Posted by notarytoday on 7/9/07 4:24pm
Msg #199079

Is this your full-time job?

I've just moved to a new city and updated my notary contacts. I hadn't been able to find a job so I thought I would do this full-time. I get hired by someone and now I'm getting calls for closings. I don't know whether to be a full-time notary or keep the job I'm not crazy about.

Any advice?

Reply by Lee/AR on 7/9/07 4:30pm
Msg #199082

Do a zip code search & see how much competition is in your area. Do the calls you've been getting (& I'm guessing--having to turn down) pay as well as your FT job, factoring in costs, taxes, benefits, etc.? Your call.

Reply by notarytoday on 7/9/07 4:32pm
Msg #199084

There are only 4 notaries listed here in my zip. Are you full time? Is it beneficial for you?

Reply by Linda_H/FL on 7/9/07 4:42pm
Msg #199088

I think only you can answer that - (1) Will this be your sole source of income? If so, do you have enough of a cushion to get you through the down times? (2) Do you need health benefits? (3) Can you make enough money doing strictly notary work (and loan signings) to pay your bills? (4) Can you deal with the times when no money comes in or are you in a position where you need that weekly guaranteed paycheck? (5) Are you ready to spend mucho hours a week on marketing ad nauseum to make sure you keep those connections open and those jobs coming while looking to create new opportunities. Also remember there's no taxes withheld (unless you pay into them quarterly) AND no social security paid (unless you make your own arrangements to pay based on your income). You'll need to deal with that aspect also.

Only you know your situation, your competition, your market, and whether all of these can support your lifestyle and cost of living. However, we've seen many posts about the state of the market so you need to take that into consideration too. Not only is the market slowing but many companies are lowering the price they'll pay signing agents.

All of this is, of course, my opinion, but whatever you decide, good luck and success to you.

Reply by Sylvia_FL on 7/9/07 4:49pm
Msg #199092

What is your zip???

Reply by Lee/AR on 7/9/07 4:55pm
Msg #199093

One other thing that nobody ever brings up

Is that this whole business really is a numbers game. If you're in a sparsely populated or very rural area, that's going to impact your business (or lack of it). A guess--but a minimum of 1/2 million people/notary in 'your' service area isn't too far out of line for this to be a full-time income. The more/the better. Less than that--you have a problem. You can get this info from the US Census data by county.

Reply by Loretta Reed on 7/9/07 5:16pm
Msg #199095

OMG.. use the orange button and find out for yourself....

This is a cut-throat business and most of us full time notaries are now doing this part time.

Reply by Bing on 7/9/07 5:38pm
Msg #199104

I agree with Loretta. I used to be full time....

Signing business is very slow in the Las Vegas, Nevada area. I used to get no less than 15-19 signings in a week, now it is down to 6-10 on the average...I even get weeks where there are only two or three.

I have started a software consulting business teaching people how they can save on their mortgage and owning their homes free and clear in as little as 8-12 years without making any changes to their financial status and very little or no change to their spending habits. I am exhausted!!!

Last night, I did presentations until 9:00 pm, picked up my nephew from the airport and continued with another presentation...until 2:00 am. I went to bed really exhausted at 2:30 am. This morning, I started with my first presentation at 9:00 am through 12:00 pm...Left for signings, then did a presentation at home again at 4:00 pm and now I have to tell myself to hold off the rest 'til tomorrow. My weekend is already booked until Monday.

I will be making more money in this business than if I continue to continue concentrate on being a signing agent. I still do signings...it is good money, but I chose who I work for because I have better area to spend my time on now. I spoke to some signing service owners who have closed their business due to the drop in the number of orders coming in...It gets to be too expensive to continue to run their businesses. Some of them have decided to become loan officers. That is why, even though signing is still OK, I ventured into other areas just in case it gets even worse where it will be too difficult to earn a living.

I find that some signing agents are charging $45 for a standard refi...$65 for
e-Docs...what??!!! To each his own, but we have these people to thank for, for the downfall of this industry. They can go ahead and do that...I have better things to do. There are plenty of companies who still remember the quality of my work and still call me but I have no patience for penny-pinchers. I love meeting people and I still want to continue the signings, but I love the fact that I am making money and not have to feel that I have to compete with others to earn my living. There is a lot of room for my new business and I can expand anywhere in the entire United States...my customers are my own and no one else can tap into them...once they become mine...not like being a signing agent where my clients can be someone else's clients...and someone can undercut me if they want. I am through with that. If a company wishes to use me, I will dedicate my time and effort 110% into doing it right, but I will not bend the rules for them. It's either you use me or you don't.

I would like to encourage everyone to not stop here...find a new niche and branch out. Do not stop being a signing agent (I won't) but do not depend on it 100%. It might go back to the way it was in 2004-2005, but it will be awhile before it does.

