Posted by Linda_H/FL on 4/2/08 2:37pm
Msg #241811

This is so pathetic...

Got two calls today - one for a refi for Monday, O/N docs to borrower - $65; another for an equity line 45 miles from me - 40 pages...$40.....

What the heck is going on???

Reply by Linda_H/FL on 4/2/08 2:39pm
Msg #241812

Oh, and I should add, jba/FL...I have more exp now..:) n/m

Reply by jba/fl on 4/2/08 7:57pm
Msg #241870

Wha? wha ... wh? n/m

Reply by Linda_H/FL on 4/2/08 8:20pm
Msg #241874

Msg #227027...:) n/m

Reply by jba/fl on 4/2/08 8:35pm
Msg #241877

well, I'm a poor old widow woman w/fading memory! How

can you send that back to bite me? (Signed, Poor old widow woman.....)

Reply by Linda_H/FL on 4/2/08 8:39pm
Msg #241880

ROFL...couldn't resist..:) n/m

Reply by Eric2OO2 on 4/2/08 2:47pm
Msg #241815

Full Signing of TN just offered me $85 for a signing with edocs. No thanks... not worth my time.

Reply by signer1 on 4/2/08 2:49pm
Msg #241817

I am willing to bet it was Nations????

Reply by Linda_H/FL on 4/2/08 3:21pm
Msg #241826

Nope..not Nations...and did I fail to mention

the $40 offer was from a title company???...arrgghhh

Reply by Cari on 4/2/08 4:09pm
Msg #241832

it's just insulting to read that a TC is offering $40 bucks!

And its financially straining those of us to keep turning down work at those low fees and/or giving up that work for some newbie offering $35-$40 a closing.

I'm not one for giving in, but sure would like to know, who in my area/state is backsliding! Need to 'school' them on a few things...

If we ALL just stick to our normal reasonable fees and NOT lower them for anyone, even if guaranteed bulk work, or for a "fav" client, then maybe we would have a chance at getting offered $XXX for refi's, purchases, etc...

NO MORE LOW FEES NO MORE LOW FEES NO MORE LOW FEES NO MORE LOW FEES NO MORE!
ATTICA ATTICA ATTICA....

Reply by peterole_MN on 4/2/08 4:23pm
Msg #241836

Re: it's just insulting to read that a TC is offering $40 bu

NO MORE LOW FEES NO MORE LOW FEES NO MORE LOW FEES NO MORE LOW FEES NO MORE!
ATTICA ATTICA ATTICA....

NO MORE LOW FEES NO MORE LOW FEES NO MORE LOW FEES NO MORE LOW FEES NO MORE!
ATTICA ATTICA ATTICA....

(credit to the previous message writer)

Reply by Sandra Clark on 4/2/08 4:24pm
Msg #241837

Re: it's just insulting to read that a TC is offering $40 bucks!

Nations Direct called, edocs, travel and a whopping $60. Said no thanks, she asked my fee and I told her no point in telling her my fee because they wouldn't meet it and to just keep calling her list. Short time later, they called again, different gal and I quoted my fee, told her I knew they wouldn't meet it and just keep going down the list. I've had as many as 3 or 4 calls from them, same closing, same time, etc. and cannot understand why they can't keep their call list straight.

Reply by Pete/MD on 4/2/08 4:45pm
Msg #241841

I wish I could punch people through the phone. n/m

Reply by Cari on 4/2/08 5:42pm
Msg #241847

"I wish I could punch people through the phone." LOVE THIS! n/m

Reply by Pamela Hoyle on 4/2/08 10:37pm
Msg #241903

Re: it's just insulting to read that a TC is offering $40 bucks!

I get the feeling that they have a big queue that all of them work, and then the first one who fills it, preferably at their lowball price, gets a bonus or something......

Reply by Linda_H/FL on 4/2/08 4:34pm
Msg #241839

I do understand that 40-45 page HELOCS command less

but not that much less IMO...she did ask my fee and I gave her my home county fee..which this HELOC was another county..she couldn't meet it.

