and we get this "need "x" amount of signings or experience" well how do i get that if i don't get any signings. at some point you swallow your pride and take what you can get. sorry but this area is saturated with us and if you refuse the money it will go to somebody. yes somebody will take it.


so heres my question break down the cost of an overnight siging 50 miles round trip. show me how it cost so much.

Reply by NorCalDar on 1/6/06 12:31am
Msg #86504

Re: ... what expenses do you have doing overnights????

"so heres my question break down the cost of an overnight siging 50 miles round trip. show me how it cost so much."

There have been too many postings on this board citing examples of costs. That said, I don't know of too many places I can go 50 miles round trip in under an hour. If the signing takes an hour, my "time investment" is $25.00 per hour. In other words, the SS would be paying me $25.00 to drive to the borrower's house and $25.00 to conduct the closing without factoring in overhead. So if you think your time is worth $25.00 per hour, great. Take the $50.00 signings. Ignore the costs of doing business if that makes you feel good. Let's face it, $25.00 an hour is a heck of a lot better than what you'll get for flipping burgers! But then even McDonalds doesn't make its employees supply their own spatula, use their own grill or drive their own car thru the drive-thru.

Here's the rub. You posted the following:

"some of us are new and we get this "need "x" amount of signings or experience" well how do i get that if i don't get any signings. at some point you swallow your pride and take what you can get. sorry but this area is saturated with us and if you refuse the money it will go to somebody. yes somebody will take it. "

You act as though someone owes you signings. How do you “get” them??? Try working at it. Accepting the signings at a low-ball fee is no answer. What are your plans once you get that much needed "experience?" When do you raise your rates to be in line with your experience? How will you handle being undercut by inexperienced SA that will take less than you?

I have several SS that regularly pay me $125.00 for e-doc signings. They don't try to low-ball me because they know I perform a service that keeps the borrower and lender happy. Keeping borrowers and lenders happy leads to more business. I sell myself to the SS and deliver what I promise (and yes, I factor that into the cost of doing business). I read, learn and research to become an asset to the industry (again I factor this into the costs of doing business). I can tell you that before NNA and others started flooding the pool, it may have been easier for us to because there were less SA around. But I can still tell you that I would and do market myself to the extent that I don't need to take $50.00 signings because they are not profitable.

Look at the big picture man. Stop being taken advantage of! You think that company that sends you out to facilitate the closing would do what they are asking you to do for $50.00? All it will take is for all the "newbies" to quit (as you so eloquently put it) swallowing pride and start to stand up for their value to the loan industry and we all win.

Reply by MonicaFL on 1/5/06 6:46am
Msg #86179

I have made it a point to tell these SS's when they say "I will call you back, I have to get approval", I say, well, get approval now or don't bother to call me back. Has been working well, both getting the assignments and not sitting around waiting for a "return" call that never comes.

Reply by CarolynCO on 1/5/06 8:32am
Msg #86188

Re: I tell them if they have to get approval and call back,

my rate will have risen!

Reply by NotaryVA on 1/5/06 7:36am
Msg #86183

Apparently!! I got a call yesterday where they were sending the docs to the borrower, trying to pay me $50, I told them sorry!!! My minimum fee is higher than $50.