Posted by Bubba/CA on 3/22/08 11:49pm
Msg #240338

Earn Top $$$

Today is the 2nd time; I have seen this advertisement posted in my area for becoming a new notary. Out of curiosity I went on their website, they state the “average” income for
a loan signing agent is $3,000 to $10,000 monthly and $70,000 to $100,000 annually.
Where do I sign up??lol
The advertising is not what bothers me, it’s that someone who doesn’t even know what a notary public is or does will see these posted signs & become a notary based on false hope of making “top $$$”. Do we really need more notaries? Why aren’t all the startup costs mentioned before you start the process??? It’s not that cheap to get started as a SA, your commission, bond, stamp, E&O, classes, printer etc. costs money.
When I became a notary, it was not because I saw some $$$ sign posted in my local grocery store’s parking lot. I knew what I was getting into when I started.
Well, I guess everyone has a right to make their money.
Thanks for letting me vent.

Reply by JanetK_CA on 3/23/08 1:33am
Msg #240344

"Why aren’t all the startup costs mentioned before you start the process??? "

Because they wouldn't be able to sell as many people on taking their classes. Obviously, their intentions are purely business motivated. Very frustrating, though, isn't it? Seems like almost every week, I'm explaining the realities to someone who is interested in "just some extra money..." Sadly, several of them used to be involved with other aspects of the loan business. Don't know why they think we're that busy if they aren't... (Although you'll get no complaints from me about this month.)

Reply by Ilene C. Seidel on 3/23/08 12:38pm
Msg #240368

Hopefully the SMART person will investigate before spending $$. The ones who don't get burned, another sad situation.

Reply by desktopfull on 3/23/08 7:26pm
Msg #240383

The ones that don't are the ones that get on here without reading anything on the website and post messages like this: "Okay, I got my notary. How do I get started?"

Reply by Kevin/Ct on 3/23/08 6:15am
Msg #240346

Someone should make inquiry as to how the arrived at their income forecasts. Subscribers to their service would have a right to know the basis of this statement.

Reply by Lee/AR on 3/23/08 7:43am
Msg #240348

I'm getting many e-mails

from some outfit "books for better living' or close enough. They are repeatedly pushing a book about becoming a Notary & making $150/hr., working when you want, if you want. Just think--working only 10 hours/week, you can make $1,500! P. T. Barnum was right.

Reply by Linda_H/FL on 3/23/08 9:16am
Msg #240352

"becoming a Notary & making $150/hr"...

wouldn't I love a piece of THAT pie!!

Reply by sue_pa on 3/23/08 10:34am
Msg #240357

these numbers aren't out of line

I am not in CA so I don't understand the saturation so I am not speaking to that and I am not talking about those who live in areas without people. But if you live in an urban area, break the math down and those numbers are TOTALLY doable if you are willing to work - and by work I mean work per the client's directives, not your own.

$100,000 per year at $150 per loan equals 667 loans a year or 13 loans a week. Not even 3 a day for a 5 day work week. Remove a little money for those less than $150 per order - add in a little extra for those $200 orders and it evens out. Work a 6 day work week and it makes those numbers easier. I've completed 13 orders in March on Saturdays and we still have one more Saturday this month.

Reply by Linda_H/FL on 3/23/08 12:42pm
Msg #240370

Maybe not out of line for loan signing work (although the

way the market is these days I question whether those numbers can play out any more), but accordikng to Lee the book is pushing "become a notary and make $150/hour" - nothing said about being a signing agent - unless it's a hidden agenda

Reply by JanetK_CA on 3/23/08 8:47pm
Msg #240389

Re: Maybe not out of line for loan signing work (although the

I think it's the "per hour" point that is deceptive. Any of us who have been at this for a while know that you work a lot more than an hour per assignment. Even if you work very efficiently, there will always be administrative time, marketing time, travel time, etc. I don't question what Sue is saying, 'cause she certainly knows what she's talking about. But she is talking about working a lot more than 10 hours a week. My per assignment average for this month is pretty close to the $150 number, but I wish I had the volume that Sue has! However, this *has* been a pretty good month for me so far.

Saturation clearly does have an impact, but I'm finding (thank goodness!!) that some people are becoming more and more concerned about hiring people with experience who know what they are doing. I'm focusing on those people and trying not to waste any energy on those companies who are trying to compete on price. As I've said before, we each have to choose our own marketing strategies, e.g. do we want to be Nordstrom or WalMart? (And in case anyone has any doubt, the differences go way beyond price!)

Reply by Linda_H/FL on 3/23/08 10:09pm
Msg #240393

Me Question Sue??..Me??....no....I know better...

and she's older than me..<G>

Seriously..I think it is deceptive...there IS no making $150/hour at this...not so sure there ever was...too bad all those people reading that e-mail or the Craigslist ad or Monster.com (where *I* read it) can't read this board before they spend their money...

Reply by JanetK_CA on 3/23/08 10:44pm
Msg #240396

Re: Me Question Sue??..Me??....no....I know better...

Actually, I pretty much agree with both of you. My comments were directed in general, except for relating about the saturation issue.

"too bad all those people reading that e-mail or the Craigslist ad or Monster.com (where *I* read it) can't read this board before they spend their money..."

So very, very true! I've also heard that one company here in So Cal (not the NNA) is again advertising for notary classes on the radio. I think they were one of the worst offenders, although that is based on heresay. I never personally heard the ads, since I don't listen to that station.

Reply by countrywoods on 3/24/08 5:38pm
Msg #240464

Re: Maybe not out of line for loan signing work (although the

I am from Florida also and there is no such money here.
Why do these companies pray on people who are on hard times.
I am a notary because I know what it entails I sure wasnt even expecting to make that kind of money.
Wish we could but this is too much like money for nothing!