Posted by Karla Alanis on 3/2/07 4:30pm
Msg #177942

prices

Can someone tell me a reasonable price for our service?

Reply by Sylvia_FL on 3/2/07 4:48pm
Msg #177944

Karla
Only you can decide what is a reasonable price for your time and services. We are all independent contractors. Read Msg # 33325. Also use the search button and search on "fees" as this has had a recent thread.

Reply by TRG_wy on 3/2/07 5:52pm
Msg #177951

The post referenced has excellent advise to be sure (that is why it always referred to) but it does not cover the question asked here and by many other Newbies. No wonder they are accepting these low-ball fees of $40-$50 dollars and setting a very bad industry standard. Experience or not, those fees are unrealistic and rather than keep telling people to set their own fee is only helping to spawn the number of low-ball offers out there.

Fees should be based on experience to be sure but don't sell yourself short. Consider setting $65-$75 as your bottom line figure for overnight docs. Edocs should be $35. Add to that the two cents I just gave and you might just make it in time.

Reply by Sylvia_FL on 3/2/07 7:09pm
Msg #177961

Timothy
As independent contractors we have to set our own fees. What may be reasonable fees for one signing agent may not be reasonable to another. I suspect those that are accepting those low ball fees don't frequent these message boards, or they are in very oversaturated areas.

Reply by Alan/IA on 3/2/07 7:34pm
Msg #177965

Karla, a reasonable fee depends on the exact service you are providing.
I'm in Iowa, where fees tend to be a little lower than other parts of the Country.
But for a 2nd/Heloc only, I charge less than a first mortgage, as it is less pages, less time, and usually very easy to do.
If I am doing a 1st and 2nd together, I give a small discount to the 2nd mortgage signing, as the travel time and signing time are shorter for me.

The more work you are expected to do, fax backs, finger printing, multiples of multiple documents, anything else, I take into consideration as well.

I typically charge $100-$150 depending on how far away the signing is for 1st mortgage.
and typically charge $75 for 2nd mtgs, $25 for edocs.

But for a 1st & 2nd combo, I usually charge around $200-$250.

The biggest decision is, how much is your time worth? You may be willing to take a lower fee at first due to experience, or to build your relationship with a SS or Title Co. But it basically comes down to how much is your time worth and how badly do you want to take a signing.

Never sell your services short though, just to get a signing...
If you take too little in fees, it becomes difficult to get more later.

Reply by TRG_wy on 3/2/07 9:41pm
Msg #177983

Very well put Alan. I agree 100%.

What Sylvia stated is true, "we have to set our own fees. What may be reasonable fees for one signing agent may not be reasonable to another." But I would go one step further and say that $40 is crazy no matter what; even in a saturated market.

Reply by sue_pa on 3/3/07 8:03am
Msg #178056

fingerprinting on a loan doc order??? n/m