Posted by Ali/IL on 4/14/08 12:56pm
Msg #243413

what do you say?

Lately I have been asked how to get into this business from borrowers I am closing for.

When I am asked I am quickly trying to think of what to say without lying. As I don't want to . You all know how that works.

I say things like it is a bad time or how long it took me to get to this point. But, I have been thinking that maybe I should just kind off ignore the question and move quickly with the signing?

Reply by CF on 4/14/08 1:02pm
Msg #243414

I always say that it is a bad time, that it took a lot of training and testing (scares most people off), a lot of money, need to know marketing, and that it is very hard to get companies to use you, that it takes upto 60 days to get paid, and that no work= no pay. That usually does the trick!!!!!!!!!!!!!!!

Reply by Pete/MD on 4/14/08 1:03pm
Msg #243415

I give them a look like I just fell on my head. n/m

Reply by Ali/IL on 4/14/08 1:17pm
Msg #243418

Re: I give them a look like I just fell on my head.

Pete, I am sure that that is how I must look when they ask me!

CF I wanted to tell them how sometimes I have waited up to four months! And, how sometimes you won't get paid for nosigns. Like Saturday . Borrowers didn't sign because they didn't know what their mortgage amount would be. How they had money coming back. How they were being charged a loan origination. How dare lender charge them that since they had done business with them before! I drove two hours round trip and printed over 300 pages in originals alone.

Sorry, needed to vent.

Reply by Calnotary on 4/14/08 1:26pm
Msg #243421

Re: I give them a look like I just fell on my head.

I will answer what Signing Doc said a little below the posts, "this is the time to get OUT of this business, not the time to get IN the business" LOL

Reply by Lee/AR on 4/14/08 1:29pm
Msg #243422

First, practice a 'startled look', then you ask...

Why do you ask? (per Miss Manners--"How to avoid answering personal questions."
Or, more bluntly, "Why are you asking how to become my competition?" That ought to embarass 'em into silence. Ignoring question and say "Moving right along....." is also an option. Practice various ones... you'll use each variation at some point.

Reply by Sylvia_FL on 4/14/08 1:40pm
Msg #243424

Tell them the qualifications how to get into the business - they need to be a notary!
Tell them the cost of becoming a notary, they have to be bonded and they need beaucoup errors and omission insurance.
Tell them the equipment they will need to purchase - good laser printer etc.
Tell them how they have to be available at the borrowers convenience - which could be inconvenient for them. They need to spend money on advertising.
When you have told them all that is involved then add "and some companies are willing to pay $35 for each signing"
That should stop them in their tracks

Reply by Matilda Archer on 4/14/08 3:24pm
Msg #243439

I have had a few borrows ask me that same question and I told them....lol In NJ its very easy to become a notary and most people already have a computer this day in age. My friend/ex co worker introduced me to this business and like I always say I couldnt do it full time it just isnt for me..........but I guess others may be different! I guess its all about the area your in because she makes great money doing this but again she does it full time if I make 1k a month for me thats more than great since its just extra pocket money because I work doing insurance full time! Like I said in PP hats off to those of you who do this full time!

Reply by Sharon Taylor on 4/14/08 5:48pm
Msg #243452

I start with "Well, I worked for attorneys for 18 years..."

And that generally stops them in their tracks. If they get persistent, I then go into the equipment I have to have, adding that I have done closings at 6 AM and at 11:30 at night, topping off with the loooong wait for payment and how sometimes companies stiff their notaries. During this recitation, I am also trying to distract them back toward signing their documents. Once in a while you get one who thinks you're lying, but generally they don't have the motivation to pursue it more than asking a few questions and maybe checking a few websites anyway. All talk, no action.

Reply by BrendaTx on 4/14/08 5:54pm
Msg #243453

That's the same line I use Sharon, "a lifetime of

experience in the mortgage, title, and legal biz going back to my summers as a petulant 11 year old staring at the hardwood floors of an ancient title company" and that usually does it .

Reply by SharonMN on 4/15/08 4:42pm
Msg #243583

How about a focus on the business part?

Well, besides having to be a notary, it's like running any other small business: first you have to make sure you're qualified to do the job, then network and advertise to get and keep clients, plus keep up the accounting and tax end of things. (notice how that sounds a lot more like work than "sign up on a couple of databases and earn $100K a year!"


If you want to stop somebody in their tracks, I think mentioning the last-minute stress is most effective. I had no idea about that when I started and sort of assumed I would be able to schedule and prepare for appointments a couple of days ahead. WRONG.

Reply by sue_pa on 4/14/08 6:02pm
Msg #243456

the VERY few times someone asks me, I give them my best 'look' and say they need hands on experience so my best advice is to scour the local title officers/lawyers offices/employment agencies to get a job on the ground floor and work their way up so that in a few years they have extensive experience and are able to provide services as independent contractors. Are those in this business who are successful with ZERO experience? Absolutely but they are intelligent, determined and business minded.

I've never understood why anyone thinks that giving only the 'pitfalls' of our job would deter anyone that was actually interested - clearly there is profit or you wouldn't be at their kitchen table.

All that said, VERY few people will take any initiative other than asking the question.

Reply by Les_CO on 4/14/08 6:15pm
Msg #243458

I tell them my full time job is in a morturary. But people just seemed to have stop dying here. I'm hoping when some of these borrowers see how bad the LO is ripping them off, they will either kill him, or have a stroke. After all, busniss is business.

Reply by LKT/CA on 4/14/08 6:35pm
Msg #243459

To be a Notary in CA, it costs approx. $450.....add $1,550 to that to be a signing agent.
I just tell em' it takes about $2,000 initial investment....when you hit em' with the costs, they usually get disinterested really quick. If that doesn't do it, I mentioned that applicants have to submit their photos and are fingerprinted, which goes on to the FBI and Dept. of Justice...they then get that look that says "photo? fingerprints? then America's Most Wanted tv show will find me"....

Then they have a "nevermind" look on their face and the subject changes to the nice weather we're having....

Reply by claudine osborne on 4/14/08 9:36pm
Msg #243489

I tell them..I love this job, that I get to meet nice people and see amazing homes, which is true! The cost of starting up and the hours involved, the years of training ..they seem dumbfounded and that usually stops them from asking any more questions..I always like to start off with a positive!

Reply by Linda Juenger on 4/14/08 10:38pm
Msg #243492

Tell them how much we spend of gas and the miles and miles n/m

Reply by MW/VA on 4/15/08 8:34am
Msg #243513

I get asked from time to time & I try to provide an honest answer. I remember asking a notary who closed my own loan about the profession, and she wasn't very encouraging.
I simply tell them that it's a tough business and this is not a good time, but they can get out info on xyz sites. I ended up in the business because of a friend, but did a lot of research before jumping in. It took a lot to get started & build a successful business. We all know this. The part of sitting at the borrower's table looks easy, but we know what goes on behind the scenes. I have also mentored another notary & I still continue to approach this as a team effort. Why do you think we all use these boards to gain knowledge & vent?