Posted by Marie Gilbertson on 3/29/07 5:47pm
Msg #182724

Too Cheap!!!

Hi,
I'm a Signing Agent in Central California and I have been getting my share of calls (this week), the last few weeks have been slow. However, the signing companies only want to pay $40. What? I had 3 this week that all wanted me to accept $40. I declined! I also had another company that wanted me to do EDOCS and the signing for $65. I usually charge $60 just for the signing, but will accept $50 if need be. I was wondering if anyone else has had this problem? With gas prices going up, how can they expect us to take such horrible rates? I guess there are people out there that will. Not good!!!

Reply by Calnotary on 3/29/07 6:04pm
Msg #182727

Where are you Marie, I hope you are not in my area and charging those fees.

Thanks!

Reply by Marie Gilbertson on 3/29/07 6:15pm
Msg #182730

I'm not accepting those fees!!! That's what these companies are offering to pay. When I tell them $60, they act as though I'm crazy (it was only in Jan/Feb that they were offering at least $60 too). I always decline a signing if it's below $55. Always! It doesn't pay to go to a signing when they pay so little. However, there must be notaries out there who are accepting these fees. It's not good! They are making us look like that's the most we deserve and we work way too hard for that little. Marie p.s. I live in Clovis/Fresno, Ca.

Reply by AQN on 3/29/07 6:34pm
Msg #182739

When Signing Services offer and pay only $50 for a signing, they get a signer worth $50.
I will occassionally accept a signing at a $75 signing fee, but not if there are "hoops" to jump through. Hoops like: Edocs, Excessive delays waiting for faxes or waiting for borrowers who are unprepared to sign....and signing contracts to get started with the SS that are 1" thick.
Folks, let's set the bar a little higher. These folks doing cheap signings are dragging us down. I'd do them all day at $65 if the company guaranteed me ten a day and the borrower would come to me......like that's gonna happen....

Reply by GF_CA on 3/29/07 6:19pm
Msg #182732

Re: Too Cheap!!! $60 ???? I do not start my car for that!!! n/m

Reply by janCA on 3/29/07 6:52pm
Msg #182746

just looked up your area

Marie, I just looked up your area and one notary had her stated fees. $125 for a double e-doc signing. Now, that's what you are competing against. At these kind of fees, it definitely is bringing down the rest of the NSA's in that area. I used to cover Fresno/Clovis a few years back when it was hard to find someone in that area. I got much more than that fee for a single over-nighted set of docs. Please do not sell yourself short. If you have been doing this for awhile and are confident in doing loan signings, you deserve a reasonable fee for your work.

Reply by Marie Gilbertson on 3/29/07 7:31pm
Msg #182752

Re: just looked up your area

Thanks for responding. It's great getting feedback from others who know my situation! I just don't understand these signing companies. I have gotten so many "go fix another notaries problems" signings that it's not funny. It's great for me, but these companies have just lost a ton of money that they could have pocketed. I always tell these guys that you get what you pay for. If you want to pay $40 for a signing, you're going to get a $40 job/notary. I just don't know what to do, as there are so many notaries (in my area) who are taking $40 jobs. Any suggestions?

Reply by janCA on 3/29/07 8:06pm
Msg #182762

Re: just looked up your area

You have to know your own worth. Start marketing to companies right in Fresno/Clovis area and then get on the internet and start researching as many title companies, lenders, brokers, etc. that you can. Send me your contact information through e-mail as I still get calls for that area every once in awhile. Check out the California NSA Network if you have 100 or more signings under your belt. You may be interested in a network.

Reply by Lee/AR on 3/29/07 6:46pm
Msg #182744

Marie, these folks are trying to tell you that $60 is too little. Set the bar a bit higher, for your sake & theirs.

Reply by Anthony Fernandes on 3/29/07 10:53pm
Msg #182780

I turned one down yesterday that wanted me to print e-docs and do a 60 mile round trip for a good deal less than my fee schedule
I would not pull out of my drive way for what they offerred!

Reply by MaineNotary on 3/30/07 9:19am
Msg #182812

Good timing on this thread.

I've had three calls in the past five days. One for a 1st refi w/ e-docs, for which the SS offered me $35 less than I take for that. The second was for a refi w/ HELOC. I gave my fee and the girl told them they'd go no higher than $100. Nope. The next call was from the same company, two days later. They wanted a first and second refi. I told her my fee and she said she'd find out if her SS would pay that. I'm sure they won't as they're trying to low-ball the fees.

And I've seen a trend toward that over the past two months or so. I was offered $70 for a refi that was a 50 mile r/t from me. Nope - uh uh. It's not only that I believe I do good work and deserve more. My fees are pretty standard from what I can see. But there is a point where you are close to breaking even or find out you're losing money. I don't know any mobile notary who is engaged in loan signings as a philanthropy.

My biggest peeve is with the Maine notaries who are called after I am and are accepting the low fees. You do a great disservice to us all. It's one thing to be competitive but another to accept the chaff. If you continue to allow SS's to low ball, they will continue to reduce fees and you'll find your butt in a car driving 100 miles to sign for $40. Wake up. SS's WILL pay the appropriate fee if they know they can't get you on the cheap. The fact is, they WILL pay our fees if they know someone isn't going to cave in and take $40 less. Have some respect for yourself and this profession.

HA! I just had a call to do a refi in Sebago, e-docs. They offered $85. Sorry! Can you imagine? The cost of paper, toner, wear and tear on the printer, my time, mileage to Sebago.... I'd make $2./hr. Where ever are they getting the brass ones to offer this pittance?? But some Maine notary will take it, guaranteed.

My vent of the day...

Reply by Jo Ann Grunwald on 3/30/07 9:47am
Msg #182821

Apparently some California Notaries will too!

Reply by Brad/AZ on 3/30/07 10:13am
Msg #182828

I agree with everyone. I don't do ANY mobile signing for less than $100. Companies that pay less than that get what they pay for, and notaries that are taking $65 for a signing are only hurting the entire business (including their own).

I haven't been doing signings for all that long, but I know what my time is worth. Notaries might be desperate for signings right now, but that's no reason to accept these lowball offers. It will ruin the business, especially in tough times like these.