Posted by ME/NJ on 11/20/07 5:04pm
Msg #222207

Just wondering

Do you ask your doctor to lower his or her fee? What about the repairman who comes to your home and hands you a bill, or the cable company.

I hate to haggle - here is my fee a simple yes or no is good. I do not like well it's only X amount off your fee. My thought is well if its only X amount why not just say here you go and I'll send the confirm.

I know times are tough, but I now also know some notaries in my area do not do this full time any more. Business has picked up and is rolling again. ( I think its the lack of people doing closings)

So do you haggle.

Reply by Kari_M on 11/20/07 5:25pm
Msg #222216

I'll discount my fee up to $25 depending on the type of file and location. It's usually a quick exchange, and so far has been worth it. Also, there are 3 SA's in the area, and one is my friend. We both agreed on our fees so we wouldn't undercut each other and keep the SS's paying what they should. We've talked about trying to chat with the other SA in the area about the same thing, but haven't as of yet.

Reply by ME/NJ on 11/20/07 5:56pm
Msg #222222

that is great, I know there are a couple of folks in my area that would under cut and even back date so I don't give it much thought anymore when my fee is out of the range. Back when it was busy all my clients knew the fee and just emailed or called and a price was never mentioned.

Reply by Kari_M on 11/20/07 7:54pm
Msg #222242

I have yet to get to that point. I'm new, so I only have a few regulars. I mostly end up going with a company that I have to look up on NR and NotBew and HOPE they show up there, and if they don't I sweat bullets til the check comes . I've had a couple of close calls, but was lucky enough to get paid. (thus far... oh crud, have I jinxed myself now?!?!)

Reply by Gerilynne Lampkin on 11/21/07 6:09am
Msg #222283

I can relate to that info..... My friend and I ( Elaine S.) you all probably know her on here ..We have both agreed since we are really the only one's in our community providing this service to not undercut each other. We are both single parents trying to raise our children. We have referred each other to signings. I work full time and am unable to do signings during my work day and I will pass her name and number to companies that call me. I know she has done and will do the same. If more of us did this or stayed on the same page as far as what we will take as far as a price than the SS will understand "Hey we can't get these closings, etc done we need to re-think our prices" .........

Elaine, thanks for being my partner out there I will keep pushing them to ya lots of love.
Go get em girl....

Reply by John/CT on 11/20/07 7:22pm
Msg #222239

Yes, times have changed. In the past I would not budge from my "standard" fee ... no matter what or where, because someone else will come along who would. But now when called by one of my non-"regulars", I still quote my standard fee. Their response is either "no thanx", and hang up, or they tell me what they normally pay. The latter is my opportunity to try and find an agreeable amount in between, depending on type of engagement (o'nite or edox) and distance. In my last engagement, the service agreed to $25 more than their original offer, and I accepted $10 less than my "normal" ... for a signing in a town next to mine, 15 minutes away. Being flexible and realistic are the keys to success in these difficult times!

Reply by ME/NJ on 11/20/07 8:06pm
Msg #222243

A few factors to consider about lower the price of service.

Can the comp do it for less (yes)

If I lower my price will I get more business to compensate for lower fee (this market that is a BIG NO)

Did HUD fee's go down - Another BIG NO (TC, lawyers and others have not changed there fee which is reflected on the HUD)

Cost - are you're cost going down (buying bulk, cost of doing busines, etc) Another Big NO

If you lower your fee (fulltime notary) you will only hurt or put yourself out of business. Now PT is a different story (PT this is a hobby or alittle extra income)

Now my fee is not the highest nor the lowest, I know what I need to make each month and what I need to make per closing in order to try and keep the doors open. If gas prices go up another 50 cents/gallon I may even consider a increase in rate or a flat fuel surcharge like the shipping companies.

I did this when gas went up (Katrina) and lowered my fee again when gas stablized.


Now I ask, Can you ask the gas, electric and cable company to reduce there rate because times are tough?

Reply by MelissaCT on 11/21/07 9:39am
Msg #222305

John, great to see you here...I do likewise

I'll negotiate (to a point) depending on where, when & details. While something is better than nothing, one still has to have their break-even point and be aware of what exactly that point is. It does no good to work for a loss; at that rate, you are better off with nothing than something. However, I have diversified and if I am able to combine a trip or two, it lowers the overall cost for multiple endeavors and allows a bit of flexibility in price.

Of course, you must have a profit margin built in to your price, because if you're working at your break-even point, you're better off with nothing (not working) -- at least if you don't work, you haven't wasted time. Controlling costs contributes to margin. Margin is good.

Reply by NANCY HARRISON on 11/20/07 10:11pm
Msg #222252

DID YOU ASK WAL-MART TO LOWER THEIR PRICE ON YOUR LAST PURCHASE?
WHAT DID THEY SAY?
WELL, LET ME TELL YOU WHAT THEY PROBABLY SAID,
EXCUSE ME...
THIS IS OUR PRICE.
WELL...
THERE YOU GO!!!
WHAT IS YOUR RATE?
SOUNDS GREAT!
THANKS!
I WILL SEND YOU A CONFIRMATION NOW.
THANKS!!!!

Reply by RickG/CA on 11/21/07 8:45am
Msg #222302

Here's my $.02, and that's just about what I'll earn and what it's worth. I do haggle, but not at the point of service. I've called around for fees for doc visits, veterinary services, handyman repairs, auto purchases etc. Yes, I've even ask if the provider would accept $X.XX. It's well worth the time. Worse that could happen is they laugh on the other line and hang up.

I'm not offended if someone offers an amount lower than my standard fee. I simply think of it as if they were offering to supersize. I'm in control of my fees and I choose to accept, decline or counter as I see fit. No agreement, no service.

That said I do have monthly minimums and I've been countering (at least towards the latter half of the day) more than declining and usually getting a fee that is agreeable and more importantly profitable.

It beats asking a boss for a raise any day of the week.