Posted by Ray Harrell on 1/23/06 4:10pm
Msg #90388

how to be come a signing agency

can anyone tell me how to become a signing agency? is there any information out there that i
can obtain with this information? ray

Reply by SLB SIGNING SERVICES, INC. - Sherry on 1/23/06 4:52pm
Msg #90399

To become a good signing agency takes years of hard work. By good, I mean providing quality SA's for your clients. It has taken me over 2 years to build up a good/reliable database of trusted closers. This is definately not a business idea to take lightly and you have to be going into it for the right reasons. If you want to open a SS because you feel that you will make more money, that is definately NOT the right reason. I will tell you that you make a ton more money being a SA than owning a SS. I personally decided to open mine because I wanted to be home with my child versus traversing the State of Florida daily....

Some of the other pitfalls are monetary as well...If you want to run a good SS, you need to have enough money to float the business....to put it bluntly, you have to be able to pay your closers even when you have not gotten paid and that is a task in itself...I have quite a few BIG accounts that only pay me once per month and when I am paying closers once per week, that can kill ya.

I probably sound like I hate what I do and I truly dont. I just want to give you the true perspective of what I have learned. I love owning my SS and am very fortunate to have the opportunities that I do but on the same note, there are a lot of ups and downs along the way. It takes quite awhile to build solid relationships with clients and you have to have something that sets you apart from the rest.

Now any other secrets, I refuse to reveal because you may be my competition one day. Best of luck

Reply by SanDiegoCA on 1/23/06 5:28pm
Msg #90405

Sherry, that was a very nice reply to somebody who states up front they WANT to be your
competition!!

Also, I think you are in a class by yourself (or at least in a small minority), you have non-business
reasons to start the business, and have success in your column in spite of your possible lack of real education or experience in business customer relations and practices. You're to be congratulated for this, of course, and I suspect you are more of a long shot made good than many of us reading here know.

Harry, bare in mind this is just one man's opinion, in my experience so far in the business of being a "part time" signing agent (I have two other businesses that don't require full time attending) as well as 40+ years of general business experience (and a BA in business), but here is my answer to your post's question. A grain of salt is appropriate!

Unless you already have a good general business education OR experience, you may have a very difficult time crackling this nut of a business, especially right now.

You'll need a LOT of different talents, from a good phone composure and experience in customer
relations and marketing to systems and processing abilities to make sure you can control the document flow and making sure you pay everyone on time. The industry you're trying to get into, (in my opinion ONLY here) has several things going against it right now:

* you have substantial exposure to ever increasing liability, as YOUR work directly affects borrower's refinancing plans, AND credit

* MASSIVE competition from so many folks who thought about this several years ago, and have a huge head start on you

* an industry which is, in general, on the slope to the downside of the normal business "bell curve"

That fact that you even had to ask this question tells me personally that you don't have any idea what you're trying to do, and should maybe consider looking at the full picture a LOT more before you jump into what could be a DARK pit.

And now a personal plea ......... PLEASE don't become just another SS who has no earthly idea what they are doing and takes great pride in making everybody who does a signing job for them from the list of signing agents suffer because of it. There are too many like THAT now .........

Reply by Anonymous on 1/23/06 5:38pm
Msg #90407

Yes if you want to get in to the SS business, try to imitate people like Sherrie, not
like SOX,SIGNATURE PLUS, SIGNATURE ONE, UNITED NOTARIES,

Reply by SLB SIGNING SERVICES, INC. - Sherry on 1/23/06 5:42pm
Msg #90410

I'm not really sure what you are trying to say San Diego (considering you dont even know me). "possible lack of real education or experience business customer relations and practices". In one breathe you are complimenting me and the other, you are insulting me. NOt sure how this was meant but in defense of myself, I have a college degree and have worked in the business world for over 18 years now and most of that was dealing directly with customers. I would also venture to say that those on here that actually "know me" would beg to differ with you. And considering I have a half million dollar block of business, I would have to say that it wasnt a long shot that got me here San, it was a whole lot of work and a whole lot of prayer.

Regarding the rest of your email, you do give some good advice, too bad it is clouded by the first few paragraphs.

Reply by SanDiegoCA on 1/23/06 5:50pm
Msg #90414

Sorry if that was unclear Sherry .... you really don't sound uneducated OR unexperienced, it's just that you have never bragged about it!!

You input on this forum makes your success pretty clear, and your abilities even more so. My comments were meant to be praise and compliments ONLY, I assure you.

Reply by SanDiegoCA on 1/23/06 5:54pm
Msg #90416

That should have been YOUR INPUT, of course.........

Reply by SLB SIGNING SERVICES, INC. - Sherry on 1/23/06 6:03pm
Msg #90418

Sorry for being so defensive but the way that you stated it made it pretty hard to determine if you were trying to be nice or trying to be insulting....my error

Reply by Dee_Fla on 1/23/06 10:31pm
Msg #90479

that is not how I read it...it came across as "insulting" to me as well. I don't think you really need a business degree to start a business....however, I do think having the experience and maybe even taking classes in it or with the SBA would be helpful.

Remember, most of the greatest people who make the most of money had no business experience or a degree. To some, they are gifted and talented and intelligent. The degree is not alway going to get you to the top. I know several people who can vouch for this. It is nice to have...and its a plus for work, etc...

Just like many believe the only way you can get into heaven is by going to church...well its not!!! Its your own spirituality that you own and that defines you, not the church. Its your relationship with God that will get you through those pearly gates.

The business degree is not going to define you...its YOU who will define you as a person who is intelligent and may have much more experience then someone with a degree.

Whatever the case may be....experience is the best book of knowledge!

And!!! degree or not...its not like people have to always brag about it...after all, I don't brag about mine!

d