Posted by Pamela on 1/8/07 9:30am
Msg #169823
Has Anyone Thought
that when many "newbies" (and "wanna be newbies"
read the various boards, and see that agents are completing
200 to 600+ signings a year (and that some have turned down work,
due to "overload", that this is adding flame to the already burning fire?
Think about it.
They are being TOLD by XYZ that new signing
agents earn $150 and up to start.
$150 X 200 = $30,000; $150 x 600 = $90,000 (FIRST YEAR)!!!!
Now, they are READING, that this is a Very profitable profession.
Much money to be made in "them there stamps"!
(Remember, people tend to pick and choose
what they want to hear and read. Often times, the negatives of a given
business, are usually overlooked or downplayed by those just entering
the field.).
Any wonder why there continues to be an influx of new folks?
(Note: I am just addressing the issue from a "newbies"
perspective).
Pam
| Reply by LawrenceOK on 1/8/07 9:53am
Msg #169824
It is unfortunate that some organizations misled so many down the path of opportunity, quiting jobs on a pretense of the "BIG BUCKS" . It is indeed fictitious that "new signing agents" can earn $150 and up. We all know that many SS's DO NOT pay more then $75 w/e-docs to newbies.
| Reply by Stuart Posner on 1/8/07 9:57am
Msg #169825
Re: Has Anyone Thought...very true but people hear what they
want to hear and disregard the rest (la la la...there is a song there, but let me go on)...In yesterday's paper (the Las Vegas Review Journal), there was a story (don't know if it was a UP/AP story) about the many many many new students in the culinary field and how deep in debt they are. They were talking that most of them see the 'stars' i.e. Emeril, Rachel Ray, "Top Chef" "Hell's Kitchen" etc and expect to make fortunes right out of the box. What they fail to realize is that Emeril, for example did not spring out of the ground doing "Bam!", cooking in front of adoring audiences and making a fortune. He spent years and years learning his craft, often times at low pay and long hours, BUT HE LEARNED. My background is also in the chef game. In the 80's (long before the plethora of cooking schools), I got my training at Metropolitan Community College and was trained as a Culinary Arts Major/Restaurant Manager. BUT, I knew that the 2 years I spent was just a start. I knew that, once I graduated I wasn't going to go out and run a 5 star restaurant and make a fortune. I knew that I was ready to become a prep cook, a sous chef and learn my craft. I was ready to work HARD, LONG hours in a profession I enjoyed and MAYBE, if I was good enuff, I would have my own place.
This is the same mindset of many newbies here (obviously not you Pam, and not everyone). They see the survey of previous days, see how much was made and think..."WOW" This is a gold mind. But I hope they also read MY input and others. I have been doing this for 2 years now and last year did less than 100 signings. Then there are people who have done this for 1 year and done 600 signings. Are they better than me....no, there are many reasons why this one does better than this one (location, location, location...the number of agents in the area are just two of the reasons).
Anyway, I didn't mean to have motor mouth, but just wanted to say that, no matter what we say, there are always "gullible" people who will believe anything. (Don't confuse me with FACTS, my mind is made up!) There is one person on this board who comes to mind, but I wont mention his name. As long as human nature being what it is, NNA et al will always have some dumb shlub believing that 'there is gold in them there stamps!" (to use your words)
Have a great 2007, and I hope and pray that in January 2008, I can report that I did 400-600 signings in 2007 (from my mouth to G-d's ears!)
"Doc"
| Reply by MelissaCT on 1/8/07 10:14am
Msg #169826
My hubby & I were just discussing this (chefs)
the other night. His childhood friend is a chef in VT & was saying that the "newbies" don't have a clue what they're doing. They think that because they can put on a paper hat & that they have a piece of paper, that they can cook. How amazed are they that he doesn't even have a high school education, let alone a paper from chef school & that he's running the kitchen & he's their boss!!
Hmmm, sounds similar to our profession...
| Reply by MichiganAl on 1/8/07 10:51am
Msg #169829
Yep, that's one of the reasons I didn't post my numbers
It's completely misleading. Of course, the people with decent numbers post their totals. But the other 10,000 people with not so good numbers don't. I'm sure it contributes to the frenzy.
| Reply by Susan Fischer on 1/8/07 11:18am
Msg #169833
Re: Yep, that's one of the reasons I didn't post my numbers n/m
| Reply by Susan Fischer on 1/8/07 11:22am
Msg #169836
Oops. There are many reasons not to post 'numbers.' n/m
| Reply by Dennis D Broadbooks on 1/8/07 11:19am
Msg #169834
And Sometimes the People with "Decent Numbers"...
...may be embellishing their totals for their own self interests as well. Not to discredit or disparage anyone in particular who may have honestly posted their data, but it would not be "stretching" it to suggest there are those who wouldn't have the slightest misgiving about inflating their bottom line numbers to either satisfy their ego or for some perceived monetary gain (i.e. they believe they can impress a company reading the message board into thinking they're competent & capable). JMHO...once again from personal experience.
| Reply by cassiewi on 1/8/07 11:35am
Msg #169837
Not really sure my numbers were decent.