Looks like the transmission in the truck picked a bad time to go kaput..

Reply by JohnnyB on 4/2/08 4:57pm
Msg #241843

I am yelling outside my window No more low fees, no more low n/m

Reply by cassiewi on 4/2/08 6:12pm
Msg #241853

I like that more than the actual commercial!

The people who schedule those things are incredible. Oh yes, it pays $75 for a refinance 30 miles, um no thanks...it amazes me that people actually work for that.

Reply by JenCA on 4/2/08 6:19pm
Msg #241854

Playing Devils Advocate....

OK... don't everyone jump down my throat all at one time, but I just want to say this. I DO AGREE with everyone as far as these lowball rates and fees that people are accepting and offering and its quite ridiculous. BUT on the same hand did you ever think that maybe the notaries that ARE accepting these figures ARE BROKE, and are really trying to make ends meet, and maybe that $45 dollar signing could really help at this time. Hell, we all sure have an over abundance of legal and letter sized paper, BECAUSE ccrap there havent been any closings, so at this point you have to take what you can get! And if they are able to get 5 signings at $45 each versus 1 signing a $125, I am pretty sure they are gonna take money as opposed to not!

People are trying to survive, peple are trying to eat!!! And I am in no way shape or form justifying these prices... but I just wanted to voic it. Because I come on this website day in and day out and I love reading what the veterans have to say about there experiences and I have truly learned a lot from here, but just try to think from another angle.

Once Again, please don't everyone jump down my throat at one time, just try to take a different look!

Reply by PAW on 4/2/08 7:34pm
Msg #241862

Figure out what a signing COSTS YOU

A $45 signing may actually be costing you money to do. Count everything, not just gas and paper. Your time, wear and tear on your car, long-term vehicle expenses (insurance, registration, maintenance, etc.) and don't forget to figure your taxes, licensing requirements (if any) commission fees, etc. And telephone, electric, and other 'office' expenses. They all add up. I'd bet that a $45 signing puts little or no money in your pocket. Certainly not enough to pay for 3 hours, or more, of your time.

Reply by Charles_Ca on 4/2/08 8:13pm
Msg #241873

Re: Playing Devils Advocate....I would be willing to wager

that the people taking the low-ball fees are not full time notaries but notary hobbyists who don't need the money to eat and are probably using their employers' resources instead of their own.

Reply by JanetK_CA on 4/2/08 10:54pm
Msg #241908

Re: Playing Devils Advocate....I would be willing to wager

Right! And if they're not, they would be better off financially flipping burgers somewhere that pays benefits. I'm not saying this to be flip (no pun intended...). I'm totally serious about that. I completely agree with what PAW said about it costing you money in some cases.

I'm not saying that I've never taken anything lower than my usual base fees, but If I do, it's not by much, plus I know what the tradeoffs are, usually involving a lesser use of my resources. For example, it's very close by, I've got another signing in the same area, and/or a very small package or no docs to print at all.

Reply by CaliNotary on 4/2/08 11:22pm
Msg #241909

Continuing the Devil's Advocate

Most of the costs that Paul mentioned are fixed costs. Unlike gas and paper, every signing we do doesn't give us a bigger cell phone bill or a more car insurance to pay, those are going to stay the same month in and month out. In fact, the cost of fixed costs is actually reduced with each signing you do since they're being absorbed by a larger number of signings.

Not that I would ever do a $45 signing, but I disagree with the premise that doing one can actually make you lose money because of all the costs involved. $45 minus gas, paper, toner, and depreciation isn't going to give you a negative number, it's going to give you a positive number that can be applied toward your fixed costs each month, which is a better net result than $0 being applied toward your fixed costs.

So it boils down to the question, is the time involved worth that net result? And the obvious answer is no.

