Posted by Anonymous on 6/8/06 9:29pm
Msg #124868

Nations direct

Nations direct just contacted me to do my first closing and I am not sure if there is anything I should be aware of before accepting the assignment. I am trying to get work and willing to accept almost anything in order to gain some experience so that I can market to my local Title companies who are not wanting anything to do with me since I have no closing under me. any input will help thanks.

Reply by SharonMN on 6/8/06 10:29pm
Msg #124874

I'm assuming you accepted - be aware that you have to pick up your phone and say yes or no right away in this business or they call the next notary.

Nations Direct can be OK to start out with if you don't mind their low fees and slow pay (they will pay you - it'll just be on the last day of the NEXT month - end of July if you do one today). Be aware that you will need a fax machine because usually you need to fax back quite a few documents (25-35 has been my experience). Just follow all of the directions they send you and you'll be fine (assuming you know how to notarize). If you have any questions, call them and ask. Oh, and read this board, especially the posts for newbies.

Also, don't expect that local title companies will be eager to hire you just because you did a couple of signings...

Reply by MelissaCT on 6/9/06 9:32am
Msg #124926

I wouldn't expect much from the title companies until you've done a hundred or more signings. They want experience. A few signings does not an expert make.

Don't be "willing to accept almost anything" -- you're sure NOT TO LAST long -- or to dig yourself into a world of credit card debt that you're personally responsible for after your business goes south. Slow & steady wins the race. Know your bottom line & break-even points for your business.

Reply by SharonMN on 6/9/06 11:05am
Msg #124946

Re: "willing to accept almost anything"

I disagree - if you have no experience, I think it's fine to accept a few low-paying assignments to get your feet wet. You have to start somewhere, and in general, I think the lower-paying services expect to have to do a little training and support periodically. The key is that once the notary has established himself a bit, he should charge fees appropriate to sustain his business at a profitable level (including compensation for his time at an appropriate rate).

As for the "world of credit card debt" MelissaCT refers to - well, with no experience you shouldn't expect to make a full-time salary you can live on right off the bat, . It's simple enough to begin your notary biz part time while holding down another job to pay the bills.

Reply by MelissaCT on 6/9/06 11:30am
Msg #124954

Re: SharonMN

Yes and no. This has been debated on these & other boards endlessly.

Whether FT or PT, one still should know where their particular bottom line is and not accept signings (even for experience sake) that fall below that threshold. It just isn't good business, besides the fact that if you accept the "lowball fees" once, it may be more difficult the next time around to charge more.

If you're accepting signings below your bottom-line amount on a regular basis (to gain experience) you will be using credit cards more & may end up digging your business grave. Even if you're working PT & using another job to pay bills (rent/mortgage, utilities, etc.) you would also have to be making enough to pay for gas, insurance, car repairs, business supplies, etc... It's simple economics.