Posted by Elaine Carlton on 8/26/08 10:17pm
Msg #261934

My rates

I have been working in my area for eight years. It is a rural area and my signings require a lot of driving. I have been considering raising my rates due to the increase in gas prices. However some of the signing companies I have worked for for several years say they are lowering the amount they will pay for signings. How is everyone else handling this? I for one am not going to lower any of my fees.

Reply by Lee/AR on 8/26/08 10:24pm
Msg #261936

Simple. My fee is my fee. Anything less--go fish. Way I figure it is that, if they find someone who'll go for less, that person is just hastening their own exit from this business.

Reply by JK/TX on 8/26/08 10:41pm
Msg #261938

I'm not lowering my fee(s). I'm fair and I know what I am doing.

Most of my calls are from title companies and they have never "ever" had a problem with my fee.

I have had SS's hang up on me when I quoted my fee and that's fine, it saved me time and time is money.

Reply by Kevin/Ct on 8/27/08 3:30am
Msg #261949

Companies like that are just taking advantage of the current market slump. From other posts on this board I see that there are a number of signing services and title companies going out of business as well as a number of the lower priced notaries who can not cover their expenses at the lower rates. When the market turns around in a few more months, the notaries will find themselves in demand again, and they will have more negotiating power due to the reduced competition.

Reply by Ernest__CT on 8/27/08 8:28am
Msg #261962

Kevin/CT: From your mouth to God's ear! n/m

Reply by Nomad/OR on 8/27/08 10:36am
Msg #261973

I respond "Well, thanks for giving me a call" n/m

Reply by Brenda Newkirk on 8/27/08 11:07am
Msg #261984

My most recent experience… title company approved my fee to include extended travel (we discussed the substantial travel during the scheduling call and I accepted based on her agreement to pay a travel fee). When payment finally arrived weeks later it was short the extended travel fee. When I called to speak to Maria at the title company she wouldn’t take my call but stated “we do not pay travel fee” in an email she sent me. What???

My extended travel amounted to 3 hours of driving time and fuel for 140 miles. They paid my extended travel fee on another occasion so I stunned to learn they are refusing to pay me my full fee for this closing. Frustrated she won’t take any of my calls I emailed her back stating HUD shows borrowers were charged a “Travel Fee” as the same amount we agreed upon but Maria stated “that is a label for one of our fees. that does not go to the closer” It seems they charged the borrowers for my travel and then just kept the fee.

Reply by Ernest__CT on 8/27/08 11:29am
Msg #261991

Did your confirmation have the extra fee listed?

If so, there's no room for argument.

If not, then why did you do the signing without demanding a correct confirmation?

This does not sound like title company behavior. It sounds like just a sleazy signing service.

Reply by Brenda Newkirk on 8/27/08 1:29pm
Msg #262025

Re: Did your confirmation have the extra fee listed?

This was Prism Title, DesPlaines, IL. I had done approx. 4-5 closings prior with this title company and never had a problem getting paid my agreed fee. I did request the approved fee in the confirmation for the first closing I did for this company but her reply only contained the borrowers information in an unformal email (I guess you could say I cut them some slack because they were a title company and not a SS). Also, the HUD showed my extended travel fee and thought that would be sufficient.

Of course now my policy is always, always, always get my fee approval in the confirmation regardless of how much work I've done with a company and not to presumme I don't need to be as cautious when dealing with a title companies.

Reply by JulieD/KS on 8/27/08 11:55am
Msg #261999

If the companies need a notary in your area, they will have to pay your higher rates.
By all means.....raise your rates. Why these companies expect us to do what we do for less money when gas costs twice as much is a mystery. I guess because new people coming on board will...just to get the business.

I turn away 9 out of every 10 jobs because they won't pay my minimum. Someone in this area must be taking the jobs, which is why rates are ridiculously low. I am about to go into a different business now because I'll never lower my rates. My rates are reasonable and I will not lower them.

Reply by claudine osborne on 8/27/08 3:29pm
Msg #262046

No lowered fee

I will not lower to my fees either! The cost of everything has gone up..None of use should lower our fees. People in my area are taking those lowered fees. We should band together on this and help each other! I agree in a few months things will turn around, those same people that lowered their fees..thats what you will be offered lowered fees!

This is such a touchy subject for a lot of us! Why don't people listen to the experienced people on this board??

Reply by Craig Evans on 9/1/08 2:42pm
Msg #262878

I am just signing up for the Notary business and hoave no idea what to put in as far as fees. What is the going rate for everything? I live in rural Wyoming and most likely mileage will be an issue.