Reply by PAW on 4/3/08 10:22am
Msg #241967

Re: Continuing the Devil's Advocate

Granted, they are fixed costs, but the percentage of that fixed cost is a factor, and possibly a major factor in costing out jobs.

For example, if your phone bill (for business purposes) is $100 per month and you do 10 jobs, then each job has a proportionate amount of $10. If you do 50 jobs, obviously that amount is less; $2. But, it still has to be factored in.

When we were doing 3 to 5 signings a day, the fixed costs were almost negligible because it was spread pretty thin. Today, those costs add up.

Supply and demand works the same on the service provider side. The more work we get, the cheaper we can do the work. Less work means that it costs more to do it.

It isn't rocket science, but you can't neglect your fixed costs. It ALL has to be considered.

Reply by JohnnyB on 4/3/08 10:30am
Msg #241969

Re: Devils Advocate does not work on this one

Taking what you can get is the dumb thing to do. Are you really going to feel good after completing 5 signings @45? You are going to be tired of driving all over the place, put all that mileage on your car, and you are going to hate yourself after prostituting yourself. $45 is a no brainer that you make squat. You probably will do rush the borrower and do a crap job. No, you don't take what you can get. You let that one go because you just might get the next one at $125. That scheduler will have called 10 people and finally said the hell with this, I'm scheduling it at whatever. You are smart and realize there is no money to be made on that signing. You recognize the term opportunity cost, the sacrifice you made to take those 5@45. You take 2 @ 125, then you can have the option of working somewhere else or doing another service job.

Do you know, I have the greatest selection of dry cleaners in my area. I can't get a shirt cleaned for less than 1.85 and a pair of pants for less than 5.00. The dry cleaners are smart and they are not going to start a price war. Thus, I am still paying 1.85 and 5.00
no matter where I go in this area. I can't find one deal for this stuff, thus I pay it.

When companies like Service Link and National Real Estate dramatically reduced their prices three years ago, the other major companies were looking to see how this would fly.
Other companies have done the same thing because the new fees were accepted. If it was stopped right there, yes we would have less signings, but they would still be at a reasonable fee. We would be able to ride out this down cycle at a decent fee. If the answer was no to National Real Esate and Service Link, we wouldn't be in the pickle we are in today.

Reply by jba/fl on 4/2/08 7:59pm
Msg #241871

Re: I am yelling outside my window No more low fees, no more low

I'm right there yelling too!!

NO MORE LOW FEES! NO MORE!

Reply by PAW on 4/2/08 7:36pm
Msg #241863

Got an email from Notary Bay - Edoc signing $80. "Job Closed" two minutes later. And the signing was at least 45 minutes travel. Are they for real?

Reply by Becca_FL on 4/2/08 8:04pm
Msg #241872

Re: This is so pathetic...PAW

You expect more from that snake Scott? Pathetic and ridiculous, for sure!

Reply by John_NorCal on 4/3/08 12:03am
Msg #241913

I posted about that guy a while back. Text messaged me about a job, then within a minute said the job was taken. No way in hell was that for real, he just wants to get suckers to sign up for his site. Wouldn't be surprised if the $45.00 wonders sign up with him.

Reply by MonicaFL on 4/3/08 8:23am
Msg #241940

I got a call yesterday for one Friday about 25 miles and one about 15 miles - only offered $40.00 for each closing and when I said no they said, well, its two closings. I told her it takes me at least $40.00 to fill my car (Toyota Camry) and I didn't even get out of bed for $40.00.

Reply by MonicaFL on 4/3/08 8:24am
Msg #241941

Re: This is so pathetic...P.S.

This was American Title Corp out of Illinois.

Reply by Linda_H/FL on 4/3/08 9:15am
Msg #241950

Yep...that be the company Monica..:)... n/m

Reply by sue_pa on 4/3/08 11:09am
Msg #241977

sounds like you're a true businesswoman with comments like

these in a multi-BILLION dollar business.

...it takes me at least $40.00 to fill my car (Toyota Camry) and I didn't even get out of bed for $40.00. ...