Posted by Linda_H/FL on 11/28/06 5:05pm
Msg #162594

Opinions on fee

Just got a call for a signing - last minute (other notary canceled out) in my service area but far - 45-60 minutes one way - e-docs - faxbacks - SS didn't have confirmation yet but assumed docs were ready - says she has to call me back on fee

What would you have charged for this?

Reply by MonicaFL on 11/28/06 6:15pm
Msg #162606

Well, here's what I do. I charge as a basic fee (now) $85.00. print e-docs, $50.00, faxbacks I tell them there is a charge of $35.00 for these (most of the time they will say don't do that and that makes me happy). Also, I would add another $25 for the late call and the distance. JMO and how I would charge.

Reply by Linda_H/FL on 11/28/06 6:28pm
Msg #162610

Sounds close to what I quoted - she told me "for the future. we pay $100 for that county" - my reply: "Okay, but for the future, I don't service that county for $100"

Needless to say I haven't gotten a return call with my fee approved..<G>

Reply by MistarellaFL on 11/28/06 7:07pm
Msg #162613

Good answer, Linda.
That would've been mine too

Reply by VickiWA on 11/28/06 7:46pm
Msg #162616

Please explain to me why companies

tell us what they will pay? If we are an independent contractor and not an employee then we set our fees. I don't understand the SS statement about paying XXX in a certain county. I don't tell my mechanic how much I will pay him to service my car or the lawn service how much I will pay them, they tell me and I decide if I want to hire them or not. I don't understand. Is this business different than others?

Disclaimer: I read this board daily and use the search button regularly. This is one question I haven't gotten an answer too.

Reply by Linda_H/FL on 11/28/06 8:00pm
Msg #162618

Re: Please explain to me why companies

I wish I could answer that Vicki - maybe they figure if they make that statement we'll lower our fees to what they WANT to pay and not keep them at what WE want to be paid.

What got me was "for the future..." - this was the first call I'd ever gotten from this company and, truthfully?...at $100 per signing (with e-docs and fax-backs) I have no "future" with them.

Reply by VickiWA on 11/28/06 8:16pm
Msg #162623

Re: Please explain to me why companies

Yep I wouldn't do all that for $100 either. I recently did 2 Reverse Mortgages $100 each, that were ON docs, the borrowers were well prepared, 12 to 16 miles round trip. I felt the fee was ok but nothing to brag about. It went smooth and no fuss so I didn't mind. The hard part was I am learning RM's so I spent time researching. So I agree with you, $100 for all the extra work is unacceptable. We don't work for minumum wage

Thanks for your response. I learn so much on this board. Love the search button.

Reply by bowie_MD on 11/28/06 8:23pm
Msg #162625

Re: Please explain to me why companies

Here is my problem. I am just starting out in the business and the $100 and up companies are not calling me.
So I take what I can get.
When the better companies start to call I can be choosey.
I know you old timers hate this because I am undercutting you.
Sorry, how else does one get started?

Reply by VickiWA on 11/28/06 8:47pm
Msg #162627

My previous post was for bowie, oops N/M n/m

Reply by VickiWA on 11/28/06 8:56pm
Msg #162629

I have no idea what happened to my post.

I must be tired. Bowie, What I have learned (started my business in June) is to make a business plan, set fees and don't waiver from the plan. I did low fee signings the first month then realized if I kept accepting the low fees I would have to close up shop. I get as much business as I want for now which is part time but when I do work I make a profit. I do loose alot of work but I am making money when I do work.

Hope this helps.

Reply by Linda_H/FL on 11/28/06 9:07pm
Msg #162631

Re: I did basically the same thing, Vicki

When I first set up my business in Florida I studied this board and set relatively low fees based on the fact that I was "new" in the business (20 years as a real estate paralegal didn't matter - that was under attorney supervision) - never went below $75 though, plus extra for 3-docs..

After my first few signings my rates increased based on all the travel I'd done...then after my first 3-hour Reverse Mortgage signing, THAT fee went up (modestly). Since then I've revised my fee schedule to flat rates by home county and outside counties and have pretty much stuck to that - sure I don't get all the lower-paying companies calling any more (or not as much as they did in the beginning) but that's okay - I know what I'm bringing to the table.

Reply by VickiWA on 11/28/06 10:52pm
Msg #162649

Linda,

Why did a Reverse Mortgage take 3 hours? Just curious.