Sorry to bore you with this...it has been awhile since I last visited. I just want to let everyone know that I am still around and I am doing OK. Take care everyone and Good Luck to all!!

http://www.u1stfinancial.net/GlenaDee

Reply by BrendaTx on 7/9/07 7:08pm
Msg #199118

Re: One other thing that nobody ever brings up

I have noticed that many people do not understand that this is a finite business. # of mortgages /divided by/ number of signing agents doing them and then determining how much of that business you can get and still make a profit.

It doesn't make a fig how Houston, TX or Orlando, FL or LA, CA is doing, what's important is how fertile is YOUR area for business.

Reply by CJ on 7/9/07 7:14pm
Msg #199120

Re: Finite busines:

I sure understand this is a finite business, so I never tell my friends or anyone else about. If you do decide to be a notary, DON'T TELL ANYONE. They will just want you to show them how to do it, and they will be dipping into your pocket.

Reply by Loretta Reed on 7/9/07 7:28pm
Msg #199122

Re: Finite busines: I had a friend that told someone

She was the notary doing a closing and the borrower asked her about it. Well now the slob is doing closings here and I have heard that she meets people in local bookstores/libraries in jean shorts and t-shirts, make multiple mistakes and we are the "clean-up crew".

Reply by BrendaTx on 7/9/07 8:09pm
Msg #199127

Re: Finite busines:

**I never tell my friends or anyone else about. **

Good advice.

Reply by CJ on 7/9/07 10:33pm
Msg #199144

Keep your job to yourself.

A woman in my area was a signing service long before I was. She taught my stepmother how to do it. It did not matter becuse my step-mother lived somewhere else. Later, my stepmother taught me, because I lived in another somewhere else. But then I moved to where I am now, and I am competeing with the woman who taught my stepmother.

You never know. I might tell someone far, far away how to do it, and then will tell their cousin who lives down the street from me. I don't tell ANYONE.

Also, when I tell someone far, far away, I am hurting my fellow notaries over there. I don't want them telling anyone in my territory, so I keep it a secret.

If it does slip out, the first thing people say is, "Wow, this looks like a fun little part time job! Is it LUCRATIVE? And you get to set your own hours? And they reimburse you for gas? How do you get your clients? This would be perfect for my [relative] who is unemployed!"

Then if you don't tell them how to take your job and your money, they think you are mean and selfish.

Reply by spnotaryplus on 7/9/07 4:37pm
Msg #199086

"I hadn't been able to find a job so I thought I would do this full-time." "I don't know whether to be a full-time notary or keep the job I'm not crazy about"

Maybe I'm reading this wrong but if you haven't found work yet, how can you be unhappy with your job?

Either way for anyone in this situation it's a tough call to make. You have to take in account your current situation and see if you like running around and making decisions to accept/deny closings. Also as some have said on this forum..."one has to have a thick skin in this business".

Reply by Linda_H/FL on 7/9/07 4:45pm
Msg #199090

(S)he said "I get hired by someone and now I'm getting calls for closings"

Reply by Stephanie_CA on 7/9/07 5:35pm
Msg #199102

Re: Is this your full-time job?KEEP THE FULL-TIME POSITION

slowly build your Singing Agent Clientele. Once you feel comfortable with the income, then & only then can you think of doing singings full-time.
Oh By the way - this is just my opinion.
I am very happy with my full-time position - Vacation Pay, Healthcare benefits, 401K Plan, a steady consistent income. I do suignings during the evening hours & on the weekends.
(Being careful to do only a few, so I don't cut into the business of the full-time notaries.)
***While many will say this is a cut-throat business, I do have respect for other Signing Agents - especially thiose that rely on income from signings ONLY.
I'm sorry that was so long - I just got going. Be thankful we're not face to face - Once I get going...I'll stop right here.
Good luck with your endeavors in this industry.

Reply by Stephanie_CA on 7/9/07 5:36pm
Msg #199103

Re: Is this your full-time job?Sorry about all the typos. n/m

Reply by Christine Hall on 7/9/07 6:13pm
Msg #199110

I agree with what everybody else said. I used to be able to do this full-time, now I am lucky to get 5-7 a week. When it started to get slow I learned medical transcription and now do that from home online during slow weeks. It works well because I can work (MT) when I want and be home and available to take any signing calls that come in and do them if the pay is acceptable. My point is if you are not sure, maybe find another part-time flexible job for now and see how busy you will get doing signings before you commit to a full-time regular job.
JMHO

