Posted by Bruce Johnson on 5/23/06 1:30am
Msg #121648

A few observations....

Hello all,

I have been reading here for several weeks, and I have noticed that it seems from most of the posting that the majority of the signing from you guys are under 100 pages, overnight delivered and not the same day. So far ALL of my signings have been over 100 pages, edocs and the same day (usually docs arrive less that 2 hours prior to signing.)

Am I doing something wrong? It would really be nice to get some of the packages that I see described!

What are considered normal size? Does anybody charge for excess size, If so, how much?
Does anybody charge for "rush" service? What would you charge is it is within x amount of hours?

I do know that I should expect some of these, I am not upset or anything, just more curious, becouse me averages don't seem to be what I am reading about for the most part....

I know that this is MY business, but I don;t want to buck the system of what should be expected (plus other income would be kinda nice, if it is expected....)

Thanks!
Bruce

Reply by Ndwa on 5/23/06 2:27am
Msg #121650

Edocs are edocs and you should always expect the worse which can run up to 150 pages. Just quote high b/c there is always room for negotiation. For a new SA it will take sometimes for you to get use to the flow of things where you'd get a general idea of how much your time/effort is worth.

Unless you've worked with a company, don't ever take a SS's word that there's only so many pages in an email loan package b/c a 50 page set can easily be over 100 including escrow and broker's docs.

Set a standard rate for edoc and overnight high enough where you can deviate a bit base on travel and company reputations.

Reply by JanetK_CA on 5/23/06 3:21am
Msg #121652

I wouldn't make too many assumptions from what you read on this board. Most of the questions are likely being asked by newer SAs and don't necessarily reflect the majority of work being done out there. Most of the things you are talking about will depend on the type of loan, the signing services or title companies and who their clients (i.e lenders) are. Some lender packages are larger than others and more likely to come in last minute (especially those in the "sub-prime" market), which means the need for e-docs, of course.

"Normal" is all over the place, so you just want to be sure that you are charging enough to cover all your expenses and have it be worth your time. Fees are nearly always negotiable (except for some low-ball companies - and esp. in the more saturated markets). It takes some practice, but you'll get better at it with time. See if you can get them to quote you a number first, but be prepared to counter with a higher fee without giving them an ultimatum - unless it is the actual minimum you will work for. And keep in mind that over time, some packages will be shorter than others and it may average out over time. At least that is what you want to have happen, so keep that in mind when setting your fees. (BTW, some people DO charge more for last minute assignments.)

Reply by Kelly M Robertson on 5/23/06 8:07am
Msg #121663

Bruce: "Over 100 pages, edocs and same day" = More $$$

90% of my work is edocs and same day / short notice, Bruce. That's how I Command more money, working smarter not harder. My regular clients say they "know" they can count on me for those last-minute assignments and are willing to pay for that confidence. A large part of my advertisement is that I'll take those jobs so start to re-negotiate those fees you've been accepting and get more money.

When they ask you your fee, your reply should always be, "What's the most you can pay me?" (especially considering the last-minute requests). See how that works for you but only after you've sat down and determined your "base" fee for every zip code that you're willing to travel to. I use Melissa Data for my zip code research - it's free.

Reply by Joan_OH on 5/23/06 8:25am
Msg #121668

Today I will be receiving an overnight package from title for a closing. It will be the first overnight package I've received in 2 weeks and I sign 60-75 loans a month. Very few of my closings are overnight packages.

Get yourself a good, highspeed, dual tray printer and it will be less stressful. The difference between 50 & 125 will seem small when they are printing in less than 5 minutes. I purchased an HP 4100 (29 ppm) with 2 trays on Ebay for under $300. 10,000 toner is around $30.

Industrywide, unless its one of those docs to borrower situation, I'm not sure how many companies send out those overnight packages anymore.

Joan-OH