Posted by Becca_FL on 6/2/06 1:00pm
Msg #123686
OMG, Piggyback w/edocs for $95????
Yep, I just saw a Sarasota Notary advertising this price on a website. If I didn't see it with my own eyes, I wouldn't have believed it. How can these folks stay in business?
| Reply by PAW on 6/2/06 1:10pm
Msg #123694
This is a major problem for those of us who are trying to make a living at this and support a family. A lot of these "part-timers" and "supplemental income - spending money" folks make it extremely difficult to earn a proper a just income. As the signing pie gets smaller, and there are more and more of those who are willing to work for peanuts (or less), the professional signing agent is being forced to look elsewhere for primary income and will then become one of the part-timers themselves. Indeed, a sad state of affairs for this industry. (I've noticed this trend too in my neck of the swap.)
| Reply by BrendaTx on 6/2/06 3:26pm
Msg #123732
For some reason, notaries have not treated this business like a business. I keep on talking about:
Go find out where your competition is.
Go to the courthouse and figure out if the business is there for you.
I do not mean to sound negative, but it is reality. The PT job I have has reinforced and validated me. I am definitely not charging too much if I want a **business.** Real consultants with real business savvy and holding MBA's or finance degrees are on my same page. I love this place. Do not listen to the voice of the scheduler, go to a business person to find out how to make your business work.
If I want to run a "break-even" then I drop down to signing service fees. Unfortunately, many of our middlemen are not charging enough to pay us to run a business - they are paying us to run a break-even, or worse to run a charity.
I think the part-time job at Wal-mart, Harbor Freight, Home Depot...whatever it takes to pay the bills when business slows down is the ticket to keeping your business at a "business" level. You separate yourself from the business. Cutting your price to get enough to buy groceries will drive you into the ground. If business is slow please DO NOT be so lazy that you will do this job for nothing.
Do not, do not, do not cave into being pimped out at charity rates.
Go work an honest job if you need money - work temporary - do not work for peanuts.
When the housing bubble bursts (foreclosures) and the rev morts pick up you will have your business afloat and be positioned to take off again.
| Reply by NCLisa on 6/2/06 5:35pm
Msg #123751
Even when I was doing this just for supplemental income, I didn't charge those kind of low fees. Now the part of the country I'm in, doesn't normally get you $200 to $300 a closing, but I will not leave my house for less than $100 and that is if they are overnight docs. My fees are based per county, since I live in the center of 5 counties.
| Reply by Drakester_IA on 6/2/06 1:26pm
Msg #123701
One day a few weeks back I did some searches in different zip codes here on NOTROT, and am strting to understand why many do not show thier profile. Many in FL, CA, and OR advertizing thier services for $40 and $50 for signings, and $15 edocs
For those curious, I don't have a profile because I am a basic member, get more calls then my associate who is a premier member from here and I am also to lazy to create one 
| Reply by Anonymous on 6/2/06 3:53pm
Msg #123735
Because I am fairly new at this (one month as a signing agent). I have not yet done a piggy back however I have created a price list. I have had nothing to go by as far as what rates should be.
Since I have purchased nine homes in my life time and I am a realtor (though that is not my primary JOB) I feel that I am justified in pulling the cost of starting and running this business together by averaging the monthly costs of what it takes to run this, the complexity of the various packages etc. I have rated the piggy back at 195-215. Tell me am I being rediculous? This is all inclusive of the first 20 miles, anytime between 8am to 5pm then the price is adjusted for after hours and weekend and holidays.
I manage several rentals. These are my own properties, I work full time for the Gov't, and have created multiple small businesses for my children to manage until they are tired and move on.
I think that those who are selling themselves short are doind so because of the desperate situations they feel they are in and that they may not have the negotiation skills needed for this business. That will send them packing shortly and the companies that need this service will continue to pay. Supply and demand will ultimately prevail.
| Reply by Anonymous on 6/2/06 4:10pm
Msg #123738
i did a piggy back , it was one of my first signings a while ago, got paid 210.00.
| Reply by Missy_Lulu on 6/2/06 6:19pm
Msg #123762
Sounds like you have all the right stuff, anon. Yes business ownership with the SA business as with any other takes a certain business savvy and the wearing of many hats. I feel one must be assertive but always tactful. I've heard some horror tales of phone conversations. IMO we must always rise above it all rather than stooping to their level.
I try to teach new notaries the basic concepts of the costs they will incurr on a recurring basis as well as the start-up costs that need to be spread over time. How they need to do some number crunching to see if it is worth it for them. And to keep in mind that it is a real ebb and flow business. Diversification is key. Reliance on simply loan signings will not suffice to create a consistent income.
Some SA's charge for after hours, holidays and wkends. IMO that is part of the normal service. We supply a service to accomodate borrowers after hours.
I have often talked about supply and demand. Additionally, I believe the industry is evolving. All industries do. One must be ready to change to meet the changing demand. Market studies etc. Yes without business savvy I believe many will fall by the way-side with time. Either from losing money or burn out. I could only urge newbies to research the mortgage industry (not just loan signing) learning as much about the process as they can, take a small business course and visit the SBA for resources and guidance.
I would be interested to visit with you about your realtor experience and expertise off-board if you would want to take them time.
Additionally, I think pricing fluctuates depending on where you are. Networking is a big thing in my opinion. If you can find a Notary Meeting Group in your area that may be helpful. Watch the board and you will see people post, or put up a post asking if anyone has notary meetings in your area?
| Reply by Becca_FL on 6/2/06 8:17pm
Msg #123780
Drake could it be that you don't show your profile
because you are not a Notary appointed by the State of Iowa? Funny, I could find no record of you on the SOSs website. Your wife (or as you say business partner) is listed, but they show no record of you. Are you impersonating a Notary? That would be a BIG NO NO in Florida.
I do understand that it takes the less progressive states more time to update their information and would understand if you have recently been appointed.
Things that make me go hmmmm.
| Reply by PAW on 6/2/06 9:58pm
Msg #123815
Re: Drake could it be that you don't show your profile
Becca, both Linda and her husband are registered and listed as notaries in Iowa.
| Reply by Drakester_IA on 6/2/06 10:05pm
Msg #123818
ya kinda makes me go HHMMMMMMMMM as well!!!
Becca, I would highly recommend you contact the SOS of Iowa (the less progressive state) and ask to speak to a very wonderful woman by the name of Syeta or her associate Cathy and inform them of an imposter by the name of Drake Kassis of Sioux City IA. I am sure they will be MORE than happy to hear from you
Now things that make ME go HHMMMM wonder who tried reporting Janlee_MI
| Reply by Becca_FL on 6/2/06 10:21pm
Msg #123821
Re: ya kinda makes me go HHMMMMMMMMM as well!!!
Oh Pa'lease!
Check the site yuorself, Drake. I could not find you listed.
http://www.sos.state.ia.us/notaries/notary_search.asp
No Drake there. So are you saying that you are Hazzaa? Hazzaa, who just happens to be the site admin for the MWNA and speaks arabic and french?
Gee Haz, why not use your real name?
BTW, Janlee knows who I am,without a doubt. I use my real name and identity.
| Reply by MistarellaFL on 6/2/06 6:49pm
Msg #123770
Becca
Would you mind forwarding the link to my email?
This is MY county, LOL, and I wanna know which
witch is undercutting me so hard.
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