But I'm happy with it. I found it interesting to see what others did, and I hadn't really thought about the negatives of posting it. I'll take more care in the future.
| Reply by John_NorCal on 1/8/07 11:42am
Msg #169840
Re: Not really sure my numbers were decent. I didn't
post numbers either. I didn't have that great a number of signings, of course for 12 weeks I was in tax land preparing returns, then seminars to improve my knowledge and 3 other weeks I was not available due to my son's wedding. I could have increased my numbers significantly had I been willing to do the $50.00 signings or $75.00 e-docs, but I am not about to run a charitable organization. Looking in my area of operations, there are over 1600 signing agents listed from N.R., and that is only in 5 zip codes. I feel it is not the numbers per se, but rather the quality of the assignments.
| Reply by VickiWA on 1/8/07 12:25pm
Msg #169843
Re: Not really sure my numbers were decent. I didn't
To give some a reality check, I didn't do any sigingings in October or Decemeber. I started my business part-time in June '06 and did expect to do more work. If I was willing to do the $75 edoc signings I would be busier and some weeks I do have limited availability. Fortunately I don't depend on this income. I grossed about $3000 from June to December. Nothing to be proud of just want people to know how little this industry can pay.
It seems that reading the forums gives one an unbalanced view of this industry. The horror stories seem to out weigh the good experiences and the ones making the $$ will post when the ones who aren't making as much stay silent. JMHO and observation.
I have learned tons on NR so thanks to all.
| Reply by Life Saving Services - Doug on 1/8/07 1:38pm
Msg #169857
Re: Not really sure my numbers were decent. I didn't
So how about a post of horror stories. I started in May of 2006 and have made maybe $1500.00 from Loan signings. But I am a Realtor and became a Notary because our office does Notaries as a marketing tool. We had a couple Notaries drop out so I stepped up to the plate to replace one. I knew I would not make more than lunch money but my motive was not income.
As I took my classes on the radio there where ad's claiming 100K the first year as a Notary Public. Wow I should quite my day job........ NOT !
| Reply by Sharon Taylor on 1/8/07 2:02pm
Msg #169862
# of signings @ X minus expenses = not so profitable!
These newbies and wannabees are hearing the gross numbers, the amount of the fee, which is NOT their net income. There's auto wear and tear, auto equipment replacement (tires, oil, etc.), auto repairs, auto replacement someday since it will wear out a lot quicker due to mileage travelled. Oh, and don't forget the gas! There's phone expense - high cell phone minutes required and some L.D. calls and faxes on your regular phone too. There's 2 printers - all-in-one inkjet and a laser, along with paper, toner, ink cartridges, as well as eventual repair and/or replacement of those printers when they break down and wear out. There's taxes, of course, since you're an Independent Contractor, and yes those title companies and signing agencies do indeed send 1099 reports to you and to the IRS in January of every year, so the government knows what you're making, and you'd better include it on your income tax return. Office supplies, naturally - file folders, file cabinets, pens, a briefcase, binder clips, notepads, etc., etc. And a small but adequate wardrobe of office professional clothing, which will require drycleaning and eventual replacement. Oh, and computer connection - sure, you're on the computer anyway, but you really require DSL speed at least, so if you don't have it, you'll need to get it...and pay for it. Now calculate the hours you spend on the phone, on the computer, on the fax, driving, at the closing.
And you don't get ANY company benefits paid for by any of the title companies or signing agencies you work for - no insurance, no paid vacation or sick days, no retirement contribution. If you get it, it comes out of the fee you're paid.
Ummmmm, not so profitable after all. The main benefit is independence, but the price is highly erratic hours. You have to be very flexible and easy going, roll with the punches, have a can-do attitude, and enjoy trouble-shooting and problem solving.
| Reply by JanetK_CA on 1/8/07 11:44pm
Msg #169965
Very well said!! n/m
| Reply by aciardoNY on 1/8/07 2:51pm
Msg #169871
I agree that the field is made to look more attractive than it is. ... But if you want to run your own business it's up to YOU to do your own research to see if in fact this is for you.
I tried many things for many years until this oppertunity presented itself. It fits me perfectly. It isn't without its downside, but what business doesn't ?
I like that I can work around my kids, But the price I pay are sometimes off hours, not steady work, sometimes having to chase after what I'm owed, wear and tear on my car gas ( love that one ) late and or no show docs.... and the list can go on forever
Bottom line is .... you must make an informed choice. It isn't for everyone.
| Reply by aciardoNY on 1/8/07 2:51pm
Msg #169872
I agree that the field is made to look more attractive than it is. ... But if you want to run your own business it's up to YOU to do your own research to see if in fact this is for you.
I tried many things for many years until this oppertunity presented itself. It fits me perfectly. It isn't without its downside, but what business doesn't ?
I like that I can work around my kids, But the price I pay are sometimes off hours, not steady work, sometimes having to chase after what I'm owed, wear and tear on my car gas ( love that one ) late and or no show docs.... and the list can go on forever
Bottom line is .... you must make an informed choice. It isn't for everyone.
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