Reply by ZeeCA on 7/9/07 6:21pm
Msg #199111

Re: Is this your full-time job? CH: ck yr pm n/m

Reply by Sharon Taylor on 7/9/07 6:54pm
Msg #199114

Yes, but not right away

When I started, I held down a full-time office job. Then I was offered a chance to work with a fun team on an exciting limited-durations (about 3 years) project which would utilize my problem-solving skills and independent nature and also be quite flexible as to days and hours. Gradually the closings increased, and by the time the project came to an end, I realized that with increased marketing as a Mobile Notary and by careful budgeting we could survive during the time it would take to turn it into full-time work.
Mind you, my husband was working during all this time at a job that provides our health insurance.
This is a moderately populated area. The other day I read that there are about 68,000 people in the main county I cover. The other 9 counties range from 20,000 to 40,000 people maximum. Because of the comparatively low population, I have to cover a lot of territory to meet my bottom-line fees earned goal each month. Luckily I enjoy driving, at least most of the time.
Personally, I recommend staying with a job you're not crazy about for now while you market, market, market and market your mobile notary availability. If that's a full-time job and interferes with your ability to take closings, and if you're getting enough calls that you can afford to do so, look around for a part-time job and keep that for a while so you at least have some regular every-week income. As the income from your notary work increases and the checks start coming in, you'll reach a point where you can let go of your part-time job and concentrate on full-time notary work.
One other thing - try to meet the other notaries in your area, make friends, see if you can find out what they typically charge...and charge the same fees. You don't want to price yourself over what the standard fees are for your area, but you don't want to charge too little either, which would be shortchanging yourself and those other notaries.

Reply by Loretta Reed on 7/9/07 7:03pm
Msg #199117

Re: Yes, but not right away

If you try to network with another notary around here, you'll get squashed. I have 2 friends here that are notaries and we cover a wide range of areas so we are all within 1 1/2 hours of each other from time to time.

Reply by CJ on 7/9/07 7:12pm
Msg #199119

Re: It's my full time job, but . . .

I work days, nights, weekends and holidays. I take EVERY job, and my husband complains that he feels like he is single. I usually get home at 10:00 at night. I workThanksgiving morning, Christmas Eve, New Years day, and all those days that everyone else has off because: Signing agents work when other people are home. Even though I am a workaholic maniac, I see the jobs slowing down, and I am looking for something else to do to fill up the time and make more money. We paid off our mobile home, we drive clunckers, I shop at thrift stores, and we never take vacations, so technially, doing this full time pays my bills. My husband is self-employed too, so we are both gone on Saturdays, so he doesn't complain about that. He likes to cook, and the kids are grown, so I don't have to be home at night. We pay for our own benifits.

Reply by Sharon Taylor on 7/9/07 7:15pm
Msg #199121

You're right, unfortunately

I used to network with 3 other notaries in my area, two that worked together as a team and one guy. All have left the business - one had a full-time time and then got involved with a social organization that took all her free time, one has a muscular disease that got worse over time, and the third got tired of all the BS we have to put up with and started an entirely different business (he's doing well at it too).
I did end up meeting 3 other notaries from my area several months ago, but none were at all interested in networking, and only one chatted with me. Sad, sad.

Reply by Bing on 7/10/07 7:09am
Msg #199159

I have decided to start another business...

I will surpass my notary income in no time. As of now, I am not planning to stop the signing but eventually I will. I am tired of companies calling to ask me to do a signing for $45/$75 for an e-Doc...I feel like asking them, do I have the words written on my website that says' "FREE?" or, "I did not realize that I have that on my forehead also." Hell no!

One signing company who used to pay me $125 per e-Docs signing asked me to do it for $75...I said , "NO!???" He said $85 then? What is wrong with these people? It is my gas, my time, my printer, my paper, deal with the traffic and be stuck for 20-30 minutes on the road on top of the travel time that you need to get to the signing and they think that I will accept the meager fee?!!! I would rather give my money to students in the Philippines who are struggling to survive. I slave for the money I earn. I am not a sloppy signing agent and I take pride in what I do. That is the reason why I became the top signer for some companies in the area.

Glena
www.u1stfinancial.net/GlenaDee

Reply by Teddog/CO on 7/10/07 9:37am
Msg #199179

Bing

Sadly, there are so many Low-Ballers willing to work for those rediculous fees out there it's not a bad idea to expand your horizons. I completely agree with you "it get's really old and really fast" listening the "Notary Auction" from some of these companies. It is a way to expensive to do our job.

Have a great week.

Reply by ME/NJ on 7/10/07 12:30pm
Msg #199198

It was for years.. Now it maybe a PT gig now

Been doing this for a few years FT, but 2007 hit rock bottom around this part of NJ (at least for me) and I can not live on 1 good week a month. I just took a PT job while looking for a FT job.

July is about even with last year.. Always a big vacation month so it hurts the bottom line. I dont see the market turning for at least another year maybe 2 in this area. I rode out 4 lean months this year and just cant do it any longer. So once I have a FT gig I will do this PT for some extra cash if I have the time.