Posted by Dean Harris on 3/10/06 12:50pm
Msg #103926

The mechanics of being a signing agent?

Hi folks,

I read message #33325 and there's a lot to digest.

I'm an Orlando based Realtor yet to close a deal. Several deals fell apart, I started slow time of year, etc...

So, while I have a good understanding of real estate transactions I've never actually been to a closing.

I'm in a large brokerage and we have preferred title companies, and most people I know are in the mortgage and real estate field.

So, I'm pretty well plugged in, but am the sort of person who likes to really understand what I'm doing instead of "winging it".

It was extremely easy to become a notary here in Florida, but I'm lacking in pragmatic knowledge of what is required of a Notary during various transactions. I searched for classes around the orlando area here and didn't find any.

Where can I get more specific information on becoming a signing agent?

Thanks in advance...

Dean

Reply by Merry_CA on 3/10/06 12:59pm
Msg #103930

Try this link and good luck to you!

http://www.myflorida.com/myflorida/government/governorinitiatives/notary/index.html

Reply by PAW on 3/11/06 9:04am
Msg #104070

The MyFlorida sites will have nothing about being a signing agent as Florida does not recognize that as an occupation. The link you provided is for general notary information to become or be a Florida Notary Public.

Reply by Regal1 on 3/10/06 1:10pm
Msg #103937

I recommend purchasing a copy of "The Signing Agent Training Guide" by kathy L. Poston. Very informative & well written.

Reply by Charles_Ca on 3/10/06 1:20pm
Msg #103939

Re: The mechanics of being a signing agent? Why bother?

Hi Dean:

Welcome aboard. I too am a Realtor, GRI and about to complete my CCIM. I specialize in commercial. My question wolud be why would a real estate agent in an urban area want to be a notary signing agent? I have a unique situation in that I travel the state and a lot of my commercial work comes in rural areas in the form of agriculture (wineries) lodging (motels B&Bs etc), multifamily, and commercial (strip centers and regional shopping centers). My situation is unique and I like to be self-contained as much as possible so I became a notary and then I started getting requests for signing loans which I only accept if they meet my fees and I like the requestor. The notary business provides me with a miniscule portion of my total income and I turn down way more than I do. If you read this Forum you will find that for the most part the Signing Services can't pay enough to cover the things they want you to do, and frequestly they are very demanding and unreasonable. Title companies expect error free documentation and are less tolerant of mistakes than SS' are but they pay more. Considering the current state of the Real Estate cycle, the competition in this business and the future outlook, if I wasn't already a notary and I didn't already have all the resources to do this work I wouldn't get into this business. Its just not worth it. You'll make a lot more money applying yourself in your real estate business and you'll find, again in a typical urban area that the notary signing business will distract you from the real money in real estate. That's the way I see it and of course its only my opinion and so its worth every penny you paid for it.

Reply by Dean Harris on 3/10/06 3:54pm
Msg #103981

Re: The mechanics of being a signing agent? Why bother?

Hi Charles,

All great points. I just took an intro to commercial course a couple weeks ago.

While the amount of money is small relative to real estate, it's something I can do when the market is slow- like now.

I just started. I'm a new realtor and new to the state. I've spent a good chunk of change on advertising with nothing to show for it.

I started in November. Not the greatest time of year. The market here has transitioned very heavily to a buyers market.

My SOI is near zero- which is my biggest problem. Instead of dropping a few thousand on Google AdWords and Overture, I should have gotten my skydiving certification and joined the local martial arts dojo...you know better than I do you need people to know you.

The market here is so tight right now I just lost a pre-qualified buyer because other agents are willing to give up 1%-1.5% just to keep the buyers.

I'm doing an open house this weekend for a 1.14 mil house. Would be nice to sell it as the listing agent got the go ahead to state "OWNER MOTIVATED- BRING OFFERS".

However, I've had zero income the last 10 months and my reserves are near zero.

So, $150 or so a pop (or so I've been told) is actually Ok with me until I close on something and start to build up SOI.

Congrats on the CCIM. What's the total cost of that course- $6k-$7k and required 8-10 million in transactions?

My friend can't get a residential listing no matter how hard he tries, but he's gotten 4 million in commercial listings.

As an aside- know anyone familar with the Realtor Land Institute? The commercial course I took had intructors who stated soem of the best courses he's ever seen come from those folks.

Back on point- I've driven countless miles and sat in rush hour traffic with no gaurantee of making anything...so as a source of income it's nice to have. Perhaps make some connections as well...

-Dean

Reply by Becca_FL on 3/10/06 1:23pm
Msg #103940

Huckleberry Bonding in Orlando offers a Signing Agent course. Here's a link to their schedule for the Orlando area.

https://www.notaries.com/SeminarListing.aspx

Personally, I wouldn't waste my money on one of these certification courses.

Reply by Anonymous on 3/10/06 3:56pm
Msg #103982

Thanks for all the other replies. I'm surprised how quickly my post was answered.

-Dean

Reply by Dean Harris on 3/10/06 4:29pm
Msg #103984

Just to update- I just ordered the guide from http://www.signingregistry.com/?pageid=3494, and I'm looking over message 33325 again.

Thanks for the tips!

-Dean

Reply by Joan Bergstrom on 3/10/06 5:24pm
Msg #103998

Go to www.californialoansigner101.com.

Reply by CaliNotary on 3/11/06 2:05am
Msg #104025

Joan, you know better than that

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