Posted by Traci/MD on 3/22/06 12:30pm
Msg #107765

Fee cuts!

I had a nice conversation with a national title company today. They want to cut fees. How unfair to cut the rates across the states. I feel each state should be rated accordingly. They our taking the average of what notaries charge, in each area and are coming up with a dollar range. I was receiving $130 - $200. Now because of Notaries/ LTP out there working for $65- $100 they think. I can lower my fees. I can not afford to lower my rates. I not stupid.......I see the hud they are still charging the same amount. The volume of loans have not decreased. Good reason to keep rates up in your counties!!!!

Reply by Teddog_CO on 3/22/06 12:32pm
Msg #107766

Re: Fee cuts!-Do Not Change your Fees!! n/m

Reply by Mindy_WA on 3/22/06 12:38pm
Msg #107768

Re: Fee cuts

When we get that old "fee cut" talk we like to say. "Oh, so you're cutting fees? Well, we are NOT cutting our fees here, so how does that work?"

Usually the last time we talk about fee cutting. Although, we are not saturated with NSA's here.

Reply by Beth/MD on 3/22/06 12:42pm
Msg #107770

Re: Fee cuts

I don't cut my fees. I've had to argue a few times with a two TCs I work with. Eventually, each has called back and paid my fee.

Reply by Traci/MD on 3/22/06 12:50pm
Msg #107781

Same here Beth. I want everyone to think! n/m

Reply by MichiganAl on 3/22/06 12:48pm
Msg #107777

Fee cuts

Once again, proof that the bottom feeders who provide their notary services on the cheap hurt all of us (including themselves). Personally, I stand firm. I set my fees, not vice versa. If I lose them, so be it. I'm confident that I'll find someone to replace them who is willing to pay a reasonable fee for my outstanding services.

Reply by Beth/MD on 3/22/06 12:54pm
Msg #107782

Re: Fee cuts -- I agree Al

The hardest thing for me was to stand firm last year with this particular TC I work with. I really didn't want to lose them after just starting to work with them. They did keep calling and meeting my fees.

Reply by eXpedN_TX on 3/22/06 1:36pm
Msg #107816

I don't cut my fees either. I look at it that if anything else, our rates should go up...just look at the gas prices these day. If they make the same amount (from the HUD), then why cut our fees? Maybe you can say after the next 1000 (yes one thousand) loans they assign you, you will give them a freebie. LOL!!!

Reply by Charles_Ca on 3/22/06 2:20pm
Msg #107836

Actually the SS don't care. They are adjusting teir costs by cutting fees so that their profit margin remains the same in a declining market with increasing operating costs. Notaries should be doing the same but there are so many that are so comitted to making it in this buisiness that they will take anythign to be able to say that they are in business. This will eventually correct itself as those who are taking the low rates will put themselves out of the business by payhing to stay in business. It hapens in all businesses and it take stime for people to realize that they are in the hole and have no way of getting out. Hang in there, better times are coming for notaries

Reply by Teddog_CO on 3/22/06 2:48pm
Msg #107843

Charles CA-Couldn't agree with you more! Stand Fast! n/m

Reply by eXpedN_TX on 3/22/06 2:49pm
Msg #107845

Charles CA-Couldn't agree with you more! Stand Fast! Ditto!! n/m

Reply by Charles_Ca on 3/22/06 6:25pm
Msg #107897

Teddy and Expedient, it will actually go by fast

Statistics show that the average US worker doesn't have reserves to last more than a month wihtout aid. I'm sure that after subsidizing this business for several months many are going to throw in their collective towels and go after the next get rich scheme. By the way have either of you herad of Amway??? ;P

Reply by Genkichan on 3/22/06 6:09pm
Msg #107888

Let me guess. It starts with an S and ends with a K. I've been running into problems lately on fees, too. They claim they have 17 closers in Montgomery county, most/all of them have base fees below mine. Two at a whopping $65.00 and a few at $75.00. I absolutely cannot understand how anyone in MD can carry those base fees and survive. Two fee "misunderstandings" recently, and I just raised my future base to account for differences of opinion. They say I'll still get calls at EOM. We'll see. The fee for service might actually be worth the hassel now. ;-)

Reply by JD/MD on 3/23/06 5:36am
Msg #107987

You know as well as I do how they get closers at those fees. There probably is not even 17 title producers in Montgomery county. At least not independent ones who dont work for a title company who provides their bonding.

Reply by Lisa Prestegard on 3/22/06 6:51pm
Msg #107904

Last year, there were roughly 20 SA's in my county... little competition for a very busy market. A year later, that number has tripled!
Not only have I NOT reduced my fees, I have increased them. Last week, I was hired by three different companies (2 SS, 1 TC) on 'clean-up missions'.... fixing those $65-per-signing-notary mistakes to the tune of $150 each. So far this week, I've had one clean-up already. Not bad $$ for a couple of 'missed documents', eh? A sage lesson learned by them all: Forget the extra $$ it's costing you! If you had agreed to my fee in the first place, you'd have had a professional job done ONCE and wouldn't be eating crow with your client due to an inexperienced SA's mistake.
Incidentally, each of those companies had previously stopped calling me because they could get it done on the cheap.
Stand up for yourself with these companies! A few clean-ups down the road, they'll realize how valuable your services really are!

Reply by Charles_Ca on 3/22/06 8:47pm
Msg #107922

Congratulations Lisa! Way to go! n/m