Posted by Loretta Reed on 6/28/07 7:38am
Msg #197387

Just giving my 2cents worth....

With all of the great information (this site being, in my opinion, the most imformative site and the just point blank the best site for notaries). Why would someone come here and ask what are fees are and how to learn the business? I'll tell you why.....think about it....

New notaries come here to find out what are fees are to low ball us so they can have play money. This is not a new "get rich quick" scheme and this is not 7 years ago just before the market was getting ready to get everyone rich. We have to fight tooth and nail to get good pay and then have someone undercut our fees makes me absolutley livid. I know of 1 full time notary here that is taking on another job after years of doing 2 to 3 a day for several so she can just live and now our no experienced low-ballers have moved here and decided that they are going to do edocs for $75 and try to push all of us out of the way. Even with the licensed requirements that Maryland has and the outrageous fees we have to pay the state to be licensed, how can they possibly stay in business.

I have been doing this full time for 11 years, I have paid my dues, I did my homework, and did it on my own. Thank goodness, I have clients/attorneys/lenders/title companies (no signing companies), that call me faithfully and do not call new people in the business, they are not interested in babysitting and I do it right the first time. (not that I haven't made mistakes but I can count on one hand in the last 11 years that I have had to go back to the borrowers home and have anything resigned)

Just my opinion, but to us full time people, I believe it is valid.

Reply by Nicole Clement ClementClosingServices on 6/28/07 8:12am
Msg #197393

very well put. I agree with you completely. I have been the nice person and got people in this business when it was busy. Most of those people are good people, but some have stabbed me in the back by going after my clients. We both know who in our state just lowered their fee because their not getting any business. Like you Loretta, I am not perfect and can count on one hand how many errors I have made. It is good that we have loyal clients. The signing companies that only want to pay $75. and an agent will do it for that, well I just have to say one thing, like anything, "you get what you pay for". Love ya girl.

Reply by Loretta Reed on 6/28/07 8:14am
Msg #197394

HAPPY BELATED BIRTHDAY NICOLE.....

THE BIG _0!!!!

Reply by Maureen Lazar on 6/28/07 9:07am
Msg #197409

It is my belief that you get what you pay for. My best advertising has been word of mouth locally. On the net sometimes it is harder but... keeping your website up to date is easy but, towards the top of the search engines is sometimes tough. Knowing your job and self confiedence will keep us full time Notaries in business.

Reply by goodgirl on 6/28/07 11:14am
Msg #197428

I agree with you all. Think about it - how many times have you received these "mass mailings" from a co saying, "So and so lender has advised us that there are a lot of mistakes being made on loan docs, and so we wanted to remind everyone that you need to remember to notarize this, this, and this, and don't forget (whatever else they say)..." This indicates what you all said - you get what you pay for.
I did a closing a couple months ago. It was a "clean-up" job after the first notary made a real mess. She, who told the couple she had been doing this work for 11 years, left the borrowers NOTHING BUT 1 RTC and a TIL. That's it - nothing else. In addition, she forgot to notarize 3 other pages in the package.
Like you said, "You get what you pay for."

Reply by ZeeCA on 6/28/07 11:27am
Msg #197429

Great post and it annoys me also the ones that get all huffy and whiney and pissy when they feel entitled to have our information just handed to them so they can play at this.

I also take note of the ones that give them the information and and say we are all sooooo mean.....

thx for the posting

Reply by Loretta Reed on 6/28/07 11:44am
Msg #197431

A local full time notary friend of mine got a call this morning. The title company (yes, I said title company) called her and wanting her to bid on a closing in our area. Someone gave a bid of $125 email docs for a 1st and 2nd. They wanted to know if she would go lower. She said no but she would like to have the number of the one that "bid" that low on a 1st and 2nd edoc closing so she could call and thank her for making this business really suck.

Reply by Lee/AR on 6/28/07 12:02pm
Msg #197435

What blows me away about this scenario...

is that a Title Co. is out there looking for the cheapest notary or SS they can find (and there's almost always one around who 'does notaries'). Then they get upset about the mistakes made; add 14 pages of elementary instructions; penalties; send everybody in their database emails about 'errors made'. Makes me wonder what, if anything, goes on in their brains. They have nobody but themselves to blame for this--and they just don't seem to 'get it'.

I bought (thankfully) only a ream of some cheap paper someplace ONCE years ago---and wound up throwing it out as it was that bad. ONCE is all it took to learn. Yet they keep making the same mistake over & over. Hello?

Reply by PCasey/CO on 6/28/07 1:44pm
Msg #197469

There is another way to look at this also. When I was first starting out the HARDEST thing for me to get any information on was what to charge because no one does want to share any information. I found the information on the NNA website but I thought that was to low so I adjusted a little and I still found out I wasn't charging enough so have revised my rates a couple of times since then. If it was easier for notaries to find what the "going rate" is (or at least a ballpark price) in their area they may be more willing to charge ithe same rates. Those that choose to lowball their competitors...well, as everyone has said, you get what you pay for.

Reply by ZeeCA on 6/28/07 2:04pm
Msg #197477

see charles prev post as to why this cannot work..... part of being in business is doing research to find out different things....such as cob, what your area will bear....

Reply by Frenchie/TN on 6/28/07 2:05pm
Msg #197478

I agree with PCasey, there will always be people who will try to undercut and that's true of many businesses. In the case of Signing Agent fees, I would think that knowing, or having an inkling of what others charge would only encourage others to charge more if they have been undercharging. Why would you accept $40.00 or $50.00 for a signing if you know you can get and should get much more?? The NNA publishes a $50. to $65. suggested rate so new SA's would never know they should be getting more were it not for forums such as this one.

Reply by Rachel/ORWA on 6/28/07 4:29pm
Msg #197517

Re: I agree w/PCasey; however, it's a damned if you do,

damned if you don't sort of situation. I have shared fee information with a couple of experienced NSAs who were kind enough to share knowledge with me when I was getting started. In one case, all this accomplished was for me to start getting undercut only slightly instead of significantly... and I'M the "newbie!"