Posted by Loretta Reed on 5/24/07 3:33pm
Msg #191804

Hey you, new girl in my area....

A friend of mine called you today to see what your rates are. You are very new with no experience in closings and charging accordingly. 50 miles one way for $75, boy, you are going to be out of business before I can drive to Salisbury. By the time you pay for gas, you have made enough for McDonalds. Heck, after a few months, you are going to make more working for McD's than doing closings.

Shame on you, newbie, for making us Maryland Licensed Title Producers work even harder for the fees that we have to pay the state to stay in business.

Hey, Sign on the X, here's a new one for ya, go get her.

Reply by Charm_AL on 5/24/07 3:37pm
Msg #191805

I feel your pain, I have a few in town doing this part time after work, another as a hobby, being retired. I KNOW!

Reply by Blueink_CA on 5/24/07 3:59pm
Msg #191811

I was at a signing recently and Mrs Bo kept asking me questons. Not about the loan, but 'what was I writing in my book?', 'Why didn't I give an oath?' (it was an ack), 'how many companies do I work for?' and on and on.

Well, it seems she was a new grad from a Notary loan signing course. She asked me how I get business and I explained that I had been doing this for a long time for the same clients. When I mentioned it was tough to start now because of the industry being oversaturated and loans being down, her reply almost floored me.

"Oh, our instructor told us to bid low just to get experience and then raise our rate!" Poor borrowers.

Reply by Becca_FL on 5/24/07 4:19pm
Msg #191818

Re: Hey you, new girl in my area....Blueink

Shame on the NSA pimps out there...and you know how you are.

Reply by Becca_FL on 5/24/07 4:20pm
Msg #191819

s/b WHO....whoops :) n/m

Reply by PAW on 5/24/07 4:36pm
Msg #191825

How works just fine too! n/m

Reply by Becca_FL on 5/24/07 6:55pm
Msg #191863

It sure does, Paul. LOL n/m

Reply by Loretta Reed on 5/24/07 7:07pm
Msg #191865

One notary here (retired gov't employee) is doing email docs for $100 (up to 100 miles one way). This is his beer money.
This girl that I am talking about in the original post told my friend today that she went with another closer in this area on about 25 closings and has prior experience in the "finance industry". What was she, a bank teller or a secretary for a local bank, I don't know.

Reply by Becca_FL on 5/24/07 3:53pm
Msg #191810

Loretta,

I too feel your pain.

I've got a few newbies in my town, I mean brand, spanking new. To the one that took the $65 edoc closing yesterday...I hope you get paid. It's the part timers that really pizz me off, all they see is "extra" money. Forget that they are polluting the market for those of us that try to earn a living doing closings.

Thank God for the Florida NSA Network and my fine base of clients.

Reply by EastTxNotary on 5/24/07 5:18pm
Msg #191840

On the flip side..

Got a last minute call for a 7pm signing yesterday because the originally scheduled notary backed out at the last minute. Her excuse? She had to watch American Idol! Wonder if she's a part-timer doing this for a hobby?

Reply by Lee/AR on 5/24/07 6:05pm
Msg #191849

Re: On the flip side..

By the time she figured out how much time it took and how much it was going to cost her- and how little she'd make (if anything)--she probably figured watching American Idol was time much better spent. Wish they'd all wise up.

Reply by BrendaTx on 5/24/07 6:21pm
Msg #191853

Somebody tell me who offers $45! Seriously.

That's crazy. Is it that nutty company nationwide whatever?

Reply by Lee/AR on 5/24/07 6:36pm
Msg #191859

You're very close to the name, Bren....

Sometimes they even mean it. Tho', as I believe you've pointed out, just because they offer a silly low fee and don't call you back does NOT mean they actually found someone to do it for their $45... it just means somebody will take $5 or $10 less than you quoted.

Reply by ZeeCA on 5/24/07 9:41pm
Msg #191897

Re: Somebody tell me who offers $45! Seriously.

worse there are two people on NR that openly admit to taking them... they say they stay busier than anyone else cuz they get so many............

Reply by Sylvia_FL on 5/24/07 10:20pm
Msg #191901

Re: Somebody tell me who offers $45! Seriously.

They obviously haven't figured out it pays to work smarter, not harder. They obviously don't value their time. They don't realize they are hurting the profession by lowballing.

Reply by JK/TX on 5/24/07 10:40pm
Msg #191905

Re: Somebody tell me who offers $45! Seriously.

Yes, some SS say, "Want more closing? Lower your fee." Why would you want to work twice as hard for 1/2 the price.........? And putting fees aside, this is a very IMPORTANT phase of the loan, funding AND INSURING process..... think about it.... ?..... is $xx all your services are worth? AND when you sign borrowers/sellers up you are bound to this transactions forever, it's not DONE when your check arrives in your mailbox......

Reply by Nicole Clement ClementClosingServices on 5/24/07 11:48pm
Msg #191917

Re: Somebody tell me who offers $45! Seriously.

You go girl... I refuse to lower my fee... Loretta and I talk about this a couple times a week... and in Maryland, it's a shame the state isn't regulating those closing without a TPL license... I refuse to work for a lower fee, I would rather have fewer closings then accept a lower fee... they should all read the book , " Walk in my shoes..." Those accepting closings for a lesser fee are not doing a service rather, a job. I guareentee the borrower doesn't know what their signing...