Reply by Linda_H/FL on 11/29/06 9:53am
Msg #162690

Re: 150 pages - 2 older women - phone calls, etc.. n/m

Reply by aciardoNY on 11/29/06 1:56pm
Msg #162769

fees

This is the never ending sore point.. I feel this way.
I don't get to go into the grocery store and "offer" $1.00 for a gallon of milk that they sell for $3.25 because I "ONLY" live( fill in number of your choice) miles or blocks away.The price is what it is. If I think it's too much , guess what? I WON"T BUY IT !
I am in business to make money ( like you ), SO it isn't worth my time to leave my house for less than X.
My fees are posted on signing agent.com as well as here. I don't usually charge more for end of month, but I will charge more for any email closing with less than 4 hours, EXCESSIVE
fax backs etc.
I will work with any one willing to work with me. Don't insult me buy " offering " half price for email closings, I don't get a discount on toner or paper. and I can't put that back if you cancel on me after I print.
I will NOT work for or accept any assignments that have my pay contigent on the loan funding.
I wish I had this board when I first started. I went to the signing Agent school of " figure it out "
this was before gas went thru the roof.I don't care what others do, I have my own policy.
Basics like ... I must speak to your client before I leave for the appointment. I will not waste time and gas on a maybe. Email docs are not an excuse to wait until the last minute.
Poor planning on your part isn't an emergency in my world. If docs don't show up in the window we agree on, I call that a "NO_SHOW" and I will bill for that .
I guess, as with everything , you have to decide what your time and expertise is worth. Price accordingly.
If you can network with other agents in your area and get a lead on what they usually charge, that can help.

Reply by bowie_MD on 11/28/06 9:12pm
Msg #162632

Re: I have no idea what happened to my post.

thank you for the insight

Reply by Lisa Prestegard on 11/28/06 9:01pm
Msg #162630

It's called "perceived value"...

if you THINK you are only worth $50-$75, you are only worth $50-$75.
I don't know you, and won't attack you because you're new and I am old (in more ways than one!) I will, however, give you my humble opinion (which is never very humble, btw)
So... take what you want from my post, and leave the rest

I don't care if you're new or old... been in this business ten years or ten months... if you know your Notary laws dead-cold and have done your homework with regard to the various documents you will be asked to Notarize, you are worth more than the above stated fee. Pepper your knowledge with some persistence and marketing, and you will command the higher fees in no time.

Despite what the NNA may have told you, this is NOT a 'get rich quick' business, and is not for the faint of heart. Your patience will be tested daily, and your blood pressure will spike frequently

BTW, you're in MD... do you have your TP license?

Reply by Michael Phelps on 11/28/06 9:15pm
Msg #162633

Re: It's called "perceived value"...

thank you yes
I have all the licenses and insurance and certifications I need and then some

Reply by JS_MD on 11/28/06 9:56pm
Msg #162639

Re: It's called "perceived value"...

By any chance are you Michael Phelps the swimmer?

Reply by Cassandra Andrews on 11/29/06 4:37pm
Msg #162810

Re: Please explain to me why companies

agreed. most companies accept bids from independent contractors and then decide the one they'll accept but they DO NOT start out telling them what they'll pay!!!

Reply by Debra Holston on 11/28/06 11:27pm
Msg #162650

When I get a call they ask my fee.........I in turn ask how much they're paying.......if it is more than what I charge then good if not I tell them I can not do it for less than my fee. I usually win. It is all up to you. They will use you if they can. Good luck and many happy closings.

Reply by Becca_FL on 11/28/06 9:46pm
Msg #162637

Re: Opinions on fee - Linda

I don't post my fees on this or other boards...been there, done that. There's always someone lurking in your area waiting to undercut you. You know you can call me anytime if you need a quick response.

I learned the hard way about posting fees and giving kudos to SSs & TCs that utilize my services.

I lost one today with a woman I have done many closings for because her Realtor in OH insisted she use a BancServ $50 newbie instead of me. The poor woman was terrified of the new Notary, but wanted to make her Realtor happy. She had called me yesterday to alert me of the pending docs. I told her "call me when the docs arrive and I'll take care of you, Mary." Today Mary called and was not happy that "they" were sending so-and-so to notarize her docs and her Realtor was telling her to use the notary the TC booked and NOT me. I explained to my friend (that's what she called me. She and the SO ARE neighbors) that ultimately she is paying for the service and has the right to choose the Notary that she is paying for. Poor gal, she felt so bad and she's such a sweet lady I felt bad for her.

Thing is, Mary owns many units in the condo park down here and now that she has sold her place up north, she will be refi-ing all of her condos down here...and guess what...she wants to be sure that I get all her business from now on.

Such a lovely lady. I hope the newbie didn't piss her off too much. This woman knows her stuff and appreciates an experienced closer.

Sorry so long…rambling here, but wanted to make a point. BTW, I’ve not accepted BancServ’s lowball fees for two+ years. Apparently the 20 new NNA/NSA’s in my area have no problem accepting their fees.

Reply by Linda_H/FL on 11/29/06 8:47am
Msg #162676

Re: Opinions on fee - Linda

Morning Becca - and thanks - just saw your message

I had told this lady to see if she could get my fee approved and, if they balked, ask what they'd be willing to pay and maybe we could work something out - that's when she told me she paid $100 for that county - that's lower than my fee for my home county (and I agree with you - I don't like posting my fees either) But I'm sorry - I'm not traveling 45 minutes to an hour, at night, last minute, e-docs, fax-backs (about 15 pages) for $100.00..

Needless to say I never got a call back - so they found someone else "last minute" or it never closed.

Reply by Notary_OH on 11/29/06 9:12am
Msg #162682

$100 for the gig. $25 for e-docs. $25 for extended travel. $25 for fax backs. Grand total. $175--Easy.